Understanding Today's News

Market Analysis

GBPUSD

GBP/USD Intraday: the bias remains bullish.

Pivot:

1.3315

Our preference:

Long positions above 1.3315 with targets at 1.3360 & 1.3375 in extension.

Alternative scenario:

Below 1.3315 look for further downside with 1.3300 & 1.3285 as targets.

Comment:

The RSI calls for a bounce.

USDJPY

USD/JPY Intraday: consolidation.

Pivot:

153.05

Our preference:

Short positions below 153.05 with targets at 152.55 & 152.30 in extension.

Alternative scenario:

Above 153.05 look for further upside with 153.25 & 153.50 as targets.

Comment:

As long as 153.05 is resistance, look for choppy price action with a bearish bias.

EURUSD

EUR/USD Intraday: further advance.

Pivot:

1.1630

Our preference:

Long positions above 1.1630 with targets at 1.1665 & 1.1680 in extension.

Alternative scenario:

Below 1.1630 look for further downside with 1.1615 & 1.1600 as targets.

Comment:

The RSI is bullish and calls for further upside.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (Z5)‎ Intraday: consolidation.

Pivot:

62.05

Our preference:

Short positions below 62.05 with targets at 60.80 & 60.20 in extension.

Alternative scenario:

Above 62.05 look for further upside with 62.60 & 63.10 as targets.

Comment:

The RSI calls for a drop.

GOLD

Gold Intraday: the downside prevails.

Pivot:

4022.00

Our preference:

Short positions below 4022.00 with targets at 3956.00 & 3924.00 in extension.

Alternative scenario:

Above 4022.00 look for further upside with 4050.00 & 4084.00 as targets.

Comment:

The RSI is bearish and calls for further decline.

DOW JONES (CME)

Dow Jones (CME)‎ (Z5)‎ Intraday: further upside.

Pivot:

47585.00

Our preference:

Long positions above 47585.00 with targets at 47950.00 & 48050.00 in extension.

Alternative scenario:

Below 47585.00 look for further downside with 47490.00 & 47370.00 as targets.

Comment:

The next resistances are at 47950.00 and then at 48050.00.

NASDAQ 100 (CME)

Nasdaq 100 (CME)‎ (Z5)‎ Intraday: towards 26250.00.

Pivot:

25815.00

Our preference:

Long positions above 25815.00 with targets at 26110.00 & 26250.00 in extension.

Alternative scenario:

Below 25815.00 look for further downside with 25710.00 & 25560.00 as targets.

Comment:

The RSI shows upside momentum.

S&P 500 (CME)

S&P 500 (CME)‎ (Z5)‎ Intraday: further upside.

Pivot:

6888.00

Our preference:

Long positions above 6888.00 with targets at 6928.00 & 6954.00 in extension.

Alternative scenario:

Below 6888.00 look for further downside with 6868.00 & 6840.00 as targets.

Comment:

The break above 6888.00 is a positive signal that has opened a path to 6928.00.