Weekly Kickoff: Step Into the Market with Purpose

MARKET ANALYSIS

USDJPY

USD/JPY Intraday: bullish bias above 154.90.

Pivot:154.90

Our preference:

Long positions above 154.90 with targets at 155.50 & 155.75 in extension.

Alternative scenario:

Below 154.90 look for further downside with 154.55 & 154.30 as targets.

Comment:

The RSI is above its neutrality area at 50%.

EURUSD

EUR/USD Intraday: key resistance at 1.1660.

Pivot:1.1660

Our preference:

Short positions below 1.1660 with targets at 1.1625 & 1.1610 in extension.

Alternative scenario:

Above 1.1660 look for further upside with 1.1680 & 1.1700 as targets.

Comment:

As long as the resistance at 1.1660 is not surpassed, the risk of the break below 1.1625 remains high.

GBPUSD

GBP/USD Intraday: consolidation in place.

Pivot:1.3360

Our preference:

Short positions below 1.3360 with targets at 1.3290 & 1.3275 in extension.

Alternative scenario:

Above 1.3360 look for further upside with 1.3385 & 1.3410 as targets.

Comment:

The RSI calls for a drop.

GOLD

Gold Intraday: 4180 expected.

Pivot:4220

Our preference:

Short positions below 4220 with targets at 4180 & 4160 in extension.

Alternative scenario:

Above 4220 look for further upside with 4235 & 4248 as targets.

Comment:

The RSI is below its neutrality area at 50%

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (F6)‎ Intraday: aim @ 60.80.

Pivot:59.75

Our preference:

Long positions above 59.75 with targets at 60.50 & 60.80 in extension.

Alternative scenario:

Below 59.75 look for further downside with 59.40 & 59.10 as targets.

Comment:

The RSI is mixed with a bullish bias.

NASDAQ 100 (CME)

Nasdaq 100 (CME)‎ (Z5)‎ Intraday: expect 25850.

Pivot:25605

Our preference:

Long positions above 25605 with targets at 25850 & 25930 in extension.

Alternative scenario:

Below 25605 look for further downside with 25540 & 25480 as targets.

Comment:

Intraday technical indicators are mixed.

S&P 500 (CME)

S&P 500 (CME)‎ (Z5)‎ Intraday: intraday support around 6860.

Pivot:6860

Our preference:

Long positions above 6860 with targets at 6900 & 6915 in extension.

Alternative scenario:

Below 6860 look for further downside with 6843 & 6820 as targets.

Comment:

The RSI lacks momentum.

DOW JONES (CME)

Dow Jones (CME)‎ (Z5)‎ Intraday: bullish bias above 47900.

Pivot:47900

Our preference:

Long positions above 47900 with targets at 48130 & 48210 in extension.

Alternative scenario:

Below 47900 look for further downside with 47830 & 47690 as targets.

Comment:

The next resistances are at 48130 and then at 48210