Thriving Thursday: Insights to Keep You Growing

MARKET ANALYSIS

USDJPY

USD/JPY Intraday: the downside prevails.

Pivot:

156.85

Our preference:

Short positions below 156.85 with targets at 155.45 & 155.00 in extension.

Alternative scenario:

Above 156.85 look for further upside with 157.20 & 157.55 as targets.

Comment:

As long as 156.85 is resistance, expect a return to 155.45.

EURUSD

EUR/USD Intraday: further upside.

Pivot:

1.1655

Our preference:

Long positions above 1.1655 with targets at 1.1720 & 1.1740 in extension.

Alternative scenario:

Below 1.1655 look for further downside with 1.1635 & 1.1615 as targets.

Comment:

The break above 1.1655 is a positive signal that has opened a path to 1.1720.

GBPUSD

GBP/USD Intraday: further advance.

Pivot:

1.3330

Our preference:

Long positions above 1.3330 with targets at 1.3410 & 1.3435 in extension.

Alternative scenario:

Below 1.3330 look for further downside with 1.3305 & 1.3280 as targets.

Comment:

The RSI is bullish and calls for further upside.

GOLD

Gold Intraday: towards 4265.

Pivot:

4200

Our preference:

Long positions above 4200 with targets at 4246 & 4265 in extension.

Alternative scenario:

Below 4200 look for further downside with 4188 & 4176 as targets.

Comment:

The RSI shows upside momentum.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (F6)‎ Intraday: continuation of the rebound.

Pivot:

58.45

Our preference:

Long positions above 58.45 with targets at 59.15 & 59.60 in extension.

Alternative scenario:

Below 58.45 look for further downside with 58.10 & 57.75 as targets.

Comment:

The RSI is bullish and calls for further upside.

S&P 500 (CME)

S&P 500 (CME)‎ (Z5)‎ Intraday: the bias remains bullish.

Pivot:

6872

Our preference:

Long positions above 6872 with targets at 6915 & 6930 in extension.

Alternative scenario:

Below 6872 look for further downside with 6856 & 6836 as targets.

Comment:

The break above 6872 is a positive signal that has opened a path to 6915.

NASDAQ 100 (CME)

Nasdaq 100 (CME)‎ (Z5)‎ Intraday: bullish bias above 25680.

Pivot:

25680

Our preference:

Long positions above 25680 with targets at 25860 & 25915 in extension.

Alternative scenario:

Below 25680 look for further downside with 25600 & 25530 as targets.

Comment:

The RSI is above its neutrality area at 50%.

DOW JONES

Dow Jones (CME)‎ (Z5)‎ Intraday: the upside prevails.

Pivot:

47940

Our preference:

Long positions above 47940 with targets at 48320 & 48520 in extension.

Alternative scenario:

Below 47940 look for further downside with 47760 & 47660 as targets.

Comment:

The break above 47940 is a positive signal that has opened a path to 48320.