Weakening USD Pushes Metals Higher
Binary Options Strategy | May 18, 2015 02:09AM ET
The session on Monday will feature very little in the way of announcements to get the markets going, but we are looking at this as a “technical day”, and with that we look at the silver market with great interest. The market broke above the 17.50 level on Friday, and should now head to the 18.50 level. We are buyers of calls as a result, and think that a weakening US dollar should continue to push metals higher in general.
The S&P 500 continues to try to break out and above the 2120 level, as the buyers maintain their composure. With this, we think that the market will eventually go higher, thereby giving us an opportunity to buy calls every time we pull back in this market. The market shouldn’t be played with puts at this point; it is far too strong.
The EUR/USD pair pulled back a bit during Friday, but then found enough buying pressure to go back towards the highs of the session – eventually showing real strength. We feel it is only a matter of time before we break above the 1.15 level, and change the entire trend. We will not buy puts, and look at pullbacks as an opportunity to buy calls.
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