A perfect green day. USDJPY, Gold, Oil, Indices – all climbing together.

MARKET ANALYSIS

USDJPY

USD/JPY Intraday: rebound expected.

Pivot:155.95

Our preference:

Long positions above 155.95 with targets at 156.75 & 157.20 in extension.

Alternative scenario:

Below 155.95 look for further downside with 155.55 & 155.00 as targets.

Comment:

The RSI calls for a rebound.

EURUSD

EUR/USD Intraday: bullish bias above 1.1730.

Pivot:1.1730

Our preference:

Long positions above 1.1730 with targets at 1.1765 & 1.1780 in extension.

Alternative scenario:

Below 1.1730 look for further downside with 1.1715 & 1.1700 as targets.

Comment:

A support base at 1.1730 has formed and has allowed for a temporary stabilisation.

GBPUSD

GBP/USD Intraday: bullish bias above 1.3565.

Pivot:1.3565

Our preference:

Long positions above 1.3565 with targets at 1.3610 & 1.3625 in extension.

Alternative scenario:

Below 1.3565 look for further downside with 1.3550 & 1.3530 as targets.

Comment:

The RSI lacks downward momentum.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (M6)‎ Intraday: towards 99.00.

Pivot:92.90

Our preference:

Long positions above 92.90 with targets at 99.00 & 101.35 in extension.

Alternative scenario:

Below 92.90 look for further downside with 89.80 & 87.60 as targets.

Comment:

The RSI calls for a rebound.

GOLD

Gold Intraday: bullish bias above 4665.

Pivot:4665

Our preference:

Long positions above 4665 with targets at 4720 & 4750 in extension.

Alternative scenario:

Below 4665 look for further downside with 4645 & 4625 as targets.

Comment:

Technically the RSI is above its neutrality area at 50.

DOW JONES

Dow Jones (CME)‎ (M6)‎ Intraday: bullish bias above 49830.

Pivot:49830

Our preference:

Long positions above 49830 with targets at 50130 & 50300 in extension.

Alternative scenario:

Below 49830 look for further downside with 49660 & 49475 as targets.

Comment:

The RSI is above its neutrality area at 50%.

NASDAQ 100

Nasdaq 100 (CME)‎ (M6)‎ Intraday: intraday support around 28590.

Pivot:28590

Our preference:

Long positions above 28590 with targets at 29000 & 29110 in extension.

Alternative scenario:

Below 28590 look for further downside with 28375 & 28250 as targets.

Comment:

Investors have to remain cautious since these levels may trigger profit taking.

S&P 500

S&P 500 (CME)‎ (M6)‎ Intraday: intraday support around 7360.

Pivot:7360

Our preference:

Long positions above 7360 with targets at 7430 & 7450 in extension.

Alternative scenario:

Below 7360 look for further downside with 7330 & 7315 as targets.

Comment:

Investors have to remain cautious since these levels may trigger profit taking.