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Market Analysis

USDJPY

USD/JPY Intraday: rebound expected.

Pivot:154.20

Our preference:

Long positions above 154.20 with targets at 154.75 & 155.00 in extension.

Alternative scenario:

Below 154.20 look for further downside with 154.00 & 153.80 as targets.

Comment:

The RSI calls for a rebound.

EURUSD

EUR/USD Intraday: the bias remains bullish.

Pivot:1.1600

Our preference:

Long positions above 1.1600 with targets at 1.1655 & 1.1675 in extension.

Alternative scenario:

Below 1.1600 look for further downside with 1.1580 & 1.1560 as targets.

Comment:

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

GBPUSD

GBP/USD Intraday: turning down.

Pivot:1.3200

Our preference:

Short positions below 1.3200 with targets at 1.3135 & 1.3105 in extension.

Alternative scenario:

Above 1.3200 look for further upside with 1.3225 & 1.3250 as targets.

Comment:

The RSI calls for a slump.

GOLD

Gold Intraday: key resistance at 4210.

Pivot:4210

Our preference:

Short positions below 4210 with targets at 4145 & 4120 in extension.

Alternative scenario:

Above 4210 look for further upside with 4245 & 4265 as targets.

Comment:

Even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (Z5)‎ Intraday: towards 59.45.

Pivot:58.50

Our preference:

Long positions above 58.50 with targets at 59.20 & 59.45 in extension.

Alternative scenario:

Below 58.50 look for further downside with 58.05 & 57.75 as targets.

Comment:

The RSI has just landed on its neutrality area at 50% and is turning up.

NASDAQ 100 (CME)

Nasdaq 100 (CME)‎ (Z5)‎ Intraday: look for 24950.

Pivot:25225

Our preference:

Short positions below 25225 with targets at 24950 & 24850 in extension.

Alternative scenario:

Above 25225 look for further upside with 25340 & 25500 as targets.

Comment:

As long as 25225 is resistance, likely decline to 24950.

S&P 500 (CME)

S&P 500 (CME)‎ (Z5)‎ Intraday: the downside prevails.

Pivot:6800

Our preference:

Short positions below 6800 with targets at 6735 & 6700 in extension.

Alternative scenario:

Above 6800 look for further upside with 6830 & 6850 as targets.

Comment:

Investors have to remain cautious since these levels may trigger profit taking.

DOW JONES (CME)

Dow Jones (CME)‎ (Z5)‎ Intraday: under pressure.

Pivot:47870

Our preference:

Short positions below 47870 with targets at 47300 & 47050 in extension.

Alternative scenario:

Above 47870 look for further upside with 48100 & 48330 as targets.

Comment:

Investors have to remain cautious since these levels may trigger profit taking.