Looking at the upcoming session, we believe that the ADP Employment Numbers will probably be the biggest mover of markets. The exception, of course, being anything coming out of Greece, which can change in the blink of an eye.
The EUR/USD pair continues to find buyers below, even though we drifted a little bit lower on the session for Tuesday. We believe call buying opportunities exist below, and that it’s only a matter time before the market rallies a bit, but does have a bit of a ceiling at the 1.14 level.
Silver markets look extraordinarily soft, but there is significant support just below. Because of this, we are actually looking for call buying opportunities, but do not see any at the moment. A supportive candle or bounce is needed.
Looking at the S&P 500, we try to rally back all of the gains. Nonetheless, we are sitting just above significant support, and believe that it’s only a matter of time before we get a call buying opportunity. With this, we believe that using short-term charts to start going long via calls will be the way to go going forward.
