During the day on Friday, we get the University of Michigan Consumer Sentiment numbers coming out of the United States, as well as GDP numbers coming out of Canada and the United Kingdom. With this in mind, we look at the following 3 assets:
Silver
Silver markets continue to hover just below the $16 level, and with the possibility of moves in the US dollar coming today, silver will be an interesting place to be. A break down below the bottom of the hammer from the Tuesday session should send put buyers into the marketplace, just as a rally from here that show signs of exhaustion should be.
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EUR/USD
The EUR/USD pair rallied on Thursday, try to reach towards the 1.05 level above. This is an area that was previously supportive, and stringently sell. Because of this, we could see put buyers enter the market at the first signs of exhaustion just underneath this level as they want to take advantage of the longer-term downtrend.
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USD/CAD
The US dollar rallied against the Canadian dollar during the session on Thursday, testing the 1.35 level. This is an area of significant resistance, extending all the way to the 1.35 level. However, it looks as if we are trying to break out so if oil falls, that should help this market higher. In the meantime, short-term pullbacks could be call buying opportunities going forward.
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