Today's Trading Tips & Market Analysis - February 16, 2015

Video Length: 00:01:49

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The Monday session features almost nothing economic announcement related, and with the Presidents’ Day holiday being celebrated in the United States, US stock markets will be closed. Because of this, we anticipate that there will be a fairly quiet trading session on Monday, but there are a few markets that we are paying attention to.

1 – Gold markets rose during the course of the session on Friday, testing the $1230 level, and we believe that the market is ready to go even higher given enough time. Ultimately, we think that the gold markets will head to the $1240 level, which is a much more significant resistance barrier. We think that pullbacks are call buying opportunities in the meantime, based upon short-term charts of course.

2 – The EUR/USD pair tried to rally on Friday but failed. The resulting candle is somewhat like a shooting star and it shows that the area above the 1.14 level is resistive. There is a significant amount resistance at the 1.15 handle above there as well, so having said that the market still looks like it’s going to selloff overall. We like buying puts, as the Euro simply has far too many issues and we believe that the market is heading towards the 1.13 level, and then the 1.11 level.

3 – The DAX tried to break out during the session on Friday, but the €11,000 level offered far too much in the way of resistance. If we can break above the top of the range for the session on Friday, we’ll see any reason why the DAX will continue going higher. A pullback at this point time should be a call buying opportunity based upon short-term supportive candles.