During the session on Monday, business confidence numbers will come out from across Europe, and that of course will move the stock markets. This will also put a focus on Europe in general, although we do have the Core PCE numbers coming out of the United States which could also move the markets.

Silver looking strong

Silver markets initially fell during the course of the day on Friday, but found support at the $15.00 level. This is of course a very strong sign as we bounced from there and it looks like we’re going to try to continue to go to the $15.50 level. With this, it’s only a matter of time before we break out to the upside in aim for the $15.50 level in our opinion. We are call buyers but recognize volatility will be strong.

Chart 1

 

AUD/USD looking to bounce short-term

It appears that the AUD/USD pair is looking to bounce short-term, and if you are a short-term trader you can probably take advantage of this. However, we actually prefer waiting for some type of rally in order to start buying puts. We believe that the market will struggle to get above the 0.72 level. It depends on how quick and nimble you can be, you could possibly buy calls and then turned back around and buy puts at this point. We believe that the 0.69 level will continue to be supportive.

 

chart 2

 

DAX rallies

The DAX broke above the top of the hammer from the Thursday session during Friday’s trading, and this means we will probably try to reach towards the €10,000 level. We believe short-term call buying is possible, but also recognize that 10,000 will in fact be a bit of a barrier to get above.

 

Chart 3