Final Week: Closing Strong

MARKET ANALYSIS

USDJPY

USD/JPY Intraday: 161.00 in sight.

Pivot:159.90

Our preference:

Long positions above 159.90 with targets at 160.70 & 161.00 in extension.

Alternative scenario:

Below 159.90 look for further downside with 159.60 & 159.30 as targets.

Comment:

The RSI advocates for further upside.

EURUSD

EUR/USD Intraday: under pressure.

Pivot:1.1520

Our preference:

Short positions below 1.1520 with targets at 1.1470 & 1.1450 in extension.

Alternative scenario:

Above 1.1520 look for further upside with 1.1540 & 1.1560 as targets.

Comment:

The RSI is bearish and calls for further downside.

GBPUSD

GBP/USD Intraday: the downside prevails.

Pivot:1.3300

Our preference:

Short positions below 1.3300 with targets at 1.3210 & 1.3170 in extension.

Alternative scenario:

Above 1.3300 look for further upside with 1.3330 & 1.3370 as targets.

Comment:

The RSI calls for a new downleg.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (K6)‎ Intraday: the upside prevails.

Pivot:99.00

Our preference:

Long positions above 99.00 with targets at 104.00 & 107.00 in extension.

Alternative scenario:

Below 99.00 look for further downside with 97.00 & 95.40 as targets.

Comment:

The RSI shows upside momentum.

GOLD

Gold Intraday: consolidation in place.

Pivot:4530

Our preference:

Short positions below 4530 with targets at 4410 & 4380 in extension.

Alternative scenario:

Above 4530 look for further upside with 4555 & 4600 as targets.

Comment:

The RSI advocates for further decline.

DOW JONES

Dow Jones (CME)‎ (M6)‎ Intraday: the downside prevails.

Pivot:45700

Our preference:

Short positions below 45700 with targets at 44690 & 44360 in extension.

Alternative scenario:

Above 45700 look for further upside with 46000 & 46210 as targets.

Comment:

The RSI has broken down its 30 level.

NASDAQ 100

Nasdaq 100 (CME)‎ (M6)‎ Intraday: watch 22910.

Pivot:23440

Our preference:

Short positions below 23440 with targets at 22910 & 22730 in extension.

Alternative scenario:

Above 23440 look for further upside with 23570 & 23760 as targets.

Comment:

The RSI has broken down its 30 level.

S&P 500

S&P 500 (CME)‎ (M6)‎ Intraday: the downside prevails.

Pivot:6450

Our preference:

Short positions below 6450 with targets at 6320 & 6260 in extension.

Alternative scenario:

Above 6450 look for further upside with 6490 & 6520 as targets.

Comment:

The RSI has broken down its 30 level.