With almost nothing moving the economic markets via announcements during the session today, we will look at the technical analysis of the following 3 markets for trading opportunities.

The EUR/USD pair fell during the session on Tuesday, breaking well below the vital 1.10 level, and now looking very soft all of a sudden. We are put buyers as long as we remain below the 1.10 level, recognizing that we could go as low as 1.06 over the course of the next several sessions. If we bounce back above the 1.10 level, at that point time we would have to start buying calls.

The S&P 500 fell initially during the session on Tuesday, but remains above the 2100 level that we feel is going to be supportive. On top of that, we feel that the 2080 level is also supportive, so somewhere in that general vicinity we are looking for a bit of a bounce. Once we get it, we are call buyers.

The DAX also fell during the session on Tuesday as Germany sold off. This market looks as if it’s ready to continue the consolidation though, we think there is plenty of support somewhere near the €11,300 level. With this, we simply wait to see some type of support below in order to start buying calls. We will look to short-term charts but recognize that the longer-term trend is still very much to the upside. On the other hand, if we broke down below the €11,200 level, we would be buyers of puts.