USDJPY & Gold Lead Upside; GBP & Oil Reverse Course

MARKET ANALYSIS

USDJPY

USD/JPY intraday : 158.79 in sight

Our pivot point is at 157.99.

Our preference:

The upside prevails as long as 157.99 is support, with 158.79 and 158.96 as targets

Alternative scenario:

Below 157.99, expect 157.71 and 157.55.

Comment:

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The price is above its 20 and 50 period moving average (respectively at 158.39 and 158.02).

EURUSD

EUR/USD intraday : Expect 1.1553

Our pivot point is at 1.1504.

Our preference:

Rebound towards 1.1567

Alternative scenario:

Below 1.1504, expect 1.1481 and 1.1467.

Comment:

The next trend direction will be confirmed by key price levels.

GBPUSD

GBP/USD intraday : Target 1.3416

Our pivot point is at 1.3486.

Our preference:

The downside prevails as long as 1.3486 is resistance, with 1.3416 and 1.3396 as targets

Alternative scenario:

Above 1.3486, look for 1.3519 and 1.3538.

Comment:

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The price stands below its 20 and 50 period moving average (respectively at 1.3457 and 1.3461).

CRUDE OIL

Crude Oil (WTI)‎ (U6)‎ intraday: 81.25 expected.

Pivot:76.00

Our preference:

Long positions above 76.00 with targets at 79.90 & 81.25 in extension.

Alternative scenario:

Below 76.00 look for further downside with 74.20 & 72.60 as targets.

Comment:

The RSI is bullish and calls for further upside.

GOLD

Gold intraday : Watch 4,311

Our pivot point is at 4,213.

Our preference:

The upside prevails as long as 4,213 is support, with 4,311 and 4,333 as targets

Alternative scenario:

Below 4,213, expect 4,175 and 4,152.

Comment:

The technical picture suggests holding the setup and awaiting price action.

DOW JONES

Dow Jones (CME)‎ (U6)‎ intraday: caution.

Pivot:53800

Our preference:

Long positions above 53800 with targets at 54880 & 55440 in extension.

Alternative scenario:

Below 53800 look for further downside with 53490 & 53100 as targets.

Comment:

The RSI is mixed and calls for caution.

NASDAQ 100

Nasdaq 100 (CME)‎ (U6)‎ intraday: target 29850.

Pivot:29240

Our preference:

Long positions above 29240 with targets at 29850 & 30070 in extension.

Alternative scenario:

Below 29240 look for further downside with 29030 & 28820 as targets.

Comment:

The RSI is mixed to bullish.

S&P 500

S&P 500 (CME)‎ (U6)‎ intraday: bullish bias above 7710.

Pivot:7710

Our preference:

Long positions above 7710 with targets at 7820 & 7890 in extension.

Alternative scenario:

Below 7710 look for further downside with 7649 & 7568 as targets.

Comment:

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