USDJPY, Crude Oil, and Indices continue to climb, indicating a shift in momentum.

MARKET ANALYSIS

GBPUSD

GBP/USD intraday: consolidation in place.

Pivot:1.3460

Our preference:

Short positions below 1.3460 with targets at 1.3380 & 1.3360 in extension.

Alternative scenario:

Above 1.3460 look for further upside with 1.3480 & 1.3510 as targets.

Comment:

As long as 1.3460 is resistance, look for choppy price action with a bearish bias.

USDJPY

USD/JPY intraday: bullish bias above 160.00.

Pivot:160.00

Our preference:

Long positions above 160.00 with targets at 160.40 & 160.60 in extension.

Alternative scenario:

Below 160.00 look for further downside with 159.85 & 159.70 as targets.

Comment:

The next resistances are at 160.40 and then at 160.60.

EURUSD

EUR/USD intraday: consolidation.

Pivot:1.1620

Our preference:

Short positions below 1.1620 with targets at 1.1570 & 1.1550 in extension.

Alternative scenario:

Above 1.1620 look for further upside with 1.1640 & 1.1660 as targets.

Comment:

As long as 1.1620 is resistance, look for choppy price action with a bearish bias.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (Q6)‎ intraday: rebound.

Pivot:78.50

Our preference:

Long positions above 78.50 with targets at 81.70 & 82.70 in extension.

Alternative scenario:

Below 78.50 look for further downside with 77.50 & 76.50 as targets.

Comment:

The RSI calls for a bounce.

GOLD

Gold intraday: consolidation in place.

Pivot:4365

Our preference:

Short positions below 4365 with targets at 4280 & 4245 in extension.

Alternative scenario:

Above 4365 look for further upside with 4405 & 4435 as targets.

Comment:

The RSI is below its neutrality area at 50%

S&P 500

S&P 500 (CME)‎ (U6)‎ intraday: bullish bias above 7585.

Pivot:7585

Our preference:

Long positions above 7585 with targets at 7675 & 7693 in extension.

Alternative scenario:

Below 7585 look for further downside with 7540 & 7520 as targets.

Comment:

The next resistances are at 7675 and then at 7693.

NASDAQ 100

Nasdaq 100 (CME)‎ (U6)‎ intraday: towards 31500.

Pivot:30380

Our preference:

Long positions above 30380 with targets at 31100 & 31500 in extension.

Alternative scenario:

Below 30380 look for further downside with 30050 & 29570 as targets.

Comment:

Investors have to remain cautious since these levels may trigger profit taking.

DOW JONES

Dow Jones (CME)‎ (U6)‎ intraday: the bias remains bullish.

Pivot:51940

Our preference:

Long positions above 51940 with targets at 52500 & 52730 in extension.

Alternative scenario:

Below 51940 look for further downside with 51600 & 51200 as targets.

Comment:

The next resistances are at 52500 and then at 52730.