Daily Trading Opportunities – Tuesday, February 7

During the session on Tuesday, we get a handful of announcements that could move the market slightly, but nothing earth shattering. We get the Canadian Ivey numbers, the Halifax Housing numbers coming out of the United Kingdom, and a few other mid-level European announcements.

Silver

The Silver markets rallied slightly at the beginning of the session on Monday, but it looks as if we are ready to continue consolidating. Ultimately though, there is a significant amount of support just below, and given enough time it should continue to attract call buyers.

USD/CAD

The US dollar bounced a bit off the 1.30 level during the Monday session, and with the Canadian Ivey numbers coming out during the day, we could get a little bit more bullish pressure. The 1.30 level of course is a psychologically important level, so it’s perhaps an opportunity for call buyers to get involved.

CAC

The Parisian index fell a bit during the session on Monday, as we go looking for support at the €4750 level. If we can bounce from there, call buyers will probably take over again. However, a breakdown below that level could embolden put buying.