Levels & Logic: Where Price Is Telling the Truth

MARKET ANALYSIS

GBPUSD

GBP/USD Intraday: bullish bias above 1.3340.

Pivot:1.3340

Our preference:

Long positions above 1.3340 with targets at 1.3405 & 1.3430 in extension.

Alternative scenario:

Below 1.3340 look for further downside with 1.3315 & 1.3295 as targets.

Comment:

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

USDJPY

USD/JPY Intraday: the upside prevails.

Pivot:155.25

Our preference:

Long positions above 155.25 with targets at 155.85 & 156.10 in extension.

Alternative scenario:

Below 155.25 look for further downside with 155.00 & 154.70 as targets.

Comment:

The break above 155.25 is a positive signal that has opened a path to 155.85.

EURUSD

EUR/USD Intraday: the bias remains bullish.

Pivot:1.1715

Our preference:

Long positions above 1.1715 with targets at 1.1760 & 1.1775 in extension.

Alternative scenario:

Below 1.1715 look for further downside with 1.1700 & 1.1685 as targets.

Comment:

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

GOLD

Gold Intraday: 4375 expected.

Pivot:4315

Our preference:

Long positions above 4315 with targets at 4353 & 4375 in extension.

Alternative scenario:

Below 4315 look for further downside with 4290 & 4275 as targets.

Comment:

The RSI is mixed with a bullish bias.

CRUDE OIL

Crude Oil (WTI)‎ (G6)‎ Intraday: rebound expected.

Pivot:56.00

Our preference:

Long positions above 56.00 with targets at 57.20 & 57.60 in extension.

Alternative scenario:

Below 56.00 look for further downside with 55.55 & 54.95 as targets.

Comment:

The RSI calls for a new upleg.

NASDAQ 100

Nasdaq 100 (CME)‎ (H6)‎ Intraday: aim @ 24670.

Pivot:25120

Our preference:

Short positions below 25120 with targets at 24820 & 24670 in extension.

Alternative scenario:

Above 25120 look for further upside with 25300 & 25500 as targets.

Comment:

The break below 25120 is a negative signal that has opened a path to 24820.

S&P 500

S&P 500 (CME)‎ (H6)‎ Intraday: towards 6733.

Pivot:6821

Our preference:

Short positions below 6821 with targets at 6760 & 6733 in extension.

Alternative scenario:

Above 6821 look for further upside with 6842 & 6890 as targets.

Comment:

The break below 6821 is a negative signal that has opened a path to 6760.

DOW JONES

Dow Jones (CME)‎ (H6)‎ Intraday: aim @ 48000.

Pivot:48450

Our preference:

Short positions below 48450 with targets at 48150 & 48000 in extension.

Alternative scenario:

Above 48450 look for further upside with 48745 & 48920 as targets.

Comment:

The RSI calls for a drop.