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Market Analysis

USDJPY

USD/JPY Intraday: watch 155.75.

Pivot:156.55

Our preference:

Short positions below 156.55 with targets at 155.75 & 155.50 in extension.

Alternative scenario:

Above 156.55 look for further upside with 156.85 & 157.15 as targets.

Comment:

A break below 155.75 would trigger a drop towards 155.50.

EURUSD

EUR/USD Intraday: the upside prevails.

Pivot:1.1540

Our preference:

Long positions above 1.1540 with targets at 1.1590 & 1.1605 in extension.

Alternative scenario:

Below 1.1540 look for further downside with 1.1525 & 1.1510 as targets.

Comment:

The break above 1.1540 is a positive signal that has opened a path to 1.1590.

GBPUSD

GBP/USD Intraday: bullish bias above 1.3130.

Pivot:1.3130

Our preference:

Long positions above 1.3130 with targets at 1.3215 & 1.3240 in extension.

Alternative scenario:

Below 1.3130 look for further downside with 1.3105 & 1.3075 as targets.

Comment:

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

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (F6)‎ Intraday: choppy.

Pivot:58.30

Our preference:

Short positions below 58.30 with targets at 57.50 & 57.10 in extension.

Alternative scenario:

Above 58.30 look for further upside with 58.65 & 59.05 as targets.

Comment:

As long as 58.30 is resistance, look for choppy price action with a bearish bias.

GOLD

Gold Intraday: intraday support around 4109.

Pivot:4109

Our preference:

Long positions above 4109 with targets at 4159 & 4185 in extension.

Alternative scenario:

Below 4109 look for further downside with 4083 & 4064 as targets.

Comment:

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

DOW JONES (CME)

Dow Jones (CME)‎ (Z5)‎ Intraday: the upside prevails.

Pivot:46910

Our preference:

Long positions above 46910 with targets at 47400 & 47640 in extension.

Alternative scenario:

Below 46910 look for further downside with 46650 & 46400 as targets.

Comment:

The RSI shows upside momentum.

S&P 500 (CME)

S&P 500 (CME)‎ (Z5)‎ Intraday: bullish bias above 6730.

Pivot:6730

Our preference:

Long positions above 6730 with targets at 6830 & 6857 in extension.

Alternative scenario:

Below 6730 look for further downside with 6675 & 6630 as targets.

Comment:

The next resistances are at 6830 and then at 6857.

NASDAQ 100 (CME)

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

Pivot:24750

Our preference:

Long positions above 24750 with targets at 25350 & 25500 in extension.

Alternative scenario:

Below 24750 look for further downside with 24600 & 24370 as targets.

Comment:

The RSI is bullish and calls for further upside.