Market Review: Strategic Summary

MARKET ANALYSIS

USDJPY

USD/JPY Intraday: towards 152.10.

Pivot:

153.55

Our preference:

Short positions below 153.55 with targets at 152.65 & 152.10 in extension.

Alternative scenario:

Above 153.55 look for further upside with 154.00 & 154.40 as targets.

Comment:

As long as the resistance at 153.55 is not surpassed, the risk of the break below 152.65 remains high.

EURUSD

EUR/USD Intraday: bullish bias above 1.1930.

Pivot:

1.1930

Our preference:

Long positions above 1.1930 with targets at 1.1995 & 1.2025 in extension.

Alternative scenario:

Below 1.1930 look for further downside with 1.1905 & 1.1880 as targets.

Comment:

The RSI calls for a bounce.

GBP/USD

GBP/USD Intraday: the bias remains bullish.

Pivot:

1.3765

Our preference:

Long positions above 1.3765 with targets at 1.3840 & 1.3865 in extension.

Alternative scenario:

Below 1.3765 look for further downside with 1.3740 & 1.3720 as targets.

Comment:

Technically the RSI is above its neutrality area at 50.

GOLD

Gold Intraday: rebound expected.

Pivot:

5285

Our preference:

Long positions above 5285 with targets at 5520 & 5590 in extension.

Alternative scenario:

Below 5285 look for further downside with 5200 & 5110 as targets.

Comment:

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

CRUDE OIL (WTI)

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

Pivot:

64.30

Our preference:

Long positions above 64.30 with targets at 66.50 & 67.20 in extension.

Alternative scenario:

Below 64.30 look for further downside with 63.30 & 62.55 as targets.

Comment:

The RSI lacks downward momentum.

NASDAQ 100

Nasdaq 100 (CME)‎ (H6)‎ Intraday: rebound expected.

Pivot:

25830

Our preference:

Long positions above 25830 with targets at 26100 & 26350 in extension.

Alternative scenario:

Below 25830 look for further downside with 25730 & 25550 as targets.

Comment:

The next resistances are at 26100 and then at 26350.

S&P 500

S&P 500 (CME)‎ (H6)‎ Intraday: target 7040.

Pivot:

6942

Our preference:

Long positions above 6942 with targets at 7040 & 7070 in extension.

Alternative scenario:

Below 6942 look for further downside with 6908 & 6880 as targets.

Comment:

The next resistances are at 7040 and then at 7070.

DOW JONES

Dow Jones (CME)‎ (H6)‎ Intraday: watch 48800.

Pivot:

49240

Our preference:

Short positions below 49240 with targets at 48800 & 48530 in extension.

Alternative scenario:

Above 49240 look for further upside with 49360 & 49570 as targets.

Comment:

The index currently faces a challenging resistance area at 49240.