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Author Topic: Rosen's Daily  (Read 19370 times)

Offline rosentray

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Rosen's Daily
« on: February 29, 2016, 02:40:12 PM »
The EUR/USD is trading below support in today's hours of the European session. Price reached 1.0879 as today's low so far and is now currently trading at 1.0890. With the US economy gaining strength, the momentum of the positive news on Friday is still being felt.

Technically speaking, we can expect 1.0840 to act as a first support due to prior pivot point being met. If this level is wiped, second support level is seen at 1.08 as a psychological support.

Major resistance that bulls have to take out is the level of 1.1050 which is the 200SMA and the lower trend line on the long-term ascending channel.

Offline rosentray

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Re: Rosen's Daily
« Reply #1 on: March 01, 2016, 03:40:58 PM »
The EUR/USD is trading lower in today's trading session due to technical and fundamentals combined. Technically speaking, price is trading below the 200SMA for a fifth consecutive day. Also, price is now outside the long-term bullish channel, which makes it vulnerable to bear attack.

First level of support 1.08, first level of resistance 1.0970.

Offline rosentray

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Re: Rosen's Daily
« Reply #2 on: March 02, 2016, 09:10:24 AM »
The EUR/USD is trading in the long-term downward channel, which makes it vulnerable to bear attacks. First level of support 1.08, first level of resistance 1.0960. Only a break and a close above the 200SMA would invalidate the depreciation of the Euro.

Offline rosentray

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Re: Rosen's Daily
« Reply #3 on: March 03, 2016, 08:14:19 AM »
The bear rally in the EUR/USD seems to have dried up as we can see less volume in the last few days. This could mean a change in trend. If price manages to climb above 1.1050 and close above we have a strong confirmation that a bull trend is forming.

Offline rosentray

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Re: Rosen's Daily
« Reply #4 on: March 04, 2016, 05:52:04 PM »
The EUR/USD is trading higher due to the latest NFP's. The pair reached 1.1043 and hit right at the 200SMA. Price retraced and is now trading around the 1.10 level. Key resistance remains the 200SMA at 1.1050 while first support is 1.0975.

Offline rosentray

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Re: Rosen's Daily
« Reply #5 on: March 07, 2016, 01:53:00 PM »
I have a reason to believe that the EUR/USD is ready for take off. The price has been trading slightly above long-term downward channel and is currently creating a new upward channel. Should we get another attempt to break the 200SMA, we might see the EUR/USD climbing above 1.11.

Offline rosentray

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Re: Rosen's Daily
« Reply #6 on: March 08, 2016, 05:41:54 PM »
EUR/USD reached 1.1057, 15 pips above the 200SMA but due to heavy bearish pressure, it retraced back below the Moving Average and is currenctly trading around the 1.10-1.1015 level.

The pair reached resistance twice in the last three days, indicating that the Euro might attempt a bull run. Pay attention to news this week and watch 1.1045.

Offline rosentray

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Re: Rosen's Daily
« Reply #7 on: March 09, 2016, 08:05:32 AM »
EUR/USD is trading lower today, due to major resistance in the face of the 200SMA. Main direction remains bullish, but you should have in mind that tomorrow news are scheduled for tomorrow:

- European Central Bank Rate Decision 12:45GMT
- ECB Deposit Facility Rate 12:45GMT
- ECB Marginal Lending Facility 12:45GMT
- ECB Press Conference 13:30GMT

Offline rosentray

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Re: Rosen's Daily
« Reply #8 on: March 10, 2016, 08:08:14 AM »
The EUR/USD reached as high as 1.1036 in yesterdays session, but couldn't keep up with the gains and retraced back below 1.10 to currently trade at 1.0962.

Price is going to trade in current range until the news today come out and the press conference takes place as traders and investors are waiting for fresh news later today.

Offline rosentray

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Re: Rosen's Daily
« Reply #9 on: March 11, 2016, 08:34:54 AM »
The EUR/USD is trading higher since yesterday's press conference. The pair reacted sharply bearish in the initial moments and reached 1.0820. However, the Euro decided it's time to break the resistance and pierced through the 200SMA at 1.1045 reaching as high as 1.1218.

Currently a modest decline is taking place and the EUR/USD is trading at 1.1120. Strong support at 1.1080. Major target for bulls 1.1400.

Offline rosentray

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Re: Rosen's Daily
« Reply #10 on: March 14, 2016, 12:55:18 PM »
The EUR/USD lost a bit from what was gained during the last two days of the previous week. Nevertheless, the pair is now trading in the uptrend channel and looks ready to test the first support at 1.1080. If this support holds, then the pair might attempt to test first resistance which appears to be the last high of 1.1220.

Offline rosentray

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Re: Rosen's Daily
« Reply #11 on: March 16, 2016, 10:26:19 AM »
The EUR/USD is trading lower today due to technicals and fundamentals combined. Main trend remains bullish, but a correction is currently taking place and driving price down below 1.11. First support 1.1060. First resistance 1.1135.

Offline rosentray

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Re: Rosen's Daily
« Reply #12 on: March 16, 2016, 11:19:32 AM »
Gold is currently consolidating around the $1,230 level. Below $1220 we might witness an attempt for $1,200. Above $1,238 we are headed towards first resistance at $1,255.

Offline rosentray

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Re: Rosen's Daily
« Reply #13 on: March 16, 2016, 11:20:00 AM »
GBP/USD lost a lot and is currently consolidating. I hope it find support and bounce off from here.

Offline rosentray

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Re: Rosen's Daily
« Reply #14 on: March 16, 2016, 11:26:58 AM »
Silver is close to visiting the $15 level. This would be a good time to enter the market and hold it for the long-term. First resistance is 15.35, first support is 15.00.