Rosentray's Daily Commentary

[rosentray]

GBP/USD is trading with heavy volumes and high volatility in today's session going as low as 1.4113 and as high as 1.4321. Remember that the UK has a Referendum scheduled for Thursday 23th. Until then trading could be very dangerous.

 

[rosentray]

USD/CAD is trading higher in today's session reaching a high of 1.2828. The pair appears to be trying to recover from last low of 1.2654. First support is seen at 1.2700, first resistance is seen at 1.2800.

 

[rosentray]

The EUR/USD was not impacted today by the release of the Advance Retail Sales today. The news turned out to be a non-event and price did not alter in any sudden and volatile changes.

 

[rosentray]

Gold was slightly influenced by the US Advance Retail Sales today and made a high of $1,290 thus making a double top. Price is now below $1,290 and further depreciation could be expected.

 

[rosentray]

USD/CAD posted new gains in today's session making a high of 1,2860 and is currently gravitating to 1.2840. A correction could be expected only to give some air to the pair before it continues climbing again.

 

[rosentray]

GBP/USD posts new losses today after a Brexit poll shows voters are favoring the exit of the EU. Price went as low as 1.4090 and is now trading at 1.4125.

 

[rosentray]

EUR/USD is trading relatively unchanged since yesterday's session gravitating towards 1.1200. The pair is now 1.1209 and trading in really low volumes due to lack of fresh news that would stir the market.

 

[rosentray]

USD/JPY managed to hold above the key level of 106. The pair dipped below 106 to a low of 105.62 thus forming double bottom with previous low of 105.58. Bulls were quick to react and pushed prices to a daily high of 106.32.

 

[rosentray]

EUR/USD traded unsteadily today as we are already in the decision week when on Thursday it will be clear whether the UK leaves the EU or not. Whatever happens, volatility will rise.

 

[rosentray]

Gold lost some $10 in today's session after heavy selling occured. The precious metal is now in the correction phase after it reached a 10-month high at $1,315 and pulled back to $1,277. Gold is now trading at 1,287.