Rosen's Daily Commentary

[rosentray]

Gold has been trading in a tightening range since it made a high of $1,374. The precious metal has been bearish since then forming a zigzag movement going to highs and lows creating a decent bearish channel. Current market price $1,323.

 

[rosentray]

EUR/USD is trading in consolidation today as the pair seems to gravitate towards the 1.1230 level. Light volumes usually indicate that a move is either over or just accumulating new force to keep pushing in the same direction. First bull target 1.1280.

 

[rosentray]

GBP/USD made a new low today at 1.2845. The pair is now trading at 1.2876 and seems close to reaching the 30-year low at 1.2795.

 

[rosentray]

EUR/USD is trading lower today after yesterday's loss. The pair continues its move down making a low of 1.1190. It appears that bears are regaining control over the pair. First bear target can be expected at 1.1152. First resistance can be expected at 1.1242.

 

[rosentray]

Gold has traded down since last week when its price was near to $1,345. The precious metal continues to depreciate and it seems that Gold is losing momentum and fast. Gold has passed the support line on the long-term at $1,313. Current market price: $1,311.

 

[rosentray]

Calm day so far for the EUR/USD. The pair has been trading in a range of 1.1220-1.1200 as there isn't anything strong enough to motivate either of the camps. We have been gliding on the resistance level for a several days now and this might be an indicator that a move down is probable.

 

[rosentray]

Gold witnessed a massive sell off yesterday going from $1,312 to $1,267. The precious metal is now very vulnerable to bearish attacks and if we break the $1,255 level today this would invalidate a potential bullish move this week.

 

[rosentray]

EUR/USD is trading lower in today's session as market participants are already anticipating the latest NFP and jobs data scheduled for tomorrow 8:30AM Eastern. Current market price 1.1188.

 

[rosentray]

AUD/CHF is its third day of losses going from a high of 0.7522 to a low of 0.7395. The pair is now slightly higher but the momentum might continue driving the price down to a support of 0.73.

 

[rosentray]

EUR/USD is trading lower today after it was gravitating towards 1.12 yesterday. The pair is now around 1.11, currently 1.1122, which is not surprising considering yesterday's positive US data and today's anticipated NFP and jobs data.