Originally posted by Richard Cox. Click here for the full weekly trading briefing
1. Assuming the next loan tranche is given to Greece without a hitch, the DAX
will likely see a pop into the upper 7300s before stalling. I will be looking for hourly PUTS if prices can rally into 7390
. I would avoid longer term positions here, given the positive momentum that was seen in stocks last week. Longer term target is a break back below 7000.
2. Upward momentum in the AUD/USD could send prices into the upper 1.04s but if we see 1.0480 trade
, I will be looking to enter into weekly PUTS
in anticipation of weakness in the higher yielding currencies. Downside target is 1.0340, medium term.