Financial Flash: Quick Hits from Today's Markets

Market Analysis

GBPUSD

GBP/USD Intraday: the upside prevails.

Pivot:

1.3135

Our preference:

Long positions above 1.3135 with targets at 1.3195 & 1.3220 in extension.

Alternative scenario:

Below 1.3135 look for further downside with 1.3110 & 1.3090 as targets.

Comment:

A support base at 1.3135 has formed and has allowed for a temporary stabilisation.

USDJPY

USD/JPY Intraday: further advance.

Pivot:

153.75

Our preference:

Long positions above 153.75 with targets at 154.35 & 154.60 in extension.

Alternative scenario:

Below 153.75 look for further downside with 153.45 & 153.20 as targets.

Comment:

The RSI shows upside momentum.

EURUSD

EUR/USD Intraday: watch 1.1540.

Pivot:

1.1580

Our preference:

Short positions below 1.1580 with targets at 1.1540 & 1.1525 in extension.

Alternative scenario:

Above 1.1580 look for further upside with 1.1595 & 1.1610 as targets.

Comment:

A break below 1.1540 would trigger a drop towards 1.1525.

GOLD

Gold Intraday: the upside prevails.

Pivot:

4075

Our preference:

Long positions above 4075 with targets at 4140 & 4170 in extension.

Alternative scenario:

Below 4075 look for further downside with 4035 & 4010 as targets.

Comment:

The RSI shows upside momentum.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (Z5)‎ Intraday: aim @ 60.45.

Pivot:

59.80

Our preference:

Long positions above 59.80 with targets at 60.45 & 60.80 in extension.

Alternative scenario:

Below 59.80 look for further downside with 59.30 & 58.80 as targets.

Comment:

The RSI is mixed.

NASDAQ 100 (CME)

Nasdaq 100 (CME)‎ (Z5)‎ Intraday: the bias remains bullish.

Pivot:

25430

Our preference:

Long positions above 25430 with targets at 25870 & 26020 in extension.

Alternative scenario:

Below 25430 look for further downside with 25210 & 24960 as targets.

Comment:

The RSI shows upside momentum.

S&P 5000 (CME)

S&P 500 (CME)‎ (Z5)‎ Intraday: towards 6890.

Pivot:

6820

Our preference:

Long positions above 6820 with targets at 6890 & 6918 in extension.

Alternative scenario:

Below 6820 look for further downside with 6795 & 6770 as targets.

Comment:

The RSI is bullish and calls for further advance

DOW JONES (CME)

Dow Jones (CME)‎ (Z5)‎ Intraday: further upside.

Pivot:

47290

Our preference:

Long positions above 47290 with targets at 47700 & 47860 in extension.

Alternative scenario:

Below 47290 look for further downside with 47030 & 46900 as targets.

Comment:

The break above 47290 is a positive signal that has opened a path to 47700.