Looking at the Wednesday session, without a doubt the most important announcement is going to be the interest-rate decision out of the United States. The FOMC of course will make a statement that of course will bring in a lot of scrutiny as well, and that is going to be the one thing to pay attention to. Parsing what the words mean is a necessarily as important as figuring out what the market thinks about them. And that is what we will have to wait to see. Because of this, we could have a fairly quiet session until the middle of the afternoon in America.
That being said, the Core Durable Goods Orders number in America on Tuesday came out less than anticipated, and it brought the value of the S&P down. We ended up falling rather drastically, but it is probably more or less a culmination of the bad number and the fact that a lot of traders will not want to be in the marketplace when that announcement comes out today. We still believe that the 2000 level offers quite a bit of support, and as a result we are actually looking for supportive candles in order to buy calls.
The gold markets also rose during the day, but as you can see on the chart we are struggling to overcome the $1300 level. With fact, we feel that a break above that area should send this market looking for the $1320 level, and then the $1340 level. Pullbacks will also offer buying opportunities in our opinion, especially down to the $1250 level. We like buying supportive candles and breakouts it via calls, and have no interest in buying puts at this point in time.
gold daily
The EUR/USD pair rallied during the session on Tuesday, but we still have to deal with the 1.15 level and as a result we are looking for resistive candles in order to start buying puts again. We have no interest in buying calls at this point in time.