During the day on Thursday, we get a handful of announcements, but quite frankly they aren’t necessarily going to be any major ones to move the market in general. That being the case, market should continue to be fairly straightforward, and as a result we will follow trends more than likely.
FTSE
The FTSE rose during the session on Wednesday, bouncing off of the support level just below the 6100 level again. With this, looks as if the market is trying to continue the consolidation that we’ve seen overall, and this could be attractive to call buyers as the market has been bouncing between the 6050 level, and the 6200 level.
USD/CAD exhausting
The USD/CAD pair tried to rally during the day on Wednesday, but seems to be struggling near the 1.32 level. Pay attention to oil, because it does tend to have an effect on the Canadian dollar as well. With this though, it looks like we will see the buyers perhaps head back into the market as the downtrend has been fairly strong lately.
Silver markets looking for support
Silver markets fell initially during the day on Wednesday, but found a bit of support above the $14.80 level. That being the case, it looks as if we are trying to form a hammer, and if we can break above the $15.20 level, it’s very likely that call buyers will be interested in trying to get involved in the markets.
EUR/GBP: Continues higher.
The pair EUR/GBP is trading upwards, above the resistance-turned-support at 0.7900-0.7925. The last sessions the pair showed strength to move higher.
On the other hand there is a possibility for the pair to trade lower than the support level, where in this case will be necessary to observe a reversal pattern.
GBP/JPY: Falls.
The GBP/JPY fell during the last two sessions, breaking below the supportive area at 154.65. It would not be unexpected for the pair to continue to this direction.
However, a move back to 155.00 perhaps offer opportunities for call buyers.
