Emerging Market Trends

MARKET ANALYSIS

USDJPY

USD/JPY Intraday: the downside prevails.

Pivot:153.30

Our preference:

Short positions below 153.30 with targets at 152.30 & 151.90 in extension.

Alternative scenario:

Above 153.30 look for further upside with 153.65 & 154.00 as targets.

Comment:

As long as the resistance at 153.30 is not surpassed, the risk of the break below 152.30 remains high.

EURUSD

EUR/USD Intraday: intraday support around 1.1845.

Pivot:1.1845

Our preference:

Long positions above 1.1845 with targets at 1.1885 & 1.1900 in extension.

Alternative scenario:

Below 1.1845 look for further downside with 1.1830 & 1.1815 as targets.

Comment:

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

GBPUSD

GBP/USD Intraday: bullish bias above 1.3610.

Pivot:1.3610

Our preference:

Long positions above 1.3610 with targets at 1.3670 & 1.3690 in extension.

Alternative scenario:

Below 1.3610 look for further downside with 1.3590 & 1.3570 as targets.

Comment:

The RSI is above its neutrality area at 50%.

GOLD

Gold Intraday: look for 5080.

Pivot:4985

Our preference:

Long positions above 4985 with targets at 5080 & 5115 in extension.

Alternative scenario:

Below 4985 look for further downside with 4940 & 4915 as targets.

Comment:

The RSI is above its neutrality area at 50%.

CRUDE OIL (WTI)

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

Pivot:63.30

Our preference:

Short positions below 63.30 with targets at 62.35 & 61.90 in extension.

Alternative scenario:

Above 63.30 look for further upside with 63.80 & 64.30 as targets.

Comment:

The RSI is around its neutrality area at 50%

NASDAQ 100

Nasdaq 100 (CME)‎ (H6)‎ Intraday: the downside prevails.

Pivot:25030

Our preference:

Short positions below 25030 with targets at 24550 & 24430 in extension.

Alternative scenario:

Above 25030 look for further upside with 25200 & 25340 as targets.

Comment:

As long as 25030 is resistance, expect a return to 24550.

S&P 500

S&P 500 (CME)‎ (H6)‎ Intraday: under pressure.

Pivot:6895

Our preference:

Short positions below 6895 with targets at 6808 & 6770 in extension.

Alternative scenario:

Above 6895 look for further upside with 6933 & 6970 as targets.

Comment:

A break below 6808 would trigger a drop towards 6770.

DOW JONES

Dow Jones (CME)‎ (H6)‎ Intraday: the downside prevails.

Pivot:49820

Our preference:

Short positions below 49820 with targets at 49200 & 48960 in extension.

Alternative scenario:

Above 49820 look for further upside with 49970 & 50290 as targets.

Comment:

Technically the RSI is below its neutrality area at 50.