During the session on Monday, we don’t necessarily anticipate much in the way of volatility as there’s almost nothing to move the market in the way of economic announcements. Ultimately, we believe that this market will be fairly quiet during the day.
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1 – The EUR/USD pair fell during the course of the session on Friday, but at the end of the day we did get a little bit of a bounce. Because of this, we feel that this market will continue to go much higher and eventually will break above the 1.15 level. If we can get above there, the market should become more or less a “buy-and-hold” type situation. We believe that buying calls on short-term dips will be the way to go going forward, and as a result we are bullish.
2 – The FTSE tried to rally during the session on Friday, but we pulled back to form a bit of a shooting star. The shooting star of course is a negative sign, but it is preceded by a hammer. That being the case, the market looks as if it’s ready to go back and forth and as a result we believe that short-term call buying opportunities can present themselves support just below. We would look for short-term supportive candles in order to start buying calls.
3 – The WTI Crude Oil market fell during the course of the session on Friday, as we continue to grind sideways overall. We believe that somewhere bank near the $59 level should be support, and we are buying supportive candles below in order to take advantage of a fairly well defined range. We believe that ultimately this market goes higher, and it is not until we break down below the $57 level that we would consider buying puts, as is market seems to show real strength underneath.
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