Divergence: Long EUR, GBP & Gold / Short Yen, Oil & Indices

MARKET ANALYSIS

USDJPY

USD/JPY intraday : Expect 162.99

Our pivot point is at 163.86.

Our preference:

The downside prevails as long as 163.86 is resistance, with 162.99 and 162.83 as targets

Alternative scenario:

Above 163.86, look for 164.13 and 164.29.

Comment:

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The price stands below its 20 and 50 period moving average (respectively at 163.61 and 163.64).

EURUSD

EUR/USD intraday : Watching for a Trigger Above Resistance

Our pivot point is at 1.1390.

Our preference:

The upside prevails as long as 1.1390 is support, with 1.1479 and 1.1493 as targets

Alternative scenario:

Below 1.1390, expect 1.1368 and 1.1354.

Comment:

Prices are now close to our first target. Reaching this level could trigger a throwback. Conversely, a clear break above it could help drive the asset price higher.

GBPUSD

GBP/USD intraday : Target level as a potential turning point

Our pivot point is at 1.3285.

Our preference:

The upside prevails as long as 1.3285 is support, with 1.3407 and 1.3428 as targets

Alternative scenario:

Below 1.3285, expect 1.3250 and 1.3229.

Comment:

The chart structure suggests the instrument is coiling ahead of a potentially significant move.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (U6)‎ intraday: bullish bias above 82.40.

Pivot:82.40

Our preference:

Long positions above 82.40 with targets at 85.60 & 87.40 in extension.

Alternative scenario:

Below 82.40 look for further downside with 80.80 & 79.40 as targets.

Comment:

The RSI is above its neutrality area at 50%.

GOLD

Gold intraday : Aim at 4,160

Our pivot point is at 4,052.

Our preference:

The upside prevails as long as 4,052 is support, with 4,160 and 4,182 as targets

Alternative scenario:

Below 4,052, expect 4,016 and 3,994.

Comment:

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The price is above its 20 and 50 period moving average (respectively at 4,049 and 4,037).

DOW JONES

Dow Jones (CME)‎ (U6)‎ intraday: key resistance at 52200.

Pivot:52200

Our preference:

Short positions below 52200 with targets at 51630 & 51450 in extension.

Alternative scenario:

Above 52200 look for further upside with 52400 & 52800 as targets.

Comment:

As long as the resistance at 52200 is not surpassed, the risk of the break below 51630 remains high.

NASDAQ 100

Nasdaq 100 (CME)‎ (U6)‎ intraday: choppy.

Pivot:27740

Our preference:

Short positions below 27740 with targets at 27200 & 27000 in extension.

Alternative scenario:

Above 27740 look for further upside with 28100 & 28300 as targets.

Comment:

As long as 27740 is resistance, look for choppy price action with a bearish bias.

S&P 500

S&P 500 (CME)‎ (U6)‎ intraday: key resistance at 7417.

Pivot:7417

Our preference:

Short positions below 7417 with targets at 7324 & 7300 in extension.

Alternative scenario:

Above 7417 look for further upside with 7440 & 7495 as targets.

Comment:

As long as 7417 is resistance, look for choppy price action with a bearish bias.