Daily Market Comments - Thursday 07 May 2009

[RTFX-Trading]

EUR-USD	It should test 1.3382 area after which a sell off down to 1.3262 or extended to 1.3190 area is expected.
USD-CHF	There are initial signs of a good corrective recovery towards 1.1349 or even 1.1370. Supports at 1.1300 and 1.1272 zone.
GBP-USD	Market looks set for gains towards 1.5194 or above in extension. Dips should find support at 1.5093 - 1.5064 zone.
USD-JPY	It should see a sell off to below 97.8133 while 98.4467 area curtails its upside. A break beyond 98.9433 will abort the downside.
EUR-JPY	It is likely to fall towards 128.5667 unless a corrective rally breaks the 131.7600 resistance. Stop above 132.3933 zone.
EUR-CHF	It should trade higher to above 1.5111 while 1.5084 offer support. Minor support at 1.5071. Stop Loss below 1.5031 zone.
EUR-GBP	Market should not go lower than 0.8774. After this move down it should go up to 0.8806 - 0.8829 area.
USD-CAD	While below 1.1655 - 1.1712 it might drop to 1.1599 or below 1.1541 zone.
NZD-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 0.5849 or 0.5922 if support around 0.5816 hold. After which a pullback to 0.5816 - 0.5795 zone is possible.
AUD-USD	Market looks set for gains towards 0.7545 or above in extension. Dips should find support at 0.7440 - 0.7409 zone.
XAG-USD	While below 13.9500 it is more likely to fall further towards 13.5100 or 13.4000. Premature rise above 13.9500 could see it rising above 14.1700 zone.
XAU-USD	Current upmove should end around 912.1439 - 917.3899 area. A correction down to below 900.1498 or even 889.1299 is expected. A rise above 923.6100 will abort the expected correction.

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