Daily Market Comments - Friday 10 December 2010

[RTFX-Trading]

EUR-USD	One more dip to 1.3202 or 1.3161 is likely followed by a grind higher to 1.3281 - 1.3319. After which it can resume its downtrend.
USD-CHF	No comment!
GBP-USD	Market should pop up towards 1.5805 or 1.5836 this bullish scenario would be damaged if 1.5768 - 1.5754 zone is broken, a severe break down could then occur.
USD-JPY	It looks more likely that it would rise to 84.08 - 84.40 from 83.64 or 83.48. After which a downside move is expected.
USD-CAD	Market should hold major support at 1.0072 before rising towards 1.0133 or even 1.0160 limit.
NZD-USD	It should test 0.7490 area after which a sell off down to 0.7453 or extended to 0.7420 area is expected.
AUD-USD	Current upmove should be ended around 0.9860 - 0.9889. Any correction consolidation should find support in 0.9806 - 0.9780 zone.
EUR-JPY	Current move should be supported in 110.74 - 110.43 zone for a rise to 112.10. A break below 109.98 opens the way down.
EUR-CHF	It is likely to fall towards 1.2965 - 1.2910 unless a corrective rally breaks the 1.3060 resistance. Stop above 1.3087 zone.
EUR-GBP	It may attempt a test higher to 0.8406 - 0.8420 after which weakness may set it to a drift down to below 0.8366 limit.
EUR-CAD	One more dip to 1.3342 or 1.3304 is likely followed by a grind higher to 1.3417 - 1.3455. After which it can resume its downtrend.
EUR-NZD	There are initial signs of a good corrective recovery towards 1.7741 or even 1.7770. Supports at 1.7669 and 1.7626 zone.
EUR-AUD	It is likely to fall towards 1.3423 - 1.3379 as its corrective rally could falter in 1.3505 - 1.3545 area. Stop above 1.3631 zone.
GBP-CHF	Market should pop up towards 1.5552 or 1.5578 this bullish scenario would be damaged if 1.5492 - 1.5458 zone is broken, a severe break down could then occur.
GBP-JPY	Current move should be supported in 131.92 - 131.58 zone for a rise to 133.42. A break below 131.08 opens the way down.
GBP-CAD	Difficult to predict the next move. If first down it should hold 1.5900 or 1.5865. If first up it should face resistance in 1.5971 - 1.6006 zone to 1.5865 zone.
GBP-AUD	There is bearish potential for a fall to 1.5957 while 1.6057 - 1.6094 resist. After this fall a recovery up to 1.6094 or 1.6131 is expected.
CAD-JPY	Preferred view is for a fall to 82.81 - 82.67 while 83.05 - 83.16 area resists. A clear break of 83.44 would be bullish.
NZD-JPY	It is likely to fall towards 62.40 - 62.09 unless a corrective rally breaks the 62.93 resistance. Stop above 63.08 zone.
AUD-JPY	Preferred view is for a fall to 82.26 - 82.08 while 82.61 - 82.77 area resists. A clear break of 83.14 would be bullish.
XAG-USD	It should trade lower to 28.27. Resistances are at 29.11 and 29.47. A break of 29.94 is bullish, confirmed by a close above 29.06.
XAU-USD	One more dip to 1383.65 or 1380.00 is likely followed by a grind higher to 1390.85 - 1394.40. After which it can resume its downtrend.

Trading Desk, RTFX Ltd
16th September Square Mosta, MST 1180 Malta
Tel: +356 23 310 000 | Fax: +356 21 412 458

RTFX Ltd is licensed to conduct investment services business by the Malta Financial Services Authority. This information does not constitute an offer or solicitation and is provided for information purposes only. This information shall not be deemed to constitute advice and should not be relied on as such to enter into a transaction or for any investment decision. Any opinions expressed in this document represent the views of RTFX Ltd at the time of preparation. They are thus subject to change without notice. RTFX Ltd believes that the information contained herein is accurate as at the date of publication. However, no warranty of accuracy is given by RTFX Ltd and no liability in respect of any errors or omissions, including any third party liability, are accepted by RTFX Ltd or any director, officer or employees.