Seven green. One red. Momentum builds.

MARKET ANALYSIS

GBPUSD

GBP/USD intraday : Throwback or further upside？

Our pivot point is at 1.3395.

Our preference:

The upside prevails as long as 1.3395 is support, with 1.3485 and 1.3506 as targets

Alternative scenario:

Below 1.3395, expect 1.3359 and 1.3338.

Comment:

Price is consolidating just below a key resistance level, setting the stage for an upside attempt.

USDJPY

USD/JPY intraday : Rebound towards 160.68

Our pivot point is at 159.71.

Our preference:

Rebound towards 160.68

Alternative scenario:

Below 159.71, expect 159.44 and 159.28.

Comment:

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. The price stands above its 20 period moving average (159.47) but below its 50 period moving average (161.74). The USD/JPY is trading above its upper Bollinger band (standing at 160.10).

EURUSD

EUR/USD intraday : Key resistance level approaches

Our pivot point is at 1.1481.

Our preference:

The upside prevails as long as 1.1481 is support, with 1.1543 and 1.1557 as targets

Alternative scenario:

Below 1.1481, expect 1.1459 and 1.1445.

Comment:

With prices now approaching our initial target, this level may prompt a throwback. That said, a decisive break above it could also act as a catalyst for further upside.

CRUDE OIL

Crude Oil (WTI)‎ (U6)‎ intraday: the bias remains bullish.

Pivot:

82.90

Our preference:

Long positions above 82.90 with targets at 84.90 & 85.90 in extension.

Alternative scenario:

Below 82.90 look for further downside with 81.70 & 80.90 as targets.

Comment:

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

GOLD

Gold intraday : 4,143 expected

Our pivot point is at 4,055.

Our preference:

The upside prevails as long as 4,055 is support, with 4,143 and 4,165 as targets

Alternative scenario:

Below 4,055, expect 4,018 and 3,996.

Comment:

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The price is below its 20 period moving average (4,106) but above its 50 period moving average (4,082).

DOW JONES

Dow Jones (CME)‎ (U6)‎ intraday: continuation of the rebound.

Pivot:

52070

Our preference:

Long positions above 52070 with targets at 52800 & 53080 in extension.

Alternative scenario:

Below 52070 look for further downside with 51800 & 51630 as targets.

Comment:

The RSI shows upside momentum.

NASDAQ 100

Nasdaq 100 (CME)‎ (U6)‎ intraday: further upside.

Pivot:

28000

Our preference:

Long positions above 28000 with targets at 28600 & 28900 in extension.

Alternative scenario:

Below 28000 look for further downside with 27690 & 27400 as targets.

Comment:

The RSI advocates for further advance.

S&P 500

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

Pivot:

7419

Our preference:

Long positions above 7419 with targets at 7523 & 7563 in extension.

Alternative scenario:

Below 7419 look for further downside with 7390 & 7358 as targets.

Comment:

The RSI calls for a new upleg.