Forex Daily Briefing: Trends, News & Technicals

Market Analysis

EURUSD

EUR/USD Intraday: bullish bias above 1.1590.

Pivot:1.1590

Our preference:

Long positions above 1.1590 with targets at 1.1625 & 1.1640 in extension.

Alternative scenario:

Below 1.1590 look for further downside with 1.1575 & 1.1560 as targets.

Comment:

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

USDJPY

USD/JPY Intraday: the upside prevails.

Pivot:151.55

Our preference:

Long positions above 151.55 with targets at 152.15 & 152.40 in extension.

Alternative scenario:

Below 151.55 look for further downside with 151.30 & 151.05 as targets.

Comment:

The RSI calls for a bounce.

GBPUSD

GBP/USD Intraday: the bias remains bullish.

Pivot:1.3325

Our preference:

Long positions above 1.3325 with targets at 1.3375 & 1.3395 in extension.

Alternative scenario:

Below 1.3325 look for further downside with 1.3305 & 1.3285 as targets.

Comment:

The RSI is above its neutrality area at 50%.

GOLD

Gold Intraday: range.

Pivot:4160.00

Our preference:

Short positions below 4160.00 with targets at 4010.00 & 3945.00 in extension.

Alternative scenario:

Above 4160.00 look for further upside with 4215.00 & 4265.00 as targets.

Comment:

The RSI has just struck against its neutrality area at 50% and is reversing down.

CRUDE OIL

Crude Oil (WTI)‎ (Z5)‎ Intraday: the upside prevails.

Pivot:58.90

Our preference:

Long positions above 58.90 with targets at 60.40 & 61.15 in extension.

Alternative scenario:

Below 58.90 look for further downside with 58.25 & 57.60 as targets.

Comment:

The RSI shows upside momentum.

DOW JONES

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

Pivot:46960.00

Our preference:

Short positions below 46960.00 with targets at 46570.00 & 46410.00 in extension.

Alternative scenario:

Above 46960.00 look for further upside with 47090.00 & 47190.00 as targets.

Comment:

The RSI has broken down its 30 level.

S&P 500

S&P 500 (CME)‎ (Z5)‎ Intraday: bullish bias above 6700.00.

Pivot:6700.00

Our preference:

Long positions above 6700.00 with targets at 6760.00 & 6790.00 in extension.

Alternative scenario:

Below 6700.00 look for further downside with 6670.00 & 6640.00 as targets.

Comment:

The next resistances are at 6760.00 and then at 6790.00.

NASDAQ 100

Nasdaq 100 (CME)‎ (Z5)‎ Intraday: the bias remains bullish.

Pivot:24855.00

Our preference:

Long positions above 24855.00 with targets at 25210.00 & 25365.00 in extension.

Alternative scenario:

Below 24855.00 look for further downside with 24720.00 & 24640.00 as targets.

Comment:

The RSI is below its neutrality area at 50% but reversing up.