Rosen's Daily Commentary

[rosentray]

GBP/USD is trading higher today after making a triple bottom seen best on the H4 chart. Price reached 1.4050 for a third time and after a few days of sideways trading bulls reacted to this level and strong buying pushed prices to 1.4286. Long-term market sentiment remains bearish with first resistance at 1.44.

 

[rosentray]

EUR/USD is trading lower today due to technicals impacting price movement. The pair reached resistance a few days ago going to 1.1470 and then took it down 1.1295. Currently, the EUR/USD is trading at 1.1304 with first support at 1.1270 and first resistance at 1.1450.

 

[rosentray]

Gold is trading lower today after it reached a high of $1,263 and then succumbed to a low of $1,240. Currently, the precious metal is trading at $1,250. Main short-term support is $1,230, main short-term resistance is $1,269.

 

[rosentray]

The EUR/USD reached 1.1233 in today's trading session and is currently trading at 1.1258. 1.1260 is support now and price might attempt to climb above this level and possibly close the week above 1.13.

 

[rosentray]

Gold lost close to $20 in today's trading session due to major technical resistance at the level of $1,263. Price found initial support at $1,230 and climbed to higher than open price only to fall short and bring it back down below $1,230. Currently, Gold is trading at $1,225 and a move up is expected.

 

[rosentray]

The EUR/USD is trading relatively unchanged since yesterday's close as it seems to have been caught in a range between 1.1280 and 1.1240. A move to the upside might be expected as price is resting on a short-term support zone.

 

[rosentray]

Gold is trading at $1,229 which falls below the short-term bull channel. With price out of the bull protection, bears might attempt to take it further down to possible levels around $1,200.

 

[rosentray]

The EUR/USD is trading higher today after technicals influenced the market participants. The pair reached 1.1274 in today's session and is now trading slightly above 1.13. Currently, price is resting on support level and bulls may try to push prices above 1.14.

 

[rosentray]

Gold made a low of $1,230 in today's session and is now trading at $1,237-$1,238. A move up could be expected that would drive prices to a possible level of $1,260 again. If this level is broken then we might see an attempt for $1,300.

 

[rosentray]

EUR/USD made a high of 1.1344 today due to major support at 1.1260. Bears were not able to push price below support and bulls successfully brought the pair back into the ascending trading channel. Major bull target 1.1530.