During the day on Monday, there is almost nothing in the economic landscape as far as announcements are concerned to get us interested in some type of knee-jerk reaction, so we believe that “steady as she goes” will be the way for the day.

CAC looks healthy

All of a sudden, the French market looks very healthy. Having said that, the weekly candle stick is a hammer and it now looks as if the call buyers going to come back into this marketplace. If we can break above the 4500 level, we believe that this market will go much higher. In the meantime, call buying opportunities may present themselves on short-term pullbacks.

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Gold markets pullback, still show strength

Gold markets initially fell during the day on Friday, but we have plenty of support below and therefore looks as if the call buyers are going to return somewhere just underwear we are now. We believe that the market is trying to build up enough momentum to break above the 1110 level, and when it does the call buyers will completely take over.

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EUR/USD pair falls

The EUR/USD pair fell during the course of the day on Friday, testing the 1.08 level. We believe that there is support all the way down to the 1.07 level, but the Euro does continue to look a bit soft overall. It’s almost like we are getting a slow and gradual grind to lower levels. A short-term rally should be put buying opportunities as well.