Rosen's Daily Commentary

[rosentray]

Gold is seen to be consolidating caught in the range between $1,290 and $1,300. Current price is $1,293-$1,294 which marks the level above the resistance line. The precious metal has been out of channel for the past two days and the way it looks it's going to try and return back to the channel, which suggests a slight drop to $1,286.

 

[rosentray]

Silver has downgraded in price marking a high 18.00 and currently trading at 17.46 - 17.50. Main trend on the short-term appears to change to bearish unless Silver bulls manage to push price above 18.00.

 

[rosentray]

EUR/USD is trading lower in today's session currently trying to break the 1.15 barrier. Price is yet to determine a direction but by the way it looks, bears might attempt to short the Euro for a target at 1.14.

 

[rosentray]

GBP/USD is trading at 1.45 after heavy pressure from Sterling bears pulling price down from 1.4770 to 1.4470 in less than two days. As it looks, bears will try to continue their rally with a target at 1.44.

 

[rosentray]

EUR/USD is trading sharply lower today after reaching multi-month high of 1.1620. The pair is currently trading at 1.1423 and by the way it looks, it might test 1.14 before we get the news tomorrow. Reminder: NFP and Unmployment Rate are scheduled for tomorrow.

 

[rosentray]

Gold is consolidating at the $1,280 level a day before the most important US data for the month - the NFP's and the Unemployment Rate. The precious metal reached a high of $1,303 only to fall short and went as low as $1,271. Most likely it will trade sideways until the market stir tomorrow.

 

[rosentray]

The EUR/USD is trading sideways today at 1.1380-1.14-1.1420. The pair is on hold expecting the market stir as traders and investors are anticipating the latest NFP data and Unemployment Rate. Current market price 1.1420 is first support while major resistance is 1.1580.

 

[rosentray]

Gold is trading relatively unchanged from yesterday's levels due to lite volumes as market participants are waiting for the latest US data scheduled for less than two hours. If it turns out that the NFP's and Unemployment Rate are favoring the US dollar then Gold might test $1,250. On the other hand, worse than expected US data is favorable for the precious metal and we might see a break above $1,300.

 

[rosentray]

EUR/USD is trading relatively unchanged in today's session gravitating around 1.14. Low volumes are partially due to no major events today as well as the lite impact caused by the latest NFP's and Unemployment rate.

 

[rosentray]

Gold lost more than $20 in today's session. The decline was caused by technical bears who saw that the precious metal reached resistance. Main trend on the short-term remains bearish.