During the session on Tuesday, we get the SNB Chairman speaking, and the German Ifo announcement. That’s about it though, and as a result we think that this will be more or less a technically driven type of market today.
Silver shows great tenacity
The silver market fell rather drastically during the course of the session on Monday, testing the $15 level. With that being the case, we found enough buying pressure of calls to turn things back around and form a hammer. The hammer of course is a very bullish sign, but if we can break above the top of that hammer, that is a very positive technical signal. At that point, we would be call buyers and would expect the market to reach towards the $15.80 level.
USD/CHF takes off
The USD/CHF pair broke higher during the course of the session on Monday, testing the parity level. If we can get above the parity level, we would continue to buy calls as is market should continue to go much higher. At this point, it is also possible that the SNB Chairman says something to rattle the markets. With this, we are paying a lot of attention to this particular pair as it could be a nice call buying opportunity in the making.
Nasdaq 100
The Nasdaq 100 rose again during the course of the session on Monday, as it looks like we are still trying to get to the 4300 level. With this, we are call buyers on short-term pullbacks again and again, as it should be a lot of short-term trades that are made available for us.
USD/JPY: Finds support at 112.00
The pair USD/JPY is trading downwards, close to support level at 112.00. We might be buyers of put options in case of a move below the 112.00.
On the other hand, a move above the resistance area of 114.87-115.00, it might open the way for call options.
AUD/USD: Resistance at 0.7245
The AUD/USD is trading close to resistance level at 0.7245, with a daily close above the resistance level exposing the level to move higher. It could be interesting of buying call options for the AUD/USD.
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