Handful of the economic announcements today

During the session on Thursday, there are quite a few economic announcements they can move the markets. Without a doubt, the interest-rate decision coming out of the Bank of England will be a major market moving event, as the FTSE and the British pound should get moving rather quickly. We also have the Crude Oil Inventories number out of America which can move the oil markets, and then of course the Unemployment Claims number out of the US as well, and as a result we are set to see a fairly volatile day.

S&P 500 tries to rally

The S&P 500 trying to rally during the course of the session on Wednesday, but pulled back it just below the 2000 handle. Because of this, we feel that this pullback should be an opportunity to start buying calls at lower levels. With this, the market looks as if it’s ready to continue going higher, so pullbacks are value as far as we can see. A break above the 2000 level is also a call buying opportunity as well.

EUR/USD looking for support

The EUR/USD pair is looking for support currently, and we believe it will find what it’s looking for near the 1.11 handle. With this, a market looks as if a supportive candle could be a call buying opportunity. With that being the case, the market should then bounce back towards the 1.12 level, and then perhaps the 1.13 level after that. With this, we are bullish, but at this point in time we feel that this market offers potential trades.

USD/CAD continues to bounce around previous consolidation

The USD/CAD pair continues to find support just below, and as a result we are looking for supportive candles in order to start buying calls again. We believe that this market should continue to go much higher, and it’s only a matter of time before we break back to the 1.33 handle. We believe that the 1.30 level below is the “floor” in this market.