Today, only the Yen is up; the Pound, Euro, Oil, Gold, and all indexes are down.

MARKET ANALYSIS

GBPUSD

GBP/USD intraday: under pressure.

Pivot:1.3350

Our preference:

Short positions below 1.3350 with targets at 1.3260 & 1.3230 in extension.

Alternative scenario:

Above 1.3350 look for further upside with 1.3380 & 1.3405 as targets.

Comment:

A break below 1.3260 would trigger a drop towards 1.3230.

USDJPY

USD/JPY intraday: bullish bias above 160.30.

Pivot:160.30

Our preference:

Long positions above 160.30 with targets at 160.80 & 161.00 in extension.

Alternative scenario:

Below 160.30 look for further downside with 160.10 & 159.90 as targets.

Comment:

The RSI is above its neutrality area at 50%.

EURUSD

EUR/USD intraday: the downside prevails.

Pivot:1.1550

Our preference:

Short positions below 1.1550 with targets at 1.1475 & 1.1450 in extension.

Alternative scenario:

Above 1.1550 look for further upside with 1.1575 & 1.1595 as targets.

Comment:

The RSI is bearish and calls for further decline.

CRUDE OIL

Crude Oil (WTI)‎ (Q6)‎ intraday: key resistance at 77.00.

Pivot:77.00

Our preference:

Short positions below 77.00 with targets at 74.50 & 73.00 in extension.

Alternative scenario:

Above 77.00 look for further upside with 78.50 & 79.45 as targets.

Comment:

As long as the resistance at 77.00 is not surpassed, the risk of the break below 74.50 remains high.

GOLD

Gold intraday: key resistance at 4300.

Pivot:4300

Our preference:

Short positions below 4300 with targets at 4230 & 4200 in extension.

Alternative scenario:

Above 4300 look for further upside with 4340 & 4380 as targets.

Comment:

The RSI is below its neutrality area at 50%

DOW JONES

Dow Jones (CME)‎ (U6)‎ intraday: caution.

Pivot:52230

Our preference:

Short positions below 52230 with targets at 51680 & 51480 in extension.

Alternative scenario:

Above 52230 look for further upside with 52380 & 52560 as targets.

Comment:

Intraday technical indicators are mixed and call for caution.

NASDAQ 100

Nasdaq 100 (CME)‎ (U6)‎ intraday: caution.

Pivot:30350

Our preference:

Short positions below 30350 with targets at 29980 & 29760 in extension.

Alternative scenario:

Above 30350 look for further upside with 30570 & 30760 as targets.

Comment:

Intraday technical indicators are mixed and call for caution.

S&P 500

S&P 500 (CME)‎ (U6)‎ intraday: caution.

Pivot:7542

Our preference:

Short positions below 7542 with targets at 7490 & 7440 in extension.

Alternative scenario:

Above 7542 look for further upside with 7580 & 7615 as targets.

Comment:

The RSI is mixed and calls for caution.