Two clear trends. USDJPY & Oil climb – the rest? Watch the breakdowns.

MARKET ANALYSIS

USDJPY

USD/JPY Intraday: further advance.

Pivot:

156.30

Our preference:

Long positions above 156.30 with targets at 157.30 & 157.65 in extension.

Alternative scenario:

Below 156.30 look for further downside with 155.95 & 155.55 as targets.

Comment:

The RSI advocates for further upside.

EURUSD

EUR/USD Intraday: target 1.1700.

Pivot:

1.1760

Our preference:

Short positions below 1.1760 with targets at 1.1700 & 1.1675 in extension.

Alternative scenario:

Above 1.1760 look for further upside with 1.1780 & 1.1795 as targets.

Comment:

The RSI shows downside momentum.

GBPUSD

GBP/USD Intraday: towards 1.3505.

Pivot:

1.3605

Our preference:

Short positions below 1.3605 with targets at 1.3505 & 1.3475 in extension.

Alternative scenario:

Above 1.3605 look for further upside with 1.3635 & 1.3660 as targets.

Comment:

The RSI has broken down its 30 level.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (M6)‎ Intraday: bounce.

Pivot:

93.70

Our preference:

Long positions above 93.70 with targets at 99.00 & 101.40 in extension.

Alternative scenario:

Below 93.70 look for further downside with 91.90 & 89.80 as targets.

Comment:

The RSI calls for a rebound.

GOLD

Gold Intraday: consolidation in place.

Pivot:

4730

Our preference:

Short positions below 4730 with targets at 4660 & 4625 in extension.

Alternative scenario:

Above 4730 look for further upside with 4765 & 4800 as targets.

Comment:

The RSI is mixed with a bearish bias.

DOW JONES

Dow Jones (CME)‎ (M6)‎ Intraday: target 49220.

Pivot:

49990

Our preference:

Short positions below 49990 with targets at 49460 & 49220 in extension.

Alternative scenario:

Above 49990 look for further upside with 50170 & 50300 as targets.

Comment:

The RSI is below its neutrality area at 50%

NASDAQ 100

Nasdaq 100 (CME)‎ (M6)‎ Intraday: consolidation in place.

Pivot:

28810

Our preference:

Short positions below 28810 with targets at 28530 & 28375 in extension.

Alternative scenario:

Above 28810 look for further upside with 28940 & 29100 as targets.

Comment:

Technically the RSI is below its neutrality area at 50.

S&P 500

S&P 500 (CME)‎ (M6)‎ Intraday: consolidation in place.

Pivot:

7385

Our preference:

Short positions below 7385 with targets at 7330 & 7315 in extension.

Alternative scenario:

Above 7385 look for further upside with 7410 & 7430 as targets.

Comment:

The RSI is below its neutrality area at 50%