Entering Q2 with Strategic Focus

MARKET INSIGHTS

USDJPY

USD/JPY Intraday: the downside prevails.

Pivot:159.35

Our preference:

Short positions below 159.35 with targets at 158.00 & 157.65 in extension.

Alternative scenario:

Above 159.35 look for further upside with 159.65 & 160.00 as targets.

Comment:

The RSI lacks upward momentum.

EURUSD

EUR/USD Intraday: towards 1.1610.

Pivot:1.1510

Our preference:

Long positions above 1.1510 with targets at 1.1610 & 1.1640 in extension.

Alternative scenario:

Below 1.1510 look for further downside with 1.1485 & 1.1460 as targets.

Comment:

The break above 1.1510 is a positive signal that has opened a path to 1.1610.

GBPUSD

GBP/USD Intraday: further advance.

Pivot:1.3170

Our preference:

Long positions above 1.3170 with targets at 1.3290 & 1.3320 in extension.

Alternative scenario:

Below 1.3170 look for further downside with 1.3135 & 1.3100 as targets.

Comment:

The RSI advocates for further upside.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (K6)‎ Intraday: watch 98.10.

Pivot:105.00

Our preference:

Short positions below 105.00 with targets at 99.60 & 98.10 in extension.

Alternative scenario:

Above 105.00 look for further upside with 106.80 & 108.50 as targets.

Comment:

As long as the resistance at 105.00 is not surpassed, the risk of the break below 99.60 remains high.

GOLD

Gold Intraday: the upside prevails.

Pivot:4595

Our preference:

Long positions above 4595 with targets at 4735 & 4800 in extension.

Alternative scenario:

Below 4595 look for further downside with 4540 & 4490 as targets.

Comment:

The RSI is bullish and calls for further upside.

DOW JONES

Dow Jones (CME)‎ (M6)‎ Intraday: bullish bias above 46320.

Pivot:46320

Our preference:

Long positions above 46320 with targets at 46790 & 46950 in extension.

Alternative scenario:

Below 46320 look for further downside with 46090 & 45730 as targets.

Comment:

The RSI lacks downward momentum.

NASDAQ 100

Nasdaq 100 (CME)‎ (M6)‎ Intraday: the upside prevails.

Pivot:23760

Our preference:

Long positions above 23760 with targets at 24190 & 24330 in extension.

Alternative scenario:

Below 23760 look for further downside with 23570 & 23390 as targets.

Comment:

The RSI is bullish and calls for further advance.

S&P 500

S&P 500 (CME)‎ (M6)‎ Intraday: further advance.

Pivot:6525

Our preference:

Long positions above 6525 with targets at 6600 & 6640 in extension.

Alternative scenario:

Below 6525 look for further downside with 6490 & 6465 as targets.

Comment:

The RSI calls for a new upleg.