Daily Market - Friday 04 September 2009

EUR-USD There are initial signs of a good corrective recovery towards 1.4299 or even 1.4321. Supports at 1.4243 and 1.4209 zone.

USD-CHF It should test 1.0695 area after which a sell off down to 1.0570 or extended to 1.0514 area is expected.

GBP-USD Resistances lie around 1.6365 and 1.6408. It should test lower towards 1.6232 zone. A clear break of 1.6301 would be bearish.

USD-JPY It may attempt a test higher to 92.7050 - 92.9567 after which weakness may set it to a drift down to 92.1267 limit.

USD-CAD It is likely to fall towards 1.0993 - 1.0967 as its corrective rally could falter in 1.1046 - 1.1073 area. Stop above 1.1126 zone.

NZD-USD Strength can extend to 0.6804 or even 0.6831 as declines are expected to find support at 0.6776 or 0.6749. Stop Loss below 0.6721 zone.

AUD-USD While below 0.8415 - 0.8448 it is more likely to fall further towards 0.8359 or 0.8337. Premature rise above 0.8448 could see it rising above 0.8493 zone.

EUR-JPY It should trade higher to 132.6667 while 131.9133 or 131.5900 offers support. Stop loss below 131.2667 zone.

EUR-CHF It should be subject to more sell off towards 1.5134 or 1.5127. Corrective upward swings should face resistance around 1.5152 area. A break of 1.5173 is bullish.

EUR-GBP It looks set to visit further lower territory down to around 0.8726 - 0.8706. Its corrective attempts should fail ahead of 0.8726 - 0.8770. Stop loss above 0.8809 zone.

GBP-CHF Uptrend is still intact in a triangle configuration. It should continue to rally to 1.7391 or 1.7393 if support around 1.7313 hold. After which a pullback to 1.7313 - 1.7288 zone is possible.

GBP-JPY Currently uptrend should end around 151.4650 - 152.1467 area. A correction down to 150.2950 - 149.8067 is expected. A rise above 153.1233 will abort the expected correction.

NZD-JPY It should trade higher to 63.2933 while 62.5767 or 62.3150 offers support. Stop loss below 62.0533 zone.

AUD-JPY Current rise seems to be over near 77.8900 or 78.3300 for a retracement towards 77.4500 - 77.2050 area.

XAG-USD Uptrend is still intact in a triangle configuration. It should continue to rally to 16.7067 or 16.4867 if support around 15.9133 hold. After which a pullback to 15.9133 - 15.7300 zone is possible.

XAU-USD One move lower to 978.6000 or 965.2000 is anticipated while below 994.7700 - 1001.4700 area. Stop loss above 1010.9400 zone.