With the European Central Bank releasing an interest rate statement and of course having a press conference during the day, there is a good chance that we will have a bit of volatility early in the trading hours. We also get the ADP Nonfarm Employment Change numbers, which of course is the precursor to the actual jobs number out of America. With both of these announcements coming out it’s likely that there will be opportunities in the market.

WTI Crude Oil

It appears that the WTI Crude Oil market is going to continue to look for buyers below as we have fallen yet again on Wednesday. There are several supportive areas below though, so it’s likely that call buyers will eventually be attracted to this market. It’s not unusual for a level like the round number $50 to cause a bit of resistance.

Increased volatility in the Swiss franc

The USD/CHF pair has gone sideways over the last couple of weeks, one thing that is starting to become apparent is that we are trying to get enough momentum built up to make a move. The candles are getting longer, and that generally means that we are getting ready to see a move. Because of this, if we break hard in one direction or the other, that should be the way that the market goes for the next several days. Be advised that this is a market a lot of traders will be watching.

DAX falls again

The German index fell again during the day on Wednesday, but there is a significant amount of support just below, so it’s likely that call buyers will be attracted within the next couple of sessions. The pullback makes sense, because we did test the recent high, so will have to see whether or not the call buyers entering, but if they do it will more than likely increase the momentum to the upside.