FX & Commodities Up; Equities Under Pressure

MARKET ANALYSIS

GBPUSD

GBP/USD intraday : Watching for a Trigger Above Resistance

Our pivot point is at 1.3572.

Our preference:

The upside prevails as long as 1.3572 is support, with 1.3660 and 1.3679 as targets

Alternative scenario:

Below 1.3572, expect 1.3540 and 1.3521.

Comment:

As prices near our first target, a throwback could occur, though a clean break above could fuel further gains.

USDJPY

USD/JPY intraday : As long as 158.62 is support, look for 159.54

Our pivot point is at 158.62.

Our preference:

As long as 158.62 is support, look for 159.54

Alternative scenario:

Below 158.62, expect 158.29 and 158.10.

Comment:

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The price could retrace. The price is below its 20 period moving average (158.99) but above its 50 period moving average (158.67).

EURUSD

EUR/USD intraday : The upside prevails as long as 1.1668 is support

Our pivot point is at 1.1668.

Our preference:

The upside prevails as long as 1.1668 is support, with 1.1711 and 1.1723 as targets

Alternative scenario:

Below 1.1668, expect 1.1649 and 1.1638.

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 1.1678 and 1.1682).

CRUDE OIL

Crude Oil (WTI)‎ (V6)‎ intraday: intraday support around 85.50.

Pivot:85.50

Our preference:

Long positions above 85.50 with targets at 87.65 & 88.40 in extension.

Alternative scenario:

Below 85.50 look for further downside with 83.90 & 83.15 as targets.

Comment:

The RSI lacks downward momentum.

GOLD

Gold intraday : Gains at stake near target

Our pivot point is at 4,464.

Our preference:

The upside prevails as long as 4,464 is support, with 4,560 and 4,582 as targets

Alternative scenario:

Below 4,464, expect 4,427 and 4,405.

Comment:

The approach toward our first target is a key moment to watch, it may trigger a throwback, yet a firm close above this threshold could provide the momentum needed to push the asset price higher.

DOW JONES

Dow Jones (CME)‎ (U6)‎ intraday: towards 52530.

Pivot:53230

Our preference:

Short positions below 53230 with targets at 52770 & 52530 in extension.

Alternative scenario:

Above 53230 look for further upside with 53480 & 53780 as targets.

Comment:

The RSI is bearish and calls for further downside.

NASDAQ 100

Nasdaq 100 (CME)‎ (U6)‎ intraday: target 28980.

Pivot:29580

Our preference:

Short positions below 29580 with targets at 29200 & 28980 in extension.

Alternative scenario:

Above 29580 look for further upside with 29760 & 29930 as targets.

Comment:

The RSI is mixed with a bearish bias.

S&P 500

S&P 500 (CME)‎ (U6)‎ intraday: expect 7617.

Pivot:7710

Our preference:

Short positions below 7710 with targets at 7650 & 7617 in extension.

Alternative scenario:

Above 7710 look for further upside with 7733 & 7765 as targets.

Comment:

The RSI shows downside momentum.