Daily Trading Opportunities - Wednesday, June 21

With a relatively light economic calendar, it’s likely that the day will be more technical than anything else. The one loan exception will be the crude oil inventories announcement, which of course will have a massive effect on the underlying economic market.

USD/CAD

The US dollar rallied against the Canadian dollar during Tuesday’s trading, but we are still within a consolidated area. To break above the 1.33 level could attract call buying though, as it would show a shift in momentum.

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USD/CHF

The US dollar initially fell against the Swiss franc during the Tuesday session, but it appears that there is still a significant amount of bullish pressure underneath. To break above the 0.98 level should send the call buyers into the marketplace as it would show a complete change in momentum.

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DAX

The German index pulled back just a bit during the day on Tuesday, but remains well supported underneath. Look for buying opportunities taken advantage of by the call buyers as the uptrend continues.

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Disclosure: None.

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