Rosen's Daily Commentary

[rosentray]

Gold saw a boost going from an opening price of $1,233 to $1,247 and is currently trading around $1,244. Technical factor influenced price movement as Gold price was resting at support for the past few days. Major bull target $1,267, then $1,277.

 

[rosentray]

EUR/USD is trading relatively unchanged from yesterday's level due to low volume and lack of fresh news. Current movement indicated that the Euro bulls are ready to take it to first base at 1.15. Whether or not this is gonna happen depends on who will dominate over the pair which suggests that we might get into consolidation if there are no fundamentals to stir the market.

 

[rosentray]

The Canadian dollar marked 20 cents depreciation against its major competitor the US dollar. SInce Jan 20 until today Apr 20 the pair is down to 1.2670 from 1.4690. A correction might be expected that would drive price to a level of 1.29.

 

[rosentray]

The EUR/USD went as high as 1.14 in today's trading hours only to fall and return its gains. The pari is currently trading at 1.1290 as the US dollar is taking control. First bear target 1.1244.

 

[rosentray]

Gold created a roller-coaster effect today opening at $1,245, going to $1,270 and about to close at $1,250. $1,267 was seen as resistance and bears took control over the situation and brought the price down in less than an hour. First bear target $1,238.

 

[rosentray]

The EUR/USD is trading slightly lower from yesterday's close. So far the pair reached a low at 1.1265 and is currently around 1.1271. Main short-term trend remains bullish with current price at support and short-term bull target 1.14.

 

[rosentray]

GBP/JPY reached resistance at the level of 158.90. The pair declined to 156.53 yesterday only to recover quickly and is currently trading at 158.20. If this level holds then bears will try to take price down to the levels around 150. First support is seen at 156.50.

 

[rosentray]

EUR/USD is up today reaching a high of 1.1319. Main trend in the short-term remains bullish with first resistance seen at 1.1338 and second resistance 1.1367. On the other hand, a decline would take the pair down to 1.1250 as first support zone.

 

[rosentray]

GBPY/JPY is having a rally in today's trading session going from 160.48 to 162.30. Main trend in the short-term remains bullish with first resistance seen at 162.40.

 

[rosentray]

EUR/USD is trading slightly to unchanged in today's session. Current market price is 1.1312 with a high of 1.1333. First resistance on the short-term is seen at 1.1320. If bears manage to keep price under that level then we might see a drop to 1.12 which is seen as major short-term bear target.