April 8th – Today's Trading Tips & Market Analysis

Video length: 00:3:04

1. Looking at the EUR/USD pair, you can see that the market did in fact fall again. If we can get below the 1.08 level, we feel that this market will then drop to the 1.05 level. With that, we are buying puts below there, but also recognize that there is the possibility of an ascending triangle forming so we do need to see that break down in order to feel comfortable buying puts at this point.
    
2. The silver markets continue to go sideways and quite frankly are not much to look at. We believe that the bottom of the range is 16.50 and the top is 17.50 at this moment. You can say the same thing about gold as well, except that the range would be between 1180 and 1220. However, we do feel much more comfortable buying puts in the gold market and recognize that 1200 could offer a little bit of support. This would be a short-term trade only.
    
3. Looking at the FTSE, you can see that we have broken above the 6900 level, so we feel that this market will then head to 7000. At this moment in time we like buying calls every time the market pulls back on a short-term chart, and do believe that we are heading towards new high is eventually. We have no interest in buying puts, there simply far too much in the way of support below. With this, we believe that the FTSE will eventually break above the most recent high, and then head towards 7250 or so.