USDJPY and Crude Oil shine in a challenging market.

MARKET ANALYSIS

USDJPY

USD/JPY intraday: the upside prevails.

Pivot:

160.35

Our preference:

Long positions above 160.35 with targets at 160.70 & 160.85 in extension.

Alternative scenario:

Below 160.35 look for further downside with 160.20 & 160.05 as targets.

Comment:

The RSI is above its neutrality area at 50%.

EURUSD

EUR/USD intraday: choppy.

Pivot:

1.1560

Our preference:

Short positions below 1.1560 with targets at 1.1520 & 1.1500 in extension.

Alternative scenario:

Above 1.1560 look for further upside with 1.1575 & 1.1590 as targets.

Comment:

As long as the resistance at 1.1560 is not surpassed, the risk of the break below 1.1520 remains high.

GBPUSD

GBP/USD intraday: the downside prevails.

Pivot:

1.3400

Our preference:

Short positions below 1.3400 with targets at 1.3330 & 1.3305 in extension.

Alternative scenario:

Above 1.3400 look for further upside with 1.3420 & 1.3440 as targets.

Comment:

The RSI calls for a new downleg.

CRUDE OIL

Crude Oil (WTI)‎ (N6)‎ intraday: the upside prevails.

Pivot:

90.40

Our preference:

Long positions above 90.40 with targets at 94.80 & 96.20 in extension.

Alternative scenario:

Below 90.40 look for further downside with 88.80 & 87.45 as targets.

Comment:

The RSI shows upside momentum.

GOLD

Gold intraday: target 3960.

Pivot:

4130

Our preference:

Short positions below 4130 with targets at 4000 & 3960 in extension.

Alternative scenario:

Above 4130 look for further upside with 4185 & 4220 as targets.

Comment:

The RSI shows downside momentum.

DOW JONES

Dow Jones (CME)‎ (M6)‎ intraday: under pressure.

Pivot:

50385

Our preference:

Short positions below 50385 with targets at 49640 & 49330 in extension.

Alternative scenario:

Above 50385 look for further upside with 50730 & 50950 as targets.

Comment:

The RSI has broken down its 30 level.

NASDAQ 100

Nasdaq 100 (CME)‎ (M6)‎ intraday: the downside prevails.

Pivot:

28830

Our preference:

Short positions below 28830 with targets at 28230 & 27940 in extension.

Alternative scenario:

Above 28830 look for further upside with 29150 & 29330 as targets.

Comment:

The RSI is below its neutrality area at 50%

S&P 500

S&P 500 (CME)‎ (M6)‎ intraday: watch 7180.

Pivot:

7315

Our preference:

Short positions below 7315 with targets at 7210 & 7180 in extension.

Alternative scenario:

Above 7315 look for further upside with 7360 & 7390 as targets.

Comment:

A break below 7210 would trigger a drop towards 7180.