Most markets opened higher this morning, led by the Euro, Pound, Gold, and Indices.

MARKET ANALYSIS

USDJPY

USD/JPY intraday: watch 158.80.

Pivot:159.20

Our preference:

Short positions below 159.20 with targets at 158.80 & 158.65 in extension.

Alternative scenario:

Above 159.20 look for further upside with 159.35 & 159.50 as targets.

Comment:

A break below 158.80 would trigger a drop towards 158.65.

EURUSD

EUR/USD intraday: target 1.1665.

Pivot:1.1605

Our preference:

Long positions above 1.1605 with targets at 1.1665 & 1.1685 in extension.

Alternative scenario:

Below 1.1605 look for further downside with 1.1580 & 1.1560 as targets.

Comment:

The RSI calls for a new upleg.

GBPUSD

GBP/USD intraday: towards 1.3500.

Pivot:1.3440

Our preference:

Long positions above 1.3440 with targets at 1.3500 & 1.3525 in extension.

Alternative scenario:

Below 1.3440 look for further downside with 1.3415 & 1.3390 as targets.

Comment:

The next resistances are at 1.3500 and then at 1.3525.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (N6)‎ intraday: under pressure.

Pivot:95.70

Our preference:

Short positions below 95.70 with targets at 90.20 & 86.80 in extension.

Alternative scenario:

Above 95.70 look for further upside with 97.80 & 99.40 as targets.

Comment:

The RSI has broken down its 30 level.

GOLD

Gold intraday: further advance.

Pivot:4530

Our preference:

Long positions above 4530 with targets at 4600 & 4625 in extension.

Alternative scenario:

Below 4530 look for further downside with 4510 & 4490 as targets.

Comment:

The RSI is bullish and calls for further upside.

DOW JONES

Dow Jones (CME)‎ (M6)‎ intraday: further advance.

Pivot:50610

Our preference:

Long positions above 50610 with targets at 51040 & 51400 in extension.

Alternative scenario:

Below 50610 look for further downside with 50440 & 50240 as targets.

Comment:

The RSI is bullish and calls for further upside.

NASDAQ 100

Nasdaq 100 (CME)‎ (M6)‎ intraday: the upside prevails.

Pivot:29500

Our preference:

Long positions above 29500 with targets at 30100 & 30300 in extension.

Alternative scenario:

Below 29500 look for further downside with 29390 & 29290 as targets.

Comment:

The RSI shows upside momentum.

S&P 500

S&P 500 (CME)‎ (M6)‎ intraday: further upside.

Pivot:7482

Our preference:

Long positions above 7482 with targets at 7585 & 7620 in extension.

Alternative scenario:

Below 7482 look for further downside with 7457 & 7435 as targets.

Comment:

The RSI advocates for further upside.