Pivots in Focus: USDJPY/Gold/Stocks Up; EUR/GBP/Oil Down

MARKET ANALYSIS

USDJPY

USD/JPY intraday : Pivot threshold in sight

Our pivot point is at 159.07.

Our preference:

The upside prevails as long as 159.07 is support, with 159.84 and 160.04 as targets

Alternative scenario:

Below 159.07, expect 158.73 and 158.53.

Comment:

Price is almost testing our pivot level; this may be the last chance for a reversal.

EURUSD

EUR/USD intraday : Pivot threshold in sight

Our pivot point is at 1.1685.

Our preference:

The downside prevails as long as 1.1685 is resistance, with 1.1634 and 1.1621 as targets

Alternative scenario:

Above 1.1685, look for 1.1707 and 1.1720.

Comment:

The asset's price is approaching our pivot level at a critical juncture, leaving little room for the asset to reverse its current trajectory.

GBPUSD

GBP/USD intraday : Risk escalating

Our pivot point is at 1.3657.

Our preference:

The downside prevails as long as 1.3657 is resistance, with 1.3580 and 1.3561 as targets

Alternative scenario:

Above 1.3657, look for 1.3690 and 1.3709.

Comment:

Price is almost testing our pivot level; this may be the last chance for a reversal.

CRUDE OIL

Crude Oil (WTI)‎ (V6)‎ intraday: target 78.30.

Pivot:

82.65

Our preference:

Short positions below 82.65 with targets at 79.35 & 78.30 in extension.

Alternative scenario:

Above 82.65 look for further upside with 83.90 & 84.70 as targets.

Comment:

The RSI shows downside momentum.

GOLD

Gold intraday : The upside prevails as long as 4,619 is support

Our pivot point is at 4,619.

Our preference:

The upside prevails as long as 4,619 is support, with 4,736 and 4,767 as targets

Alternative scenario:

Below 4,619, expect 4,567 and 4,536.

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 4,651 and 4,647).

DOW JONES

Dow Jones (CME)‎ (U6)‎ intraday: intraday support around 53200.

Pivot:

53200

Our preference:

Long positions above 53200 with targets at 53780 & 54080 in extension.

Alternative scenario:

Below 53200 look for further downside with 53030 & 52810 as targets.

Comment:

The RSI is mixed with a bullish bias.

NASDAQ 100

Nasdaq 100 (CME)‎ (U6)‎ intraday: choppy.

Pivot:

29120

Our preference:

Long positions above 29120 with targets at 29420 & 29540 in extension.

Alternative scenario:

Below 29120 look for further downside with 29000 & 28947 as targets.

Comment:

The RSI is mixed with a bullish bias.

S&P 500

S&P 500 (CME)‎ (U6)‎ intraday: range.

Pivot:

7656

Our preference:

Long positions above 7656 with targets at 7718 & 7739 in extension.

Alternative scenario:

Below 7656 look for further downside with 7630 & 7615 as targets.

Comment:

The RSI is mixed with a bullish bias.