Daily Market Watch

Market Analysis

USDJPY

USD/JPY Intraday: bullish bias above 150.40.

Pivot:150.40

Our preference:

Long positions above 150.40 with targets at 151.00 & 151.20 in extension.

Alternative scenario:

Below 150.40 look for further downside with 150.15 & 149.90 as targets.

Comment:

The RSI calls for a bounce.

EURUSD

EUR/USD Intraday: under pressure.

Pivot:1.1665

Our preference:

Short positions below 1.1665 with targets at 1.1625 & 1.1610 in extension.

Alternative scenario:

Above 1.1665 look for further upside with 1.1680 & 1.1695 as targets.

Comment:

The RSI is bearish and calls for further downside.

GBPUSD

GBP/USD Intraday: towards 1.3360.

Pivot:1.3430

Our preference:

Short positions below 1.3430 with targets at 1.3385 & 1.3360 in extension.

Alternative scenario:

Above 1.3430 look for further upside with 1.3450 & 1.3470 as targets.

Comment:

The RSI calls for a new downleg.

GOLD

Gold Intraday: target 4400.00.

Pivot:4325.00

Our preference:

Long positions above 4325.00 with targets at 4400.00 & 4430.00 in extension.

Alternative scenario:

Below 4325.00 look for further downside with 4293.00 & 4265.00 as targets.

Comment:

The RSI is mixed with a bullish bias.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (Z5)‎ Intraday: aim @ 57.80.

Pivot:56.50

Our preference:

Long positions above 56.50 with targets at 57.40 & 57.80 in extension.

Alternative scenario:

Below 56.50 look for further downside with 56.15 & 55.55 as targets.

Comment:

The RSI is bullish and calls for further upside.

NASDAQ 100

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

Pivot:25170.00

Our preference:

Long positions above 25170.00 with targets at 25440.00 & 25510.00 in extension.

Alternative scenario:

Below 25170.00 look for further downside with 25040.00 & 24960.00 as targets.

Comment:

The RSI advocates for further advance.

S&P 500

S&P 500 (CME)‎ (Z5)‎ Intraday: further advance.

Pivot:6745.00

Our preference:

Long positions above 6745.00 with targets at 6800.00 & 6817.00 in extension.

Alternative scenario:

Below 6745.00 look for further downside with 6711.00 & 6665.00 as targets.

Comment:

The RSI is bullish and calls for further advance.

DOW JONES (CME)

Dow Jones (CME)‎ (Z5)‎ Intraday: further upside.

Pivot:46710.00

Our preference:

Long positions above 46710.00 with targets at 47060.00 & 47160.00 in extension.

Alternative scenario:

Below 46710.00 look for further downside with 46560.00 & 46400.00 as targets.

Comment:

The RSI shows upside momentum.