April 10th Daily Trading Opportunities

Monday should be a relatively quiet session as we typically get a bit of a lull in headline numbers after the Nonfarm Payroll numbers. Because of this, we believe that the markets will be relatively stable.

Gold

Gold markets rallied after the attack on Syrian airfields and the less than stellar jobs number. It looks as if the gold markets will continue to attract call buyers on short-term pullbacks, as we have now made a fresh, new high.

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USD/CAD

The USD/CAD pair fell during the day as the job numbers in America missed, but quite frankly there is quite a bit of support underneath, especially near the 1.33 handle. Because of this, call buyers will be looking for supportive looking candles in order to get involved in the market yet again.

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WTI Crude Oil

The WTI Crude Oil market initially shot much higher after the news of the attack in Syria, but as you can see pulled backwards to form a shooting star which is a very negative sign. Alternately, it looks as if a break below the $51.50 level could attract put buying.

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