Market Decoded: Real-Time Economic Overview

Market Analysis

EURUSD

EUR/USD Intraday: the bias remains bullish.

Pivot:1.1530

Our preference:

Long positions above 1.1530 with targets at 1.1585 & 1.1605 in extension.

Alternative scenario:

Below 1.1530 look for further downside with 1.1510 & 1.1490 as targets.

Comment:

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

USDJPY

USD/JPY Intraday: bounce.

Pivot:153.10

Our preference:

Long positions above 153.10 with targets at 154.00 & 154.35 in extension.

Alternative scenario:

Below 153.10 look for further downside with 152.80 & 152.50 as targets.

Comment:

The RSI is bullish and calls for further upside.

GBPUSD

GBP/USD Intraday: the bias remains bullish.

Pivot:1.3110

Our preference:

Long positions above 1.3110 with targets at 1.3180 & 1.3200 in extension.

Alternative scenario:

Below 1.3110 look for further downside with 1.3090 & 1.3070 as targets.

Comment:

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

GOLD

Gold Intraday: intraday support around 3985.00.

Pivot:3985.00

Our preference:

Long positions above 3985.00 with targets at 4020.00 & 4028.00 in extension.

Alternative scenario:

Below 3985.00 look for further downside with 3964.00 & 3948.00 as targets.

Comment:

The RSI is around its neutrality area at 50%

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (Z5)‎ Intraday: aim @ 59.30.

Pivot:60.15

Our preference:

Short positions below 60.15 with targets at 59.30 & 58.80 in extension.

Alternative scenario:

Above 60.15 look for further upside with 60.45 & 60.70 as targets.

Comment:

As long as 60.15 is resistance, look for choppy price action with a bearish bias.

S&P 500 (CME)

S&P 500 (CME)‎ (Z5)‎ Intraday: look for 6856.

Pivot:6720

Our preference:

Long positions above 6720 with targets at 6826 & 6856 in extension.

Alternative scenario:

Below 6720 look for further downside with 6657 & 6600 as targets.

Comment:

The RSI shows upside momentum.

NASDAQ 100 (CME)

Nasdaq 100 (CME)‎ (Z5)‎ Intraday: rebound expected.

Pivot:25000

Our preference:

Long positions above 25000 with targets at 25540 & 25870 in extension.

Alternative scenario:

Below 25000 look for further downside with 24710 & 24540 as targets.

Comment:

The RSI advocates for further advance.

DOW JONES (CME)

Dow Jones (CME)‎ (Z5)‎ Intraday: continuation of the rebound.

Pivot:46900

Our preference:

Long positions above 46900 with targets at 47500 & 47660 in extension.

Alternative scenario:

Below 46900 look for further downside with 46600 & 46420 as targets.

Comment:

The immediate trend remains up and the momentum is strong.