Where Are Markets Headed Next?

Market Analysis

GBPUSD

GBP/USD Intraday: the bias remains bullish.

Pivot:1.3405

Our preference:

Long positions above 1.3405 with targets at 1.3470 & 1.3490 in extension.

Alternative scenario:

Below 1.3405 look for further downside with 1.3385 & 1.3365 as targets.

Comment:

The RSI is above its neutrality area at 50%.

USDJPY

USD/JPY Intraday: under pressure.

Pivot:150.90

Our preference:

Short positions below 150.90 with targets at 149.70 & 149.10 in extension.

Alternative scenario:

Above 150.90 look for further upside with 151.40 & 151.70 as targets.

Comment:

The RSI has broken down its 30 level.

EURUSD

EUR/USD Intraday: further advance.

Pivot:1.1660

Our preference:

Long positions above 1.1660 with targets at 1.1720 & 1.1740 in extension.

Alternative scenario:

Below 1.1660 look for further downside with 1.1640 & 1.1620 as targets.

Comment:

The RSI is bullish and calls for further upside.

Crude OIL WTI

Crude Oil (WTI)‎ (X5)‎ Intraday: under pressure.

Pivot:58.20

Our preference:

Short positions below 58.20 with targets at 57.00 & 56.55 in extension.

Alternative scenario:

Above 58.20 look for further upside with 58.65 & 59.05 as targets.

Comment:

The RSI has broken down its 30 level.

GOLD

Gold Intraday: towards 4410.00.

Pivot:4280.00

Our preference:

Long positions above 4280.00 with targets at 4410.00 & 4450.00 in extension.

Alternative scenario:

Below 4280.00 look for further downside with 4245.00 & 4205.00 as targets.

Comment:

The RSI shows upside momentum.

DOW JONES (CME)

Dow Jones (CME)‎ (Z5)‎ Intraday: under pressure.

Pivot:46350.00

Our preference:

Short positions below 46350.00 with targets at 45835.00 & 45660.00 in extension.

Alternative scenario:

Above 46350.00 look for further upside with 46470.00 & 46700.00 as targets.

Comment:

The RSI is below its neutrality area at 50%

NASDAQ 100 (CME)

Nasdaq 100 (CME)‎ (Z5)‎ Intraday: under pressure.

Pivot:24890.00

Our preference:

Short positions below 24890.00 with targets at 24540.00 & 24420.00 in extension.

Alternative scenario:

Above 24890.00 look for further upside with 24990.00 & 25110.00 as targets.

Comment:

The RSI is below its neutrality area at 50%

S&P 500 (CME)

S&P 500 (CME)‎ (Z5)‎ Intraday: the downside prevails.

Pivot:6705.00

Our preference:

Short positions below 6705.00 with targets at 6630.00 & 6590.00 in extension.

Alternative scenario:

Above 6705.00 look for further upside with 6722.00 & 6745.00 as targets.

Comment:

A break below 6630.00 would trigger a drop towards 6590.00.