The US Durable Goods Orders number will take focus during the session on Monday, and therefore we feel that most of the trading opportunities will be in the United States and of course, in the US dollar. That being said, we look at the charts from that perspective.

NASDAQ finds support yet again

The NASDAQ dropped initially during the session on Friday, but unlike some of its contemporaries, found enough support to keep the market fairly stable. With this, it looks like as long as we can stay above the 4600 level, the only thing you can do is buy calls in this marketplace.

USD/JPY continues to sit still, showing strength

The USD/JPY pair essentially went sideways again during the session on Friday, but ultimately the fact that we can sit just below the 124 level and failed to flinch suggests that there is without a doubt buying opportunities going forward. The market is most certainly in an uptrend, and we believe that the 125 level is going to be major resistance. However, it's only a matter of time before he break out. We look at pullbacks as call buying opportunities on bounces.

USD/CAD continues to grind much higher

The Canadian dollar continues to fall rather rapidly, mainly because of the lack of demand in the oil market. Now that we have cleared the 1.30 level, we feel that this is essentially a “buy-and-hold” type of market, as we are buyers of calls both short and long-term. With this, we believe that this pair continues to go so much higher going forward, and as a result we have absolutely no interest whatsoever in buying puts in this marketplace as it appears the next leg higher on the long-term charts just started.