Market Trends Worth Strategic Attention

MARKET ANALYSIS

USDJPY

USD/JPY Intraday: the bias remains bullish.

Pivot:

157.80

Our preference:

Long positions above 157.80 with targets at 158.40 & 158.65 in extension.

Alternative scenario:

Below 157.80 look for further downside with 157.60 & 157.40 as targets.

Comment:

The RSI advocates for further advance.

EURUSD

EUR/USD Intraday: bullish bias above 1.1620.

Pivot:

1.1620

Our preference:

Long positions above 1.1620 with targets at 1.1660 & 1.1680 in extension.

Alternative scenario:

Below 1.1620 look for further downside with 1.1600 & 1.1580 as targets.

Comment:

Technically the RSI is above its neutrality area at 50.

GBPUSD

GBP/USD Intraday: watch 1.3460.

Pivot:

1.3390

Our preference:

Long positions above 1.3390 with targets at 1.3440 & 1.3460 in extension.

Alternative scenario:

Below 1.3390 look for further downside with 1.3370 & 1.3350 as targets.

Comment:

The RSI calls for a bounce.

GOLD

Gold Intraday: aim @ 4710.

Pivot:

4652

Our preference:

Long positions above 4652 with targets at 4690 & 4710 in extension.

Alternative scenario:

Below 4652 look for further downside with 4620 & 4595 as targets.

Comment:

The RSI lacks downward momentum.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (H6)‎ Intraday: bounce.

Pivot:

58.90

Our preference:

Long positions above 58.90 with targets at 60.00 & 60.35 in extension.

Alternative scenario:

Below 58.90 look for further downside with 58.50 & 58.00 as targets.

Comment:

Technically the RSI is above its neutrality area at 50.

S&P 500

S&P 500 (CME)‎ (H6)‎ Intraday: look for 6866.

Pivot:

6935

Our preference:

Short positions below 6935 with targets at 6866 & 6833 in extension.

Alternative scenario:

Above 6935 look for further upside with 6965 & 6980 as targets.

Comment:

The upward potential is likely to be limited by the resistance at 6935.

NASDAQ 100

Nasdaq 100 (CME)‎ (H6)‎ Intraday: towards 25100.

Pivot:

25470

Our preference:

Short positions below 25470 with targets at 25100 & 24890 in extension.

Alternative scenario:

Above 25470 look for further upside with 25640 & 25730 as targets.

Comment:

The RSI has just struck against its neutrality area at 50%.

DOW JONES

Dow Jones (CME)‎ (H6)‎ Intraday: target 48850.

Pivot:

49330

Our preference:

Short positions below 49330 with targets at 48850 & 48670 in extension.

Alternative scenario:

Above 49330 look for further upside with 49460 & 49570 as targets.

Comment:

The RSI is below its neutrality area at 50%.