Weekly Market Close: Signals Over Stories

MARKET ANALYSIS

USDJPY

USD/JPY Intraday: the upside prevails.

Pivot:

156.35

Our preference:

Long positions above 156.35 with targets at 157.10 & 157.40 in extension.

Alternative scenario:

Below 156.35 look for further downside with 156.00 & 155.65 as targets.

Comment:

The RSI is bullish and calls for further advance.

EURUSD

EUR/USD Intraday: the downside prevails.

Pivot:

1.1825

Our preference:

Short positions below 1.1825 with targets at 1.1790 & 1.1775 in extension.

Alternative scenario:

Above 1.1825 look for further upside with 1.1840 & 1.1855 as targets.

Comment:

As long as the resistance at 1.1825 is not surpassed, the risk of the break below 1.1790 remains high.

GBPUSD

GBP/USD Intraday: under pressure.

Pivot:

1.3690

Our preference:

Short positions below 1.3690 with targets at 1.3620 & 1.3590 in extension.

Alternative scenario:

Above 1.3690 look for further upside with 1.3710 & 1.3730 as targets.

Comment:

The RSI calls for a new downleg.

GOLD

Gold Intraday: look for 5240.

Pivot:

4885

Our preference:

Long positions above 4885 with targets at 5090 & 5240 in extension.

Alternative scenario:

Below 4885 look for further downside with 4745 & 4620 as targets.

Comment:

The RSI calls for a new upleg.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (H6)‎ Intraday: rebound expected.

Pivot:

63.60

Our preference:

Long positions above 63.60 with targets at 65.20 & 65.90 in extension.

Alternative scenario:

Below 63.60 look for further downside with 62.90 & 62.10 as targets.

Comment:

The RSI is around its neutrality area at 50%

NASDAQ 100

Nasdaq 100 (CME)‎ (H6)‎ Intraday: under pressure.

Pivot:

25270

Our preference:

Short positions below 25270 with targets at 24885 & 24680 in extension.

Alternative scenario:

Above 25270 look for further upside with 25510 & 25690 as targets.

Comment:

The RSI is below its neutrality area at 50%

S&P 500

S&P 500 (CME)‎ (H6)‎ Intraday: 6870 expected.

Pivot:

6945

Our preference:

Short positions below 6945 with targets at 6870 & 6850 in extension.

Alternative scenario:

Above 6945 look for further upside with 6965 & 7000 as targets.

Comment:

The upward potential is likely to be limited by the resistance at 6945.

DOW JONES

Dow Jones (CME)‎ (H6)‎ Intraday: expect 49900.

Pivot:

49390

Our preference:

Long positions above 49390 with targets at 49900 & 50000 in extension.

Alternative scenario:

Below 49390 look for further downside with 49240 & 48930 as targets.

Comment:

The next resistances are at 49900 and then at 50000.