Trend Development in Focus

MARKET ANALYSIS

USDJPY

USD/JPY Intraday: watch 158.25.

Pivot:

159.45

Our preference:

Short positions below 159.45 with targets at 158.25 & 158.00 in extension.

Alternative scenario:

Above 159.45 look for further upside with 159.75 & 160.00 as targets.

Comment:

As long as the resistance at 159.45 is not surpassed, the risk of the break below 158.25 remains high.

EURUSD

EUR/USD Intraday: further advance.

Pivot:

1.1600

Our preference:

Long positions above 1.1600 with targets at 1.1740 & 1.1775 in extension.

Alternative scenario:

Below 1.1600 look for further downside with 1.1570 & 1.1540 as targets.

Comment:

The RSI is bullish and calls for further upside.

GBPUSD

GBP/USD Intraday: further advance.

Pivot:

1.3300

Our preference:

Long positions above 1.3300 with targets at 1.3465 & 1.3500 in extension.

Alternative scenario:

Below 1.3300 look for further downside with 1.3265 & 1.3230 as targets.

Comment:

The RSI is bullish and calls for further upside.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (K6)‎ Intraday: under pressure.

Pivot:

103.00

Our preference:

Short positions below 103.00 with targets at 91.00 & 84.40 in extension.

Alternative scenario:

Above 103.00 look for further upside with 107.50 & 112.00 as targets.

Comment:

The RSI has broken down its 30 level.

GOLD

Gold Intraday: further advance.

Pivot:

4705

Our preference:

Long positions above 4705 with targets at 4865 & 4950 in extension.

Alternative scenario:

Below 4705 look for further downside with 4655 & 4605 as targets.

Comment:

The RSI shows upside momentum.

NASDAQ 100

Nasdaq 100 (CME)‎ (M6)‎ Intraday: bounce.

Pivot:

24450

Our preference:

Long positions above 24450 with targets at 25250 & 25850 in extension.

Alternative scenario:

Below 24450 look for further downside with 24200 & 23940 as targets.

Comment:

The RSI advocates for further upside.

S&P 500

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

Pivot:

6670

Our preference:

Long positions above 6670 with targets at 6855 & 6950 in extension.

Alternative scenario:

Below 6670 look for further downside with 6625 & 6575 as targets.

Comment:

The RSI shows upside momentum.

DOW JONES

Dow Jones (CME)‎ (M6)‎ Intraday: further upside.

Pivot:

47050

Our preference:

Long positions above 47050 with targets at 48000 & 48500 in extension.

Alternative scenario:

Below 47050 look for further downside with 46750 & 46470 as targets.

Comment:

The RSI is bullish and calls for further advance.