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Daily Market review brought to you by OptionsClick -September 29th: Very little economic announcements to move the market
September 29th: Very little economic announcements to move the market During the session on Tuesday, there’s very little to move the markets as far as economics are concerned at the moment. After all, the CB Consumer Confidence numbers would be one of the largest ones, and that isn’t exactly a major mover.
EUR/USD continues to consolidate
The market for the EUR/USD pair continues to be very tight, with the 1.11 level below offered support, and the 1.13 level above offering significant resistance. We believe that the market continues to consolidating go back and forth between these 2 levels, offering short-term range bound trading opportunities. We are buyers of puts closer to the 1.13 handle, and buyers of calls closer to the 1.11 handle. However, we will probably have to do these trades off of short-term charts
CAC looks soft
The Parisian index looks very soft at the moment, but the €4300 level below should still be rather supportive. It is because of this that we are actually waiting to see some type of supportive candle in order to start going long. Ultimately, we believe that the market could bounce back towards the €4500 level given enough momentum. If we break down below the €4300 level, we feel the market will then reach towards the €4200 level, offering a put buying opportunity.
WTI Crude Oil offering support
The WTI Crude Oil market continues to see quite a bit of support at the $44 level, so we are buyers of calls in that general vicinity. Is not until we break down below the $43 level that we could be buyers of puts. In the meantime, we think short-term call buying opportunities will continue to exist in the general area of $44.
DISCLAIMER
The material provided in this market review and the linked websites is for general informational purposes only and is not intended to be your only source of information when you are making financial decisions. This information is not investment advice nor a solicitation to buy, sell or make any type of investment decision in securities or any financial instruments offered by Optionsclick®. Optionsclick® is not a financial advisor. Opinions are the authors and information provided should be treated as a guide only and it is not a substitute for independent professional advice. You should seek independent professional advice relevant to your particular circumstances. OptionsClick® have made every effort to ensure that the material published here is accurate. OptionsClick® takes no responsibility nor does it accept no liability arising from:
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Tuesday, 29 Sep, 2015 / 12:41
Source : http://blog.optionsclick.com/?oftc=999&p1=35107_367706&p2=35107
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