Forex & Global Markets Daily Insight

Market Analysis

USDJPY

USD/JPY Intraday: continuation of the rebound.

Pivot:

156.50

Our preference:

Long positions above 156.50 with targets at 157.15 & 157.50 in extension.

Alternative scenario:

Below 156.50 look for further downside with 156.20 & 155.90 as targets.

Comment:

The RSI is mixed with a bullish bias.

EURUSD

EUR/USD Intraday: bullish bias above 1.1500.

Pivot:

1.1500

Our preference:

Long positions above 1.1500 with targets at 1.1550 & 1.1565 in extension.

Alternative scenario:

Below 1.1500 look for further downside with 1.1485 & 1.1470 as targets.

Comment:

A support base at 1.1500 has formed and has allowed for a temporary stabilisation.

GBPUSD

GBP/USD Intraday: the upside prevails.

Pivot:

1.3075

Our preference:

Long positions above 1.3075 with targets at 1.3125 & 1.3150 in extension.

Alternative scenario:

Below 1.3075 look for further downside with 1.3055 & 1.3035 as targets.

Comment:

The RSI lacks downward momentum.

GOLD

Gold Intraday: the upside prevails.

Pivot:

4094

Our preference:

Long positions above 4094 with targets at 4155 & 4185 in extension.

Alternative scenario:

Below 4094 look for further downside with 4068 & 4040 as targets.

Comment:

The RSI shows upside momentum.

Crude Oil (WTI)‎

Crude Oil (WTI)‎ (F6)‎ Intraday: further upside.

Pivot:

58.20

Our preference:

Long positions above 58.20 with targets at 59.50 & 60.10 in extension.

Alternative scenario:

Below 58.20 look for further downside with 57.80 & 57.40 as targets.

Comment:

The RSI is bullish and calls for further upside.

Nasdaq 100 (CME)‎

Nasdaq 100 (CME)‎ (Z5)‎ Intraday: further upside.

Pivot:

24590

Our preference:

Long positions above 24590 with targets at 25300 & 25500 in extension.

Alternative scenario:

Below 24590 look for further downside with 24370 & 24220 as targets.

Comment:

The RSI shows upside momentum.

S&P 500 (CME)

S&P 500 (CME)‎ (Z5)‎ Intraday: towards 6790.

Pivot:

6665

Our preference:

Long positions above 6665 with targets at 6755 & 6790 in extension.

Alternative scenario:

Below 6665 look for further downside with 6605 & 6525 as targets.

Comment:

The RSI advocates for further advance.

DOW JONES (CME)

Dow Jones (CME)‎ (Z5)‎ Intraday: the bias remains bullish.

Pivot:

46230

Our preference:

Long positions above 46230 with targets at 46930 & 47070 in extension.

Alternative scenario:

Below 46230 look for further downside with 46050 & 45820 as targets.

Comment:

Technically the RSI is above its neutrality area at 50.