Your Daily Edge: Forex Analysis

Market Analysis

USDJPY

USD/JPY Intraday: the bias remains bullish.

Pivot:

151.95

Our preference:

Long positions above 151.95 with targets at 152.50 & 152.80 in extension.

Alternative scenario:

Below 151.95 look for further downside with 151.70 & 151.40 as targets.

Comment:

The RSI advocates for further upside.

EURUSD

EUR/USD Intraday: the downside prevails.

Pivot:

1.1600

Our preference:

Short positions below 1.1600 with targets at 1.1540 & 1.1520 in extension.

Alternative scenario:

Above 1.1600 look for further upside with 1.1630 & 1.1650 as targets.

Comment:

The RSI is bearish and calls for further downside.

GBPUSD

GBP/USD Intraday: consolidation.

Pivot:

1.3365

Our preference:

Short positions below 1.3365 with targets at 1.3310 & 1.3280 in extension.

Alternative scenario:

Above 1.3365 look for further upside with 1.3390 & 1.3420 as targets.

Comment:

As long as 1.3365 is resistance, look for choppy price action with a bearish bias.

CRUDE OIL

Crude Oil (WTI)‎ (X5)‎ Intraday: the bias remains bullish.

Pivot:

59.20

Our preference:

Long positions above 59.20 with targets at 60.15 & 60.50 in extension.

Alternative scenario:

Below 59.20 look for further downside with 58.85 & 58.20 as targets.

Comment:

The RSI lacks downward momentum.

GOLD

Gold Intraday: intraday support around 4083.00.

Pivot:

4083.00

Our preference:

Long positions above 4083.00 with targets at 4128.00 & 4170.00 in extension.

Alternative scenario:

Below 4083.00 look for further downside with 4057.00 & 4024.00 as targets.

Comment:

The next resistances are at 4128.00 and then at 4170.00.

DOW JONES

Dow Jones (CME)‎ (Z5)‎ Intraday: intraday support around 46030.00.

Pivot:

46030.00

Our preference:

Long positions above 46030.00 with targets at 46530.00 & 46760.00 in extension.

Alternative scenario:

Below 46030.00 look for further downside with 45835.00 & 45450.00 as targets.

Comment:

The next resistances are at 46530.00 and then at 46760.00.

NASDAQ 100

Nasdaq 100 (CME)‎ (Z5)‎ Intraday: intraday support around 24730.00.

Pivot:

24730.00

Our preference:

Long positions above 24730.00 with targets at 25170.00 & 25390.00 in extension.

Alternative scenario:

Below 24730.00 look for further downside with 24540.00 & 24150.00 as targets.

Comment:

The next resistances are at 25170.00 and then at 25390.00.

S&P 500

S&P 500 (CME)‎ (Z5)‎ Intraday: intraday support around 6665.00.

Pivot:

6665.00

Our preference:

Long positions above 6665.00 with targets at 6762.00 & 6812.00 in extension.

Alternative scenario:

Below 6665.00 look for further downside with 6632.00 & 6605.00 as targets.

Comment:

The next resistances are at 6762.00 and then at 6812.00.