Six bulls, two bears (Yen and Oil) – the rest are thriving.

MARKET ANALYSIS

GBPUSD

GBP/USD intraday: the upside prevails.

Pivot:

1.3470

Our preference:

Long positions above 1.3470 with targets at 1.3510 & 1.3530 in extension.

Alternative scenario:

Below 1.3470 look for further downside with 1.3450 & 1.3425 as targets.

Comment:

The next resistances are at 1.3510 and then at 1.3530.

USDJPY

USD/JPY intraday: key resistance at 159.10.

Pivot:

159.10

Our preference:

Short positions below 159.10 with targets at 158.75 & 158.60 in extension.

Alternative scenario:

Above 159.10 look for further upside with 159.25 & 159.40 as targets.

Comment:

As long as the resistance at 159.10 is not surpassed, the risk of the break below 158.75 remains high.

EURUSD

EUR/USD intraday: bullish bias above 1.1615.

Pivot:

1.1615

Our preference:

Long positions above 1.1615 with targets at 1.1655 & 1.1670 in extension.

Alternative scenario:

Below 1.1615 look for further downside with 1.1600 & 1.1585 as targets.

Comment:

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

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (N6)‎ intraday: key resistance at 92.55.

Pivot:

92.55

Our preference:

Short positions below 92.55 with targets at 89.00 & 86.80 in extension.

Alternative scenario:

Above 92.55 look for further upside with 93.85 & 95.70 as targets.

Comment:

As long as 92.55 is resistance, likely decline to 89.00.

GOLD

Gold intraday: intraday support around 4552.

Pivot:

4552

Our preference:

Long positions above 4552 with targets at 4589 & 4620 in extension.

Alternative scenario:

Below 4552 look for further downside with 4530 & 4510 as targets.

Comment:

Technically the RSI is above its neutrality area at 50.

S&P 500

S&P 500 (CME)‎ (M6)‎ intraday: bullish bias above 7524.

Pivot:

7524

Our preference:

Long positions above 7524 with targets at 7585 & 7620 in extension.

Alternative scenario:

Below 7524 look for further downside with 7500 & 7470 as targets.

Comment:

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

NASDAQ 100

Nasdaq 100 (CME)‎ (M6)‎ intraday: the bias remains bullish.

Pivot:

29750

Our preference:

Long positions above 29750 with targets at 30100 & 30300 in extension.

Alternative scenario:

Below 29750 look for further downside with 29600 & 29450 as targets.

Comment:

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

DOW JONES 500

Dow Jones (CME)‎ (M6)‎ intraday: bullish bias above 50900.

Pivot:

50900

Our preference:

Long positions above 50900 with targets at 51400 & 51700 in extension.

Alternative scenario:

Below 50900 look for further downside with 50600 & 50440 as targets.

Comment:

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