Rosen's Daily Commentary

[rosentray]

The UK has left the building and the Sterling collapsed to more than 30-year low at 1.32 against he US dollar. GBP/USD last made a high of 1.50 and when results were announced the pair crashed with more than 12%.

 

[rosentray]

EUR/USD is trading around 1.1020 currently due to lack of fresh news. No interest at this point is causing the pair to consolidate at these levels and until something exciting happen we might see it further consolidate.

 

[rosentray]

Gold is losing its shine in today's session after a few dollars of gains. The precious metal reached $1,333 and is now trading at $1,318. Profit taking and overbuying is seen as the main cause of the depreciation of Gold.

 

[rosentray]

USD/CAD breached 1.31 in today's session and is now trading at 1.3080. The pair remains in uptrend and if we get a close above 1.31 today we might see it continue further north.

 

[rosentray]

USD/JPY is currently trading at 101.65 after it managed to climb to 102.47. The pair appears to be on its way to continue South as it is now below the trading channel, way below the 200SMA and as a third - it went to 98.94 on Friday as we saw the Brexit really happened.

 

[rosentray]

A calm day for the EUR/USD so far with price slightly above yesterday's level. The pair is now trading at 1.1092. Have in mind that we have important news scheduled for later today which might leave an impact on the EUR/USD.

 

[rosentray]

USD/CAD is trading relatively unchanged since yesterday's session making a low of 1.2966 and currently trading at 1.3024. Main trend on the short-term remains bullish as price has been consolidating around the same level since last week.

 

[rosentray]

GBP/USD recovered to a high of 1.3371. It appears the bulls were able to push price up with some 250 pips which looks like nothing major compared to the latest drop of 18 cents or 12%. Price might recover a bit as it's now trading on the support line.

 

[rosentray]

Gold is having some of its shine taken away as it has been in consolidation since the Brexit. The precious metal went to a low of $1,305 and is now trading at $1,309. Consolidation is currently what drives price and until we get something to stir the market we can expect the range trading to continue.

 

[rosentray]

EUR/USD is trading higher today making a high of 1.1117. Although we saw positive US data, the Dollar bulls could not impact price behavior and the pair is now trading higher than pre-news time. First resistance is met at 1.1110 while first support remains the level of 1.1050.