July 10th – Market Analysis & Trading Opportunities

During the session on Friday, there is an awful lot out there to move the markets as far as economic announcements are concerned, with perhaps the exception of Canadian employment numbers which of course would move the Canadian dollar itself, and with that we would anticipate a fairly technical day. Of course, there are Greek headlines that could come out and move the markets.

1 – As it is the epicenter of the trading universe right now, the EUR/USD pair is in focus. It looks as if the markets going to bounce back and forth. We believe that there is massive support at the 1.10 level, extending all the way down to the 1.09 handle, so we are buyers of calls for short-term trades.

2 – The WTI Crude Oil markets rose slightly during the session on Thursday, as it looks as if we are going to continue to consolidate. We believe the consolidation will be between the $50 level, and the $53 level. With this, we are buyers of calls on pullbacks, especially if we get close to the $50 level.

3 – The DAX had a positive session, and if we can break the top of that range we think that the market will then head to the €11,250 level. We look at short-term pullbacks as a potential call buying opportunity as well, as the DAX should represent value right now.