Trend Signals Near Month-End

MARKET ANALYSIS

USDJPY

USD/JPY Intraday: watch 158.05.

Pivot:

159.15

Our preference:

Short positions below 159.15 with targets at 158.35 & 158.05 in extension.

Alternative scenario:

Above 159.15 look for further upside with 159.40 & 159.65 as targets.

Comment:

As long as the resistance at 159.15 is not surpassed, the risk of the break below 158.35 remains high.

EURUSD

EUR/USD Intraday: further advance.

Pivot:

1.1580

Our preference:

Long positions above 1.1580 with targets at 1.1640 & 1.1665 in extension.

Alternative scenario:

Below 1.1580 look for further downside with 1.1555 & 1.1530 as targets.

Comment:

The RSI is bullish and calls for further upside.

GBPUSD

GBP/USD Intraday: the bias remains bullish.

Pivot:

1.3375

Our preference:

Long positions above 1.3375 with targets at 1.3455 & 1.3480 in extension.

Alternative scenario:

Below 1.3375 look for further downside with 1.3350 & 1.3330 as targets.

Comment:

The RSI calls for a bounce.

CRUDE OIL

Crude Oil (WTI)‎ (K6)‎ Intraday: choppy.

Pivot:

91.90

Our preference:

Short positions below 91.90 with targets at 86.30 & 84.40 in extension.

Alternative scenario:

Above 91.90 look for further upside with 95.00 & 97.00 as targets.

Comment:

The RSI calls for a drop.

GOLD

Gold Intraday: rebound expected.

Pivot:

4385

Our preference:

Long positions above 4385 with targets at 4605 & 4660 in extension.

Alternative scenario:

Below 4385 look for further downside with 4300 & 4225 as targets.

Comment:

The RSI calls for a rebound.

NASDAQ 100

Nasdaq 100 (CME)‎ (M6)‎ Intraday: target 24760.

Pivot:

24190

Our preference:

Long positions above 24190 with targets at 24620 & 24760 in extension.

Alternative scenario:

Below 24190 look for further downside with 24050 & 23770 as targets.

Comment:

The RSI calls for a rebound.

S&P 500

S&P 500 (CME)‎ (M6)‎ Intraday: target 6745.

Pivot:

6580

Our preference:

Long positions above 6580 with targets at 6690 & 6745 in extension.

Alternative scenario:

Below 6580 look for further downside with 6550 & 6485 as targets.

Comment:

The RSI calls for a bounce.

DOW JONES

Dow Jones (CME)‎ (M6)‎ Intraday: aim @ 47510.

Pivot:

46180

Our preference:

Long positions above 46180 with targets at 47210 & 47510 in extension.

Alternative scenario:

Below 46180 look for further downside with 45950 & 45450 as targets.

Comment:

The RSI calls for a bounce.