Video Length: 00:02:02
Watch the video for full Market Analysis – Tips Below
1 – The Friday session features the nonfarm payroll numbers, so keep in mind that there can be a lot of volatility because of this. With that being the case, the market will more than likely pay attention to the S&P 500 as it is getting ready to test the top of the consolidation area at the 2065 region. We need to break above there in order to buy calls, or get pullbacks and show signs of support below as it would represent value. The S&P 500 has been rather range bound lately, and we anticipate that to be the case going forward.
2 – The gold markets fell a bit during the session on Thursday, but at the end of the day we still find plenty of support at the $1260 level, and as a result we are buyers of calls above the break of the top of the range for the day. At that point time, we would anticipate the gold should make a run towards the $1300 handle.
3 – Looking at the EUR/USD, it appears that we will continue to grind in the general vicinity just below the 1.15 handle, which of course is resistive based upon the fact that it is a large, round, psychologically significant number. We are looking for resistive candles in order to buy puts, as we believe that the downtrend should continue and that ultimately we should head to the 1.10 handle.
Comments
Log in or sign up to join the conversation.