Most markets are bright this morning, with only the Yen and Gold pausing.

MARKET ANALYSIS

USDJPY

USD/JPY intraday: choppy.

Pivot:

162.30

Our preference:

Short positions below 162.30 with targets at 161.85 & 161.65 in extension.

Alternative scenario:

Above 162.30 look for further upside with 162.50 & 162.70 as targets.

Comment:

As long as the resistance at 162.30 is not surpassed, the risk of the break below 161.85 remains high.

EURUSD

EUR/USD intraday: the upside prevails.

Pivot:

1.1435

Our preference:

Long positions above 1.1435 with targets at 1.1485 & 1.1505 in extension.

Alternative scenario:

Below 1.1435 look for further downside with 1.1420 & 1.1405 as targets.

Comment:

The RSI is bullish and calls for further upside.

GBPUSD

GBP/USD intraday: 1.3600 in sight.

Pivot:

1.3490

Our preference:

Long positions above 1.3490 with targets at 1.3560 & 1.3600 in extension.

Alternative scenario:

Below 1.3490 look for further downside with 1.3450 & 1.3420 as targets.

Comment:

The RSI advocates for further advance.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (Q6)‎ intraday: towards 82.60.

Pivot:

78.35

Our preference:

Long positions above 78.35 with targets at 82.60 & 83.40 in extension.

Alternative scenario:

Below 78.35 look for further downside with 77.50 & 76.00 as targets.

Comment:

The next resistances are at 82.60 and then at 83.40.

GOLD

Gold intraday: watch 4031.

Pivot:

4075

Our preference:

Short positions below 4075 with targets at 4031 & 4013 in extension.

Alternative scenario:

Above 4075 look for further upside with 4100 & 4120 as targets.

Comment:

The RSI lacks momentum.

DOW JONES

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

Pivot:

52775

Our preference:

Long positions above 52775 with targets at 53113 & 53260 in extension.

Alternative scenario:

Below 52775 look for further downside with 52680 & 52580 as targets.

Comment:

The next resistances are at 53113 and then at 53260.

NASDAQ 100

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

Pivot:

29530

Our preference:

Long positions above 29530 with targets at 29880 & 30080 in extension.

Alternative scenario:

Below 29530 look for further downside with 29360 & 29280 as targets.

Comment:

The RSI calls for a bounce.

S&P 500

S&P 500 (CME)‎ (U6)‎ intraday: further upside.

Pivot:

7585

Our preference:

Long positions above 7585 with targets at 7630 & 7650 in extension.

Alternative scenario:

Below 7585 look for further downside with 7570 & 7555 as targets.

Comment:

The RSI advocates for further advance.