Economy in Motion: Trends & Turning Points

Market Analysis

GBPUSD

GBP/USD Intraday: the downside prevails.

Pivot:

1.3345

Our preference:

Short positions below 1.3345 with targets at 1.3270 & 1.3240 in extension.

Alternative scenario:

Above 1.3345 look for further upside with 1.3385 & 1.3420 as targets.

Comment:

The RSI is bearish and calls for further decline.

USDPY

USD/JPY Intraday: the bias remains bullish.

Pivot:

152.55

Our preference:

Long positions above 152.55 with targets at 153.50 & 153.85 in extension.

Alternative scenario:

Below 152.55 look for further downside with 152.20 & 151.90 as targets.

Comment:

Technically the RSI is above its neutrality area at 50.

EURUSD

EUR/USD Intraday: under pressure.

Pivot:

1.1600

Our preference:

Short positions below 1.1600 with targets at 1.1540 & 1.1510 in extension.

Alternative scenario:

Above 1.1600 look for further upside with 1.1625 & 1.1645 as targets.

Comment:

The RSI calls for a new downleg.

CRUDE OIL

Crude Oil (WTI)‎ (X5)‎ Intraday: the downside prevails.

Pivot:

61.85

Our preference:

Short positions below 61.85 with targets at 61.20 & 60.70 in extension.

Alternative scenario:

Above 61.85 look for further upside with 62.10 & 62.45 as targets.

Comment:

The RSI is below its neutrality area at 50%

GOLD

Gold Intraday: under pressure.

Pivot:

4000.00

Our preference:

Short positions below 4000.00 with targets at 3943.00 & 3924.00 in extension.

Alternative scenario:

Above 4000.00 look for further upside with 4025.00 & 4058.00 as targets.

Comment:

The RSI is below its neutrality area at 50%

DOW JONES

Dow Jones (CME)‎ (Z5)‎ Intraday: key resistance at 46750.00.

Pivot:

46750.00

Our preference:

Short positions below 46750.00 with targets at 46480.00 & 46350.00 in extension.

Alternative scenario:

Above 46750.00 look for further upside with 46810.00 & 46910.00 as targets.

Comment:

The upward potential is likely to be limited by the resistance at 46750.00.

NASDAQ

Nasdaq 100 (CME)‎ (Z5)‎ Intraday: further advance.

Pivot:

25175.00

Our preference:

Long positions above 25175.00 with targets at 25390.00 & 25430.00 in extension.

Alternative scenario:

Below 25175.00 look for further downside with 25100.00 & 25000.00 as targets.

Comment:

The next resistances are at 25390.00 and then at 25430.00.

S&P 500

S&P 500 (CME)‎ (Z5)‎ Intraday: key resistance at 6792.00.

Pivot:

6792.00

Our preference:

Short positions below 6792.00 with targets at 6760.00 & 6747.00 in extension.

Alternative scenario:

Above 6792.00 look for further upside with 6812.00 & 6831.00 as targets.

Comment:

The upward potential is likely to be limited by the resistance at 6792.00.