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Market Analysis

EURUSD

EUR/USD Intraday: under pressure.

Pivot:

1.1540

Our preference:

Short positions below 1.1540 with targets at 1.1505 & 1.1490 in extension.

Alternative scenario:

Above 1.1540 look for further upside with 1.1560 & 1.1580 as targets.

Comment:

A break below 1.1505 would trigger a drop towards 1.1490.

USDJPY

USD/JPY Intraday: the upside prevails.

Pivot:

153.90

Our preference:

Long positions above 153.90 with targets at 154.40 & 154.70 in extension.

Alternative scenario:

Below 153.90 look for further downside with 153.60 & 153.20 as targets.

Comment:

The RSI advocates for further upside.

GBPUSD

GBP/USD Intraday: key resistance at 1.3160.

Pivot:

1.3160

Our preference:

Short positions below 1.3160 with targets at 1.3105 & 1.3090 in extension.

Alternative scenario:

Above 1.3160 look for further upside with 1.3180 & 1.3200 as targets.

Comment:

The upward potential is likely to be limited by the resistance at 1.3160.

GOLD

Gold Intraday: range.

Pivot:

3985.00

Our preference:

Long positions above 3985.00 with targets at 4030.00 & 4045.00 in extension.

Alternative scenario:

Below 3985.00 look for further downside with 3962.00 & 3943.00 as targets.

Comment:

The RSI lacks momentum.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (Z5)‎ Intraday: look for 61.50.

Pivot:

60.75

Our preference:

Long positions above 60.75 with targets at 61.50 & 61.80 in extension.

Alternative scenario:

Below 60.75 look for further downside with 60.45 & 60.00 as targets.

Comment:

A support base at 60.75 has formed and has allowed for a temporary stabilisation.

NASDAQ 100 (CME)

Nasdaq 100 (CME)‎ (Z5)‎ Intraday: aim @ 26270.00.

Pivot:

26030.00

Our preference:

Long positions above 26030.00 with targets at 26270.00 & 26325.00 in extension.

Alternative scenario:

Below 26030.00 look for further downside with 25965.00 & 25885.00 as targets.

Comment:

A support base at 26030.00 has formed and has allowed for a temporary stabilisation.

S&P 500 (CME)‎

S&P 500 (CME)‎ (Z5)‎ Intraday: bullish bias above 6843.00.

Pivot:

6843.00

Our preference:

Long positions above 6843.00 with targets at 6918.00 & 6932.00 in extension.

Alternative scenario:

Below 6843.00 look for further downside with 6825.00 & 6800.00 as targets.

Comment:

The RSI lacks momentum.

DOW JONES (CME)

Dow Jones (CME)‎ (Z5)‎ Intraday: watch 47660.00.

Pivot:

47300.00

Our preference:

Long positions above 47300.00 with targets at 47660.00 & 47760.00 in extension.

Alternative scenario:

Below 47300.00 look for further downside with 47090.00 & 46960.00 as targets.

Comment:

The RSI is below its neutrality area at 50% but reversing up.