Major Currency Pairs: EUR/USD USD/JPY GBP/USD EUGERMANY30 US30

EUR/USD

Current level - 1.1441

Yesterday's break through 1.1380 initiated a rise to 1.1533 and current pullback should be considered corrective, preceding another leg upwards, to 1.1680. Initial support lies at 1.1400 and crucial on the downside is 1.1255.

Resistanceintraday intraweek1.15401.16801.16801.1845Supportintraday intraweek1.14001.10971.12551.0900

USD/JPY

Current level - 117.37

Still in the consolidation pattern above 116.78 low and a break through the latter will expose 115.85 low. Initial resistance is projected at 117.85.

Resistanceintraday intraweek 118.00120.80118.85121.90Supportintraday intraweek116.78115.50115.85113.20

GBP/USD

Current level - 1.5153

The outlook here is positive above 1.5100 support zone, for a break through 1.5220, en route to 1.5320 resistance area.

Resistanceintraday intraweek1.52201.55001.53201.5619Supportintraday intraweek1.51001.49501.49501.4820

EUGERMANY30

Current level - 10877

A minor reversal has been confirmed at 10986 and the intraday bias is negative, for a slide towards 10760, en route to 10550. Crucial on the upside is 10938.

Resistanceintraday intraweek 10938110001100012500Supportintraday intraweek1076010100105509600

US30

Current level - 17634

The overall outlook here is still bullish, for a rise towards 17865 high. Initial minor intraday support lies at 17560, followed by the key area at 17480.

Resistanceintraday intraweek17670179301786518100Supportintraday intraweek17480172701727017037

US ISM Non-Manufacturing PMI February 4, 2015

Looking at the Wednesday session, the US ISM Nonmanufacturing PMI numbers come out during the session, and as a result we could get a bit of volatility in the US stock markets during the session. Because of this, we are watching the S&P 500 as it has gone a little bit higher during the session on Tuesday, and looks as if it is ready to go to the 2060 level given enough momentum. Any pullback at this point time should be a call buying opportunity as we continue the larger consolidation area. We have no interest whatsoever in buying puts.

The EUR/USD pair has broken higher during the course of the day on Tuesday, but as you can see this market is most certainly in a massive downtrend so we are waiting to see some type of resistant candle in order to start buying puts again. With that being the case, we are not necessarily doing anything today, we are most certainly pain attention to the 1.15 level which of course is a large, round, psychologically significant number and should bring in the sellers again.

Gold markets tried to rally during the course of the session on Tuesday, but as you can see struggled a bit during the session on Tuesday above the $1280 level, and as a result it looks as if the market is going to roll over little bit, testing the $1260 level. That being the case, the market below should bring in buyers so if we can find some type of supportive candle, we would be buyers of calls. We believe that there are plenty of opportunities to serve buying calls below, so we will simply look for a hammer or some other impulsive positive candle in order to start buying calls.