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The FTSE had a slightly negative session during the day on Tuesday, and it now appears that the market is ready to continue going a little bit lower. Once it does, we think it will try to find some type of support near the 6750 region, and as a result we are simply waiting to see whether or not we get some type of supportive candle at lower levels. At that point time we are willing to serve buying calls as we believe the longer-term uptrend is still very much in effect. 

Silver markets fell a bit during the session on Tuesday, but found a bit of support at the $16.50 level, exactly where the buyers needed to see it. Because of this, we believe that calls will be purchased, and that the market will head back towards the $17.50 level. Regardless, expect quite a bit of volatility in the meantime as this is a very volatile market overall. 

The EUR/USD pair continues to fall overall, and is now below the 1.08 handle yet again. Because of this, we think that the market is essentially “rolling over”, and heading towards the 1.05 handle. With that, the market should continue to find plenty of bearish pressure, and we are buyers of puts every time it rallies on the short-term chart. Ultimately, we believe that the US dollar still remains the strongest currency out there and therefore have no interest in going against the US dollar strength that we see across the board.