German Unemployment Numbers Could Turbocharge A Move
Binary Options Strategy | Jun 30, 2015 03:26AM ET
During the session on Tuesday, there will be a lot of volatility due to the problems in Greece, but the one economic announcement that could really turbocharge a move will be the German Unemployment Numbers. Because of this, we are paying attention to EUR/USD and the DAX of course.
The EUR/USD pair gapped much lower at the open on Monday, but found far too much in the way of support at the 1.10 level to turn things back around and fill that gap right away. The lack of conviction by the sellers has us thinking that call buying opportunities will present themselves again and again on short-term charts. With that, we believe that the marketplace will continue to be positive over the longer term.
The DAX fell rather hard, but does see quite a bit of support at the €11,000 level. Because of this, we are buyers of calls on short-term pullbacks and show signs of support. We also like any type of impulsive candle to the upside. We don’t really have an interest in buying puts at the moment, as we believe ultimately the uptrend will continue.
Silver markets tried to rally but failed during the session, and as a result, we are ignoring them for the most part. We believe that there is massive support at the 15.50 level, and as a result, it’s probably only a matter of time or the buyers come back into the marketplace, but be aware of the fact that this will be a very volatile situation.
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