Rosentray's Daily Commentary

[rosentray]

The EUR/USD is holding steady for it's highest gains since Wednesday last week. The pair reached a high of 1.1197 last week and is now trading at 1.1185. Bulls are not ready to give up as they are facing a strong resistance at current market price. If we get a break and a close above 1.12 then we might be in for a good bull rally.

 

[rosentray]

USD/JPY is trading at minor support at 102.20. The pair reacted from touching resistance at 107.50 and started falling till it made a low of 101.97. Earlier this morning, the price was 102 and bulls reacted quickly to the opportunity boosting price to the upside and reaching 102.28. Major support is 101.65.

 

[rosentray]

The EUR/USD is trading somewhat lower in today's session after yesterday's high of 1.1233. The pair is now 1.1211. No fundamentals are expected today. On Friday, however, the NFP and unemployment will be the most anticipated event of the month.

 

[rosentray]

Gold is trading at resistance at current market price of $1,364. The precious metal needs to close above $1,375 in order for a bull run to be confirmed. On the other hand, if bears are able to keep the price below $1,365, a change in trend is probable.

 

[rosentray]

The EUR/USD is lower today trading at 1.1140. Down some 100 pips from this weeks high of 1.1235. The pair would be heavily impacted by the long-awaited NFP and unemployment data scheduled for tomorrow.

 

[rosentray]

Gold is trading to the downside today after yesterday's high of $1,367. The precious metal is now $1,352 with a low of $1,350. This might be the beginning of a short-term downtrend that could lead price to a possible target of $1,300.

 

[rosentray]

The EUR/USD appears to be consolidating ahead of the NFP and unemployment data scheduled for later today.

 

[rosentray]

Gold recovered from the mid-week losses when it went from $1,367 to $1,349 and is now trading at $1,363-$1,364. High volatility is expected during the NFP and unemployment announcement.

 

[rosentray]

The EUR/USD is trading on the downside after upbeat US data pushes price to a low of 1.1046. The pair has slightly recovered and is now trading at 1.1097. No major news are expected today.

 

[rosentray]

USD/CAD is trading higher today as the Canadian dollar retreated to make room for the US dollar rally. Market participants boosted the pair's price with the latest upbeat US data showing +250K for a second time and an unchanged 4.9% unemployment. The pair reached a high of 1.3201 and is now trading at 1.3173.