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MARKET ANALYSIS

USDJPY

USD/JPY intraday: bullish bias above 159.75.

Pivot:

159.75

Our preference:

Long positions above 159.75 with targets at 160.10 & 160.30 in extension.

Alternative scenario:

Below 159.75 look for further downside with 159.55 & 159.35 as targets.

Comment:

A support base at 159.75 has formed and has allowed for a temporary stabilisation.

EURUSD

EUR/USD intraday: choppy.

Pivot:

1.1630

Our preference:

Short positions below 1.1630 with targets at 1.1595 & 1.1580 in extension.

Alternative scenario:

Above 1.1630 look for further upside with 1.1645 & 1.1660 as targets.

Comment:

As long as the resistance at 1.1630 is not surpassed, the risk of the break below 1.1595 remains high.

GBPUSD

GBP/USD intraday: the downside prevails.

Pivot:

1.3445

Our preference:

Short positions below 1.3445 with targets at 1.3410 & 1.3390 in extension.

Alternative scenario:

Above 1.3445 look for further upside with 1.3460 & 1.3480 as targets.

Comment:

The RSI is bearish and calls for further downside.

CRUDE OIL

Crude Oil (WTI)‎ (N6)‎ intraday: key resistance at 94.40.

Pivot:

94.40

Our preference:

Short positions below 94.40 with targets at 91.60 & 90.20 in extension.

Alternative scenario:

Above 94.40 look for further upside with 95.85 & 97.00 as targets.

Comment:

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

GOLD

Gold intraday: intraday support around 4452.

Pivot:

4452

Our preference:

Long positions above 4452 with targets at 4495 & 4515 in extension.

Alternative scenario:

Below 4452 look for further downside with 4422 & 4400 as targets.

Comment:

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

DOW JONES

Dow Jones (CME)‎ (M6)‎ intraday: bullish bias above 51440.

Pivot:

51440

Our preference:

Long positions above 51440 with targets at 52000 & 52200 in extension.

Alternative scenario:

Below 51440 look for further downside with 51200 & 50970 as targets.

Comment:

The break above 51440 is a positive signal that has opened a path to 52000.

NASDAQ 100

Nasdaq 100 (CME)‎ (M6)‎ intraday: under pressure.

Pivot:

30500

Our preference:

Short positions below 30500 with targets at 30160 & 30040 in extension.

Alternative scenario:

Above 30500 look for further upside with 30600 & 30680 as targets.

Comment:

The RSI shows downside momentum.

S&P 500

S&P 500 (CME)‎ (M6)‎ intraday: consolidation.

Pivot:

7610

Our preference:

Short positions below 7610 with targets at 7555 & 7530 in extension.

Alternative scenario:

Above 7610 look for further upside with 7630 & 7650 as targets.

Comment:

The RSI calls for a drop.