Rosentray's Daily Commentary

[rosentray]

The EUR/USD is trading relatively unchanged since yesterday's session. The pair reached a high of 1.1125 and then plummeted again below the 200SMA making a low of 1.1052. The pair is now 1.1069 and is headed to first support at 1.0951.

 

[rosentray]

USD/JPY is having a great bull run since yesterday. The pair is up from 100.01 to 104.98. Currently price is 104.90 and it looks like it's headed to first resistance at 107.50. If the pair keeps going North with the same momentum we might even see 108.60 until the end of the week.

 

[rosentray]

The EUR/USD is trading to the downside in today's session currently at 1.1041. The price is back below the 200SMA after it reached above it yesterday. It appears to be hard for the market participants to win a direction as the price has been gravitating towards the 200SMA since mid-June.

 

[rosentray]

GBP/USD is in its fourth day of consecutive gains after making a multi-year low at 1.28. The pair is now back at its long-term downtrend and now first support is seen at 1.3155. Current market price 1.3267.

 

[rosentray]

The EUR/USD reached a high of 1.1164 in today's session after the Bank of England announced it's keeping the key interest rate unchanged. Market participants did not expect that and EUR and GBP saw a surge. Have in mind that this rally might prove to be short-lived. Current market price 1.1146.

 

[rosentray]

GBP/USD is trading to the upside in today's session. It's because the bank of England surprisingly put their key interest rate on hold. The pair went from a low of 1.3104 to a high of 1.3470 and is currently trading at 1.3356. Although the rally seems powerful, it is best to wait for confirmation as momentum is not enough to produce a sustainable bull run.

 

[rosentray]

EUR/USD is trading quietly today so far as we have important US data scheduled for later today. The pais is trading between 1.11 and 1.1150. Main trend on the short-term is bullish as we are above the 200SMA and into the fifth day of consecutive gains.

 

[rosentray]

NZD/CAD is trading to the downside for a third consecutive day today. The pair reached resistance at 0.9537 and then started going downhill fast. The price is now 0.9215 and it looks like it will keep going lower as we passed the support level at 0.9270.

 

[rosentray]

The EUR/USD is trading flat in today's session due to lack of fresh news and events. Technically, the pair is consolidating around the 1.1050 level. Today's high is 1.1084 and the price is now 1.1076.

 

[rosentray]

Gold lost some of its shine today after making a high of $1,335. The precious metal is now trading at $1,327 and it looks like it will keep pushing lower. The events in Turkey were not enough to boost prices. First support is seen at $1,321.