Today's Trading Pulse: Key Market Drivers

Market Analysis

USDJPY

USD/JPY Intraday: further upside.

Pivot:

150.20

Our preference:

Long positions above 150.20 with targets at 151.30 & 151.70 in extension.

Alternative scenario:

Below 150.20 look for further downside with 149.90 & 149.55 as targets.

Comment:

The RSI is bullish and calls for further advance.

EURUSD

EUR/USD Intraday: the downside prevails.

Pivot:

1.1680

Our preference:

Short positions below 1.1680 with targets at 1.1640 & 1.1620 in extension.

Alternative scenario:

Above 1.1680 look for further upside with 1.1700 & 1.1725 as targets.

Comment:

The RSI is bearish and calls for further downside.

GBPUSD

GBP/USD Intraday: consolidation.

Pivot:

1.3450

Our preference:

Short positions below 1.3450 with targets at 1.3410 & 1.3390 in extension.

Alternative scenario:

Above 1.3450 look for further upside with 1.3470 & 1.3490 as targets.

Comment:

As long as 1.3450 is resistance, look for choppy price action with a bearish bias.

GOLD

Gold Intraday: under pressure.

Pivot:

4280.00

Our preference:

Short positions below 4280.00 with targets at 4180.00 & 4145.00 in extension.

Alternative scenario:

Above 4280.00 look for further upside with 4305.00 & 4350.00 as targets.

Comment:

The RSI is below its neutrality area at 50%

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (Z5)‎ Intraday: target 57.80.

Pivot:

56.60

Our preference:

Long positions above 56.60 with targets at 57.80 & 58.20 in extension.

Alternative scenario:

Below 56.60 look for further downside with 56.15 & 55.55 as targets.

Comment:

The RSI is mixed with a bullish bias.

NASDAQ 100

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

Pivot:

24680.00

Our preference:

Long positions above 24680.00 with targets at 25185.00 & 25390.00 in extension.

Alternative scenario:

Below 24680.00 look for further downside with 24410.00 & 24160.00 as targets.

Comment:

The next resistances are at 25185.00 and then at 25390.00.

S&P 500

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

Pivot:

6665.00

Our preference:

Long positions above 6665.00 with targets at 6745.00 & 6765.00 in extension.

Alternative scenario:

Below 6665.00 look for further downside with 6635.00 & 6570.00 as targets.

Comment:

The next resistances are at 6745.00 and then at 6765.00.

Dow Jones (CME)‎

Dow Jones (CME)‎ (Z5)‎ Intraday: intraday support around 46135.00.

Pivot:

46135.00

Our preference:

Long positions above 46135.00 with targets at 46700.00 & 46910.00 in extension.

Alternative scenario:

Below 46135.00 look for further downside with 45980.00 & 45605.00 as targets.

Comment:

The next resistances are at 46700.00 and then at 46910.00.