Rosen's Daily Commentary

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The Swiss Franc is once again more expensive than the US dollar. The long-term trend shows that the tendency for the last seven years has been predominantly in favor of the Swiss Franc. The pair had had a few parity break outs, however, but the US dollar has been incapable of moving much above the parity level.

The latest political decision of Donald Trump to ban all refugees for 120 days caused protests all over the States thus creating uncertainty in mistrust in Trump as their leader. If this spreads further, it might affect the currency and equity markets in a negative way and jeopardize the optimistic outlook market participants have for the US.

In light of this, the US dollar is now facing a double edged sword as the current economic and political events might very well define the future developments of the dollar against all its counterparts.

The Swiss Franc is the most appreciated currency against the dollar so far throughout the year as it registered a triple top at 1.0300. Current market price 0.9987.

 

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EUR/USD is trading slightly higher in today's early European hours. The pair is now 1.0698, up from a low of 1.0654. Market sentiment for the short-term remains bullish, long-term outlook is bearish.

 

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Silver is trading higher in today's session after a minor loss posted yesterday. The precious metal has been on a winning streak since the end of December and is currently facing resistance in the face of 17.30. Main trend on the short-term remains bullish and if we get passed that 17.30 level we might see a continuation of the upward move with a renewed momentum.

If, however, bears succeed in bringing the price down at current levels, market participants might witness another move down to a probable first target of 16.23 and major bear target of 15.60.

Bulls will need a strong buy signal to get passed, while bears will only need lack of any signal to buy. The long-term trend looks optimistic so it's more likely that we could see a move to the upside to a major target at 17.60.

 

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EUR/USD is higher today after a bearish market reaction to the US dollar based on fundamentals. The pair is now 1.0759 with first resistance at 1.0775.

 

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USD/JPY has been trading with high volatility for the past few weeks. The pair made a low yesterday of 112.08 on a weaker US dollar and is now back at 113.47. Lately, it has been difficult to predict what the currency pair is going to do as we saw a lot of uncertainty in markets thus causing the pair to roam volatile.

Now it looks like the US dollar is gaining strength again so we might expect the move to continue higher. If this is the case, bulls might try to reach first target level at 113.93 and major short-term target at 115.13.

On the other hand, negative US dollar news will impact the pair in favor of the Japanese Yen and this will make way for first bear target at 112.20 and major short-term target at 111.12.

 

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EUR/USD is trading relatively unchanged from yesterday's levels around 1.08. The pair might consolidate for the next few hours in expectation of the next market news that can hint a direction.

 

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Gold is trading at a 2.5 month high in today's session amid uncertain times in the US economy. More specific, the Trump wave seems to be wearing off and now markets would need something fresh to stir the environment and create volatility.

The precious metal reached a high of $1,224 and is now trading at $1,217. If the trend keeps on going we might see Gold above immediate resistance at $1,230 to a probable bull target at $1,300. All eyes are now on the US economy and the latest NFPs and Jobs report scheduled for tomorrow 8:30EST.

Should we get bad news, Gold is destined to shine again. High volatility can be expected tomorrow in the Gold and currency market as this would be the first major report under Trump's administration.

 

[rosentray]

EUR/USD is trading relatively unchanged in today's session after a good few days of gains that caused the pair to go above 1.08. The pair is now 1.0807 and is expected to consolidate ahead of tomorrow's reports on NFPs and Jobs data.

 

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EUR/USD is trading in consolidation around 1.0750 as market participants await the latest NFP and Jobs report. The move may create high volatility and unexpected price changes so if you have decided to trade the news have tight stops and small positions.

 

[rosentray]

Gold is trading relatively unchanged since yesterday's levels around $1,215. Price is now $1,212 as Gold bugs expect the news later today hoping that it will give them a clearer perspective on the short-term.