Divergence: Long Yen & Indices / Short Euro, Pound, Oil & Gold

MARKET ANALYSIS

USDJPY

USD/JPY intraday : The upside prevails as long as 157.06 is support

Our pivot point is at 157.06.

Our preference:

The upside prevails as long as 157.06 is support, with 157.70 and 157.87 as targets

Alternative scenario:

Below 157.06, expect 156.78 and 156.62.

Comment:

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. The price is above its 20 and 50 period moving average (respectively at 156.97 and 156.83).

EURUSD

EUR/USD intraday : Decline at a crossroads

Our pivot point is at 1.1549.

Our preference:

Target 1.1480

Alternative scenario:

Above 1.1549, look for 1.1572 and 1.1585.

Comment:

With prices nearing our first target, a pullback may emerge, though a clean break below could accelerate the downside.

GBPUSD

GBP/USD intraday : Rebound or deeper decline ahead？

Our pivot point is at 1.3486.

Our preference:

The downside prevails as long as 1.3486 is resistance, with 1.3416 and 1.3396 as targets

Alternative scenario:

Above 1.3486, look for 1.3519 and 1.3538.

Comment:

Prices are now edging toward our first target. Should this level be reached, a pullback is likely to surface; yet a convincing break below it could open the door to further losses.

CRUDE OIL

Crude Oil (WTI)‎ (U6)‎ intraday: the downside prevails.

Pivot:

81.30

Our preference:

Short positions below 81.30 with targets at 78.80 & 77.80 in extension.

Alternative scenario:

Above 81.30 look for further upside with 82.10 & 83.10 as targets.

Comment:

The RSI lacks upward momentum.

GOLD

Gold intraday : Expect 4,011

Our pivot point is at 4,093.

Our preference:

The downside prevails as long as 4,093 is resistance, with 4,011 and 3,989 as targets

Alternative scenario:

Above 4,093, look for 4,130 and 4,152.

Comment:

The price stands above its 20 period moving average (4,044) but below its 50 period moving average (4,053).

DOW JONES

Dow Jones (CME)‎ (U6)‎ intraday: further upside.

Pivot:

52950

Our preference:

Long positions above 52950 with targets at 53700 & 53950 in extension.

Alternative scenario:

Below 52950 look for further downside with 52730 & 52440 as targets.

Comment:

The RSI calls for a bounce.

NASDAQ 100

Nasdaq 100 (CME)‎ (U6)‎ intraday: towards 29330.

Pivot:

28630

Our preference:

Long positions above 28630 with targets at 29070 & 29330 in extension.

Alternative scenario:

Below 28630 look for further downside with 28380 & 28080 as targets.

Comment:

The RSI is bullish and calls for further upside.

S&P 500

S&P 500 (CME)‎ (U6)‎ intraday: the upside prevails.

Pivot:

7543

Our preference:

Long positions above 7543 with targets at 7690 & 7750 in extension.

Alternative scenario:

Below 7543 look for further downside with 7507 & 7474 as targets.

Comment:

The RSI is bullish and calls for further advance.