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RTFX Daily Forex Market comments : 03/05/2013
EUR – USD
Market should hold major support at 1.2970 before rising towards 1.3044 or even 1.3062 limit.
USD – CHF
Our preferred outlook is for a drift down to 0.9398 or below 0.9386. Resistances are at 0.9409 and 0.9419. A rise above 0.9430 would delay but not abort this expected fall.
GBP – USD
It should test 1.5229 area after which a sell off down to 1.5038 or extended to 1.4960 area is expected.
USD – JPY
Strength can extend to 93.75 or even higher than 94.31 as declines are expected to find support at 93.33. A fall below 93.20 could turn it bearish.
USD – CAD
Our preferred outlook is for a drift down to 1.0258 or below 1.0244. Resistances are at 1.0273 and 1.0284. A rise above 1.0299 would delay but not abort this expected fall.
NZD – USD
It may attempt a test higher to 0.8278 - 0.8307 after which weakness may set it to a drift down to below 0.8221 limit.
AUD – USD
Market should hold major support at 1.0111 before rising towards 1.0229 or even 1.0263 limit.
EUR – JPY
Uptrend is still intact. It should continue to rally to 121.88 or 122.14 if supports at 121.63 area hold. Then we anticipate a pullback to 121.63 - 121.45 zone.
EUR – CHF
Decline should be supported around 1.2238 - 1.2220 zone for rally to above 1.2275. A clear break of 1.2220 will damage this expected rally.
EUR – GBP
Bullish reaction to above 0.8651 is anticipated from 0.8618 - 0.8616 zone. Stop loss below 0.8599 zone.
EUR – CAD
One more dip to 1.3370 - 1.3354 is likely followed by a grind higher to 1.3415.
EUR – NZD
Prefer a fall to 1.5734 or 1.5684. Then a correction to 1.5810 is anticipated. A clear break of 1.5632 is again bearish.
EUR – AUD
Resistances lie around 1.2821 and 1.2843. It should test lower towards 1.2731 zone. A clear break of 1.2708 would be bearish.
GBP – CHF
It should trade lower to 1.4173. Resistances are at 1.4248 and 1.4274. A break of 1.4323 is bullish, confirmed by a close above 1.4291.
GBP – JPY
Currently uptrend should end around 141.37 - 141.67 area. A correction down to below 140.58 is expected. A rise above 142.04 will abort the expected correction.
GBP – CAD
It may attempt a test higher to 1.5543 - 1.5577 after which weakness may set it to a drift down to below 1.5459 limit.
GBP – AUD
It should trade higher to 1.4881 while 1.4805 or 1.4777 offers support. Stop loss below 1.4750 zone.
CAD – JPY
Uptrend is still intact. It should continue to rally to 91.08 or 91.30 if supports at 90.87 area hold. Then we anticipate a pullback to 90.87 - 90.72 zone.
NZD – JPY
It should try higher up to 77.39 - 77.68. Entry point 77.09 or 76.94. After this rise, a correction is expected.
AUD – JPY
Corrective dips should ideally halt near 94.88 or 94.67 for one more thrust upwards towards 95.42 - 95.75 area or 96.18 in extention. Fall below 94.01 puts it back on a downward path.
XAG – USD
There are initial signs of a good corrective recovery towards 28.78 or even 28.89. Supports at 28.51 and 28.34 zone.
XAU – USD
There is bearish potential for a fall to 1571.76 - 1567.35 while 1576.17 - 1579.42 resist. After this fall a recovery up to 1579.42 or 1582.68 is expected.