Market Levels and Strategy

MARKET ANALYSIS

USDJPY

USD/JPY Intraday: towards 152.10.

Pivot:154.00

Our preference:

Short positions below 154.00 with targets at 152.80 & 152.10 in extension.

Alternative scenario:

Above 154.00 look for further upside with 154.40 & 154.85 as targets.

Comment:

The RSI advocates for further downside.

EURUSD

EUR/USD Intraday: rebound.

Pivot:1.1925

Our preference:

Long positions above 1.1925 with targets at 1.2000 & 1.2030 in extension.

Alternative scenario:

Below 1.1925 look for further downside with 1.1895 & 1.1850 as targets.

Comment:

The RSI shows upside momentum.

GBPUSD

GBP/USD Intraday: further advance.

Pivot:1.3780

Our preference:

Long positions above 1.3780 with targets at 1.3840 & 1.3865 in extension.

Alternative scenario:

Below 1.3780 look for further downside with 1.3750 & 1.3730 as targets.

Comment:

The RSI calls for a bounce.

GOLD

Gold Intraday: towards 5730.

Pivot:5380

Our preference:

Long positions above 5380 with targets at 5650 & 5730 in extension.

Alternative scenario:

Below 5380 look for further downside with 5315 & 5255 as targets.

Comment:

The RSI shows upside momentum.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (H6)‎ Intraday: further advance.

Pivot:62.55

Our preference:

Long positions above 62.55 with targets at 64.05 & 64.95 in extension.

Alternative scenario:

Below 62.55 look for further downside with 62.10 & 61.70 as targets.

Comment:

The next resistances are at 64.05 and then at 64.95.

NASDAQ 100

Nasdaq 100 (CME)‎ (H6)‎ Intraday: look for 26450.

Pivot:26110

Our preference:

Long positions above 26110 with targets at 26330 & 26450 in extension.

Alternative scenario:

Below 26110 look for further downside with 26030 & 25930 as targets.

Comment:

The RSI is mixed with a bullish bias.

S&P 500

S&P 500 (CME)‎ (H6)‎ Intraday: intraday support around 6995.

Pivot:6995

Our preference:

Long positions above 6995 with targets at 7040 & 7075 in extension.

Alternative scenario:

Below 6995 look for further downside with 6968 & 6950 as targets.

Comment:

Intraday technical indicators are mixed.

DOW JONES

Dow Jones (CME)‎ (H6)‎ Intraday: 48930 in sight.

Pivot:49290

Our preference:

Short positions below 49290 with targets at 48930 & 48790 in extension.

Alternative scenario:

Above 49290 look for further upside with 49360 & 49470 as targets.

Comment:

The RSI has just struck against its neutrality area at 50% and is reversing down.