During the session on Friday, we will have the hangover from the James Comey testimony in front of Congress, the ECB announcement, and the UK Parliamentary Elections. In other words, it could be a relatively quiet day but we will be watching the following assets.
USD/CAD
The US dollar continues to grind sideways against the Canadian dollar, and it now looks as if range bound trading will be the norm. However, if we can break above the 1.3550 level, call buyers will more than likely attracted to the market and jump in.
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USD/CHF
The US dollar rallied against the Swiss franc on Thursday, reaching towards the 0.97 level. However, that’s an area that has previously been supportive, so it should now be resistance. With that being the case, put buyers might be interested in jumping in near this area.
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DAX
The German index continues to find support just below, near the €12,600 level. It looks as if every time we dip, the call buyers return to a market that’s been reliably bullish for several months.
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