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MARKET ANALYSIS

USDJPY

USD/JPY Intraday: 159.00 in sight.

Pivot:

157.70

Our preference:

Long positions above 157.70 with targets at 158.70 & 159.00 in extension.

Alternative scenario:

Below 157.70 look for further downside with 157.40 & 157.10 as targets.

Comment:

The RSI is bullish and calls for further advance.

EURUSD

EUR/USD Intraday: under pressure.

Pivot:

1.1590

Our preference:

Short positions below 1.1590 with targets at 1.1490 & 1.1450 in extension.

Alternative scenario:

Above 1.1590 look for further upside with 1.1620 & 1.1650 as targets.

Comment:

The RSI is bearish and calls for further downside.

GBPUSD

GBP/USD Intraday: the downside prevails.

Pivot:

1.3375

Our preference:

Short positions below 1.3375 with targets at 1.3260 & 1.3220 in extension.

Alternative scenario:

Above 1.3375 look for further upside with 1.3410 & 1.3440 as targets.

Comment:

The RSI calls for a new downleg.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (J6)‎ Intraday: expect 115.00.

Pivot:

101.00

Our preference:

Long positions above 101.00 with targets at 110.00 & 115.00 in extension.

Alternative scenario:

Below 101.00 look for further downside with 98.00 & 92.50 as targets.

Comment:

The RSI shows upside momentum.

GOLD

Gold Intraday: choppy.

Pivot:

5175

Our preference:

Short positions below 5175 with targets at 5050 & 4995 in extension.

Alternative scenario:

Above 5175 look for further upside with 5225 & 5265 as targets.

Comment:

As long as 5175 is resistance, look for choppy price action with a bearish bias.

DOW JONES

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

Pivot:

47040

Our preference:

Short positions below 47040 with targets at 46480 & 46180 in extension.

Alternative scenario:

Above 47040 look for further upside with 47300 & 47590 as targets.

Comment:

The RSI has broken down its 30 level.

NASDAQ 100

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

Pivot:

24530

Our preference:

Short positions below 24530 with targets at 24110 & 23980 in extension.

Alternative scenario:

Above 24530 look for further upside with 24660 & 24780 as targets.

Comment:

The RSI has broken down its 30 level.

S&P 500

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

Pivot:

6690

Our preference:

Short positions below 6690 with targets at 6610 & 6575 in extension.

Alternative scenario:

Above 6690 look for further upside with 6720 & 6750 as targets.

Comment:

The RSI has broken down its 30 level.