Today's Financial Markets: Summary & Insights

Market Analysis

USDJPY

USD/JPY Intraday: bullish bias above 156.85.

Pivot:

156.85

Our preference:

Long positions above 156.85 with targets at 157.90 & 158.30 in extension.

Alternative scenario:

Below 156.85 look for further downside with 156.25 & 155.70 as targets.

Comment:

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

EURUSD

EUR/USD Intraday: the downside prevails.

Pivot:

1.1550

Our preference:

Short positions below 1.1550 with targets at 1.1505 & 1.1485 in extension.

Alternative scenario:

Above 1.1550 look for further upside with 1.1570 & 1.1590 as targets.

Comment:

As long as the resistance at 1.1550 is not surpassed, the risk of the break below 1.1505 remains high.

GBPUSD

GBP/USD Intraday: choppy.

Pivot:

1.3110

Our preference:

Short positions below 1.3110 with targets at 1.3040 & 1.3020 in extension.

Alternative scenario:

Above 1.3110 look for further upside with 1.3130 & 1.3155 as targets.

Comment:

The RSI is mixed with a bearish bias.

CRUDE OIL (CTI)

Crude Oil (WTI)‎ (F6)‎ Intraday: under pressure.

Pivot:

59.30

Our preference:

Short positions below 59.30 with targets at 58.10 & 57.50 in extension.

Alternative scenario:

Above 59.30 look for further upside with 59.60 & 60.05 as targets.

Comment:

The RSI shows downside momentum.

GOLD

Gold Intraday: range.

Pivot:

4110

Our preference:

Short positions below 4110 with targets at 4045 & 4030 in extension.

Alternative scenario:

Above 4110 look for further upside with 4130 & 4145 as targets.

Comment:

As long as 4110 is resistance, look for choppy price action with a bearish bias.

Dow Jones (CME)

Dow Jones (CME)‎ (Z5)‎ Intraday: expect 45380.

Pivot:

46110

Our preference:

Short positions below 46110 with targets at 45650 & 45380 in extension.

Alternative scenario:

Above 46110 look for further upside with 46275 & 46540 as targets.

Comment:

The RSI is bearish and calls for further decline.

Nasdaq 100 (CME

Nasdaq 100 (CME)‎ (Z5)‎ Intraday: under pressure.

Pivot:

24470

Our preference:

Short positions below 24470 with targets at 23780 & 23540 in extension.

Alternative scenario:

Above 24470 look for further upside with 24780 & 25030 as targets.

Comment:

As long as 24470 is resistance, likely decline to 23780.

S&P 500 (CME)‎ (Z5)‎

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

Pivot:

6625

Our preference:

Short positions below 6625 with targets at 6505 & 6480 in extension.

Alternative scenario:

Above 6625 look for further upside with 6665 & 6695 as targets.

Comment:

A break below 6505 would trigger a drop towards 6480.