Rosentray's Daily Commentary

[rosentray]

Calm day so far for the EUR/USD. The pair has been trading in a range of 1.1220-1.1200 as there isn't anything strong enough to motivate either of the camps. We have been gliding on the resistance level for a several days now and this might be an indicator that a move down is probable.

 

[rosentray]

Gold witnessed a massive sell off yesterday going from $1,312 to $1,267. The precious metal is now very vulnerable to bearish attacks and if we break the $1,255 level today this would invalidate a potential bullish move this week.

 

[rosentray]

EUR/USD is trading lower in today's session as market participants are already anticipating the latest NFP and jobs data scheduled for tomorrow 8:30AM Eastern. Current market price 1.1188.

 

[rosentray]

AUD/CHF is in its third day of losses going from a high of 0.7522 to a low of 0.7395. The pair is now slightly higher but the momentum might continue driving the price down to a support of 0.73.

 

[rosentray]

EUR/USD is trading lower today after it was gravitating towards 1.12 yesterday. The pair is now around 1.11, currently 1.1122, which is not surprising considering yesterday's positive US data and today's anticipated NFP and jobs data.

 

[rosentray]

GBP/USD slumps 6% in 2 minutes overnight. The selling came as a surprise for bulls and the reason behind the sell off remains unclear. Some say it's due to an algo seeking out stops, others say it's a fat-finger error. While no one can give you an answer, best strategy now would be to stay out until events take a calmer course.

 

[rosentray]

EUR/USD lost some of its value in today's session due to a strengthening of a rate hike expectations. The pair is now 1.1152, down from 1.1203.

 

[rosentray]

USD/CAD is down significantly after Friday's gain to a high of 1.3313. The pair reacted bearishly to Friday's high and is now trading at 1.3141. Further continuation of the downward move can be expected to a first support at 1.3120.

 

[rosentray]

EUR/USD looks a bit beaten in today's session. The pair is now slightly lower than yesterday's level and is trading at 1.1120. In less than three hours the EU news might bring some volatility in the market.

 

[rosentray]

Gold is trading below $1,260 for more than a day now. Market participants are waiting for some fresh news to stir the market. These could come on Friday when we have important US data and a statement by Janet Yellen. Current market price of the precious metal $1,258.