Daily Market Comments - Tuesday 03 August 2010

[RTFX-Trading]

EUR-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.3236 or 1.3232 if support around 1.3143 hold. After which a pullback to 1.3143 - 1.3117 zone is possible.
USD-CHF	There is bearish potential for a fall to 1.0368 - 1.0332 while 1.0404 - 1.0433 resist. After this fall a recovery up to 1.0433 or 1.0461 is expected.
GBP-USD	Currently uptrend should end around 1.6035 - 1.5963 area. A correction down to below 1.5752 is expected. A rise above 1.6041 will abort the expected correction.
USD-JPY	While below 86.69 - 86.81 it might drop to 86.25 or 86.01.
USD-CAD	It may meet resistance in 1.0245 - 1.0266 zone for a drift down to below 1.0188 zone.
NZD-USD	Current rise should end around 0.7359. Objectives of this downmove are 0.7280 or 0.7232. A rise above 0.7390 is again bullish.
AUD-USD	Currently uptrend should end around 0.9204 - 0.9173 area. A correction down to below 0.9073 is expected. A rise above 0.9210 will abort the expected correction.
EUR-JPY	Current rise seems to be over near 114.10 or 114.56 for a retracement towards 113.64 - 113.36 area.
EUR-CHF	Current rise seems to be over near 1.3696 or 1.3734 for a retracement towards 1.3657 - 1.3637 area.
EUR-GBP	Market should hold major support at 0.8226 before rising towards 0.8331 or even 0.8365 limit.
EUR-CAD	It should test 1.3593 area after which a sell off down to 1.3393 or extended to 1.3304 area is expected.
EUR-NZD	It should test 1.8128 area after which a sell off down to 1.7855 or extended to 1.7724 area is expected.
EUR-AUD	It should test 1.4509 area after which a sell off down to 1.4334 or extended to 1.4244 area is expected.
GBP-CHF	While below 1.6536 - 1.6606 it is more likely to fall further towards 1.6416 or 1.6365. Premature rise above 1.6606 could see it rising above 1.6708 zone.
GBP-JPY	Currently uptrend should end around 138.30 - 138.21 area. A correction down to below 136.07 is expected. A rise above 139.01 will abort the expected correction.
GBP-CAD	Current rise seems to be over near 1.6262 or 1.6306 for a retracement towards 1.6218 - 1.6190 area.
GBP-AUD	It should trade higher to 1.7464 while 1.7363 or 1.7325 offers support. Stop loss below 1.7286 zone.
CAD-JPY	While below 84.76 - 85.06 it is more likely to fall further towards 84.21 or 83.96. Premature rise above 85.06 could see it rising above 85.56 zone.
NZD-JPY	While below 63.55 - 63.84 it is more likely to fall further towards 63.05 or 62.83. Premature rise above 63.84 could see it rising above 64.28 zone.
AUD-JPY	Currently uptrend should end around 79.56 - 79.54 area. A correction down to below 78.31 is expected. A rise above 80.04 will abort the expected correction.
XAG-USD	One move lower to 18.04 or 17.72 is anticipated while below 18.47 - 18.63 area. Stop loss above 18.89 zone.
XAU-USD	While below 1186.68 - 1190.67 it is more likely to fall further towards 1178.75 or 1174.82. Premature rise above 1190.67 could see it rising above 1198.53 zone.

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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