Rosen's Daily Commentary

[rosentray]

USD/JPY is trading higher today after the pair witnessed a downfall earlier this week. The pair is back at 103, currently trading at 102.87. No major news are expected today so price may consolidate at current level.

 

[rosentray]

The EUR/USD lost some of its gains on Friday when expectations rose that a rate hike is probable in September. The pair made a low of 1.1198 in the afternoon hours of the European session and recovered slightly to a closing weekly price of 1.1231. Current market price 1.1252.

 

[rosentray]

Gold posts new losses. The precious metal depreciated from $1,350 to a low of $1,324 in the early trading hours today. Gold was impacted by the rate hike expectations this month causing market participants to go into currencies rather than commodities. First support is last low, while first resistance is $1,340.

 

[rosentray]

EUR/USD continues to trade in the range between 1.13 and 1.1120. The pair is currently trading at 1.1235. No news will be moving the market today so we might be in for a technical Tuesday.

 

[rosentray]

USD/CAD reached resistance yesterday in the face of 1.3123. The pair is now slightly lower trading at 1.3047. It's been trading in a very choppy environment for the past few weeks so the best decision today could be to stay out of this market.

 

[rosentray]

EUR/USD has been consolidating in the past few days with price caught in between 1.1280 and 1.1180. The pair is yet to pick a direction if either ways give in to the pressure caused by market participants.

 

[rosentray]

USD/JPY is close to a possible break out. If it manages to push above 103.50 which is seen as immediate resistance, the pair might attempt to reach the last high at 104.30. In a day with no news, technical bulls might be in for the rally.

 

[rosentray]

EUR/USD continues its sideways movement in the early European trading hours today. The pair is currently at 1.1227 and appears to be consolidating before key reports tomorrow. CPI will have an impact on the pair and if it's good we might see strengthening of expectations for a rate hike this month.

 

[rosentray]

Silver is trading unsteadily gravitating towards 18.80. The metal has been really difficult to predict these last days with price aggressively fluctuating between 18.70 and 19.30. The best strategy now would be to wait for the US news tomorrow and then possibly make a move.

 

[rosentray]

EUR/USD is trading in the range between 1.1240 and 1.1230 in anticipation of the CPI data scheduled for later tomorrow. The data would most likely give a hint whether the FED will be raising the rate this month.