During the day on Monday, we get CPI numbers coming out of the European Union, but that’s about it. With this in mind, we look at the following trades.

USD/CAD

The USD/CAD pair bounced slightly during the course of the session on Friday, as the 1.35 level offered enough support to turn things back around slightly. This bounce is probably going to be short-term at best, but in the end it’s likely that we could see quite a bit of volatility. With this, we are call buyers on a break above the top of the range but are not willing to hang onto that trade into we break well above the 1.38 handle.

FTSE rallies

The FTSE rallied during the course of the session on Friday, testing the 6100 level. If we can break above there, we feel that this market will break out and continue to go much higher. At that point we would be call buyers but we recognize there is a lot of noise above. We don’t have any interest in buying puts at this point in time.

Gold falls

Gold markets fell again during the day but it appears that we are trying to form some type of triangle at this point. This should show a significant amount of consolidation which normally means continuation. With that, we are buyers of calls on short-term supportive candles as gold should rally again and again.