Chinese CPI and PPI

During the session on Tuesday, we have Chinese CPI and PPI numbers coming out. While this won't move a specific market, it could very well define whether or not we have any interest in taking risk as a market. This quite often will have an effect on commodities, as well as stock markets and currencies.

EUR/GBP to go higher?

The EUR/GBP pair initially fell during the course of the session on Monday, but found enough support near the 0.7175 level to bounce and form a hammer. If we can break above the top of the range for the day on Monday, the market should then reach towards the 0.7250 level, allowing short-term call buying opportunities.

Gold pulls back

The gold markets fell during the session on Monday, and we believe that with poor Chinese numbers, we could get a little bit more downward pressure. A break down below the bottom of the range for the day on Monday should send the market reaching back towards the $1050 level. Any rally at this point in time will struggle to get above the $1100 level.

WTI Crude Oil making lows again

Oil markets absolutely fell apart during the course of the day on Monday, testing the $30 level. Cause of this, it looks like we could continue to go lower and if we find yourselves going below the $30 handle, we think that put buying is the way to go. Rallies at this point in time should offer put buying opportunities as well, as the $40 level above should be resistive.