Rosentray's Daily Commentary

[rosentray]

EUR/USD is trading lower today after the speech of FED's Yellen. Key remarks highlighted in her talk were the strengths of the US economy and the reason for such a low jobs report. She emphasized how traders and investors should not overreact to a single report. This appears to have worked, as the US dollar is stronger today.

 

[rosentray]

USD/JPY recovered quickly after a low of 106.50 made on Friday. The pair reached 107.90 earlier today and is not trading at 107.53. Should we see a break above 108 we can expect further continuation of the uptrend movement.

 

[rosentray]

EUR/USD is trading higher today due to lack of fresh news and the reaction of the latest jobs report. Price is currently 1.1371 and market sentiment on the short term is bullish.

 

[rosentray]

USD/CAD posts new losses today and is about to end another session in the red. First support zone remains 1.27. Below 1.2650 we might see further sell off. If 1.27 holds the price, then we are in for another bull run.

 

[rosentray]

The EUR/USD lost around 100 pips in today's session. Traders and investors were drawn again in the US dollar and the pair marked a low of 1.1306. Main trend on the short-term is yet to be determined.

 

[rosentray]

Gold climbed to above $1,265 in today's session after giving back some $5. Traders and investors saw this as an opportunity to buy the dip and Gold keeps getting higher and higher.

 

[rosentray]

USD/CAD marks a somehow positive day after yesterday's low of 1.2654. Price is now 1.2734 with a high of 1.2766. Good support zone is 1.27.

 

[rosentray]

USD/JPY kept depreciating today after the effect of technicals. Bears saw an opportunity to sell the market close to 111 and price is now 106.55. There is a chance of a double bottom at 105.54.

 

[rosentray]

EUR/USD marks a positive day today after going to 1.1234 and reaching a high of 1.1304. The pair is now trading at 1.1280 and as it appears, it is consolidating between the low of 1.11 and the high of 1.14.

 

[rosentray]

Gold is trading higher in today's session after opening at $,1274 and reaching a high of $1,285. Currently the precious metal is trading close to daily high. We can expect a decline from this level, as we are in the resistance. If the level holds, then depreciation could be at hand.