More Greek drama…
During the session on Tuesday, you can expect more Greek drama. Because of this, all we can do is simply look at the charts and basically ignore most of the economic announcements around the world. With that being said, we take a look at 3 markets…
EUR/USD should continue to offer call buying opportunities
The EUR/USD pair gapped lower at the open on Monday, but then turned back around to fill that very same gap almost immediately. With this, we believe it shows that the market will more than likely continue to find buyers underneath. With that, we look at short-term dips as short-term call buying opportunities. This will remain in effect until we break down below the 1.09 handle.
DAX falls but find support
The German index fell during the session on Monday, but found support near the €10,800 handle. With that, the market looks as if it is ready to bounce from here and continue to consolidate in the general vicinity that we have been in during the last couple of weeks. Because of this, we feel that the market will probably offer short-term call buying opportunities towards the €11,200 level.
GBP/USD suddenly looks as if it wants to test support
The 1.55 level below should be fairly supportive for the British pound, so we are simply going to wait until we get to the 1.55 level in order to serve buying calls. On the first signs of support, we are doing so as we think the market will more than likely continue to bounce off of that vital large, round, psychologically significant number.
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