Weekly Market Performance Review

MARKET ANALYSIS

USDJPY

USD/JPY Intraday: consolidation.

Pivot:158.85

Our preference:

Short positions below 158.85 with targets at 158.00 & 157.75 in extension.

Alternative scenario:

Above 158.85 look for further upside with 159.10 & 159.35 as targets.

Comment:

The RSI is mixed with a bearish bias.

EURUSD

EUR/USD Intraday: the upside prevails.

Pivot:1.1720

Our preference:

Long positions above 1.1720 with targets at 1.1780 & 1.1805 in extension.

Alternative scenario:

Below 1.1720 look for further downside with 1.1695 & 1.1670 as targets.

Comment:

The RSI is bullish and calls for further advance.

GBPUSD

GBP/USD Intraday: further advance.

Pivot:1.3455

Our preference:

Long positions above 1.3455 with targets at 1.3540 & 1.3565 in extension.

Alternative scenario:

Below 1.3455 look for further downside with 1.3430 & 1.3400 as targets.

Comment:

The RSI advocates for further upside.

GOLD

Gold Intraday: the upside prevails.

Pivot:4885

Our preference:

Long positions above 4885 with targets at 4980 & 5040 in extension.

Alternative scenario:

Below 4885 look for further downside with 4838 & 4800 as targets.

Comment:

The break above 4885 is a positive signal that has opened a path to 4980.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (H6)‎ Intraday: key resistance at 60.00.

Pivot:60.00

Our preference:

Short positions below 60.00 with targets at 59.20 & 58.95 in extension.

Alternative scenario:

Above 60.00 look for further upside with 60.50 & 60.90 as targets.

Comment:

The index currently faces a challenging resistance area at 60.00.

NASDAQ 100

Nasdaq 100 (CME)‎ (H6)‎ Intraday: the bias remains bullish.

Pivot:25490

Our preference:

Long positions above 25490 with targets at 25740 & 25870 in extension.

Alternative scenario:

Below 25490 look for further downside with 25330 & 25200 as targets.

Comment:

The next resistances are at 25740 and then at 25870.

S&P 500

S&P 500 (CME)‎ (H6)‎ Intraday: watch 6975.

Pivot:6910

Our preference:

Long positions above 6910 with targets at 6975 & 7005 in extension.

Alternative scenario:

Below 6910 look for further downside with 6880 & 6855 as targets.

Comment:

The next resistances are at 6975 and then at 7005.

DOW JONES

Dow Jones (CME)‎ (H6)‎ Intraday: aim @ 49900.

Pivot:49260

Our preference:

Long positions above 49260 with targets at 49900 & 50200 in extension.

Alternative scenario:

Below 49260 look for further downside with 49050 & 48800 as targets.

Comment:

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