Rosen's Daily Commentary

[rosentray]

The EUR/USD reached 1.1188 due to the blasts at Brussels airport and metro. The euro is still feeling the impact of the event as Europe is trying to stand strong and continue normal everyday life. My prayers and support is with the people of Belgium.

 

[rosentray]

Gold was boosted by the events in Belgium and went up $16 to $1,260 from $1,244. It's now trading around $1,255 as traders and investors are trying to figure out how serious this attack actually is. Stay strong, Brussels!

 

[rosentray]

The EUR/USD is trading lower today going as low as 1.1180. Main trend remains bearish, a consolidation around this level might be expected due to lack of fresh news to stir the market.

 

[rosentray]

The GBP/USD declined sharply going from 1.4512 to 1.4160 in less than a week. Short-term a continuation of the downfall might be expected as bears were able to put the Sterling back into the descending trading channel.

 

[rosentray]

The EUR/USD is trading at support around the level of 1.1160. This is best seen on the daily chart. Price will either try to bounce off this level or break it and reach 1.1100. This week no major news are expected so we could see calm markets today and tomorrow.

 

[rosentray]

Gold pulled up slightly to go back above $1,220 recovering mildly from the losses yesterday. This morning the precious metal went to $1,212 and is currently trading at $1,221. We can expect price to go to $1,200 and then find the support to start climbing again.

 

[rosentray]

The EUR/USD is trading in conslidation due to lack of fresh news. With holiday time today, the low volatility is driving away market participants to something more beneficial. Bulls need to push prices above 1.1180 as bears will try to bring them down to 1.1080.

 

[rosentray]

GBP/USD is also consolidating as no major news are expected today. First support is seen at 1.4055 as bears must take this level down if they want to go below 1.40. On the other hand, bulls need to close above 1.4190 so that a bull trend could be established.

 

[rosentray]

The EUR/USD is trading at support at 1.1170. Price has managed to stay in the ascending trading channel and if this level holds then we might see the pair reach 1.1450 next month. First support 1.1170, first resistance 1.1230.

 

[rosentray]

The EUR/USD is trading higher today due to support level reached yesterday. The pair made a high of 1.1225 and is currently trading at 1.1215. Please be aware that we have important statement from FED's Chairman Janet Yellen in less than a couple of hours.