Rosentray's Daily Commentary

[rosentray]

EUR/USD is trading in the red so far today with price making a low of 1.1182 only to quickly recover and go back above 1.12. Price is now 1.1210 and bulls need to go above 1.1280 in order for them to accumulate momentum and push higher.

 

[rosentray]

Gold tumbled down today to a low of $1,322 and is now trading slightly higher at $1,325. The precious metal was trading at a high of $1,342 on Monday and has been depreciating since then. First support is seen at $1,316, while first resistance is $1,340.

 

[rosentray]

USD/JPY is trading higher due to lower than expected Japan data. The pair went from a low of 100.10 to a high of 101.75. Main trend continues to remain bearish. Have in mind the JPY National Consumer Price Index scheduled for tomorrow.

 

[rosentray]

EUR/USD is trading in the range of 1.1250 and 1.1200. The pair is caught in consolidation due to mixed signals from both parties. In less than 30 mins we have important EU data that may create volatility in the pair.

 

[rosentray]

EUR/USD continues to gravitate towards the 1.1220 level. The pair made a high of 1.1285 in the beginning of the week and since then it has been caught in the range of 1.1250 and 1.1200.

 

[rosentray]

Gold has been trading in a tightening range since it made a high of $1,374. The precious metal has been bearish since then forming a zigzag movement going to highs and lows creating a decent bearish channel. Current market price $1,323.

 

[rosentray]

EUR/USD is trading in consolidation today as the pair seems to gravitate towards the 1.1230 level. Light volumes usually indicate that a move is either over or just accumulating new force to keep pushing in the same direction. First bull target 1.1280.

 

[rosentray]

GBP/USD made a new low today at 1.2845. The pair is now trading at 1.2876 and seems close to reaching the 30-year low at 1.2795.

 

[rosentray]

EUR/USD is trading lower today after yesterday's loss. The pair continues its move down making a low of 1.1190. It appears that bears are regaining control over the pair. First bear target can be expected at 1.1152. First resistance can be expected at 1.1242.

 

[rosentray]

Gold has traded down since last week when its price was near to $1,345. The precious metal continues to depreciate and it seems that Gold is losing momentum and fast. Gold has passed the support line on the long-term at $1,313. Current market price: $1,311.