GBPUSD, USDJPY, EURUSD, Oil, and the Indices made their move – Gold's direction hinges on resistance

MARKET ANALYSIS

GBPUSD

GBP/USD intraday: 1.3300 in sight.

Pivot:

1.3225

Our preference:

Long positions above 1.3225 with targets at 1.3275 & 1.3300 in extension.

Alternative scenario:

Below 1.3225 look for further downside with 1.3205 & 1.3185 as targets.

Comment:

The RSI is bullish and calls for further upside.

USDJPY

USD/JPY intraday: the bias remains bullish.

Pivot:

161.75

Our preference:

Long positions above 161.75 with targets at 162.05 & 162.20 in extension.

Alternative scenario:

Below 161.75 look for further downside with 161.60 & 161.45 as targets.

Comment:

The RSI has just landed on its neutrality area at 50% and is turning up.

EURUSD

EUR/USD intraday: the upside prevails.

Pivot:

1.1400

Our preference:

Long positions above 1.1400 with targets at 1.1435 & 1.1455 in extension.

Alternative scenario:

Below 1.1400 look for further downside with 1.1380 & 1.1365 as targets.

Comment:

The RSI advocates for further advance.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (Q6)‎ intraday: bullish bias above 69.80.

Pivot:

69.80

Our preference:

Long positions above 69.80 with targets at 71.15 & 71.85 in extension.

Alternative scenario:

Below 69.80 look for further downside with 69.00 & 68.55 as targets.

Comment:

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

GOLD

Gold intraday: under pressure.

Pivot:

4044

Our preference:

Short positions below 4044 with targets at 3990 & 3965 in extension.

Alternative scenario:

Above 4044 look for further upside with 4065 & 4095 as targets.

Comment:

The RSI is below its neutrality area at 50%

DOW JONES

Dow Jones (CME)‎ (U6)‎ intraday: look for 52700.

Pivot:

52450

Our preference:

Long positions above 52450 with targets at 52700 & 52860 in extension.

Alternative scenario:

Below 52450 look for further downside with 52300 & 52130 as targets.

Comment:

The next resistances are at 52700 and then at 52860.

NASDAQ 100

Nasdaq 100 (CME)‎ (U6)‎ intraday: look for 30340.

Pivot:

29750

Our preference:

Long positions above 29750 with targets at 30200 & 30340 in extension.

Alternative scenario:

Below 29750 look for further downside with 29500 & 29240 as targets.

Comment:

The next resistances are at 30200 and then at 30340.

S&P 500

S&P 500 (CME)‎ (U6)‎ intraday: 7560 in sight.

Pivot:

7470

Our preference:

Long positions above 7470 with targets at 7525 & 7560 in extension.

Alternative scenario:

Below 7470 look for further downside with 7450 & 7415 as targets.

Comment:

The next resistances are at 7525 and then at 7560.