With a very quiet economic calendar on Monday, it’s likely that we will see much in the way of headline shock. However, there is a monetary policy statement coming out of Australia, so that could be the one outlier.
AUD/USD
The Australian dollar rose slightly during the session on Friday, and it looks now as if the 0.7750 level is the barrier that everybody’s trying to break through. It’s quite possible to call buyers will look at pullbacks has value, demanding higher levels. A break above the 0.7750 level should also be very encouraging for the call buyers.
Gold
Gold markets rose again during the session on Friday but will run into a little bit of trouble at the $1240 level. On pullbacks though, it’s very likely the call buyers will return as we have seen a fairly impulsive move to the upside. That being the case, it will more than likely be short-term trading.
WTI Crude Oil
WTI traders tried to push the market higher on Friday, but found far too much in the way resistance above the $49 handle. Because of this, it looks as if put buyers are jumping into this market every time he tries to rally.
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