Rosentray's Daily Commentary

[rosentray]

EUR/USD is trading sharply lower this week. Today the pair reached a low of 1.1015. This comes after a few days of depreciation and it looks like it will not stop here. Important news on Friday might create more volatility.

 

[rosentray]

GBP/USD had yet another crisis, this time more timid and mild. The pair went from 1.12330 to a low of 1.2088 in yesterday's late European hours. This appears to be the after effect of the surprise flash crisis that occurred on Friday night.

 

[rosentray]

EUR/USD is having another day of losses. The pair is now 1.1014 and it appears that there isn't anything to stop it from depreciating further. Important US news tomorrow. First support is the psychological level of 1.10.

 

[rosentray]

USD/CAD has been very difficult to trade in the past few weeks. The choppy environment is a true test for your risk management. Being able to handle all the uncertainty and not lose any money is a good sign that in calm and steady times your strategy will work wonders.

 

[rosentray]

EUR/USD was lightly impacted by the positive US data earlier today and broke the psychological 1.10 level. Current market price: 1.0996. Main trend remains bearish.

 

[rosentray]

Gold continues to trade sideways gravitating towards $1,250. Price is now $1,253 as Gold bugs wait for fresh news to stir the market. Silver is also range bound around $17.40.

 

[rosentray]

EUR/USD is trading slightly higher in today's early European hours. The pair made a high of 1.1280 a couple of weeks ago and has been downgrading since then. Current market price 1.0979.

 

[rosentray]

Gold is trading in consolidation between $1,260 and $1,250. The precious metal has been in a downmarket since the end of September. Major support zone is seen at $1,200-$1,210.

 

[rosentray]

EUR/USD is higher in today's early European hours. The pair is now trading at 1.1007 and already made a high of 1.1026. If we do not get above 1.1020 today there is a big chance to see further depreciation of the pair.

 

[rosentray]

Gold is trading higher today making a high of $1,262. The precious metal is dangerously below the 200SMA indicating that there could be a drop. Major support is $1,200-$1,210. Resistance is $1,280.