Daily Market Comments - Tuesday 05 May 2009

[RTFX-Trading]

EUR-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.3442 or 1.3561 if support around 1.3348 hold. After which a pullback to 1.3348 - 1.3309 zone is possible.
USD-CHF	Overall structure is bearish. Decelerating momentum could attract it towards supports at 1.1253 or 1.1205. Major support is clustered around 1.1120 limit.
GBP-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.5062 or 1.5145 if support around 1.4959 hold. After which a pullback to 1.4959 - 1.4927 zone is possible.
USD-JPY	While below 99.0333 or 99.1850 it could fall towards below 98.4967 or 98.1933. After which a corrective/consolidation activity is expected.
EUR-JPY	While below 133.1000 it is more likely to fall further towards 131.8900 or 131.5600 level.
EUR-CHF	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.5116 or 1.5140 if support around 1.5097 hold. After which a pullback to 1.5097 - 1.5087 zone is possible.
EUR-GBP	It should be subject to more sell off towards 0.8893 or 0.8860. Corrective upward swings should face resistance around 0.8947 area. A break of 0.8965 is bullish.
USD-CAD	Overall structure is bearish. Decelerating momentum could attract it towards supports at 1.1675 or 1.1664. Major support is clustered around 1.1547 limit.
NZD-USD	One move lower to 0.5723 or 0.5687 is anticipated while below 0.5766 - 0.5784 area. Stop loss above 0.5809 zone.
AUD-USD	A correction down to 0.7339 followed by a move up to 0.7406 or 0.7436. A break above 0.7472 would accelerate this bullish move.
XAG-USD	Currently uptrend should end around 13.4200 - 13.3133 area. A correction down to below 12.6133 is expected. A rise above 13.5867 will abort the expected correction.
XAU-USD	Current rise seems to be over near 904.7900 or 911.3367 for a retracement towards 898.2433 - 893.6400 area.

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