Rosentray's Daily Commentary

[rosentray]

EUR/USD is trading relatively unchanged since yesterday's calm levels around 1.10. The pair is now slightly below at 1.0995 and it seems to be consolidating ahead of market news and reports that will create volatility. Main trend remains bearish, expectations are in favor of the US dollar.

 

[rosentray]

USD/JPY has come to a consolidation at key level around 104. The pair faced resistance at 104.63 and then retreated to lower levels. USD/JPY is currently trading at 103.51. It appears that bulls may attempt to reach the 200SMA at 107, which may happen before year end.

 

[rosentray]

EUR/USD is trading somewhat higher today after three days of consolidating around 1.0960. Price is now 1.0988. Bearish momentum continues to be present.

 

[rosentray]

Gold is trading at yesterday's levels with price fluctuating around $1,270. The precious metal is having a difficult time struggling to stay above the 200SMA. These days will be crucial for Gold's direction.

 

[rosentray]

EUR/USD broke the psychological level of 1.09 and is now trading at 1.0892. The pair has been feeling the effect of the bearish momentum as it's already beyond the support level for the short-term. Next bear target is 1.0820.

 

[rosentray]

USD/CAD continues to trade sideways ever since it hit bottom at 1.24 in early May. The pair is now 1.3245 with a high of 1.3250 and it appears that market participants are bullish on the anticipated news later today - CAD CPI and Retail Sales.

 

[rosentray]

USD/CAD is trading at resistance at current market price of 1.3335. The pair made a high earlier today of 1.3358 and immediately retreated below 1.3340. No news are scheduled for today, however, tomorrow US Consumer Confidence might be another boost in the pair's price.

 

[rosentray]

EUR/USD seems to have found a steady foundation at its last low of 1.0859. The pair is now slightly higher at 1.0891 and appears to be trading with low volumes. First support zone is expected at 1.0810, first resistance is expected at 1.0970.

 

[rosentray]

EUR/USD seems to be trading in consolidation for a second day after yesterday's low volume trading around 1.0880. The pair is now 1.0883 and as it seems, again low volume is shaping the trading day so far. First support is seen at 1.0820.

 

[rosentray]

USD/JPY is now at the high end of the range it's been in for the last three weeks. The pair is now 104.40 and it seems that bulls are trying to break out and get a close above 104.70. Should this happen, market sentiment will be predominantly bullish. On the other hand, first support is seen at 103.50, major bear target 102.