Rosentray's Daily Commentary

[rosentray]

EUR/USD is trading to the downside on rumors that the FED is setting the stage for December rate hike. The pair is now 1.1133 and market participants are anticipating the FOMC meeting scheduled for 2PM Eastern today.

 

[rosentray]

Japanese Yen falls as Bank of Japan introduces an updated QQE stimulus effort with new parameters aimed at controlling the yield curve. USD/JPY is now trading at 102.58, which is not that much of a significant change. Market participants are anticipating the FOMC meeting at 2PM Eastern.

 

[rosentray]

EUR/USD is slightly up since yesterday's FOMC meeting when it became clear that the Fed is not raising rates this month. Market participants were not surprised by the decision so the market environment did not change much. CMP: 1.1234.

 

[rosentray]

Gold is trading higher today after the Fed decided to leave rates unchanged. The precious metal reached a high of $1,337 and is currently trading at $1,334. First resistance is seen at $1,346.

 

[rosentray]

EUR/USD is trading met resistance in the face of 1.1250 and then pulled back to lower levels. The pair is now 1.1212 and bulls need to try once more if they want to get to next target at 1.1310. On the other hand, bears need to stay in the descending channel if they want to continue being in the driver's seat.

 

[rosentray]

Gold continues to trade to the upside since the FED decision to leave rates unchanged. The precious metal is now $1,338 and it appears it will keep pushing higher.

 

[rosentray]

GBP/USD is already trading lower since opening. The pair opened at 1.2986 and made a low of 1.2969. GBP/USD is not 1.2973 and is close to revisiting support at 1.2940.

 

[rosentray]

EUR/USD is trading slightly lower today opening at 1.1241 and currently trading at 1.1229. The pair might attempt to visit the resistance level at 1.13 and if that happens bears will probably make a move to depreciate price to lower levels. If not, bulls need to go above 1.1340 to confirm a breakout from the descending trend channel.

 

[rosentray]

EUR/USD is trading lower after the Presidential debate hosted yesterday. The pair went from 1.1280 to a low of 1.1239 on talks about rising incomes, bringing back jobs and economy growth. Current market price 1.1244.

 

[rosentray]

Gold is consolidating around $1,335. The precious metal has been trading in the range between $1,332 and $1,340 for the past couple of weeks. It seems that a breakout in either directions would drive market participants to bet heavily toward the direction of the trend.