Weekly Market Comments - Monday 02 August 2010

[RTFX-Trading]

EUR-USD	Currently uptrend should end around 1.3099 - 1.3132 area. A correction down to below 1.2903 is expected. A rise above 1.3234 will abort the expected correction.
USD-CHF	There is bearish potential for a fall to 1.0306 while 1.0473 - 1.0528 resist. After this fall a recovery up to 1.0528 or 1.0584 is expected.
GBP-USD	Currently uptrend should end around 1.5878 - 1.5800 area. A correction down to below 1.5489 is expected. A rise above 1.5917 will abort the expected correction.
USD-JPY	While below 87.25 - 87.69 it might drop to 85.52 or 84.65.
USD-CAD	It may meet resistance in 1.0282 - 1.0310 zone for a drift down to 1.0229 zone, after which bounce to 1.0364 is anticipated.
NZD-USD	There are initial signs of a good corrective recovery towards 0.7326 or even 0.7370. Supports at 0.7223 and 0.7166 zone.
AUD-USD	One move lower to 0.8945 or 0.8843 is anticipated while below 0.9058 - 0.9108 area. Stop loss above 0.9171 zone.
EUR-JPY	There are initial signs of a good corrective recovery towards 113.66 or even 114.20. Supports at 112.30 and 111.49 zone.
EUR-CHF	It looks more likely that it would rise to 1.3758 - 1.3942 from 1.3542 or 1.3450. After which a downside move is expected.
EUR-GBP	It might hold above 0.8304 or 0.8266 for a rise towards above 0.8379. Stop loss below 0.8228 zone.
EUR-CAD	No comment!
EUR-NZD	Corrective dips should ideally halt near 1.7788 or 1.7663 for one more thrust upwards towards 1.8060 - 1.8207 area or 1.8456 in extention. Fall below 1.7370 puts it back on a downward path.
EUR-AUD	No comment!
GBP-CHF	Resistances lie around 1.6454 and 1.6545. It should test lower towards 1.6163 zone. A clear break of 1.6291 would be bearish.
GBP-JPY	Resistances lie around 136.55 and 137.34. It should test lower towards 133.99 zone. A clear break of 134.91 would be bearish.
GBP-CAD	It should trade higher to 1.6248 while 1.6026 or 1.5965 offers support. Stop loss below 1.5803 zone.
GBP-AUD	It may attempt a test higher to 1.7432 - 1.7546 after which weakness may set it to a drift down to 1.7111 limit.
CAD-JPY	There are initial signs of a good corrective recovery towards 84.76 or even 85.33. Supports at 83.54 and 82.88 zone.
NZD-JPY	It looks more likely that it would rise to 64.22 - 65.77 from 62.37 or 61.60. After which a downside move is expected.
AUD-JPY	There are initial signs of a good corrective recovery towards 78.79 or even 79.27. Supports at 77.76 and 77.20 zone.
XAG-USD	It may attempt a test higher to 18.11 - 18.37 after which weakness may set it to a drift down to 17.45 limit.
XAU-USD	It should test 1190.60 area after which a sell off down to 1160.30 or extended to 1139.75 area is expected.

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

RTFX Ltd is licensed to conduct investment services business by the Malta Financial Services Authority. This information does not constitute an offer or solicitation and is provided for information purposes only. This information shall not be deemed to constitute advice and should not be relied on as such to enter into a transaction or for any investment decision. Any opinions expressed in this document represent the views of RTFX Ltd at the time of preparation. They are thus subject to change without notice. RTFX Ltd believes that the information contained herein is accurate as at the date of publication. However, no warranty of accuracy is given by RTFX Ltd and no liability in respect of any errors or omissions, including any third party liability, are accepted by RTFX Ltd or any director, officer or employees.