Daily Market Comments - Thursday 29 July 2010

[RTFX-Trading]

EUR-USD	It looks more likely that it would rise to 1.3036 - 1.3076 from 1.2981 or 1.2960. After which a downside move is expected.
USD-CHF	There are initial signs of a good corrective recovery towards 1.0595 or even 1.0614. Supports at 1.0552 and 1.0528 zone.
GBP-USD	While below 1.5619 - 1.5643 it is more likely to fall further towards 1.5573 or 1.5551. Premature rise above 1.5643 could see it rising above 1.5687 zone.
USD-JPY	There are initial signs of a good corrective recovery towards 87.79 or even 87.96. Supports at 87.37 and 87.12 zone.
USD-CAD	It should trade higher to 1.0420 while 1.0360 or 1.0344 offers support. Stop loss below 1.0328 zone.
NZD-USD	Support at 0.7264 or 0.7239 should hold the downside for a correction to above 0.7321 zone.
AUD-USD	Market should pop up towards 0.8979 or 0.9002 this bullish scenario would be damaged if 0.8920 - 0.8884 zone is broken, a severe break down could then occur.
EUR-JPY	It looks more likely that it would rise to 114.53 - 115.39 from 113.45 or 113.02. After which a downside move is expected.
EUR-CHF	Preferred view is for a fall to 1.3724 - 1.3692 while 1.3775 - 1.3794 area resists. A clear break of 1.3857 would be bullish.
EUR-GBP	Current fall is near an end of wave around 0.8308 zone, a rally should then procede to above 0.8360. Fall below 0.8285 would cancel this scenario.
EUR-CAD	It should try higher up to 1.3504 - 1.3543. Entry point 1.3466 or 1.3444. After this rise, a correction is expected.
EUR-NZD	Current upmove should be ended around 1.7900 - 1.7960. Any correction consolidation should find support in 1.7795 - 1.7751 zone.
EUR-AUD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.4632 or 1.4640 if support around 1.4510 hold. After which a pullback to 1.4510 - 1.4464 zone is possible.
GBP-CHF	A corrective rise should ideally test 1.6544 or even higher than 1.6605. Supports are at 1.6425. Stop loss below 1.6397 zone.
GBP-JPY	There are initial signs of a good corrective recovery towards 136.99 or even 137.35. Supports at 136.17 and 135.71 zone.
GBP-CAD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.6221 or 1.6261 if support around 1.6149 hold. After which a pullback to 1.6149 - 1.6120 zone is possible.
GBP-AUD	Current rise should end around 1.7576. Objectives of this downmove are 1.7301 or 1.7138. A rise above 1.7688 is again bullish.
CAD-JPY	It looks more likely that it would rise to 85.13 - 86.07 from 84.10 or 83.63. After which a downside move is expected.
NZD-JPY	There is bearish potential for a fall to 63.18 while 63.86 - 64.07 resist. After this fall a recovery up to 64.07 or 64.28 is expected.
AUD-JPY	No comment!
XAG-USD	It may meet resistance in 17.50 - 17.52 zone for a drift down to 17.31 zone, after which bounce to 17.71 is anticipated.
XAU-USD	It should try higher up to 1164.96 - 1167.60. Entry point 1162.32 or 1160.31. After this rise, a correction is expected.

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