Yen & Gold hold the line. Euro, Pound, Oil & Indices? Fading.

MARKET ANALYSIS

USD/JPY

USD/JPY intraday : Towards 164.12

Our pivot point is at 163.49.

Our preference:

The upside prevails as long as 163.49 is support, with 164.12 and 164.28 as targets

Alternative scenario:

Below 163.49, expect 163.21 and 163.05.

Comment:

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The price is above its 20 and 50 period moving average (respectively at 163.73 and 163.64).

EURUSD

EUR/USD intraday : Watch 1.1342

Our pivot point is at 1.1394.

Our preference:

The upside prevails as long as 1.1328 is support, with 1.1385 and 1.1394 as targets

Alternative scenario:

Below 1.1394, expect 1.1315 and 1.1301.

Comment:

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The price stands below its 20 and 50 period moving average (respectively at 1.1372 and 1.1389).

GBPUSD

GBP/USD intraday : Key support level approaches

Our pivot point is at 1.3360.

Our preference:

The downside prevails as long as 1.3360 is resistance, with 1.3275 and 1.3255 as targets

Alternative scenario:

Above 1.3360, look for 1.3395 and 1.3416.

Comment:

As prices close in on our first target, this level may spark a pullback. However, a definitive break below it could pave the way for a deeper decline.

CRUDE OIL

Crude Oil (WTI)‎ (U6)‎ intraday: 80.00 in sight.

Pivot:83.80

Our preference:

Short positions below 83.80 with targets at 81.40 & 80.00 in extension.

Alternative scenario:

Above 83.80 look for further upside with 84.80 & 85.70 as targets.

Comment:

The RSI advocates for further decline.

GOLD

Gold intraday : Pivotal moment

Our pivot point is at 4,060.

Our preference:

The upside prevails as long as 4,060 is support, with 4,127 and 4,145 as targets

Alternative scenario:

Below 4,060, expect 4,030 and 4,013.

Comment:

The price is dangerously moving towards our pivot, one of the final opportunities for a reversal.

DOW JONES

Dow Jones (CME)‎ (U6)‎ intraday: key resistance at 52460.

Pivot:52460

Our preference:

Short positions below 52460 with targets at 52180 & 52000 in extension.

Alternative scenario:

Above 52460 look for further upside with 52650 & 52780 as targets.

Comment:

As long as 52460 is resistance, look for choppy price action with a bearish bias.

NASDAQ 100

Nasdaq 100 (CME)‎ (U6)‎ intraday: under pressure.

Pivot:28340

Our preference:

Short positions below 28340 with targets at 27940 & 27780 in extension.

Alternative scenario:

Above 28340 look for further upside with 28540 & 28760 as targets.

Comment:

The RSI is bearish and calls for further downside.

S&P 500

S&P 500 (CME)‎ (U6)‎ intraday: the downside prevails.

Pivot:7461

Our preference:

Short positions below 7461 with targets at 7411 & 7390 in extension.

Alternative scenario:

Above 7461 look for further upside with 7486 & 7525 as targets.

Comment:

As long as the resistance at 7461 is not surpassed, the risk of the break below 7411 remains high.