European Union employment numbers and more
During the day on Tuesday, we have several announcements out there that could move the markets. Without a doubt, the European Union employment numbers could be the biggest movers of the market, but we also have US Manufacturing ISM numbers. With this, we believe that there should be several trading opportunities.
Gold bounces
Gold markets bounced during the session on Monday, as we have seen quite a bit of support at the $1050 level to turn things around and form a fairly positive looking candle. Ultimately, it appears that there is a significant amount of resistance near the $1070 level, and above of course. We are buyers of puts as soon as we see signs of exhaustion above.
French market should continue to go higher
During the session on Monday, the CAC pulled back to test the €4900 level. We did of course bounce from there, and as a result it looks as if we are heading towards the €5000 level and possibly higher than that. Once we break above 5000, we have the opportunity to go much higher. In the meantime though, we look at pullbacks as call buying opportunities on short-term charts.
USD/JPY continues look strong
The USD/JPY pair broke higher during the course of the session on Monday, as we continue to see strength in the US dollar. We believe that the market should continue to go much higher, grinding its way towards the 1.25 handle. This is especially true this week, as we have the Nonfarm Payroll Numbers coming out this Friday. We are buying calls on dips and of course buying calls on breakouts to the upside.
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