Rosen's Daily Commentary

[rosentray]

GBP/USD slumps 6% in 2 minutes overnight. The selling came as a surprise for bulls and the reason behind the sell off remains unclear. Some say it's due to an algo seeking out stops, others say it's a fat-finger error. While no one can give you an answer, best strategy now would be to stay out until events take a calmer course.

 

[rosentray]

EUR/USD lost some of its value in today's session due to a strengthening of a rate hike expectations. The pair is now 1.1152, down from 1.1203.

 

[rosentray]

USD/CAD is down significantly after Friday's gain to a high of 1.3313. The pair reacted bearishly to Friday's high and is now trading at 1.3141. Further continuation of the downward move can be expected to a first support at 1.3120.

 

[rosentray]

EUR/USD looks a bit beaten in today's session. The pair is now slightly lower than yesterday's level and is trading at 1.1120. In less than three hours the EU news might bring some volatility in the market.

 

[rosentray]

Gold is trading below $1,260 for more than a day now. Market participants are waiting for some fresh news to stir the market. These could come on Friday when we have important US data and a statement by Janet Yellen. Current market price of the precious metal $1,258.

 

[rosentray]

EUR/USD is trading sharply lower this week. Today the pair reached a low of 1.1015. This comes after a few days of depreciation and it looks like it will not stop here. Important news on Friday might create more volatility.

 

[rosentray]

GBP/USD had yet another crisis, this time more timid and mild. The pair went from 1.12330 to a low of 1.2088 in yesterday's late European hours. This appears to be the after effect of the surprise flash crisis that occurred on Friday night.

 

[rosentray]

EUR/USD is having another day of losses. The pair is now 1.1014 and it appears that there isn't anything to stop it from depreciating further. Important US news tomorrow. First support is the psychological level of 1.10.

 

[rosentray]

USD/CAD has been very difficult to trade in the past few weeks. The choppy environment is a true test for your risk management. Being able to handle all the uncertainty and not lose any money is a good sign that in calm and steady times your strategy will work wonders.

 

[rosentray]

EUR/USD was lightly impacted by the positive US data earlier today and broke the psychological 1.10 level. Current market price: 1.0996. Main trend remains bearish.