Daily Market Comments - Friday 24 April 2009

[RTFX-Trading]

EUR-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.3222 or 1.3276 if support around 1.3095 hold. After which a pullback to 1.3095 - 1.3062 zone is possible.
USD-CHF	Market should meet resistance at 1.1560. We expect then an extended move down to 1.1470 - 1.1335 area.
GBP-USD	It should trade higher to 1.4829 while 1.4636 or 1.4582 offers support. Stop loss below 1.4527 zone.
USD-JPY	It is likely to attempt nearer support at 97.5833 for extending further to below 97.2067 while below 97.9600 - < FN5> area. Rise above 98.3833 would dampen this bearish expectation.
EUR-JPY	Market looks set for gains towards 129.5533 or above in extension. Dips should find support at 128.1767 - 127.7800 zone.
EUR-CHF	While below 1.5136 or 1.5160 it could fall towards below 1.5075 or 1.5028. After which a corrective/consolidation activity is expected.
EUR-GBP	There are initial signs of a good corrective recovery towards 0.8963 or even 0.8981. Supports at 0.8920 and 0.8894 zone.
USD-CAD	Market should meet resistance at 1.2291. We expect then an extended move down to 1.2216 - 1.2044 area.
NZD-USD	It may attempt a test higher to 0.5622 - 0.5653 after which weakness may set it to a drift down to below 0.5555 limit.
AUD-USD	It should trade higher to 0.7192 while 0.7111 or 0.7089 offers support. Stop loss below 0.7066 zone.
XAG-USD	Strength can extend to 12.8200 or even higher than 12.9967 as declines are expected to find support at 12.5300 or 12.4167. A fall below 12.0633 could turn it bearish.
XAU-USD	Strength can extend to 906.7251 or even higher than 912.4167 as declines are expected to find support at 897.0651 or 893.0968. A fall below 881.7134 could turn it bearish.

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