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EUR/USD Ready To Continue Higher

ByOptionsClick
Published 06/04/2015, 07:19 AM
Updated 04/25/2018, 04:40 AM
EUR/USD
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UK100
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GC
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Looking at the gold market, it has been rather quiet, but the market seems to be well contained within a very distinct trading range. The $1180 level on the bottom and the $1210 on the top continue to be the boundaries on this marketplace, and as a result of us being close to the bottom, we think that it’s very possible that the market should go higher from here, and as a result we are buyers of calls as long as we can stay above the $1180 level.

Looking at the FTSE, we continue to struggle to go higher, but eventually we think it will happen. The 7100 level remains important, and if we can get above there, we would finally feel that it would be a long-term “buy-and-hold” type of market. We think that pullbacks continue to offer call buying opportunities because of all of the support we see at the 6900 level.

The EUR/USD pair looks like it’s ready to continue going higher, as the 1.12 level is currently being attacked. If we can break above there, we feel that the EUR/USD pair then heads to the 1.14 level, where it will start to try to break out for a longer-term buy-and-hold type of market. Ultimately, we believe the pullbacks will continue to be buying opportunities for calls going forward, and we have no interest in buying puts until we get well below the 1.10 level for a move down to the 1.08 handle.

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