Monday's Market Eyes German CPI
Binary Options Strategy | Jun 29, 2015 03:08AM ET
The German CPI numbers are without a doubt the largest announcement coming out during the session on Monday. Quite frankly, the most important announcement for the entire week will be the jobs number coming out of the United States on Thursday, but in the meantime we could expect a bit of movement out of Europe.
The DAX continues to bounce between the €11,200 level on the bottom, and the €11,400 level on the top. We are buyers of calls on short-term pullbacks as we believe ultimately the DAX will continue to do much better than most other European indices with perhaps the exception of the CAC.
The EUR/USD pair continues to have plenty of support near the 1.11 level, and probably even more at the 1.10 level. With that, we are buyers of calls on short-term pullbacks for short-term trades. We are not looking for massive fireworks, we believe that summertime trading will keep this market fairly quiet.
Gold markets continue to find a bit of support at the 1170 level, and every time they pullback offer short-term call buying opportunities. They are nothing more than short-term call buying opportunities though, so having said that we are not looking to get married to any particular position.
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