Most markets are bright this morning, with only the Dow pausing.

MARKET ANALYSIS

USDJPY

USD/JPY intraday: intraday support around 159.10.

Pivot:159.10

Our preference:

Long positions above 159.10 with targets at 159.40 & 159.60 in extension.

Alternative scenario:

Below 159.10 look for further downside with 158.90 & 158.75 as targets.

Comment:

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

EURUSD

EUR/USD intraday: further advance.

Pivot:1.1615

Our preference:

Long positions above 1.1615 with targets at 1.1650 & 1.1665 in extension.

Alternative scenario:

Below 1.1615 look for further downside with 1.1600 & 1.1585 as targets.

Comment:

The RSI advocates for further upside.

GBPUSD

GBP/USD intraday: bullish bias above 1.3430.

Pivot:1.3430

Our preference:

Long positions above 1.3430 with targets at 1.3470 & 1.3490 in extension.

Alternative scenario:

Below 1.3430 look for further downside with 1.3410 & 1.3390 as targets.

Comment:

A support base at 1.3430 has formed and has allowed for a temporary stabilisation.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (N6)‎ intraday: the bias remains bullish.

Pivot:92.50

Our preference:

Long positions above 92.50 with targets at 94.65 & 95.75 in extension.

Alternative scenario:

Below 92.50 look for further downside with 90.75 & 89.35 as targets.

Comment:

The RSI is above its neutrality area at 50%.

GOLD

Gold intraday: rebound.

Pivot:4490

Our preference:

Long positions above 4490 with targets at 4535 & 4550 in extension.

Alternative scenario:

Below 4490 look for further downside with 4475 & 4460 as targets.

Comment:

The RSI calls for a rebound.

DOW JONES

Dow Jones (CME)‎ (M6)‎ intraday: aim @ 50220.

Pivot:50700

Our preference:

Short positions below 50700 with targets at 50220 & 50070 in extension.

Alternative scenario:

Above 50700 look for further upside with 50870 & 51030 as targets.

Comment:

The upward potential is likely to be limited by the resistance at 50700.

NASDAQ 100

Nasdaq 100 (CME)‎ (M6)‎ intraday: the upside prevails.

Pivot:29900

Our preference:

Long positions above 29900 with targets at 30120 & 30300 in extension.

Alternative scenario:

Below 29900 look for further downside with 29750 & 29665 as targets.

Comment:

The next resistances are at 30120 and then at 30300.

S&P 500

S&P 500 (CME)‎ (M6)‎ intraday: 7581 in sight.

Pivot:7515

Our preference:

Long positions above 7515 with targets at 7565 & 7581 in extension.

Alternative scenario:

Below 7515 look for further downside with 7495 & 7475 as targets.

Comment:

The RSI calls for a new upleg.