Rosentray's Daily Commentary

[rosentray]

EUR/USD reached a high of 1.1248 and immediately retreated back below 1.1240 currently trading at 1.1238. Later today the Consumer price index is due which may cause mild volatility in the pair.

 

[rosentray]

Silver is again above $20, but it appears that bulls will need more than that as they have to go beyond 20.40 which is seen as major resistance level. On the other hand, bears need a close below 19.60 in order for them to continue the downward movement of the metal.

 

[rosentray]

The EUR/USD is lower after yesterday's gains. The pair reached a high of 1.1322 which appears to be the prior pivot point. Currently, the euro is trading at 1.1268 against the dollar. The FOMC Minutes are due later today that may cause volatility.

 

[rosentray]

AUD/CAD met resistance at the face of 1.0131 and then succumbed to prior levels forced by the bearish pressure. The pair is trading in the red for a fifth consecutive day today and is appears that bears might attempt to go to major support zone at the 200SMA gravitating towards 0.98.

 

[rosentray]

EUR/USD is trading higher in today's session after mixed signals given by the FOMC Minutes yesterday. The FED statement was interpreted as insecure and investors turned away from the US dollar. Currently EUR/USD is trading at 1.1317 as the pair is outside the downward trading channel.

 

[rosentray]

Gold is range bound in the price range of #1,330 and $1,357. The precious metal needs to break either of those level in order for a continuation of a trend to be confirmed. Currently, Gold is on the upper side of the frame trading at $1,351-$1,352.

 

[rosentray]

EUR/USD climbed to a high of 1.1366 in yesterday's session going back to the ascending trading channel on the long-term. Current market price: 1.1339.

 

[rosentray]

Gold is back below $1,350 in today's early trading hours. The precious metal reacted bullishly to the rise in EUR/USD and reached a high of $1,356. Currently, Gold is at $1,347.

 

[rosentray]

The EUR/USD is trading slightly higher in today's session. The pair reached a high of 1.1314 and is now 1.1308.

 

[rosentray]

Gold reached support at $1,331 and climbed back up to current market price of $1,337. The precious metal visited the $1,330 zone for a third time this month and was again unable to break below it. Range trading between #1,330 and $1,360 until one of the parties decides it's time to take over.