Key Economic Indicators: What to Watch Today

Market Analysis

GBPUSD

GBP/USD Intraday: the bias remains bullish.

Pivot:1.3285

Our preference:

Long positions above 1.3285 with targets at 1.3350 & 1.3370 in extension.

Alternative scenario:

Below 1.3285 look for further downside with 1.3265 & 1.3245 as targets.

Comment:

The RSI calls for a bounce.

USDJPY

USD/JPY Intraday: watch 151.15.

Pivot:152.15

Our preference:

Short positions below 152.15 with targets at 151.45 & 151.15 in extension.

Alternative scenario:

Above 152.15 look for further upside with 152.40 & 152.60 as targets.

Comment:

The RSI advocates for further downside.

EURUSD

EUR/USD Intraday: the upside prevails.

Pivot:1.1575

Our preference:

Long positions above 1.1575 with targets at 1.1625 & 1.1645 in extension.

Alternative scenario:

Below 1.1575 look for further downside with 1.1555 & 1.1540 as targets.

Comment:

The RSI advocates for further advance.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (X5)‎ Intraday: key resistance at 59.20.

Pivot:59.20

Our preference:

Short positions below 59.20 with targets at 58.20 & 57.70 in extension.

Alternative scenario:

Above 59.20 look for further upside with 59.80 & 60.15 as targets.

Comment:

The RSI is mixed with a bearish bias.

GOLD

Gold Intraday: expect 4200.00.

Pivot:4125.00

Our preference:

Long positions above 4125.00 with targets at 4178.00 & 4200.00 in extension.

Alternative scenario:

Below 4125.00 look for further downside with 4090.00 & 4060.00 as targets.

Comment:

The RSI is bullish and calls for further upside.

DOW JONES

Dow Jones (CME)‎ (Z5)‎ Intraday: intraday support around 46190.00.

Pivot:46190.00

Our preference:

Long positions above 46190.00 with targets at 47030.00 & 47320.00 in extension.

Alternative scenario:

Below 46190.00 look for further downside with 45890.00 & 45660.00 as targets.

Comment:

The next resistances are at 47030.00 and then at 47320.00.

NASDAQ 100

Nasdaq 100 (CME)‎ (Z5)‎ Intraday: intraday support around 24540.00.

Pivot:24540.00

Our preference:

Long positions above 24540.00 with targets at 25170.00 & 25390.00 in extension.

Alternative scenario:

Below 24540.00 look for further downside with 24160.00 & 24000.00 as targets.

Comment:

The next resistances are at 25170.00 and then at 25390.00.

S&P 500

S&P 500 (CME)‎ (Z5)‎ Intraday: intraday support around 6665.00.

Pivot:6665.00

Our preference:

Long positions above 6665.00 with targets at 6762.00 & 6812.00 in extension.

Alternative scenario:

Below 6665.00 look for further downside with 6605.00 & 6540.00 as targets.

Comment:

The RSI is around its neutrality area at 50%