Wrapping the Week with Market Insight

MARKET ANALYSIS

USDJPY

USD/JPY Intraday: the bias remains bullish.

Pivot:156.65

Our preference:

Long positions above 156.65 with targets at 157.05 & 157.25 in extension.

Alternative scenario:

Below 156.65 look for further downside with 156.45 & 156.25 as targets.

Comment:

Technically the RSI is above its neutrality area at 50.

EURUSD

EUR/USD Intraday: the downside prevails.

Pivot:1.1675

Our preference:

Short positions below 1.1675 with targets at 1.1640 & 1.1625 in extension.

Alternative scenario:

Above 1.1675 look for further upside with 1.1690 & 1.1705 as targets.

Comment:

The RSI is below its neutrality area at 50%

GBPUSD

GBP/USD Intraday: key resistance at 1.3450.

Pivot:1.3450

Our preference:

Short positions below 1.3450 with targets at 1.3415 & 1.3400 in extension.

Alternative scenario:

Above 1.3450 look for further upside with 1.3465 & 1.3485 as targets.

Comment:

As long as 1.3450 is resistance, look for choppy price action with a bearish bias.

GOLD

Gold Intraday: towards 4515.

Pivot:4445

Our preference:

Long positions above 4445 with targets at 4500 & 4515 in extension.

Alternative scenario:

Below 4445 look for further downside with 4435 & 4415 as targets.

Comment:

The next resistances are at 4500 and then at 4515.

CRUDE OIL

Crude Oil (WTI)‎ (G6)‎ Intraday: intraday support around 57.85.

Pivot:57.85

Our preference:

Long positions above 57.85 with targets at 59.15 & 59.60 in extension.

Alternative scenario:

Below 57.85 look for further downside with 57.15 & 56.75 as targets.

Comment:

The RSI shows upside momentum.

NASDAQ 100

Nasdaq 100 (CME)‎ (H6)‎ Intraday: caution.

Pivot:25740

Our preference:

Short positions below 25740 with targets at 25590 & 25530 in extension.

Alternative scenario:

Above 25740 look for further upside with 25840 & 26000 as targets.

Comment:

Intraday technical indicators are mixed and call for caution.

S&P 500

S&P 500 (CME)‎ (H6)‎ Intraday: caution.

Pivot:6980

Our preference:

Short positions below 6980 with targets at 6949 & 6935 in extension.

Alternative scenario:

Above 6980 look for further upside with 7005 & 7030 as targets.

Comment:

Intraday technical indicators are mixed and call for caution.

DOW JONES

Dow Jones (CME)‎ (H6)‎ Intraday: expect 49830.

Pivot:49450

Our preference:

Long positions above 49450 with targets at 49640 & 49830 in extension.

Alternative scenario:

Below 49450 look for further downside with 49260 & 49150 as targets.

Comment:

The RSI is bullish and calls for further advance.