Looking at the silver markets, you can see that we fell during the session on Friday, but we remain above the 15.50 handle. This is an area that has been massively supportive all the way back to the month of November, so we believe that there should be plenty of buyers in that region. We are waiting for a supportive candle or an impulsive green candle on short-term charts in order to serve buying calls again. We believe this is a short-term call buying opportunity.
The FTSE was stuck at the 7100 level yet again on Friday, as the sellers step been and push the market lower every time we get close to that handle. However, it is probably only a matter time before we break out, and we believe the 7000 will continue to be massively supportive. We are looking to buy calls on supportive candles closer to the 7000 handle as we prefer to trade with a longer-term uptrend.
Looking at the EUR/USD pair, we found a lot of resistance above the 1.08 handle, and quite frankly we think that the resistance extends all the way to at least the 1.10 level. It is up there that we expect to see massive selling, but quite frankly it would not surprise us to see sellers step in between here and there as well. A resistive candle on the shorter-term chart is more than enough reason to start buying puts in this pair going forward as the US dollar should continue to be the favored currency in the Forex markets going forward. Ultimately, we believe that the market will test the parity level given enough time.
