Daily Market Comments - Friday 08 May 2009

[RTFX-Trading]

EUR-USD	Currently uptrend should end around 1.3430 - 1.3489 area. A correction down to 1.3321 - 1.3272 is expected. A rise above 1.3588 will abort the expected correction.
USD-CHF	It looks more likely that it would rise to 1.1400 - 1.1495 from 1.1279 or 1.1231. After which a downside move is expected.
GBP-USD	null
USD-JPY	Strength can extend to 99.4400 or even 99.8266 as declines are expected to find support at 99.0533 or 98.6950. Stop Loss below 98.3366 zone.
EUR-JPY	Current rise seems to be over near 133.1450 or 133.9533 for a retracement towards 132.3367 - 131.7200 area.
EUR-CHF	Current upmove should be ended around 1.5156 - 1.5183. Any correction consolidation should find support in 1.5107 - 1.5084 zone.
EUR-GBP	It should trade higher to 0.8979 while 0.8872 or 0.8840 offers support. Stop loss below 0.8808 zone.
USD-CAD	If market stays below 1.1731 a fall to 1.1632 is expected. If market breaks the point 1.1764 it could reach the sky.
NZD-USD	While below 0.5949 - 0.5990 it is more likely to fall further towards 0.5868 or 0.5827. Premature rise above 0.5990 could see it rising above 0.6071 zone.
AUD-USD	While below 0.7578 - 0.7617 it is more likely to fall further towards 0.7499 or 0.7459. Premature rise above 0.7617 could see it rising above 0.7696 zone.
XAG-USD	Should fall around 13.6333 while below 13.8500 - 14.0050 zone. Then a recovery up to above 14.0050 is expected.
XAU-USD	A corrective rise should ideally test 921.2766 or even higher than 931.8033. Supports are at 897.8101. Stop loss below 898.3232 zone.

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