Key Economic Indicators: What to Watch Today

Market Analysis

EUR/USD Intraday: the upside prevails.

Pivot:

1.1515

Our preference:

Long positions above 1.1515 with targets at 1.1560 & 1.1580 in extension.

Alternative scenario:

Below 1.1515 look for further downside with 1.1500 & 1.1485 as targets.

Comment:

The break above 1.1515 is a positive signal that has opened a path to 1.1560.

USD/JPY Intraday: watch 152.70.

Pivot:

153.70

Our preference:

Short positions below 153.70 with targets at 152.70 & 152.30 in extension.

Alternative scenario:

Above 153.70 look for further upside with 154.00 & 154.35 as targets.

Comment:

A break below 152.70 would trigger a drop towards 152.30.

GBP/USD Intraday: the upside prevails.

Pivot:

1.3070

Our preference:

Long positions above 1.3070 with targets at 1.3165 & 1.3195 in extension.

Alternative scenario:

Below 1.3070 look for further downside with 1.3045 & 1.3015 as targets.

Comment:

The RSI advocates for further upside.

Gold Intraday: target 3948.00.

Pivot:

3995.00

Our preference:

Short positions below 3995.00 with targets at 3964.00 & 3948.00 in extension.

Alternative scenario:

Above 3995.00 look for further upside with 4004.00 & 4020.00 as targets.

Comment:

A break below 3964.00 would trigger a drop towards 3948.00.

Crude Oil (WTI)‎ (Z5)‎ Intraday: towards 60.45.

Pivot:

59.00

Our preference:

Long positions above 59.00 with targets at 60.00 & 60.45 in extension.

Alternative scenario:

Below 59.00 look for further downside with 58.40 & 58.00 as targets.

Comment:

The RSI calls for a bounce.

Nasdaq 100 (CME)‎ (Z5)‎ Intraday: towards 25110.00.

Pivot:

25530.00

Our preference:

Short positions below 25530.00 with targets at 25110.00 & 24960.00 in extension.

Alternative scenario:

Above 25530.00 look for further upside with 25610.00 & 25810.00 as targets.

Comment:

A break below 25110.00 would trigger a drop towards 24960.00.

S&P 500 (CME)‎ (Z5)‎ Intraday: aim @ 6690.00.

Pivot:

6800.00

Our preference:

Short positions below 6800.00 with targets at 6720.00 & 6690.00 in extension.

Alternative scenario:

Above 6800.00 look for further upside with 6827.00 & 6855.00 as targets.

Comment:

As long as the resistance at 6800.00 is not surpassed, the risk of the break below 6720.00 remains high.

Dow Jones (CME)‎ (Z5)‎ Intraday: watch 46770.00.

Pivot:

47300.00

Our preference:

Short positions below 47300.00 with targets at 46770.00 & 46600.00 in extension.

Alternative scenario:

Above 47300.00 look for further upside with 47510.00 & 47680.00 as targets.

Comment:

The RSI is below its neutrality area at 50%