Yesterday was a very busy trading day with markets testing their lows early before heading upwards. The German IFO improved in February along with good Jobless numbers from the US which raised market sentiment – The Euro was the main beneficiary. Today is a quiet news day and this weekend we have the G20 Finance Ministers’ Meeting in Mexico.
S&P 500
The S&P rebounded nicely off our 1350 level and is now testing 1370. I am flat here and waiting to put on a small short around 1370/1375 looking for a test of 1360, with a closing stop over 1375. If the market breaks below 1350, I also plan to go short as this will be a short term sell signal.
EUR
The EUR broke 1.33 and never looked back as we are now testing 1.34. I am flat here and I want to reset shorts at 1.3450/1.3480.
USD/JPY
The USD/JPY just missed our buy level and I dont want to chase the market, so I am leaving the buy point at the same level as yesterday.
GOLD
Having bought Gold at the 1770 level I am planning to go flat as the market is looking tired here at 1780/1785.
Crude Oil
I want to sell near 109 as we are up 10 per cent in the last week and a I am looking for a test of 107
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