Rosentray's Daily Commentary

[rosentray]

EUR/USD appears to be caught in a struggle gravitating towards 1.0630. The pair tried to go below 1.0600 yesterday evening but was unsuccessful and bulls reacted quickly to the chance to buy the dips. CMP 1.0629.

 

[rosentray]

GBP/JPY is lower in today's session after yesterday's high of 138.80. The pair is now 137.72 as the level yesterday acted as short-term resistance. If this level holds, we might see GBP/JPY drop below 137.00 before weekend.

 

[rosentray]

Gold is now at its lowest point since February this year. The precious metal made the most impressive 30% rally in the first quarter beating all other markets. Now Gold seems to have lost its shine with current market price at $1,186. Main trend remains bearish.

 

[rosentray]

EUR/USD is trading at 1.0539 while market participants are expecting the latest Advance Goods Trade Balance. The pair has been in the downturn since Trump's victory. As it seems, the Trump tidal wave proofed to be very resilient.

 

[rosentray]

EUR/USD is trading relatively unchanged in today's session. The pair is now 1.0596 and as it appears market participants are exhausted and will go into the weekend without much harm done today.

 

[rosentray]

Gold remained steady in today's session after it went down to $1,170. Bulls were quick to buy the dip and now Gold is trading at $1,187. Main trend remains bearish until we have something on the table that can create volatility.

 

[rosentray]

Uncertainty in EUR/USD continues to affect the market as the pair is now slightly higher trading at 1.0658 with a high of 1.0685. Market participants expect extreme volatility to continue as we enter into the week.

 

[rosentray]

GBP/JPY is now lower as market players appear to be taking profits from the latest rally that has been going on since the beginning of November. The pair is now 139.84 down from 141.73.

 

[rosentray]

EUR/USD is trading slightly higher in today's session. The pair is back above the 1.06 mark and it looks it is caught in a range between 1.0660 and 1.0550.

 

[rosentray]

Gold is trying to reach higher today after going above $1,190. The precious metal is still in bear territory and will probably consolidate until the end of the week when we have the NFP's and Jobs report.