Important Economic Indicators to Monitor Today

Market Analysis

USDJPY

USD/JPY Intraday: bullish bias above 156.15.

Pivot:

156.15

Our preference:

Long positions above 156.15 with targets at 156.70 & 156.95 in extension.

Alternative scenario:

Below 156.15 look for further downside with 155.90 & 155.60 as targets.

Comment:

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

EURUSD

EUR/USD Intraday: further advance.

Pivot:

1.1565

Our preference:

Long positions above 1.1565 with targets at 1.1615 & 1.1635 in extension.

Alternative scenario:

Below 1.1565 look for further downside with 1.1545 & 1.1525 as targets.

Comment:

The RSI has just landed on its neutrality area at 50% and is turning up.

GBPUSD

GBP/USD Intraday: the upside prevails.

Pivot:

1.3180

Our preference:

Long positions above 1.3180 with targets at 1.3280 & 1.3315 in extension.

Alternative scenario:

Below 1.3180 look for further downside with 1.3150 & 1.3115 as targets.

Comment:

The RSI calls for a new upleg.

GOLD

Gold Intraday: the upside prevails.

Pivot:

4140

Our preference:

Long positions above 4140 with targets at 4180 & 4200 in extension.

Alternative scenario:

Below 4140 look for further downside with 4128 & 4109 as targets.

Comment:

The RSI calls for a bounce.

Crude Oil (WTI)

Crude Oil (WTI)‎ (F6)‎ Intraday: bullish bias above 58.00.

Pivot:

58.00

Our preference:

Long positions above 58.00 with targets at 59.05 & 59.50 in extension.

Alternative scenario:

Below 58.00 look for further downside with 57.65 & 57.10 as targets.

Comment:

The RSI advocates for further upside.

S&P 500 (CME)

S&P 500 (CME)‎ (Z5)‎ Intraday: the upside prevails.

Pivot:

6785

Our preference:

Long positions above 6785 with targets at 6890 & 6915 in extension.

Alternative scenario:

Below 6785 look for further downside with 6730 & 6700 as targets.

Comment:

Technically the RSI is above its neutrality area at 50.

Nasdaq 100 (CME)

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

Pivot:

25120

Our preference:

Long positions above 25120 with targets at 25500 & 25710 in extension.

Alternative scenario:

Below 25120 look for further downside with 24960 & 24750 as targets.

Comment:

The RSI calls for a bounce.

Dow Jones (CME)‎

Dow Jones (CME)‎ (Z5)‎ Intraday: bullish bias above 47180.

Pivot:

47180

Our preference:

Long positions above 47180 with targets at 47800 & 48180 in extension.

Alternative scenario:

Below 47180 look for further downside with 47000 & 46800 as targets.

Comment:

The RSI is above its neutrality area at 50%.