Daily Market Watch

MARKET ANALYSIS

GBP/USD

GBP/USD Intraday: the upside prevails.

Pivot:1.3305

Our preference:

Long positions above 1.3305 with targets at 1.3370 & 1.3400 in extension.

Alternative scenario:

Below 1.3305 look for further downside with 1.3275 & 1.3245 as targets.

Comment:

The RSI advocates for further advance.

USD/JPY

USD/JPY Intraday: under pressure.

Pivot:155.55

Our preference:

Short positions below 155.55 with targets at 154.95 & 154.65 in extension.

Alternative scenario:

Above 155.55 look for further upside with 155.80 & 156.05 as targets.

Comment:

The RSI calls for a new downleg.

EUR/USD

EUR/USD Intraday: further advance.

Pivot:1.1640

Our preference:

Long positions above 1.1640 with targets at 1.1690 & 1.1710 in extension.

Alternative scenario:

Below 1.1640 look for further downside with 1.1620 & 1.1590 as targets.

Comment:

The RSI is bullish and calls for further upside.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (F6)‎ Intraday: bullish bias above 58.75.

Pivot:58.75

Our preference:

Long positions above 58.75 with targets at 59.35 & 59.65 in extension.

Alternative scenario:

Below 58.75 look for further downside with 58.30 & 58.00 as targets.

Comment:

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

GOLD

Gold Intraday: choppy.

Pivot:4220

Our preference:

Short positions below 4220 with targets at 4193 & 4180 in extension.

Alternative scenario:

Above 4220 look for further upside with 4241 & 4264 as targets.

Comment:

Intraday technical indicators are mixed.

DOW JONES (CME)

Dow Jones (CME)‎ (Z5)‎ Intraday: target 48190.

Pivot:47790

Our preference:

Long positions above 47790 with targets at 48190 & 48335 in extension.

Alternative scenario:

Below 47790 look for further downside with 47710 & 47590 as targets.

Comment:

The break above 47790 is a positive signal that has opened a path to 48190.

NASDAQ (CME)

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

Pivot:25575

Our preference:

Long positions above 25575 with targets at 25760 & 25830 in extension.

Alternative scenario:

Below 25575 look for further downside with 25490 & 25440 as targets.

Comment:

The break above 25575 is a positive signal that has opened a path to 25760.

S&P 500 (CME)‎

S&P 500 (CME)‎ (Z5)‎ Intraday: bullish bias above 6843.

Pivot:6843

Our preference:

Long positions above 6843 with targets at 6878 & 6890 in extension.

Alternative scenario:

Below 6843 look for further downside with 6820 & 6804 as targets.

Comment:

The RSI is around its neutrality area at 50%