USDJPY
As a result of recent dynamic declines USDJPY has reached important support. Bearing in mind that this level has been unbeaten since mid-November last year, also this time we would expect a demand response in its neighborhood. So in the short term, you should consider CALL option on this instrument.
Silver & Gold
Looking at SILVER and GOLD prices, we notice that in both cases price have beaten the local resistance today. If in the near future there would be a re-test of these levels and there would be demand reactions in their area, we could expect continuation of growth. It is therefore worthwhile to keep eye on both instruments, and if they reject these supports, consider CALL option on these instruments.
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AUDNZD
Today, pair once again reached level 1,1133, the upper limit of consolidation, where supply reaction reappeared again. Permanent rejection of this level could open the way to declines. In short term, it is therefore worth considering PUT option on this instrument.
EURGBP
As a result of last week’s decline, the market reached level 0.9120, where today a demand response occurred. A permanent rejection of this support could open the way for further gains.
Looking at H4 chart, we note that potential gains could continue at least level 0.9233. It seems therefore that in short term as well as in a slightly longer time horizon it is worth considering CALL option in this case.
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