During the Monday session, we only get Core PCE numbers, so quite frankly were not expecting much in the way of announcements to move the markets. With this being the case, it makes sense that the markets will simply follow previous moves.
USD/CAD
The USD/CAD pair did very little during the session on Friday, and we recognize that we are still fairly negative but if we can break above the top of the shooting star from the Thursday session, we would be call buyers as the market should then reach towards the 1.34 level. If we break down below the 1.32 level, we would then be put buyers for a short-term move lower.
EUR/USD
The EUR/USD pair did very little on Friday, but it does look like we are starting to find quite a bit of support near the 1.1150 level, and as a result of this we believe call buyers will come into the market and push this pair towards the 1.13 level. We don’t have any interest in buying puts at this point in time, because there’s so much in the way of support.
Silver finding support
Silver markets are trying to find a bit of support just above the $15 level, as there is an extension of support between $15 and $50.20. With this, on a bounce we are more than willing to start buying calls again.
