With Manufacturing PMI and non-Manufacturing PMI numbers coming out on both sides of the Atlantic today, today could be a bit choppy. With this in mind though, we are watching the following 3 markets with great interest:
USD/JPY
The USD/JPY pair fell overnight, but continues to find support at the 110 region. Because of this, call buyers could be interested in getting involved soon, as we have seen reasonably reliable support. There seems to be a bit of a “ceiling” in the market at the 112 level though.
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Silver
Silver markets continue to grind higher, but ran into a bus all of resistance at the $18.40 level. Because of this, call buyers will more than likely be waiting below in order to take advantage of what has been a very stubborn grind higher.
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DAX
The German index fell again during the session on Tuesday, but continues to find support near the €12,200 level. Because of this, the call buyers will more than likely be waiting and ready to pounce on the first signs of support or a short-term bounce.
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