USDJPY and Crude Oil shine in a challenging market.

MARKET ANALYSIS

GBPUSD

GBP/USD intraday: choppy.

Pivot:1.3220

Our preference:

Short positions below 1.3220 with targets at 1.3175 & 1.3160 in extension.

Alternative scenario:

Above 1.3220 look for further upside with 1.3240 & 1.3255 as targets.

Comment:

As long as 1.3220 is resistance, look for choppy price action with a bearish bias.

USDJPY

USD/JPY intraday: bullish bias above 161.15.

Pivot:161.15

Our preference:

Long positions above 161.15 with targets at 161.60 & 161.80 in extension.

Alternative scenario:

Below 161.15 look for further downside with 161.00 & 160.80 as targets.

Comment:

The RSI advocates for further upside.

EURUSD

EUR/USD intraday: key resistance at 1.1480.

Pivot:1.1480

Our preference:

Short positions below 1.1480 with targets at 1.1435 & 1.1415 in extension.

Alternative scenario:

Above 1.1480 look for further upside with 1.1500 & 1.1525 as targets.

Comment:

As long as 1.1480 is resistance, look for choppy price action with a bearish bias.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (Q6)‎ intraday: towards 79.20.

Pivot:76.40

Our preference:

Long positions above 76.40 with targets at 79.20 & 80.10 in extension.

Alternative scenario:

Below 76.40 look for further downside with 75.65 & 74.80 as targets.

Comment:

The RSI shows upside momentum.

GOLD

Gold intraday: key resistance at 4180.

Pivot:4180

Our preference:

Short positions below 4180 with targets at 4125 & 4105 in extension.

Alternative scenario:

Above 4180 look for further upside with 4230 & 4270 as targets.

Comment:

Intraday technical indicators lack momentum.

DOW JONES

Dow Jones (CME)‎ (U6)‎ intraday: aim @ 51470.

Pivot:52120

Our preference:

Short positions below 52120 with targets at 51680 & 51470 in extension.

Alternative scenario:

Above 52120 look for further upside with 52280 & 52420 as targets.

Comment:

The RSI is below its neutrality area at 50%

NASDAQ 100

Nasdaq 100 (CME)‎ (U6)‎ intraday: look for 30240.

Pivot:30700

Our preference:

Short positions below 30700 with targets at 30240 & 30070 in extension.

Alternative scenario:

Above 30700 look for further upside with 30950 & 31080 as targets.

Comment:

As long as 30700 is resistance, expect a return to 30240.

S&P 500

S&P 500 (CME)‎ (U6)‎ intraday: the downside prevails.

Pivot:7568

Our preference:

Short positions below 7568 with targets at 7488 & 7472 in extension.

Alternative scenario:

Above 7568 look for further upside with 7592 & 7615 as targets.

Comment:

As long as 7568 is resistance, expect a return to 7488.