Pound, Yen, Euro and every index are climbing – but Oil and Gold? Heading south.

MARKET ANALYSIS

GBPUSD

GBP/USD intraday: bullish bias above 1.3225.

Pivot:

1.3225

Our preference:

Long positions above 1.3225 with targets at 1.3275 & 1.3290 in extension.

Alternative scenario:

Below 1.3225 look for further downside with 1.3210 & 1.3190 as targets.

Comment:

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

USDJPY

USD/JPY intraday: the upside prevails.

Pivot:

162.30

Our preference:

Long positions above 162.30 with targets at 162.70 & 162.90 in extension.

Alternative scenario:

Below 162.30 look for further downside with 162.10 & 161.90 as targets.

Comment:

The RSI is above its neutrality area at 50%.

EURUSD

EUR/USD intraday: the bias remains bullish.

Pivot:

1.1395

Our preference:

Long positions above 1.1395 with targets at 1.1435 & 1.1450 in extension.

Alternative scenario:

Below 1.1395 look for further downside with 1.1380 & 1.1365 as targets.

Comment:

The next resistances are at 1.1435 and then at 1.1450.

CRUDE OIL (WTI)

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

Pivot:

70.65

Our preference:

Short positions below 70.65 with targets at 69.00 & 68.55 in extension.

Alternative scenario:

Above 70.65 look for further upside with 71.30 & 71.85 as targets.

Comment:

The RSI is below its neutrality area at 50%

GOLD

Gold intraday: choppy.

Pivot:

4035

Our preference:

Short positions below 4035 with targets at 3975 & 3943 in extension.

Alternative scenario:

Above 4035 look for further upside with 4065 & 4095 as targets.

Comment:

As long as 4035 is resistance, expect a return to 3975.

DOW JONES

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

Pivot:

52450

Our preference:

Long positions above 52450 with targets at 52860 & 53030 in extension.

Alternative scenario:

Below 52450 look for further downside with 52300 & 52130 as targets.

Comment:

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

NASDAQ 100

Nasdaq 100 (CME)‎ (U6)‎ intraday: the upside prevails.

Pivot:

30190

Our preference:

Long positions above 30190 with targets at 30700 & 30960 in extension.

Alternative scenario:

Below 30190 look for further downside with 29880 & 29500 as targets.

Comment:

The next resistances are at 30700 and then at 30960.

S&P 500

S&P 500 (CME)‎ (U6)‎ intraday: bullish bias above 7490.

Pivot:

7490

Our preference:

Long positions above 7490 with targets at 7610 & 7650 in extension.

Alternative scenario:

Below 7490 look for further downside with 7450 & 7415 as targets.

Comment:

The next resistances are at 7610 and then at 7650.