Rosentray's Daily Commentary

[rosentray]

EUR/USD is trading at it's lowest since December 2015. The pair made a low of 1.0687 and is now gravitating towards that same low. Support is seen at 1.06. No news are expected today.

 

[rosentray]

USD/JPY made a high of 109.75 and it seems that bulls are determined to take it higher. First bull target is seen at 110, major target is seen at 110.30. USD/JPY's rally is the results of Trump's victory and the effect still hasn't worn off.

 

[rosentray]

EUR/USD is trading relatively unchanged in today's session. The pair is gravitating towards 1.0720 while market participants are expecting the latest US CPI data scheduled for later today.

 

[rosentray]

USD/CAD has been doing a correction for the past three days with price going from 1.3592 to a current market price of 1.3417. Today's US CPI's and tomorrow's CAD CPI's will play a significant role in determining future price behavior and market trend.

 

[rosentray]

EUR/USD at 11-month low today. The pair reached as low as 1.0581 and is now trading around 1.06 which acts as strong support.

 

[rosentray]

Gold reached a low of $1,202 in today's session and is now trading slightly above around $1,210. The precious metal still hasn't reached bottom which is seen at $1,200. If that level is broken then we might see further drop that can lead to a low at $1,000 in the long-term.

 

[rosentray]

EUR/USD is now more stabilized trading at 1.0630 as market participants are calmer. Uncertainty is still huge and anything can happen. The USD Index hit a 13.5 year high at 101.27.

 

[rosentray]

Gold is higher in today's opening hours of the European session with prices going above $1,215. Still uncertainty plays a major role in current market environment. If the USD continues rallying Gold might go below $1,200.

 

[rosentray]

EUR/USD is trading higher in today's session after a few days of high volatility and uncertainty. Current market price is 1.0643, close to first resistance at 1.0650. If bulls manage to pull through that level then we might an attempt to go higher possibly above 1.0750 before the weekend. On the other hand, bears need to go below 1.06 in order for the bull run to be discontinued.

 

[rosentray]

USD/CAD is trading lower today, continuing its bearish downtrend that stated last week. The pair is now 1.3382, down from a high of 1.3563. The pair's movement is very choppy for the last few months making it very difficult to pick a direction and hold onto the trend.