Daily Market Comments - Monday 11 May 2009

[RTFX-Trading]

EUR-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.3699 or 1.3725 if support around 1.3533 hold. After which a pullback to 1.3533 - 1.3484 zone is possible.
USD-CHF	Market should not go lower than 1.1062 - 1.0970. After this move down it should go up to 1.1202 - 1.1249 area.
GBP-USD	It should trade higher to 1.5328 while 1.5147 or 1.5102 offers support. Stop loss below 1.5057 zone.
USD-JPY	It looks more likely that it would rise to 99.2367 - 100.0133 from 98.3950 or 98.0067. After which a downside move is expected.
EUR-JPY	Uptrend is still intact in a triangle configuration. It should continue to rally to 135.2866 or 134.9200 if support around 133.5400 hold. After which a pullback to 133.5400 - 133.1700 zone is possible.
EUR-CHF	There is bearish potential for a fall to 1.5040 while 1.5098 - 1.5117 resist. After this fall a recovery up to 1.5117 or 1.5137 is expected.
EUR-GBP	One move lower to 0.8900 or 0.8857 is anticipated while below 0.8958 - 0.8980 area. Stop loss above 0.9017 zone.
USD-CAD	Market should not go lower than 1.1492 - 1.1412. After this move down it should go up to 1.1613 - 1.1653 area.
NZD-USD	While below 0.6041 - 0.6085 it is more likely to fall further towards 0.5968 or 0.5939. Premature rise above 0.6085 could see it rising above 0.6143 zone.
AUD-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 0.7762 or 0.7757 if support around 0.7632 hold. After which a pullback to 0.7632 - 0.7595 zone is possible.
XAG-USD	A correction down to 13.8333 or lower is now expected from 14.0250 or 14.1033. A break above 14.2167 is needed to turn bullish.
XAU-USD	It should find support in 910.4601 - 907.3001 area for a rally to 928.1600. Unexpected fall below 899.0801 will dent this bullish view.

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