Rosen's Daily Commentary

[rosentray]

GBP/USD reached a low of 1.2940 in today's session and is now trading slightly higher at 1.2956. The pair lost the gains it accumulated for the past month and is back again below 1.30. Major bear target is 1.2800. First bull target is 1.3021.

 

[rosentray]

EUR/USD is trading inchanged since the opening of the trading session today gravitating towards the 1.1160 level. In the end of last week the pair dropped from 1.1.1221 to a low of 1.1153. First support is current market price, major resistance is the 1.1235 level.

 

[rosentray]

Gold ended last week in the red going from $1,335 to $1,356 and then back to $1,335. The precious metal is now somewhat higher trading at $1,340 and as it appears, bulls need to do to heavy uplifting as bears are trying to take over and Gold is losing momentum.

 

[rosentray]

EUR/USD reached a high of 1.1248 and immediately retreated back below 1.1240 currently trading at 1.1238. Later today the Consumer price index is due which may cause mild volatility in the pair.

 

[rosentray]

Silver is again above $20, but it appears that bulls will need more than that as they have to go beyond 20.40 which is seen as major resistance level. On the other hand, bears need a close below 19.60 in order for them to continue the downward movement of the metal.

 

[rosentray]

The EUR/USD is lower after yesterday's gains. The pair reached a high of 1.1322 which appears to be the prior pivot point. Currently, the euro is trading at 1.1268 against the dollar. The FOMC Minutes are due later today that may cause volatility.

 

[rosentray]

AUD/CAD met resistance at the face of 1.0131 and then succumbed to prior levels forced by the bearish pressure. The pair is trading in the red for a fifth consecutive day today and is appears that bears might attempt to go to major support zone at the 200SMA gravitating towards 0.98.

 

[rosentray]

EUR/USD is trading higher in today's session after mixed signals given by the FOMC Minutes yesterday. The FED statement was interpreted as insecure and investors turned away from the US dollar. Currently EUR/USD is trading at 1.1317 as the pair is outside the downward trading channel.

 

[rosentray]

Gold is range bound in the price range of #1,330 and $1,357. The precious metal needs to break either of those level in order for a continuation of a trend to be confirmed. Currently, Gold is on the upper side of the frame trading at $1,351-$1,352.

 

[rosentray]

EUR/USD climbed to a high of 1.1366 in yesterday's session going back to the ascending trading channel on the long-term. Current market price: 1.1339.