Rosen's Daily Commentary

[rosentray]

NZD/CAD is trading to the downside for a third consecutive day today. The pair reached resistance at 0.9537 and then started going downhill fast. The price is now 0.9215 and it looks like it will keep going lower as we passed the support level at 0.9270.

 

[rosentray]

The EUR/USD is trading flat in today's session due to lack of fresh news and events. Technically, the pair is consolidating around the 1.1050 level. Today's high is 1.1084 and the price is now 1.1076.

 

[rosentray]

Gold lost some of its shine today after making a high of $1,335. The precious metal is now trading at $1,327 and it looks like it will keep pushing lower. The events in Turkey were not enough to boost prices. First support is seen at $1,321.

 

[rosentray]

The EUR/USD is losing some ground in today's session but it is still trading in the range of its yesterday's high and low. The pair is now at 1.1054, down from 1.1080.

 

[rosentray]

Silver is in the red in today's trading. After it reached a high of 21.16, the metal started going downhill and is now trading at 19.90. Is is expected that it would continue depreciating with first resistance at 19.20

 

[rosentray]

The EUR/USD reached a low of 1.0981 in today's session and recovered to a current price of 1.1004. Major level of support is seen at 1.0955.

 

[rosentray]

Gold lost more than $20 in today's session after market participants took profits from the bull run that started a few weeks ago at $1,200/oz. Price was highest today at $1,338 and is currently trading at $1,317 with a low of $1,313.50. Bearish momentum is expected to continue until the end of the week.

 

[rosentray]

Not much is happening in the EUR/USD in today's session although we saw a mild recovery towards the range at 1.1040. The pair reached a low of 1.1003 earlier today and made a high of 1.1047. Bearish trend on the long-term remains steady.

 

[rosentray]

NZD/CAD reached a 1-month low earlier today going below 0.91 with a low of 0.9085. The pair recovered to a current market price of 0.9110 as bulls saw an opportunity to buy the dip. Bears remain the stronger side of the deal with 7 consecutive days in the red.

 

[rosentray]

The EUR/USD reached major support in today's session with a low of 1.0956. Bulls are expected to take action and buy the dip while bears will try their best to push price below support to first target at 1.0910.