Rosen's Daily Commentary

[rosentray]

Gold continues to trade to the upside since the FED decision to leave rates unchanged. The precious metal is now $1,338 and it appears it will keep pushing higher.

 

[rosentray]

GBP/USD is already trading lower since opening. The pair opened at 1.2986 and made a low of 1.2969. GBP/USD is not 1.2973 and is close to revisiting support at 1.2940.

 

[rosentray]

EUR/USD is trading slightly lower today opening at 1.1241 and currently trading at 1.1229. The pair might attempt to visit the resistance level at 1.13 and if that happens bears will probably make a move to depreciate price to lower levels. If not, bulls need to go above 1.1340 to confirm a breakout from the descending trend channel.

 

[rosentray]

EUR/USD is trading lower after the Presidential debate hosted yesterday. The pair went from 1.1280 to a low of 1.1239 on talks about rising incomes, bringing back jobs and economy growth. Current market price 1.1244.

 

[rosentray]

Gold is consolidating around $1,335. The precious metal has been trading in the range between $1,332 and $1,340 for the past couple of weeks. It seems that a breakout in either directions would drive market participants to bet heavily toward the direction of the trend.

 

[rosentray]

EUR/USD is trading in the red so far today with price making a low of 1.1182 only to quickly recover and go back above 1.12. Price is now 1.1210 and bulls need to go above 1.1280 in order for them to accumulate momentum and push higher.

 

[rosentray]

Gold tumbled down today to a low of $1,322 and is now trading slightly higher at $1,325. The precious metal was trading at a high of $1,342 on Monday and has been depreciating since then. First support is seen at $1,316, while first resistance is $1,340.

 

[rosentray]

USD/JPY is trading higher due to lower than expected Japan data. The pair went from a low of 100.10 to a high of 101.75. Main trend continues to remain bearish. Have in mind the JPY National Consumer Price Index scheduled for tomorrow.

 

[rosentray]

EUR/USD is trading in the range of 1.1250 and 1.1200. The pair is caught in consolidation due to mixed signals from both parties. In less than 30 mins we have important EU data that may create volatility in the pair.

 

[rosentray]

EUR/USD continues to gravitate towards the 1.1220 level. The pair made a high of 1.1285 in the beginning of the week and since then it has been caught in the range of 1.1250 and 1.1200.