Daily Market Comments - Friday 30 July 2010

[RTFX-Trading]

EUR-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.3117 or 1.3131 if support around 1.3055 hold. After which a pullback to 1.3055 - 1.3029 zone is possible.
USD-CHF	Market should not go lower than 1.0310. After this move down it should go up to 1.0495 - 1.0535 area.
GBP-USD	It looks more likely that it would rise to 1.5657 - 1.5701 from 1.5597 or 1.5575. After which a downside move is expected.
USD-JPY	Current fall is near an end of wave around 86.40 zone, a rally should then procede to above 87.34. Fall below 86.02 would cancel this scenario.
USD-CAD	Difficult to predict the next move. If first down it should hold 1.0337 or 1.0319. If first up it should face resistance in 1.0382 - 1.0408 zone to 1.0319 zone.
NZD-USD	Current fall is near an end of wave around 0.7199 zone, a rally should then procede to above 0.7283. Fall below 0.7159 would cancel this scenario.
AUD-USD	It looks set for gains to 0.9063. Supports at 0.8955 and 0.8926. A break of 0.8847 will damage this bullish structure.
EUR-JPY	Market should pop up towards 113.87 or 114.10 this bullish scenario would be damaged if 113.35 - 113.06 zone is broken, a severe break down could then occur.
EUR-CHF	Market should not go lower than 1.3531. After this move down it should go up to 1.3684 - 1.3718 area.
EUR-GBP	Current rise seems to be over near 0.8386 or 0.8408 for a retracement towards 0.8365 - 0.8350 area.
EUR-CAD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.3589 or 1.3613 if support around 1.3533 hold. After which a pullback to 1.3533 - 1.3508 zone is possible.
EUR-NZD	Current upmove should be ended around 1.8093 - 1.8176. Any correction consolidation should find support in 1.7957 - 1.7903 zone.
EUR-AUD	While below 1.4557 - 1.4591 it is more likely to fall further towards 1.4459 or 1.4392.
GBP-CHF	Market should not go lower than 1.6098. After this move down it should go up to 1.6378 - 1.6440 area.
GBP-JPY	Market should pop up towards 136.20 or 136.60 this bullish scenario would be damaged if 135.24 - 134.69 zone is broken, a severe break down could then occur.
GBP-CAD	It should trade higher to above 1.6230 while 1.6168 offer support. Minor support at 1.6129. Stop Loss below 1.6067 zone.
GBP-AUD	Current move should be supported in 1.7313 - 1.7248 zone for a rise to 1.7601. A break below 1.7157 opens the way down.
CAD-JPY	Market should not go lower than 83.53 - 83.14. After this move down it should go up to 84.20 - 84.47 area.
NZD-JPY	It may meet resistance in 62.82 - 63.01 zone for a drift down to 62.31 zone, after which bounce to 63.52 is anticipated.
AUD-JPY	It is likely to fall towards 77.62 - 77.09 unless a corrective rally breaks the 78.53 resistance. Stop above 78.79 zone.
XAG-USD	It should trade higher to 17.72 while 17.60 or 17.55 offers support. Stop loss below 17.51 zone.
XAU-USD	Currently uptrend should end around 1169.09 - 1172.28 area. A correction down to 1163.99 - 1162.08 is expected. A rise above 1176.10 will abort the expected correction.

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