Rosentray's Daily Commentary

[rosentray]

EUR/USD has been consolidating in the past few days with price caught in between 1.1280 and 1.1180. The pair is yet to pick a direction if either ways give in to the pressure caused by market participants.

 

[rosentray]

USD/JPY is close to a possible break out. If it manages to push above 103.50 which is seen as immediate resistance, the pair might attempt to reach the last high at 104.30. In a day with no news, technical bulls might be in for the rally.

 

[rosentray]

EUR/USD continues its sideways movement in the early European trading hours today. The pair is currently at 1.1227 and appears to be consolidating before key reports tomorrow. CPI will have an impact on the pair and if it's good we might see strengthening of expectations for a rate hike this month.

 

[rosentray]

Silver is trading unsteadily gravitating towards 18.80. The metal has been really difficult to predict these last days with price aggressively fluctuating between 18.70 and 19.30. The best strategy now would be to wait for the US news tomorrow and then possibly make a move.

 

[rosentray]

EUR/USD is trading in the range between 1.1240 and 1.1230 in anticipation of the CPI data scheduled for later tomorrow. The data would most likely give a hint whether the FED will be raising the rate this month.

 

[rosentray]

Important news to watch for today:
USD Consumer Price Index (YoY) (AUG) Expected 1.0% Previous 0.8%
USD Consumer Price Index Ex Food & Energy (YoY) (AUG) Expected 2.2% Previous 2.2%
USD U. of Michigan Confidence (SEP P) Expected 90.6 Previous 89.8

 

[rosentray]

Gold is trading to the upside in today's session after it met support on Friday in the face of $1,306. The precious metal reacted positively to the level and bulls managed to bounce off the bottom. Price is now $1,316.

 

[rosentray]

EUR/USD is trying to recover from the fall that occurred on Friday. The pair went from 1.1248 to a low of 1.1149 in one day. Today, EUR/USD is trading slightly up gravitating towards 1.1164. Have in mind that on Wednesday the FED is going to announce whether they are raising rates this month.

 

[rosentray]

The EUR/USD is trading steadily in today's session as market participants anticipate the big decision on Wednesday. Low volatility can be expected in the couple of days before the FED decides whether they are raising the interest rate this month. CMP 1.1180.

 

[rosentray]

GBP/NZD broke the support level and is now trading at an all time low at 1.7642. The pair is now very vulnerable to bearish attacks so if you want to open any longs, make sure you use either light volume or tight stops.