Little in the way of economic announcements
Looking at the session on Friday, it’s very unlikely that we will have much in the way of volatility as far as economic announcements are concerned. After all, the only announcements that we are seeing coming out during the day would be Canadian in nature, and of course will have very little effect on site of that currency. The Federal Reserve announcement on Thursday will of course be a major player, and that affects the US dollar which of course affects everything else.
EUR/USD looks ready to go higher
Looking at the EUR/USD pair, it appears that we are ready to go higher and although we are writing this before the Federal Reserve announcement, we do recognize that a move above the 1.14 level would be extraordinarily bullish, and that would be a call buying opportunity. On the breakout, we are more than willing to risk money on the Euro.
Germany continues to go sideways
The DAX did very little during the session on Thursday, but we clearly have a resistance barrier at the €10,500 level. If we can get above there, the market should then continue to go much higher. With that being the case, the market should then head to the €10,800 level next. If we pullback from here, we think there’s more than enough support all the way down to the €10,000 level.
FTSE continues to build momentum
The FTSE continues to build momentum in our opinion, and as a result we are waiting for a break out above the 6300 level in order to serve buying calls. At that point in time, we believe that the market would then head to the 6400 level, and then possibly the 6500 level. We are very bullish of the FTSE, and have no interest in buying puts until we get well below the 6000 level.
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