A New Week of Market Alignment

MARKET ANALYSIS

USDJPY

USD/JPY Intraday: the upside prevails.

Pivot:

156.95

Our preference:

Long positions above 156.95 with targets at 157.70 & 158.00 in extension.

Alternative scenario:

Below 156.95 look for further downside with 156.75 & 156.50 as targets.

Comment:

The RSI is bullish and calls for further advance.

EURUSD

EUR/USD Intraday: the bias remains bullish.

Pivot:

1.1785

Our preference:

Long positions above 1.1785 with targets at 1.1835 & 1.1855 in extension.

Alternative scenario:

Below 1.1785 look for further downside with 1.1765 & 1.1745 as targets.

Comment:

The RSI is above its neutrality area at 50%.

GBPUSD

GBP/USD Intraday: bullish bias above 1.3555.

Pivot:

1.3555

Our preference:

Long positions above 1.3555 with targets at 1.3625 & 1.3650 in extension.

Alternative scenario:

Below 1.3555 look for further downside with 1.3530 & 1.3505 as targets.

Comment:

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

GOLD

Gold Intraday: towards 5145.

Pivot:

4925

Our preference:

Long positions above 4925 with targets at 5090 & 5145 in extension.

Alternative scenario:

Below 4925 look for further downside with 4850 & 4800 as targets.

Comment:

The RSI shows upside momentum.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (H6)‎ Intraday: choppy.

Pivot:

63.85

Our preference:

Short positions below 63.85 with targets at 62.20 & 61.50 in extension.

Alternative scenario:

Above 63.85 look for further upside with 64.50 & 65.20 as targets.

Comment:

A break below 62.20 would trigger a drop towards 61.50.

DOW JONES

Dow Jones (CME)‎ (H6)‎ Intraday: the upside prevails.

Pivot:

49750

Our preference:

Long positions above 49750 with targets at 50600 & 51050 in extension.

Alternative scenario:

Below 49750 look for further downside with 49470 & 49200 as targets.

Comment:

The break above 49750 is a positive signal that has opened a path to 50600.

NASDAQ 100

Nasdaq 100 (CME)‎ (H6)‎ Intraday: continuation of the rebound.

Pivot:

24860

Our preference:

Long positions above 24860 with targets at 25510 & 25820 in extension.

Alternative scenario:

Below 24860 look for further downside with 24700 & 24430 as targets.

Comment:

The next resistances are at 25510 and then at 25820.

S&P 500

S&P 500 (CME)‎ (H6)‎ Intraday: further upside.

Pivot:

6915

Our preference:

Long positions above 6915 with targets at 7000 & 7035 in extension.

Alternative scenario:

Below 6915 look for further downside with 6868 & 6810 as targets.

Comment:

The RSI shows upside momentum.