Key Market Insights

MARKET ANALYSIS

USDJPY

USD/JPY Intraday: the upside prevails.

Pivot:155.30

Our preference:

Long positions above 155.30 with targets at 156.05 & 156.50 in extension.

Alternative scenario:

Below 155.30 look for further downside with 154.90 & 154.55 as targets.

Comment:

The RSI calls for a bounce.

EURUSD

EUR/USD Intraday: the bias remains bullish.

Pivot:1.1785

Our preference:

Long positions above 1.1785 with targets at 1.1830 & 1.1855 in extension.

Alternative scenario:

Below 1.1785 look for further downside with 1.1760 & 1.1740 as targets.

Comment:

Technically the RSI is above its neutrality area at 50.

GBPUSD

GBP/USD Intraday: bullish bias above 1.3650.

Pivot:1.3650

Our preference:

Long positions above 1.3650 with targets at 1.3720 & 1.3750 in extension.

Alternative scenario:

Below 1.3650 look for further downside with 1.3620 & 1.3590 as targets.

Comment:

The RSI is above its neutrality area at 50%.

GOLD

Gold Intraday: towards 5110.

Pivot:4850

Our preference:

Long positions above 4850 with targets at 5000 & 5110 in extension.

Alternative scenario:

Below 4850 look for further downside with 4745 & 4620 as targets.

Comment:

The RSI has just landed on its neutrality area at 50% and is turning up.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (H6)‎ Intraday: look for 65.90.

Pivot:62.90

Our preference:

Long positions above 62.90 with targets at 64.90 & 65.90 in extension.

Alternative scenario:

Below 62.90 look for further downside with 62.10 & 61.10 as targets.

Comment:

The RSI is bullish and calls for further upside.

NASDAQ 100

Nasdaq 100 (CME)‎ (H6)‎ Intraday: the downside prevails.

Pivot:25550

Our preference:

Short positions below 25550 with targets at 25180 & 25020 in extension.

Alternative scenario:

Above 25550 look for further upside with 25690 & 25820 as targets.

Comment:

The RSI is below its neutrality area at 50%

S&P 500

S&P 500 (CME)‎ (H6)‎ Intraday: key resistance at 6970.

Pivot:6970

Our preference:

Short positions below 6970 with targets at 6870 & 6850 in extension.

Alternative scenario:

Above 6970 look for further upside with 7000 & 7028 as targets.

Comment:

The RSI is below its neutrality area at 50%

DOW JONES

Dow Jones (CME)‎ (H6)‎ Intraday: caution.

Pivot:49470

Our preference:

Short positions below 49470 with targets at 49050 & 48850 in extension.

Alternative scenario:

Above 49470 look for further upside with 49600 & 49800 as targets.

Comment:

The upward potential is likely to be limited by the resistance at 49470.