On a day that has several announcements coming out, this could be very volatile. The most important one in our estimation is the ADP Employment Change numbers coming out of the United States as it is a harbinger of the Nonfarm Payroll numbers coming out on Friday.
EUR/USD
The EUR/USD pair continues to bounce around in consolidation, so it’s very likely that back and forth trading will continue. Currently, looks as if buyers will return near the 1.05 level on the bottom, and the sellers will return at the 1.0950 level. This is excellent trading conditions for short-term traders.
WTI Crude Oil
The WTI Crude Oil market continues to try to rally on short-term charts, but as you can see on the chart the put buyers come back in every time they get an opportunity. With this, sellers should continue to be attracted to rallies, and it looks as if the $50 level above is massively resistive.
USD/CAD
The US dollar continues to rally against the Canadian dollar, as well markets continue to look soft. Because of this, every time this market pulls back it’s very likely that buyers will return.