Silver Tries To Rally Above $17, DAX Tests €11,800 Handle
Binary Options Strategy | Mar 25, 2015 05:41AM ET
Looking at the session on Wednesday, there is pretty much nothing on the economic calendar that will move the markets, so we have to look at the charts for trading opportunities. We believe the EUR/USD is going to offer put buying opportunity soon, and as a result we are looking for signs of resistance that we can take advantage of in the longer-term downtrend. The higher this pair goes, the more likely that happens.
Silver markets tried to rally above the $17 level during the session, but failed as we stalled. Ultimately though, we do think that the markets go above there and head towards the 17.50 level. Given enough time, we think that short-term pullbacks will continue to be call buying opportunities going forward, and as a result we have no interest in buying puts at this moment although we recognize that could change.
Looking at the DAX, we had a fairly quiet day, but we did test the €11,800 handle. We found support there, so therefore looks like every time we pullback in the short-term chart you can start buying calls. We believe that eventually the DAX will break much higher, but in the meantime recognize that it might be a lot of short-term trading ahead. We believe that the DAX will continue to benefit from greater ECB liquidity in the marketplace as monetary policy remains extraordinarily loose at the moment.
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