Daily Market Comments - Wednesday 15 December 2010

[RTFX-Trading]

EUR-USD	A corrective rise should ideally test 1.3463 or even higher than 1.3548. Supports are at 1.3273. Stop loss below 1.3278 zone.
USD-CHF	It may meet resistance in 0.9616 - 0.9643 zone for a drift down to below 0.9542 zone.
GBP-USD	Prefer a fall to 1.5757 or 1.5706. Then a correction to 1.5842 is anticipated. A clear break of 1.5637 is again bearish.
USD-JPY	It should test 84.37 area after which a sell off down to 83.08 or extended to 82.49 area is expected.
USD-CAD	Market should pop up towards 1.0086 or 1.0105 this bullish scenario would be damaged if 1.0049 - 1.0045 zone is broken, a severe break down could then occur.
NZD-USD	Resistances lie around 0.7546 and 0.7564. It should test lower towards 0.7481 zone. A clear break of 0.7482 would be bearish.
AUD-USD	One move lower to 0.9945 or 0.9901 is anticipated while below 1.0010 - 1.0032 area. Stop loss above 1.0074 zone.
EUR-JPY	One move lower to 111.57 or 111.22 is anticipated while below 112.06 - 112.23 area. Stop loss above 112.55 zone.
EUR-CHF	Market should not go lower than 1.2834 - 1.2778. After this move down it should go up to 1.2920 - 1.2950 area.
EUR-GBP	One move lower to 0.8439 or 0.8397 is anticipated while below 0.8495 - 0.8515 area. Stop loss above 0.8550 zone.
EUR-CAD	There are initial signs of a good corrective recovery towards 1.3519 or even 1.3544. Supports at 1.3453 and 1.3412 zone.
EUR-NZD	Currently uptrend should end around 1.7841 - 1.7903 area. A correction down to 1.7725 - 1.7673 is expected. A rise above 1.8009 will abort the expected correction.
EUR-AUD	While above 1.3388 - 1.3349 zone a corrective dip could test 1.3427 or 1.3469.
GBP-CHF	Market should not go lower than 1.4976. After this move down it should go up to 1.5312 area.
GBP-JPY	It is likely to fall towards 131.64 - 131.29 as its corrective rally could falter in 132.33 - 132.67 area. Stop above 133.36 zone.
GBP-CAD	Prefer a fall to 1.5858 or 1.5800. Then a correction to 1.5951 is anticipated. A clear break of 1.5729 is again bearish.
GBP-AUD	It looks set to visit further lower territory down to around 1.5776 - 1.5717. Its corrective attempts should fail ahead of 1.5873 - 1.5910. Stop loss above 1.6029 zone.
CAD-JPY	It may attempt a test higher to 83.21 - 83.51 after which weakness may set it to a drift down to below 82.55 limit.
NZD-JPY	No comment!
AUD-JPY	Uptrend is still intact in a triangle configuration. It should continue to rally to 83.92 or 83.88 if support around 83.38 hold. After which a pullback to 83.38 - 83.23 zone is possible.
XAG-USD	There are initial signs of a good corrective recovery towards 29.71 or even 29.88. Supports at 29.34 and 29.13 zone.
XAU-USD	Resistances lie around 1402.17 and 1405.55. It should test lower towards 1389.35 zone. A clear break of 1388.00 would be bearish.

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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