During the day on Wednesday, we have several announcements coming out during the course of the day, including the FOMC Statement, the Crude Oil Inventories number, and of course an interest rate announcement coming out of New Zealand. Ultimately, we feel that the market will continue to be very volatile and as a result we could find yourselves in several different trades.

French market falls, then find buyers

The CAC initially fell during the course of the day, reaching towards the 4200 level. The 4200 level was supportive enough to turn things back around and form a bit of a hammer. If we can break above the 4400 level, this market should continue to go much higher.

Silver markets rally but find resistance yet again

Silver markets tried to rally during the course of the day on Tuesday, but found resistance above the $14.40 level. Because of this, the market looks as if there will continue to be a bit of a fight above, and is not until we break above $14.60 that we are willing to start buying calls. Exhaustive candles are short-term put buying opportunities.

USD/CAD falls

The USD/CAD pair fell during the day as we continue to consolidate around the 1.42 level, mainly because the oil markets got a bit of a bounce. Ultimately, this market looks as if it has a massive amount of support at the 1.40 level, so as a result we are waiting to see whether or not we get a bounce in order to serve buying calls again.