During the session on Tuesday, we get GDP numbers coming out of the European Union, German Factory Orders, PMI numbers coming out of Canada, and several other mid-level announcements. Because of this, we could see a bit of volatility.

DAX

The German index fell a bit during the day on Monday, but continues to find support below. Because of this, looks as if the call buyers are very interested in the 20-day exponential moving average just below, pictured in rent. “Buying on the dips” continues to be the mantra of call buyers.

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Gold

Gold markets continue to see support below at the $1220 level, so it’s very likely that call buyers will be interested in going long. If we can break above the top of the range for the day on both Monday and Friday, it’s likely that the call buyers will jump in with a bit of gusto.

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USD/CHF

The US dollar has been grinding higher against the Swiss franc over the last several weeks, and it appears that we are going to continue to see much of the same. With the 20-day exponential moving average crossing over the 50-day exponential moving average to the upside, it suggests that the momentum is starting to turn towards the upside longer-term yet again. Call buyers should be encouraged.

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