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RTFX Daily Forex Market comments : 03/05/2013


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#1 ⇑ Haut ⇑ 05-03-2013 08:25:45

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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.   

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