Daily Forex Market Insights

Market Analysis

GBPUSD

GBP/USD Intraday: key resistance at 1.3180.

Pivot:

1.3180

Our preference:

Short positions below 1.3180 with targets at 1.3135 & 1.3115 in extension.

Alternative scenario:

Above 1.3180 look for further upside with 1.3200 & 1.3220 as targets.

Comment:

The RSI is below its neutrality area at 50%

USDJPY

USD/JPY Intraday: bullish bias above 153.60.

Pivot:

153.60

Our preference:

Long positions above 153.60 with targets at 154.45 & 154.80 in extension.

Alternative scenario:

Below 153.60 look for further downside with 153.30 & 153.00 as targets.

Comment:

Technically the RSI is above its neutrality area at 50.

EURUSD

EUR/USD Intraday: the downside prevails.

Pivot:

1.1595

Our preference:

Short positions below 1.1595 with targets at 1.1545 & 1.1520 in extension.

Alternative scenario:

Above 1.1595 look for further upside with 1.1615 & 1.1635 as targets.

Comment:

A break below 1.1545 would trigger a drop towards 1.1520.

CRUDE OIL (WTI)

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

Pivot:

60.70

Our preference:

Short positions below 60.70 with targets at 59.65 & 59.35 in extension.

Alternative scenario:

Above 60.70 look for further upside with 61.00 & 61.40 as targets.

Comment:

As long as 60.70 is resistance, expect a return to 59.65.

GOLD

Gold Intraday: target 4100.00.

Pivot:

3980.00

Our preference:

Long positions above 3980.00 with targets at 4060.00 & 4100.00 in extension.

Alternative scenario:

Below 3980.00 look for further downside with 3955.00 & 3920.00 as targets.

Comment:

The RSI advocates for further upside.

DOW JONES (CME)

Dow Jones (CME)‎ (Z5)‎ Intraday: look for 47380.00.

Pivot:

47920.00

Our preference:

Short positions below 47920.00 with targets at 47550.00 & 47380.00 in extension.

Alternative scenario:

Above 47920.00 look for further upside with 48100.00 & 48210.00 as targets.

Comment:

The RSI is below its neutrality area at 50%

NASDAQ 100 (CME)

Nasdaq 100 (CME)‎ (Z5)‎ Intraday: bounce.

Pivot:

25940.00

Our preference:

Long positions above 25940.00 with targets at 26230.00 & 26400.00 in extension.

Alternative scenario:

Below 25940.00 look for further downside with 25850.00 & 25770.00 as targets.

Comment:

The RSI has just landed in its neutrality area at 50% and is turning up.

S&P 500 (CME)

S&P 500 (CME)‎ (Z5)‎ Intraday: rebound.

Pivot:

6854.00

Our preference:

Long positions above 6854.00 with targets at 6930.00 & 6953.00 in extension.

Alternative scenario:

Below 6854.00 look for further downside with 6840.00 & 6821.00 as targets.

Comment:

The RSI is below its neutrality area at 50% but reversing up.