Dollar on the Back Foot: GBP, Oil, Gold & Equities Advance While EUR & JPY Struggle

MARKET ANALYSIS

EURUSD

EUR/USD intraday : 1.1170 expected

Our pivot point is at 1.1215.

Our preference:

The downside prevails as long as 1.1215 is resistance, with 1.1170 and 1.1158 as targets

Alternative scenario:

Above 1.1215, look for 1.1234 and 1.1246.

Comment:

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The price stands below its 20 and 50 period moving average (respectively at 1.1196 and 1.1211).

USDJPY

USD/JPY intraday : Trend at a crossroads

Our pivot point is at 158.43.

Our preference:

Under pressure below 158.43, with 157.41 and 157.17 as targets

Alternative scenario:

Above 158.43, look for 158.84 and 159.08.

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.

GBPUSD

GBP/USD intraday : Pivot threshold in sight

Our pivot point is at 1.3216.

Our preference:

The upside prevails as long as 1.3216 is support, with 1.3274 and 1.3289 as targets

Alternative scenario:

Below 1.3216, expect 1.3191 and 1.3176.

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.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (Z6)‎ intraday: further advance.

Pivot:90.20

Our preference:

Long positions above 90.20 with targets at 92.10 & 92.90 in extension.

Alternative scenario:

Below 90.20 look for further downside with 89.30 & 88.40 as targets.

Comment:

The RSI is bullish and calls for further upside.

GOLD

Gold intraday : Expect 4,240

Our pivot point is at 4,151.

Our preference:

The upside prevails as long as 4,151 is support, with 4,240 and 4,264 as targets

Alternative scenario:

Below 4,151, expect 4,112 and 4,088.

Comment:

The MACD is below its signal line and positive. The price is below its 20 period moving average (4,190) but above its 50 period moving average (4,179).

NASDAQ 100

Nasdaq 100 (CME)‎ (Z6)‎ intraday: look for 31620.

Pivot:30795

Our preference:

Long positions above 30795 with targets at 31365 & 31620 in extension.

Alternative scenario:

Below 30795 look for further downside with 30500 & 30225 as targets.

Comment:

The RSI shows upside momentum.

S&P 500

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

Pivot:7830

Our preference:

Long positions above 7830 with targets at 7900 & 7950 in extension.

Alternative scenario:

Below 7830 look for further downside with 7784 & 7750 as targets.

Comment:

The RSI shows upside momentum.

DOW JONES

Dow Jones (CME)‎ (Z6)‎ intraday: the upside prevails.

Pivot:51615

Our preference:

Long positions above 51615 with targets at 52250 & 52500 in extension.

Alternative scenario:

Below 51615 look for further downside with 51210 & 50915 as targets.

Comment:

The RSI shows upside momentum.