The EUR/USD pair initially tried to rally during the course of the session on Monday, but fell backwards in order to form a shooting star. That being the case, the market looks as if it could fall from here in order to offer a put buying opportunity. Ultimately, we believe that this market will head down to the 1.11 handle but also recognize that there is going to be a lot of volatility between here and there. The 1.15 level above should be massively resistive.
The gold markets tried to rally as well, but turned back around to form a shooting star. That being the case, the market looks as if it could fall back down towards the 1200 level but ultimately we believe that there will be enough support there to turn things back around and start buying calls as ultimately we should head towards the 1300 level.
The FTSE fell slightly during the session on Monday, as the market continues to struggle with the 6900 level. That area should eventually give way to the buyers though, as the market will continue to go higher over the longer term. Pullbacks at this point time should be call buying opportunities as the market certainly has plenty of momentum underneath it. Look to these pullbacks as value, as the FTSE should eventually break above the 6900 level, heading to the 7000 level and beyond. We have no interest in buying puts in this market, simply because there is so much in the way of bullish intent.