Monthly Market Comments - Monday 02 August 2010

[RTFX-Trading]

EUR-USD	Current rise seems to be over near 1.3068 or 1.3360 for a retracement towards 1.2777 - 1.2612 area.
USD-CHF	It may meet resistance in 1.0417 - 1.0523 zone for a drift down to 1.0256 zone, after which bounce to 1.0683 is anticipated.
GBP-USD	Current rise seems to be over near 1.5703 or 1.5979 for a retracement towards 1.5426 - 1.5279 area.
USD-JPY	It should register further gains to 88.38 while 85.17 - 83.96 caps downside attempts. Stop loss below 81.97 zone.
USD-CAD	There is bearish potential for a fall to 1.0134 while 1.0406 - 1.0480 resist. After this fall a recovery up to 1.0480 or 1.0554 is expected.
NZD-USD	Current rise seems to be over near 0.7326 or 0.7502 for a retracement towards 0.7149 - 0.7025 area.
AUD-USD	Current rise seems to be over near 0.9058 or 0.9305 for a retracement towards 0.8811 - 0.8681 area.
EUR-JPY	Currently uptrend should end around 113.66 - 115.71 area. A correction down to 110.04 - 108.48 is expected. A rise above 118.85 will abort the expected correction.
EUR-CHF	It should test 1.3829 area after which a sell off down to 1.3159 or extended to 1.2744 area is expected.
EUR-GBP	While below 0.8335 it might drop to 0.8137 or below 0.7970 zone.
EUR-CAD	While below 1.3546 - 1.3743 it is more likely to fall further towards 1.3175 or 1.3003. Premature rise above 1.3743 could see it rising above 1.4088 zone.
EUR-NZD	While below 1.7994 it might drop to 1.7546 or below 1.7136 zone.
EUR-AUD	It looks more likely that it would rise to 1.4837 - 1.5269 from 1.4368 or 1.4152. After which a downside move is expected.
GBP-CHF	It should test 1.6639 area after which a sell off down to 1.5931 or extended to 1.5516 area is expected.
GBP-JPY	Current rise seems to be over near 136.55 or 138.46 for a retracement towards 134.65 - 133.20 area.
GBP-CAD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.6287 or 1.6417 if support around 1.5920 hold. After which a pullback to 1.5920 - 1.5775 zone is possible.
GBP-AUD	While above 1.7197 - 1.6881 zone a corrective upmove could test 1.7742 or 1.7971. After which it should resume its downtrend.
CAD-JPY	It is likely to fall towards 81.60 - 79.18 unless a corrective rally breaks the 85.24 resistance. Stop above 86.45 zone.
NZD-JPY	Currently uptrend should end around 63.68 - 65.05 area. A correction down to below 59.94 is expected. A rise above 67.43 will abort the expected correction.
AUD-JPY	It should trade lower to 74.08. Resistances are at 80.83 and 83.50. A break of 87.57 is bullish, confirmed by a close above 82.33.
XAG-USD	No comment!
XAU-USD	Market should not go lower than 1168.95 - 1143.92. After this move down it should go up to 1212.45 - 1230.92 area.

Trading Desk, RTFX Ltd
16th September Square Mosta, MST 1180 Malta
Tel: +356 23 310 000 | Fax: +356 21 412 458

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