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MARKET ANALYSIS

USDJPY

USD/JPY Intraday: bullish bias above 159.10.

Pivot:159.10

Our preference:

Long positions above 159.10 with targets at 159.65 & 159.90 in extension.

Alternative scenario:

Below 159.10 look for further downside with 158.80 & 158.55 as targets.

Comment:

The next resistances are at 159.65 and then at 159.90.

EURUSD

EUR/USD Intraday: under pressure.

Pivot:1.1730

Our preference:

Short positions below 1.1730 with targets at 1.1690 & 1.1675 in extension.

Alternative scenario:

Above 1.1730 look for further upside with 1.1745 & 1.1760 as targets.

Comment:

The RSI is bearish and calls for further downside.

GBPUSD

GBP/USD Intraday: choppy.

Pivot:1.3530

Our preference:

Short positions below 1.3530 with targets at 1.3475 & 1.3460 in extension.

Alternative scenario:

Above 1.3530 look for further upside with 1.3545 & 1.3560 as targets.

Comment:

As long as 1.3530 is resistance, look for choppy price action with a bearish bias.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (M6)‎ Intraday: the bias remains bullish.

Pivot:90.80

Our preference:

Long positions above 90.80 with targets at 94.50 & 96.20 in extension.

Alternative scenario:

Below 90.80 look for further downside with 89.60 & 87.70 as targets.

Comment:

Technically the RSI is above its neutrality area at 50.

GOLD

Gold Intraday: under pressure.

Pivot:4760

Our preference:

Short positions below 4760 with targets at 4700 & 4667 in extension.

Alternative scenario:

Above 4760 look for further upside with 4795 & 4830 as targets.

Comment:

The RSI is bearish and calls for further decline.

NASDAQ 100

Nasdaq 100 (CME)‎ (M6)‎ Intraday: further upside.

Pivot:26900

Our preference:

Long positions above 26900 with targets at 27200 & 27300 in extension.

Alternative scenario:

Below 26900 look for further downside with 26780 & 26700 as targets.

Comment:

The RSI shows upside momentum.

S&P 500

S&P 500 (CME)‎ (M6)‎ Intraday: bullish bias above 7140.

Pivot:7140

Our preference:

Long positions above 7140 with targets at 7180 & 7200 in extension.

Alternative scenario:

Below 7140 look for further downside with 7125 & 7100 as targets.

Comment:

The next resistances are at 7180 and then at 7200.

DOW JONES

Dow Jones (CME)‎ (M6)‎ Intraday: range.

Pivot:49330

Our preference:

Long positions above 49330 with targets at 49770 & 50000 in extension.

Alternative scenario:

Below 49330 look for further downside with 49090 & 48870 as targets.

Comment:

The RSI lacks momentum.