USDJPY & Equities Rally; EUR, GBP, Gold & Oil Slide

MARKET ANALYSIS

USDJPY

USD/JPY intraday : Aim at 158.02

Our pivot point is at 157.11.

Our preference:

The upside prevails as long as 157.11 is support, with 158.02 and 158.26 as targets

Alternative scenario:

Below 157.11, expect 156.70 and 156.45.

Comment:

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The price is above its 20 and 50 period moving average (respectively at 157.42 and 157.39).

EURUSD

EUR/USD intraday : Risk escalating

Our pivot point is at 1.1458.

Our preference:

The downside prevails as long as 1.1458 is resistance, with 1.1416 and 1.1405 as targets

Alternative scenario:

Above 1.1458, look for 1.1475 and 1.1486.

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 : Watch 1.3310

Our pivot point is at 1.3375.

Our preference:

The downside prevails as long as 1.3375 is resistance, with 1.3310 and 1.3297 as targets

Alternative scenario:

Above 1.3375, look for 1.3397 and 1.3411.

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 (1.3340) but below its 50 period moving average (1.3357).

CRUDE OIL

Crude Oil (WTI)‎ (X6)‎ intraday: key resistance at 93.80.

Pivot:

93.80

Our preference:

Short positions below 93.80 with targets at 87.00 & 85.00 in extension.

Alternative scenario:

Above 93.80 look for further upside with 96.00 & 98.00 as targets.

Comment:

The RSI calls for a drop.

GOLD

Gold intraday : Pivotal moment

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 asset's price is approaching our pivot level at a critical juncture, leaving little room for the asset to reverse its current trajectory.

DOW JONES

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

Pivot:

51890

Our preference:

Long positions above 51890 with targets at 52840 & 53030 in extension.

Alternative scenario:

Below 51890 look for further downside with 51750 & 51600 as targets.

Comment:

The RSI calls for a new upleg.

NASDAQ 100

Nasdaq 100 (CME)‎ (Z6)‎ intraday: towards 31560.

Pivot:

30390

Our preference:

Long positions above 30390 with targets at 31270 & 31560 in extension.

Alternative scenario:

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

Comment:

The RSI advocates for further advance.

S&P 500

S&P 500 (CME)‎ (Z6)‎ intraday: expect 7898.

Pivot:

7790

Our preference:

Long positions above 7790 with targets at 7861 & 7898 in extension.

Alternative scenario:

Below 7790 look for further downside with 7768 & 7737 as targets.

Comment:

The RSI calls for a new upleg.