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Market Analysis

GBPUSD

GBP/USD Intraday: the downside prevails.

Pivot:1.3295

Our preference:

Short positions below 1.3295 with targets at 1.3245 & 1.3220 in extension.

Alternative scenario:

Above 1.3295 look for further upside with 1.3320 & 1.3340 as targets.

Comment:

As long as the resistance at 1.3295 is not surpassed, the risk of the break below 1.3245 remains high.

USDJPY

USD/JPY Intraday: rebound in sight.

Pivot:151.75

Our preference:

Long positions above 151.75 with targets at 152.40 & 152.65 in extension.

Alternative scenario:

Below 151.75 look for further downside with 151.50 & 151.30 as targets.

Comment:

The RSI advocates for further upside.

EURUSD

EUR/USD Intraday: consolidation.

Pivot:1.1670

Our preference:

Short positions below 1.1670 with targets at 1.1640 & 1.1625 in extension.

Alternative scenario:

Above 1.1670 look for further upside with 1.1685 & 1.1700 as targets.

Comment:

As long as 1.1670 is resistance, look for choppy price action with a bearish bias.

CRUDE OIL

Crude Oil (WTI)‎ (Z5)‎ Intraday: target 59.40.

Pivot:60.80

Our preference:

Short positions below 60.80 with targets at 59.40 & 58.70 in extension.

Alternative scenario:

Above 60.80 look for further upside with 61.40 & 62.10 as targets.

Comment:

The RSI is mixed to bearish.

GOLD

Gold Intraday: watch 3895.00.

Pivot:3973.00

Our preference:

Short positions below 3973.00 with targets at 3895.00 & 3847.00 in extension.

Alternative scenario:

Above 3973.00 look for further upside with 4014.00 & 4045.00 as targets.

Comment:

As long as the resistance at 3973.00 is not surpassed, the risk of the break below 3895.00 remains high.

DOW JONES (CME)

Dow Jones (CME)‎ (Z5)‎ Intraday: bullish bias above 47760.00.

Pivot:47760.00

Our preference:

Long positions above 47760.00 with targets at 48170.00 & 48300.00 in extension.

Alternative scenario:

Below 47760.00 look for further downside with 47580.00 & 47480.00 as targets.

Comment:

The RSI is mixed and calls for caution.

NASDAQ 100 (CME)

Nasdaq 100 (CME)‎ (Z5)‎ Intraday: towards 26330.00.

Pivot:26090.00

Our preference:

Long positions above 26090.00 with targets at 26250.00 & 26330.00 in extension.

Alternative scenario:

Below 26090.00 look for further downside with 26015.00 & 25940.00 as targets.

Comment:

Technically the RSI is above its neutrality area at 50.

S&P 500 (CME)

S&P 500 (CME)‎ (Z5)‎ Intraday: aim @ 6963.00.

Pivot:6902.00

Our preference:

Long positions above 6902.00 with targets at 6950.00 & 6963.00 in extension.

Alternative scenario:

Below 6902.00 look for further downside with 6888.00 & 6868.00 as targets.

Comment:

The RSI is around its neutrality area at 50%