Daily Market Comments - Thursday 18 November 2010

[RTFX-Trading]

EUR-USD	It may attempt a test higher to 1.3547 - 1.3576 after which weakness may set it to a drift down to below 1.3471 limit.
USD-CHF	It looks more likely that it would rise to 0.9967 - 1.0019 from 0.9899 or 0.9873. After which a downside move is expected.
GBP-USD	It should test 1.5919 area after which a sell off down to 1.5859 or extended to 1.5810 area is expected.
USD-JPY	It looks more likely that it would rise to 83.48 - 83.77 from 83.11 or 82.96. After which a downside move is expected.
USD-CAD	Current rise should end around 1.0278. Objectives of this downmove are 1.0197 or 1.0149. A rise above 1.0310 is again bullish.
NZD-USD	It may attempt a test higher to 0.7715 - 0.7742 after which weakness may set it to a drift down to 0.7648 limit.
AUD-USD	It may attempt a test higher to 0.9816 - 0.9846 after which weakness may set it to a drift down to below 0.9737 limit.
EUR-JPY	Market should not go lower than 112.43 - 112.31. After this move down it should go up to 112.78 - 113.02 area.
EUR-CHF	While below 1.3413 - 1.3422 it could fall towards below 1.3340. Rise above 1.3441 could activate some bullish pattern.
EUR-GBP	Uptrend is still intact in a triangle configuration. It should continue to rally to 0.8519 or 0.8520 if support around 0.8498 hold. After which a pullback to 0.8498 - 0.8490 zone is possible.
EUR-CAD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.3912 or 1.3901 if support around 1.3832 hold. After which a pullback to 1.3832 - 1.3812 zone is possible.
EUR-NZD	It looks more likely that it would rise to 1.7643 - 1.7724 from 1.7545 or 1.7504. After which a downside move is expected.
EUR-AUD	It looks more likely that it would rise to 1.3854 - 1.3899 from 1.3792 or 1.3769. After which a downside move is expected.
GBP-CHF	Prefer a fall to 1.5754 or 1.5716. Then a correction to 1.5817 is anticipated. A clear break of 1.5663 is again bearish.
GBP-JPY	It might hold above 132.28 or 132.04 for a rise towards above 132.80. Stop loss below 131.76 zone.
GBP-CAD	The current rise has limited upside potential between 1.6307 and 1.6340. A correction down to 1.6253 - 1.6232 zone is expected. Then if 1.6232 area hold it should resume his uptrend. Needs to cross below 1.6166 to wriggle out of this bullish setup.
GBP-AUD	No comment!
CAD-JPY	Support at 81.17 or 80.97 should hold the downside for a correction to above 81.58 zone.
NZD-JPY	It may attempt a test higher to 64.17 - 64.32 after which weakness may set it to a drift down to 63.77 limit.
AUD-JPY	It may attempt a test higher to 81.60 - 81.75 after which weakness may set it to a drift down to below 81.20 limit.
XAG-USD	It should trade higher to 26.02 while 25.53 or 25.34 offers support. Stop loss below 25.15 zone.
XAU-USD	It may meet resistance in 1336.12 - 1337.42 zone for a drift down to 1329.81 zone, after which bounce to 1343.73 is anticipated.

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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