Rosentray's Daily Commentary

[rosentray]

The EUR/USD is trading lower today after yesterday's losses. The pair reached a low of 1.1263 and could continue trading in the red until it reaches first support at 1.1180.

 

[rosentray]

Gold posts new losses today going down 1.5%. The precious metal went from $1,294 to $1,269 and is still indicating further losses. First support zone is seen at $1,262 while first resistance is seen at $1,285.

 

[rosentray]

The EUR/USD is trading somewhat higher since opening going to 1.1280. Main trend remains bullish as we have been in an uptrend channel for quite a while now. UK Vote is tomorrow, playing great defense is key.

 

[rosentray]

Gold lost a few dollars so far in today's session going to a low of $1,260 and currently trading at $1,265. A correction move seems to be forming meaning a further depreciation in price can be expected.

 

[rosentray]

EUR/JPY is trading in the red this week after it touched upon the Fibo Golden Ratio last week. Although this would mean a bull run, it is still to early as price is well below the 200SMA signalling downward move might not be over.

 

[rosentray]

USD/CAD is trading lower today going to 1.2772. The pair appears to be forming a triangle best seen on the daily chart. Should we get a break of either lines, market participants might react aggresively and create high volatility.

 

[rosentray]

The EUR/USD went down some 500 pips in today's session after we had the Brexit confirmed. The pair went to a low of 1.0911 from 1.1428. High volatility is bound to continue next week.

 

[rosentray]

The UK has left the building and the Sterling collapsed to more than 30-year low at 1.32 against he US dollar. GBP/USD last made a high of 1.50 and when results were announced the pair crashed with more than 12%.

 

[rosentray]

EUR/USD is trading around 1.1020 currently due to lack of fresh news. No interest at this point is causing the pair to consolidate at these levels and until something exciting happen we might see it consolidate further.

 

[rosentray]

Gold is losing its shine in today's session after a few dollars of gains. The precious metal reached $1,333 and is now trading at $1,318. Profit taking and overbuying is seen as the main cause of the depreciation of Gold.