Looking at the overall markets, we think that the slew of minor economic announcements coming out of the European Union and the United States could move the markets even further as the Thursday session has been quite interesting.
The US dollar seems like it is a little bit on its back foot at the moment, but we are not quite ready to give up on the greenback yet. We believe that one of the most important currency pairs that you need to watch is the EUR/USD pair as usual, because it is trying to break out to the upside. If we get any type of blowback, we believe that the US dollar will get a bit of a reprieve and strengthen. Pay very close attention to the region around the 1.12 handle in that particular pair to give you a heads up on where the US dollar may go.
Looking at precious metals, but they do look a little bit overextended at this point in time. However, this is probably highly correlated to the US dollar going lower. With this, we will have to pay close attention but also believe that we will have volatility regardless of what happens next.
US stock markets fell on Thursday, but are approaching pretty significant support areas. With this, we are bullish of stocks on signs of a bounce or supportive, and at that point in time would be buyers of calls in the S&P 500, NASDAQ, and the Dow Jones 30.
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