Broad Risk-On: FX, Commodities & Stocks Climb

MARKET ANALYSIS

USDJPY

USD/JPY intraday : Rebound towards 156.72

Our pivot point is at 155.73.

Our preference:

Rebound towards 156.72

Alternative scenario:

Below 155.73, expect 155.41 and 155.23.

Comment:

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. The price stands above its 20 period moving average (155.64) but below its 50 period moving average (156.64).

EURUSD

EUR/USD intraday : Target level as a potential turning point

Our pivot point is at 1.1586.

Our preference:

The upside prevails as long as 1.1586 is support, with 1.1641 and 1.1655 as targets

Alternative scenario:

Below 1.1586, expect 1.1563 and 1.1550.

Comment:

With prices now approaching our initial target, this level may prompt a throwback. That said, a decisive break above it could also act as a catalyst for further upside.

GBPUSD

GBP/USD intraday : Target 1.3572

Our pivot point is at 1.3498.

Our preference:

The upside prevails as long as 1.3498 is support, with 1.3572 and 1.3587 as targets

Alternative scenario:

Below 1.3498, expect 1.3472 and 1.3457.

Comment:

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The price is below its 20 period moving average (1.3530) but above its 50 period moving average (1.3508).

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (V6)‎ intraday: bullish bias above 90.30.

Pivot:

90.30

Our preference:

Long positions above 90.30 with targets at 93.10 & 94.60 in extension.

Alternative scenario:

Below 90.30 look for further downside with 89.10 & 87.55 as targets.

Comment:

The RSI calls for a rebound.

GOLD

Gold intraday : Pivotal moment

Our pivot point is at 4,445.

Our preference:

The upside prevails as long as 4,445 is support, with 4,572 and 4,602 as targets

Alternative scenario:

Below 4,445, expect 4,394 and 4,364.

Comment:

The asset price is approaching our pivot level, which represents one of the last opportunities for the asset to reverse its recent trend.

DOW JONES

Dow Jones (CME)‎ (U6)‎ intraday: expect 54120.

Pivot:

53400

Our preference:

Long positions above 53400 with targets at 53860 & 54120 in extension.

Alternative scenario:

Below 53400 look for further downside with 53260 & 52900 as targets.

Comment:

The RSI is mixed to bullish.

NASDAQ 100

Nasdaq 100 (CME)‎ (U6)‎ intraday: towards 29700.

Pivot:

29370

Our preference:

Long positions above 29370 with targets at 29700 & 29810 in extension.

Alternative scenario:

Below 29370 look for further downside with 29230 & 29070 as targets.

Comment:

The RSI is mixed to bullish.

S&P 500

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

Pivot:

7715

Our preference:

Long positions above 7715 with targets at 7781 & 7800 in extension.

Alternative scenario:

Below 7715 look for further downside with 7690 & 7661 as targets.

Comment:

The RSI is mixed to bullish.