What Traders Need to Know Today

Market Analysis

GBPUSD

GBP/USD Intraday: under pressure.

Pivot:1.3250

Our preference:

Short positions below 1.3250 with targets at 1.3175 & 1.3150 in extension.

Alternative scenario:

Above 1.3250 look for further upside with 1.3275 & 1.3295 as targets.

Comment:

The RSI is bearish and calls for further decline.

USDJPY

USD/JPY Intraday: continuation of the rebound.

Pivot:155.10

Our preference:

Long positions above 155.10 with targets at 155.70 & 155.95 in extension.

Alternative scenario:

Below 155.10 look for further downside with 154.90 & 154.65 as targets.

Comment:

The RSI is bullish and calls for further advance.

EURUSD

EUR/USD Intraday: the downside prevails.

Pivot:1.1635

Our preference:

Short positions below 1.1635 with targets at 1.1590 & 1.1575 in extension.

Alternative scenario:

Above 1.1635 look for further upside with 1.1650 & 1.1665 as targets.

Comment:

The RSI calls for a new downleg.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (F6)‎ Intraday: expect 60.10.

Pivot:59.10

Our preference:

Long positions above 59.10 with targets at 59.85 & 60.10 in extension.

Alternative scenario:

Below 59.10 look for further downside with 58.70 & 58.25 as targets.

Comment:

The RSI advocates for further advance.

GOLD

Gold Intraday: intraday support around 4215.

Pivot:4215

Our preference:

Long positions above 4215 with targets at 4251 & 4265 in extension.

Alternative scenario:

Below 4215 look for further downside with 4204 & 4190 as targets.

Comment:

The RSI is mixed.

DOW JONES (CME)

Dow Jones (CME)‎ (Z5)‎ Intraday: under pressure.

Pivot:47600

Our preference:

Short positions below 47600 with targets at 47180 & 47050 in extension.

Alternative scenario:

Above 47600 look for further upside with 47790 & 47920 as targets.

Comment:

The RSI is bearish and calls for further decline.

NASDAQ 100 (CME)

Nasdaq 100 (CME)‎ (Z5)‎ Intraday: consolidation in place.

Pivot:25500

Our preference:

Short positions below 25500 with targets at 25330 & 25200 in extension.

Alternative scenario:

Above 25500 look for further upside with 25640 & 25760 as targets.

Comment:

As long as 25500 is resistance, likely decline to 25330.

S&P 500 (CME)

S&P 500 (CME)‎ (Z5)‎ Intraday: 6804 expected.

Pivot:6845

Our preference:

Short positions below 6845 with targets at 6804 & 6790 in extension.

Alternative scenario:

Above 6845 look for further upside with 6864 & 6890 as targets.

Comment:

The RSI is below its neutrality area at 50%