Rosentray's Daily Commentary

[rosentray]

The EUR/USD is losing some ground in today's session but it is still trading in the range of its yesterday's high and low. The pair is now at 1.1054, down from 1.1080.

 

[rosentray]

Silver is in the red in today's trading. After it reached a high of 21.16, the metal started going downhill and is now trading at 19.90. Is is expected that it would continue depreciating with first resistance at 19.20

 

[rosentray]

The EUR/USD reached a low of 1.0981 in today's session and recovered to a current price of 1.1004. Major level of support is seen at 1.0955.

 

[rosentray]

Gold lost more than $20 in today's session after market participants took profits from the bull run that started a few weeks ago at $1,200/oz. Price was highest today at $1,338 and is currently trading at $1,317 with a low of $1,313.50. Bearish momentum is expected to continue until the end of the week.

 

[rosentray]

Not much is happening in the EUR/USD in today's session although we saw a mild recovery towards the range at 1.1040. The pair reached a low of 1.1003 earlier today and made a high of 1.1047. Bearish trend on the long-term remains steady.

 

[rosentray]

NZD/CAD reached a 1-month low earlier today going below 0.91 with a low of 0.9085. The pair recovered to a current market price of 0.9110 as bulls saw an opportunity to buy the dip. Bears remain the stronger side of the deal with 7 consecutive days in the red.

 

[rosentray]

The EUR/USD reached major support in today's session with a low of 1.0956. Bulls are expected to take action and buy the dip while bears will try their best to push price below support to first target at 1.0910.

 

[rosentray]

USD/CAD reached first resistance today in the face of 1.3180. The pair went through the upper triangle line at 1.3050 and continued steady to reach prior high and make a double top. If this holds, first bear target is 1.3030.

 

[rosentray]

The EUR/USD is trading at support at 1.0970. If this level is broken we might see an attempt of Bears to go to 1.0900. On the other hand, it 1.0970 is a successful support Bulls might attempt to break above first resistance at 1.1035.

 

[rosentray]

Gold reached a low of $1,313 in today's early hours and is currently trading at $1,318. The precious metal is at support for a second time since last week and if this level holds we might see Gold going to $1,400. Milestones until then: $1,335; $1,350; 1,375.