During the session on Monday, there’s always nothing as far as economic announcements are concerned to move the markets. Because of this, it is more or less going to be a technically driven day in our opinion, and it probably comes down to more or less what the Federal Reserve has done. Since they did not raise interest rates on Thursday, we believe that the U. S. dollar will soften a bit, but not as much as one would have anticipated.

1 – After all, you look at the EUR/USD pair you realize that the market tried to rally during the session on Friday but failed. It looks as if the 1.15 level now offers the “ceiling” in this particular pair. This pair is more or less going to be a good barometer on where the US dollar goes next.

2 – One thing that we do notice is that the precious metals market, gold specifically, seems to have quite a bit of a bid underneath it. With that, it’s very likely that gold will continue to find buyers every time it pulls back. Ultimately, we believe that gold is undervalued, and will eventually go higher but also recognize that there is a lot of volatility. Stick to short-term charts.

3 – Looking at this market, we believe that stock markets will eventually find a bit of a bid, but we are a bit cautious at the moment because the Federal Reserve did in fact suggests that perhaps the world’s economy isn’t as strong as once thought.