Rosen's Daily

[rosentray]

USD/CAD was one of the biggest losers on Friday when the NFP and jobs rate were released. The pair went from 1.3114 to below 1.30 and is now trading at 1.2957 with a low of 1.2952. Important news are scheduled for the Canadian dollar this week.

 

[rosentray]

The EUR/USD is trading relatively unchanged in today's session. The pair is gravitating towards 1.1150 level in anticipation of the Non-Manufacturing Composite released later today.

 

[rosentray]

USD/CAD is trading lower today after a good steady climb from 1.2763 to 1.3147 in just a few days. The pair is back below 1.29 and is currently trading at 1.2895.

 

[rosentray]

The EUR/USD is trading to the upside since yesterday's ISM data at 51, lower than the 55.5 expected. Bears took over and the pair rallied from 1.1143 to a high of 1.1265. The pair is now 1.1253 and appears that it has reached minor resistance at the last high.

 

[rosentray]

USD/JPY bullish rally is over thanks to the weak US data released yesterday. The pair made a high of 104.32 from a low of 99.54 and is currently trading at 101.35, dropping some 300 points since yesterday. The pair might attempt to reach support at 100.35.

 

[rosentray]

The EUR/USD continues it's upward move started on Tuesday this week. The pair reached a new high at 1.1279 and is currently 1.1274. Important EU data is scheduled for later today.

 

[rosentray]

GBP/JPY appears to be forming a Head and shoulders pattern but in order for the pattern to be confirmed we need to break first support zone at 135.50. Price is now 135.71 and has found some strength to move up. Below current market price next support is seen at 132.89.

 

[rosentray]

The EUR/USD is trading relatively unchanged in today's session. The pair is down to 1.1244 from above 1.13 earlier this morning. Markets participants are expecting fresh news in order for them to pick a direction. Until then, consolidation might be expected.

 

[rosentray]

USD/JPY is trading higher today after the pair witnessed a downfall earlier this week. The pair is back at 103, currently trading at 102.87. No major news are expected today so price may consolidate at current level.

 

[rosentray]

The EUR/USD lost some of its gains on Friday when expectations rose that a rate hike is probable in September. The pair made a low of 1.1198 in the afternoon hours of the European session and recovered slightly to a closing weekly price of 1.1231. Current market price 1.1252.

 

[rosentray]

Gold posts new losses. The precious metal depreciated from $1,350 to a low of $1,324 in the early trading hours today. Gold was impacted by the rate hike expectations this month causing market participants to go into currencies rather than commodities. First support is last low, while first resistance is $1,340.

 

[rosentray]

EUR/USD continues to trade in the range between 1.13 and 1.1120. The pair is currently trading at 1.1235. No news will be moving the market today so we might be in for a technical Tuesday.

 

[rosentray]

USD/CAD reached resistance yesterday in the face of 1.3123. The pair is now slightly lower trading at 1.3047. It's been trading in a very choppy environment for the past few weeks so the best decision today could be to stay out of this market.

 

[rosentray]

EUR/USD has been consolidating in the past few days with price caught in between 1.1280 and 1.1180. The pair is yet to pick a direction if either ways give in to the pressure caused by market participants.

 

[rosentray]

USD/JPY is close to a possible break out. If it manages to push above 103.50 which is seen as immediate resistance, the pair might attempt to reach the last high at 104.30. In a day with no news, technical bulls might be in for the rally.

 

[rosentray]

EUR/USD continues its sideways movement in the early European trading hours today. The pair is currently at 1.1227 and appears to be consolidating before key reports tomorrow. CPI will have an impact on the pair and if it's good we might see strengthening of expectations for a rate hike this month.

 

[rosentray]

Silver is trading unsteadily gravitating towards 18.80. The metal has been really difficult to predict these last days with price aggressively fluctuating between 18.70 and 19.30. The best strategy now would be to wait for the US news tomorrow and then possibly make a move.

 

[rosentray]

EUR/USD is trading in the range between 1.1240 and 1.1230 in anticipation of the CPI data scheduled for later tomorrow. The data would most likely give a hint whether the FED will be raising the rate this month.

 

[rosentray]

Important news to watch for today:
USD Consumer Price Index (YoY) (AUG) Expected 1.0% Previous 0.8%
USD Consumer Price Index Ex Food & Energy (YoY) (AUG) Expected 2.2% Previous 2.2%
USD U. of Michigan Confidence (SEP P) Expected 90.6 Previous 89.8

 

[rosentray]

Gold is trading to the upside in today's session after it met support on Friday in the face of $1,306. The precious metal reacted positively to the level and bulls managed to bounce off the bottom. Price is now $1,316.