For the Monday session, there’s almost nothing out there to move the markets as far as headlines are concerned. In fact, the largest number is probably the Canadian Wholesale Sales number for November, which quite frankly isn’t exactly the largest of economic announcements. Because of this, we’re looking at the following three charts:

EUR/USD

The EUR/USD pair did almost nothing on Monday as we continue to bounce around just below the 1.07 level. It looks as if we are trying to build up enough pressure to break out, but it’s not until we get above the 1.0750 level that the call buyers should feel comfortable. Because of this, put buying still is going to be very possible, as the 1.07 level causes quite a bit of reactionary pressure.

USD/CAD

The US dollar rallied against the Canadian dollar on Friday, and with the Wholesale Sales numbers coming out of Ottawa today, we could get a little bit of a reaction. Ultimately, this is a market the looks as if it is ready to continue going higher, and if will start to sell off, that should only accelerate the moved to the upside.

DAX

It appears that call buyers continue to get involved on short-term charts, so it looks as if eventually the momentum will continue to the upside. Because of this, call buyers will be encouraged going forward, and should eventually win the day.