There are a lot of things going on during the session on Friday, including the Canadian Core CPI numbers, the UK Retail Sales numbers, and the inauguration of Pres. Donald J Trump. With this in mind, we are paying attention to several markets, with a particular focus on these three:

EUR/USD

It looks as if the put buyers are starting to get aggressive in the EUR/USD pair, and with this being said the put buyers should get more aggressive below the 1.06 level and try to get to the 1.05 level. Call buying is all but difficult and impossible to do as the 1.07 level has been so resistive.

Gold

Gold is trying to show signs of support at the $1200 level, but if we can break down below the bottom of the range for the session on Thursday, the market should continue to go lower as put buyers will get aggressive. Currently though, looks as if consolidation may be the way of the market, as the 1220 level above has been so resistive.

DAX

The German index continues to grind sideways overall, but the one thing that has been consistent is that every time the market pulls back, call buyers pick it back up. Because of this, pullbacks should continue to be thought of as value that call buyers will take advantage of.