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Market Analysis

USD/JPY

USD/JPY Intraday: further advance.

Pivot:

154.85

Our preference:

Long positions above 154.85 with targets at 155.45 & 155.70 in extension.

Alternative scenario:

Below 154.85 look for further downside with 154.60 & 154.40 as targets.

Comment:

The RSI is bullish and calls for further upside.

EUR/USD

EUR/USD Intraday: towards 1.1560.

Pivot:

1.1610

Our preference:

Short positions below 1.1610 with targets at 1.1575 & 1.1560 in extension.

Alternative scenario:

Above 1.1610 look for further upside with 1.1625 & 1.1640 as targets.

Comment:

The RSI advocates for further downside.

GBPUSD

GBP/USD Intraday: choppy.

Pivot:

1.3190

Our preference:

Short positions below 1.3190 with targets at 1.3130 & 1.3105 in extension.

Alternative scenario:

Above 1.3190 look for further upside with 1.3215 & 1.3240 as targets.

Comment:

As long as 1.3190 is resistance, look for choppy price action with a bearish bias.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (F6)‎ Intraday: consolidation in place.

Pivot:

60.30

Our preference:

Short positions below 60.30 with targets at 59.15 & 58.70 in extension.

Alternative scenario:

Above 60.30 look for further upside with 60.75 & 61.15 as targets.

Comment:

The RSI lacks momentum.

GOLD

Gold Intraday: key resistance at 4078.

Pivot:

4078

Our preference:

Short positions below 4078 with targets at 4010 & 3985 in extension.

Alternative scenario:

Above 4078 look for further upside with 4105 & 4125 as targets.

Comment:

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

DOW JONES (CME)

Dow Jones (CME)‎ (Z5)‎ Intraday: aim @ 46320.

Pivot:

47050

Our preference:

Short positions below 47050 with targets at 46320 & 46000 in extension.

Alternative scenario:

Above 47050 look for further upside with 47400 & 47640 as targets.

Comment:

The RSI lacks upward momentum.

NASDAQ 100 (CME)

Nasdaq 100 (CME)‎ (Z5)‎ Intraday: key resistance at 25000.

Pivot:

25000

Our preference:

Short positions below 25000 with targets at 24620 & 24410 in extension.

Alternative scenario:

Above 25000 look for further upside with 25200 & 25360 as targets.

Comment:

The break below the support at 25000 triggered a bearish acceleration to the support at 24620.

S&P 500 (CME)‎

S&P 500 (CME)‎ (Z5)‎ Intraday: key resistance at 6735.

Pivot:

6735

Our preference:

Short positions below 6735 with targets at 6640 & 6590 in extension.

Alternative scenario:

Above 6735 look for further upside with 6775 & 6800 as targets.

Comment:

The break below 6735 is a negative signal that has opened a path to 6640.