Daily Market Comments - Wednesday 13 May 2009

[RTFX-Trading]

EUR-USD	A correction down to 1.3572 or lower is now expected from 1.3677 or 1.3716. A break above 1.3783 is needed to turn bullish.
USD-CHF	It should trade higher to 1.1107 or above 1.1157 in extention. Supports at 1.1030 and 1.1005. Stop loss below 1.0953 zone.
GBP-USD	Currently uptrend should end around 1.5312 - 1.5392 area. A correction down to below 1.5114 is expected. A rise above 1.5511 will abort the expected correction.
USD-JPY	It looks set to visit further lower territory down to around 96.2750 - 95.7533. Its corrective attempts should fail ahead of 96.2750 - 97.4833. Stop loss above 98.5267 zone.
EUR-JPY	It is likely to fall towards 131.1900 - 130.3900 as its corrective rally could falter in 132.6050 - 133.2200 area. Stop above 134.8200 zone.
EUR-CHF	It should trade higher to 1.5101 while 1.5082 or 1.5076 offers support. Stop loss below 1.5069 zone.
EUR-GBP	It looks more likely that it would rise to 0.8997 - 0.9058 from 0.8924 or 0.8894. After which a downside move is expected.
USD-CAD	Strength can extend to 1.1661 or even 1.1701 as declines are expected to find support at 1.1621 or 1.1583. Stop Loss below 1.1546 zone.
NZD-USD	It should trade higher to 0.6115 while 0.6011 or 0.5983 offers support. Stop loss below 0.5907 zone.
AUD-USD	It should be subject to more sell off towards 0.7582 or 0.7512. Corrective upward swings should face resistance around 0.7710 area. A break of 0.7750 is bullish.
XAG-USD	Current rise seems to be over near 14.2900 or 14.4333 for a retracement towards 14.1467 - 14.0500 area.
XAU-USD	Current rise seems to be over near 923.7350 or 927.6166 for a retracement towards 919.8533 - 917.6050 area.

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