Diverging Markets: Oil/Stocks Up; USDJPY/EUR/GBP/Gold Down

MARKET ANALYSIS

USDJPY

USD/JPY intraday : Pivot threshold in sight

Our pivot point is at 159.43.

Our preference:

The downside prevails as long as 159.43 is resistance, with 158.59 and 158.39 as targets

Alternative scenario:

Above 159.43, look for 159.76 and 159.97.

Comment:

The asset is now hovering dangerously close to our pivot, representing a pivotal moment that could be among the last opportunities for a trend reversal.

EURUSD

EUR/USD intraday : Target 1.1634

Our pivot point is at 1.1685.

Our preference:

The downside prevails as long as 1.1685 is resistance, with 1.1634 and 1.1621 as targets

Alternative scenario:

Above 1.1685, look for 1.1707 and 1.1720.

Comment:

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The price stands above its 20 period moving average (1.1652) but below its 50 period moving average (1.1661).

GBPUSD

GBP/USD intraday : Key support level approaches

Our pivot point is at 1.3657.

Our preference:

The downside prevails as long as 1.3657 is resistance, with 1.3580 and 1.3561 as targets

Alternative scenario:

Above 1.3657, look for 1.3690 and 1.3709.

Comment:

With prices nearing our first target, a pullback may emerge, though a clean break below could accelerate the downside.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (V6)‎ intraday: intraday support around 80.90.

Pivot:80.90

Our preference:

Long positions above 80.90 with targets at 83.30 & 84.70 in extension.

Alternative scenario:

Below 80.90 look for further downside with 79.60 & 78.30 as targets.

Comment:

The RSI is mixed to bullish.

GOLD

Gold intraday : 4,553 expected

Our pivot point is at 4,665.

Our preference:

The downside prevails as long as 4,665 is resistance, with 4,553 and 4,522 as targets

Alternative scenario:

Above 4,665, look for 4,717 and 4,748.

Comment:

The MACD is above its signal line and negative. The price stands above its 20 period moving average (4,601) but below its 50 period moving average (4,623).

DOW JONES

Dow Jones (CME)‎ (U6)‎ intraday: towards 54080.

Pivot:53440

Our preference:

Long positions above 53440 with targets at 54080 & 54340 in extension.

Alternative scenario:

Below 53440 look for further downside with 53200 & 53030 as targets.

Comment:

The RSI calls for a new upleg.

NASDAQ 100

Nasdaq 100 (CME)‎ (U6)‎ intraday: 29760 in sight.

Pivot:29330

Our preference:

Long positions above 29330 with targets at 29760 & 30000 in extension.

Alternative scenario:

Below 29330 look for further downside with 29100 & 28947 as targets.

Comment:

The RSI shows upside momentum.

S&P 500

S&P 500 (CME)‎ (U6)‎ intraday: towards 7765.

Pivot:7696

Our preference:

Long positions above 7696 with targets at 7765 & 7797 in extension.

Alternative scenario:

Below 7696 look for further downside with 7671 & 7656 as targets.

Comment:

The RSI shows upside momentum.