FX & Gold Under Pressure; Oil Bearish; Equities Rally On

MARKET ANALYSIS

USDJPY

USD/JPY intraday : 156.63 in sight

Our pivot point is at 157.59.

Our preference:

Even if a technical recovery cannot be ruled out, a drop towards 156.38 remains likely as long as 157.59 is resistance

Alternative scenario:

Above 157.59, look for 158.01 and 158.25.

Comment:

The RSI is below its neutrality area at 50. The price is below its 20 period moving average (157.41) but above its 50 period moving average (157.20).

EURUSD

EUR/USD intraday : Pivotal moment

Our pivot point is at 1.1461.

Our preference:

The technical picture is a bit hazy. Above 1.1461, look for a rise towards 1.1501

Alternative scenario:

Below 1.1461, expect 1.1443 and 1.1433.

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.

GBPUSD

GBP/USD intraday : Pivotal moment

Our pivot point is at 1.3362.

Our preference:

The technical picture is a bit hazy. Above 1.3362, look for a rise towards 1.3414

Alternative scenario:

Below 1.3362, expect 1.3340 and 1.3326.

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.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (X6)‎ intraday: under pressure.

Pivot:94.70

Our preference:

Short positions below 94.70 with targets at 90.00 & 88.00 in extension.

Alternative scenario:

Above 94.70 look for further upside with 96.00 & 98.00 as targets.

Comment:

Technically the RSI is below its neutrality area at 50.

GOLD

Gold intraday : Expect 4,290

Our pivot point is at 4,391.

Our preference:

The downside prevails as long as 4,391 is resistance, with 4,290 and 4,263 as targets

Alternative scenario:

Above 4,391, look for 4,437 and 4,464.

Comment:

The MACD is above its signal line and negative.

DOW JONES

Dow Jones (CME)‎ (Z6)‎ intraday: the bias remains bullish.

Pivot:52040

Our preference:

Long positions above 52040 with targets at 52700 & 53030 in extension.

Alternative scenario:

Below 52040 look for further downside with 51830 & 51600 as targets.

Comment:

The RSI is mixed to bullish.

NASDAQ 100

Nasdaq 100 (CME)‎ (Z6)‎ intraday: 31270 expected.

Pivot:30390

Our preference:

Long positions above 30390 with targets at 30990 & 31270 in extension.

Alternative scenario:

Below 30390 look for further downside with 30200 & 29960 as targets.

Comment:

The RSI shows upside momentum.

S&P 500

S&P 500 (CME)‎ (Z6)‎ intraday: further upside.

Pivot:7768

Our preference:

Long positions above 7768 with targets at 7861 & 7898 in extension.

Alternative scenario:

Below 7768 look for further downside with 7737 & 7675 as targets.

Comment:

The RSI shows upside momentum.