Technical Insight: Important Price Zones

MARKET ANALYSIS

USDJPY

USD/JPY Intraday: the bias remains bullish.

Pivot:

158.05

Our preference:

Long positions above 158.05 with targets at 158.60 & 158.85 in extension.

Alternative scenario:

Below 158.05 look for further downside with 157.75 & 157.50 as targets.

Comment:

The RSI calls for a bounce.

EURUSD

EUR/USD Intraday: under pressure.

Pivot:

1.1710

Our preference:

Short positions below 1.1710 with targets at 1.1650 & 1.1620 in extension.

Alternative scenario:

Above 1.1710 look for further upside with 1.1740 & 1.1765 as targets.

Comment:

The RSI is bearish and calls for further downside.

GBPUSD

GBP/USD Intraday: aim @ 1.3380.

Pivot:

1.3455

Our preference:

Short positions below 1.3455 with targets at 1.3400 & 1.3380 in extension.

Alternative scenario:

Above 1.3455 look for further upside with 1.3475 & 1.3490 as targets.

Comment:

As long as the resistance at 1.3455 is not surpassed, the risk of the break below 1.3400 remains high.

GOLD

Gold Intraday: the downside prevails.

Pivot:

4833

Our preference:

Short positions below 4833 with targets at 4755 & 4715 in extension.

Alternative scenario:

Above 4833 look for further upside with 4860 & 4887 as targets.

Comment:

A break below 4755 would trigger a drop towards 4715.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (H6)‎ Intraday: the bias remains bullish.

Pivot:

60.10

Our preference:

Long positions above 60.10 with targets at 60.90 & 61.30 in extension.

Alternative scenario:

Below 60.10 look for further downside with 59.70 & 59.20 as targets.

Comment:

Technically the RSI is above its neutrality area at 50.

NASDAQ 100

Nasdaq 100 (CME)‎ (H6)‎ Intraday: the upside prevails.

Pivot:

25200

Our preference:

Long positions above 25200 with targets at 25750 & 25950 in extension.

Alternative scenario:

Below 25200 look for further downside with 25040 & 24900 as targets.

Comment:

The RSI advocates for further advance.

S&P 500

S&P 500 (CME)‎ (H6)‎ Intraday: the upside prevails.

Pivot:

6855

Our preference:

Long positions above 6855 with targets at 6970 & 7005 in extension.

Alternative scenario:

Below 6855 look for further downside with 6820 & 6790 as targets.

Comment:

The RSI advocates for further advance.

DOW JONES

Dow Jones (CME)‎ (H6)‎ Intraday: further advance.

Pivot:

48850

Our preference:

Long positions above 48850 with targets at 49600 & 49900 in extension.

Alternative scenario:

Below 48850 look for further downside with 48600 & 48400 as targets.

Comment:

The RSI is bullish and calls for further upside.