During the session on Tuesday, we get several announcements coming out of Germany, including employment figures and CPI. We also get ISM Manufacturing PMI numbers coming out the United States and several other mid-level announcements as well. Ultimately, this is a market that seems to be steady and looking for continuation.

Gold

Gold markets initially rallied on Monday, but it appears that there is more than enough put buying pressure above the $1160 level to send the market lower again. Ultimately, we are in a strong downtrend so it’s imperative that we follow the put buyers.

DAX

With the bank holiday on Monday, clearly we have the DAX CFD looking for direction. Ultimately, there is quite a bit of resistance just above, but if we can break above the €11,500 level, the market should continue to go much higher. Pullbacks will look for support in order to represent value to call buyers.

USD/JPY

The US dollar continued its rally against the Japanese in on Monday, as we see plenty of call buying on dips. It appears that this will be the continuation of the longer-term uptrend, and therefore every time the market falls, call buyers will probably look at it as a potential value play.