Daily Market Comments - Monday 02 August 2010

[RTFX-Trading]

EUR-USD	It is a triangle configuration. Market should break either side. Acceleration should occur above 1.3062 or under 1.3005 limits.
USD-CHF	It should test 1.0421 area after which a sell off down to 1.0364 or extended to 1.0311 area is expected.
GBP-USD	Currently uptrend should end around 1.5703 - 1.5753 area. A correction down to 1.5618 - 1.5583 is expected. A rise above 1.5822 will abort the expected correction.
USD-JPY	Current fall is near an end of wave around 85.90 zone, a rally should then procede to above 86.94. Fall below 85.40 would cancel this scenario.
USD-CAD	Market should not go lower than 1.0228. After this move down it should go up to 1.0329 - 1.0351 area.
NZD-USD	Market should hold major support at 0.7205 before rising towards 0.7285 or even 0.7315 limit.
AUD-USD	Current rise seems to be over near 0.9056 or 0.9087 for a retracement towards 0.9026 - 0.9006 area.
EUR-JPY	It is likely to fall towards 111.81 - 111.03 unless a corrective rally breaks the 113.19 resistance. Stop above 113.58 zone.
EUR-CHF	It should try higher up to 1.3605 - 1.3637. Entry point 1.3574 or 1.3542. After this rise, a correction is expected.
EUR-GBP	There is bearish potential for a fall to 0.8278 while 0.8330 - 0.8343 resist. After this fall a recovery up to 0.8343 or 0.8356 is expected.
EUR-CAD	Market should not go lower than 1.3396 - 1.3338. After this move down it should go up to 1.3483 - 1.3513 area.
EUR-NZD	There are initial signs of a good corrective recovery towards 1.8060 or even 1.8101. Supports at 1.7947 and 1.7875 zone.
EUR-AUD	Market should not go lower than 1.4392 - 1.4340. After this move down it should go up to 1.4477 - 1.4510 area.
GBP-CHF	It should test 1.6462 area after which a sell off down to 1.6220 or extended to 1.6096 area is expected.
GBP-JPY	It should test 136.41 area after which a sell off down to 134.49 or extended to 133.42 area is expected.
GBP-CAD	One more dip to 1.6093 is likely followed by a grind higher to 1.6200. After which it can resume its downtrend.
GBP-AUD	One more dip to 1.7304 is likely followed by a grind higher to 1.7411. After which it can resume its downtrend.
CAD-JPY	It may attempt a test higher to 84.13 - 84.48 after which weakness may set it to a drift down to below 83.31 limit.
NZD-JPY	Market should hold major support at 61.67 before rising towards 63.09 or even 63.50 limit.
AUD-JPY	If market stays below 78.36 a fall to 77.48 is expected. If market breaks the point 78.69 it could reach the sky.
XAG-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 18.22 or 18.21 if support around 17.87 hold. After which a pullback to 17.87 - 17.75 zone is possible.
XAU-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1188.49 or 1187.70 if support around 1176.80 hold. After which a pullback to 1176.80 - 1173.37 zone is possible.

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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