Rosentray's Daily Commentary

[rosentray]

The EUR/USD is trading slightly unchanged since yesterday's session gravitating towards the 1.1077level. With the latest NFP reports the pair lost some of its gains, but now when it rests on the 200SMA for a third consecutive day, things may change.

 

[rosentray]

GBP/USD made a new low today for the week at 1.2966. The pair went downhill the moment the NFP and unemployment data was announced. Watch for key levels at 1.2860 and 1.28.

 

[rosentray]

EUR/USD is up on technicals reaching a high of 1.1155 and currently trading at 1.1147. The pair has yet to attempt to reach first resistance at 1.12. On the other hand, first support is seen at last low.

 

[rosentray]

Gold is also trading to the upside since its lowest point of $1,330. The precious metal reached a high of $1,355 and is now trading at $1,351. Gold is back into its upward trading channel so continuing its pace North is most likely.

 

[rosentray]

EUR/USD went even higher today reaching 1.1190. The pair is now 1.1177 and no major news are expected today, suggesting that price may continue trading around 1.1160-1.1180.

 

[rosentray]

EUR/GBP is close to visiting resistance at 0.8626. The pair is now 0.8590 and is about to form a Double top at the resistance level. Important news are scheduled today that may create volatility and push price in either direction.

 

[rosentray]

EUR/USD recorded a day in the red today after making a high of 1.1192 and going down to a low of 1.1140. No major news for today so we might see a calm and well-behaved pair. First support zone 1.1080, first resistance zone 1.1200.

 

[rosentray]

GBP/USD reached a low of 1.2940 in today's session and is now trading slightly higher at 1.2956. The pair lost the gains it accumulated for the past month and is back again below 1.30. Major bear target is 1.2800. First bull target is 1.3021.

 

[rosentray]

EUR/USD is trading unchanged since the opening of the trading session today gravitating towards the 1.1160 level. In the end of last week the pair dropped from 1.1.1221 to a low of 1.1153. First support is current market price, major resistance is the 1.1235 level.

 

[rosentray]

Gold ended last week in the red going from $1,335 to $1,356 and then back to $1,335. The precious metal is now somewhat higher trading at $1,340 and as it appears, bulls need to do to heavy uplifting as bears are trying to take over and Gold is losing momentum.