Daily Market Comments - Thursday 19 August 2010

[za3eem]

EUR-USD It looks more likely that it would rise to 1.2909 - 1.2965 from 1.2838 or 1.2810. After which a downside move is expected.

USD-CHF Currently uptrend should end around 1.0439 - 1.0457 area. A correction down to 1.0405 - 1.0390 is expected. A rise above 1.0488 will abort the expected correction.

GBP-USD It should be subject to more sell off towards 1.5499 or 1.5404. Corrective upward swings should face resistance around 1.5597 area. A break of 1.5783 is bullish.

USD-JPY Currently uptrend should end around 85.57 - 85.70 area. A correction down to 85.33 - 85.21 is expected. A rise above 85.93 will abort the expected correction.

USD-CAD It may meet resistance in 1.0295 - 1.0303 zone for a drift down to 1.0263 zone* after which bounce to 1.0334 is anticipated.

NZD-USD Resistances lie around 0.7169 and 0.7191. It should test lower towards 0.7101 zone. A clear break of 0.7139 would be bearish.

AUD-USD There is bearish potential for a fall to 0.8951 while 0.9005 - 0.9021 resist. After this fall a recovery up to 0.9021 or 0.9037 is expected.

EUR-JPY It looks more likely that it would rise to 110.26 - 110.68 from 109.71 or 109.50. After which a downside move is expected.

EUR-CHF A drift down to 1.3357 from 1.3400 - 1.3423 area could be followed by a consolidation/corrective activity.

EUR-GBP There are initial signs of a good corrective recovery towards 0.8262 or even 0.8275. Supports at 0.8232 and 0.8215 zone.

EUR-CAD It may meet resistance in 1.3233 - 1.3251 zone for a drift down to 1.3196 zone* after which bounce to 1.3287 is anticipated.

EUR-NZD Current fall is near an end of wave around 1.7904 zone* a rally should then procede to above 1.8076. Fall below 1.7829 would cancel this scenario.

EUR-AUD It should trade higher to 1.4354 while 1.4281 or 1.4259 offers support. Stop loss below 1.4236 zone.

GBP-CHF It may attempt a test higher to 1.6297 - 1.6350 after which weakness may set it to a drift down to 1.6151 limit.

GBP-JPY It may attempt a test higher to 133.51 - 133.86 after which weakness may set it to a drift down to 132.57 limit.

GBP-CAD It may meet resistance in 1.6055 - 1.6066 zone for a drift down to 1.5989 zone* after which bounce to 1.6131 is anticipated.

GBP-AUD It may attempt a test higher to 1.7373 - 1.7435 after which weakness may set it to a drift down to below 1.7237 limit.

CAD-JPY One move lower to 82.62 or 82.24 is anticipated while below 83.10 - 83.29 area. Stop loss above 83.58 zone.

NZD-JPY While below 61.23 - 61.42 it is more likely to fall further towards 60.86 or 60.70. Premature rise above 61.42 could see it rising above 61.76 zone.

AUD-JPY While above 76.66 - 76.35 zone a corrective upmove could test 77.16 or 77.36. After which it should resume its downtrend.

XAG-USD It may attempt a test higher to 18.47 - 18.57 after which weakness may set it to a drift down to 18.18 limit.

XAU-USD It should try higher up to 1231.00 - 1235.36. Entry point 1226.65 or 1223.67. After this rise* a correction is expected.

[aa2227]

thank u