USDJPY and Nasdaq are today's market bright spots.

MARKET ANALYSIS

GBPUSD

GBP/USD intraday: the downside prevails.

Pivot:

1.3185

Our preference:

Short positions below 1.3185 with targets at 1.3140 & 1.3120 in extension.

Alternative scenario:

Above 1.3185 look for further upside with 1.3205 & 1.3225 as targets.

Comment:

As long as the resistance at 1.3185 is not surpassed, the risk of the break below 1.3140 remains high.

USDJPY

USD/JPY intraday: the upside prevails.

Pivot:

161.60

Our preference:

Long positions above 161.60 with targets at 161.90 & 162.10 in extension.

Alternative scenario:

Below 161.60 look for further downside with 161.45 & 161.30 as targets.

Comment:

The RSI advocates for further advance.

EURUSD

EUR/USD intraday: key resistance at 1.1370.

Pivot:

1.1370

Our preference:

Short positions below 1.1370 with targets at 1.1340 & 1.1325 in extension.

Alternative scenario:

Above 1.1370 look for further upside with 1.1385 & 1.1400 as targets.

Comment:

As long as 1.1370 is resistance, look for choppy price action with a bearish bias.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (Q6)‎ intraday: aim @ 68.60.

Pivot:

71.00

Our preference:

Short positions below 71.00 with targets at 68.60 & 67.00 in extension.

Alternative scenario:

Above 71.00 look for further upside with 72.10 & 73.50 as targets.

Comment:

As long as 71.00 is resistance, expect a return to 68.60.

GOLD

Gold intraday: key resistance at 4050.

Pivot:

4050

Our preference:

Short positions below 4050 with targets at 3940 & 3900 in extension.

Alternative scenario:

Above 4050 look for further upside with 4090 & 4140 as targets.

Comment:

As long as 4050 is resistance, likely decline to 3940.

DOW JONES

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

Pivot:

52680

Our preference:

Short positions below 52680 with targets at 51930 & 51720 in extension.

Alternative scenario:

Above 52680 look for further upside with 53000 & 53200 as targets.

Comment:

As long as 52680 is resistance, look for choppy price action with a bearish bias.

NASDAQ 100

Nasdaq 100 (CME)‎ (U6)‎ intraday: towards 30400.

Pivot:

29620

Our preference:

Long positions above 29620 with targets at 30400 & 30690 in extension.

Alternative scenario:

Below 29620 look for further downside with 29260 & 28850 as targets.

Comment:

The next resistances are at 30400 and then at 30690.

S&P 500

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

Pivot:

7490

Our preference:

Short positions below 7490 with targets at 7405 & 7375 in extension.

Alternative scenario:

Above 7490 look for further upside with 7525 & 7550 as targets.

Comment:

As long as 7490 is resistance, look for choppy price action with a bearish bias.