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Market Analysis

GBPUSD

GBP/USD Intraday: bullish bias above 1.3195.

Pivot:

1.3195

Our preference:

Long positions above 1.3195 with targets at 1.3265 & 1.3285 in extension.

Alternative scenario:

Below 1.3195 look for further downside with 1.3175 & 1.3150 as targets.

Comment:

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

USDJPY

USD/JPY Intraday: the downside prevails.

Pivot:

156.45

Our preference:

Short positions below 156.45 with targets at 155.70 & 155.45 in extension.

Alternative scenario:

Above 156.45 look for further upside with 156.70 & 157.00 as targets.

Comment:

The RSI advocates for further downside.

EURUSD

EUR/USD Intraday: the bias remains bullish.

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 1.1550 & 1.1535 as targets.

Comment:

Technically the RSI is above its neutrality area at 50.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (F6)‎ Intraday: turning up.

Pivot:

58.70

Our preference:

Long positions above 58.70 with targets at 60.10 & 60.50 in extension.

Alternative scenario:

Below 58.70 look for further downside with 58.25 & 57.65 as targets.

Comment:

The RSI advocates for further upside.

GOLD

Gold Intraday: intraday support around 4190.

Pivot:

4190

Our preference:

Long positions above 4190 with targets at 4245 & 4265 in extension.

Alternative scenario:

Below 4190 look for further downside with 4172 & 4160 as targets.

Comment:

The RSI is bullish and calls for further advance.

NASDAQ 100 (CME)

Nasdaq 100 (CME)‎ (Z5)‎ Intraday: expect 25760.

Pivot:

25360

Our preference:

Long positions above 25360 with targets at 25640 & 25760 in extension.

Alternative scenario:

Below 25360 look for further downside with 25290 & 25225 as targets.

Comment:

The RSI shows upside momentum.

S&P 500 (CME)

S&P 500 (CME)‎ (Z5)‎ Intraday: further advance.

Pivot:

6825

Our preference:

Long positions above 6825 with targets at 6890 & 6915 in extension.

Alternative scenario:

Below 6825 look for further downside with 6790 & 6760 as targets.

Comment:

The RSI shows upside momentum.

DOW JONES (CME)

Dow Jones (CME)‎ (Z5)‎ Intraday: expect 48100.

Pivot:

47450

Our preference:

Long positions above 47450 with targets at 47850 & 48100 in extension.

Alternative scenario:

Below 47450 look for further downside with 47180 & 46900 as targets.

Comment:

The RSI is bullish and calls for further upside.