With several announcements coming out during the day on Wednesday, we could get a bit of volatility. We get the employment numbers coming out of United Kingdom, the crude oil numbers coming out of America, the FOMC Meeting Minutes coming out of America as well, followed by employment in Australia.

AUD/USD

The Australian dollar rallied a bit during the day on Tuesday, but faces a serious challenge in the form of the 0.74 level, and most certainly the 0.75 handle. With this being the case, signs of exhaustion will more than likely attract put buyers as we have had a significant breakdown recently.

Parisian index consolidates

The CAC went back and forth, showing that we are still consolidating around the €4300 level. If we can pull back from here, short-term call buyers may enter the market as it looks like we have seen so much in the way of support just below at the €4200 level. Ultimately, short-term trades are probably about as good as your going to get.

FTSE struggles at 6200

The FTSE tried to rally during the course of the day on Tuesday, but found quite a bit of resistance at the 6200 level. Because of this, we ended up forming a bit of a shooting star, and it looks like we are going to continue to consolidate between 6160 200. On the other hand, if we can break above the top of the shooting star, that would be a very bullish sign.