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Core CPI October 22, 2014

Published 10/22/2014, 01:41 AM
Updated 05/14/2017, 06:45 AM

During the session on Wednesday, we anticipate that there could be a bit of volatility based in the United Kingdom due to the fact that the MPC Minutes come out, and that can give us a bit of a heads up on what monetary policy might be coming out of London. With that, anticipate that the GBP/USD pair and the FTSE could move back and forth due to its wording.

The EUR/USD pair continues to offer put buying opportunities, as the 1.28 level above offered enough selling pressure to turn the market back around during the Tuesday session. With that being the case, we continue to buy puts every time this market rallies on short-term charts. With that being the case, the market should continue to drop, and we will continue to buy puts every time this market shows any signs of weakness after rallying.

Looking at the DAX, you can see that we are testing the €8900 level, and if we can get above there we believe that the market will continue to go much higher. We will buy calls on a break above there, and certainly will buy calls if we drop a bit and find support below as well. We have no interest whatsoever in buying puts.

Gold markets look like they’re trying to break out above the $1250 level, and we believe that buying calls on short-term expiration options will be the way to go, every time we pull back and find support on short-term charts. We believe that the markets will continue to try and head towards the $1280 handle.

Silver markets are trying to break out to the upside as well, but it isn’t until we get above the $18 level that we feel comfortable buying calls. Because of this, we still look for resistive looking candles in order to buy puts, but do not have any type of set up at this point in time that were willing to risk money on.

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