Two markets rise, six fall. Know where momentum lies.

MARKET ANALYSIS

USDJPY

USD/JPY intraday: bullish bias above 162.15.

Pivot:

162.15

Our preference:

Long positions above 162.15 with targets at 162.55 & 162.70 in extension.

Alternative scenario:

Below 162.15 look for further downside with 162.00 & 161.85 as targets.

Comment:

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

EURUSD

EUR/USD intraday: towards 1.1405.

Pivot:

1.1465

Our preference:

Short positions below 1.1465 with targets at 1.1420 & 1.1405 in extension.

Alternative scenario:

Above 1.1465 look for further upside with 1.1480 & 1.1495 as targets.

Comment:

The RSI advocates for further downside.

GBPUSD

GBP/USD intraday: the downside prevails.

Pivot:

1.3510

Our preference:

Short positions below 1.3510 with targets at 1.3445 & 1.3415 in extension.

Alternative scenario:

Above 1.3510 look for further upside with 1.3530 & 1.3555 as targets.

Comment:

The RSI is bearish and calls for further decline.

CRUDE OIL

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

Pivot:

78.55

Our preference:

Long positions above 78.55 with targets at 80.60 & 81.20 in extension.

Alternative scenario:

Below 78.55 look for further downside with 77.85 & 77.00 as targets.

Comment:

The RSI calls for a bounce.

GOLD

Gold intraday: key resistance at 4015.

Pivot:

4015

Our preference:

Short positions below 4015 with targets at 3942 & 3900 in extension.

Alternative scenario:

Above 4015 look for further upside with 4040 & 4071 as targets.

Comment:

As long as 4015 is resistance, likely decline to 3942.

DOW JONES

Dow Jones (CME)‎ (U6)‎ intraday: aim @ 52460.

Pivot:

52835

Our preference:

Short positions below 52835 with targets at 52580 & 52460 in extension.

Alternative scenario:

Above 52835 look for further upside with 52990 & 53100 as targets.

Comment:

The RSI is bearish and calls for further downside.

NASDAQ 100

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

Pivot:

29280

Our preference:

Short positions below 29280 with targets at 29030 & 28910 in extension.

Alternative scenario:

Above 29280 look for further upside with 29440 & 29590 as targets.

Comment:

The RSI has broken down its 30 level.

S&P 500

S&P 500 (CME)‎ (U6)‎ intraday: target 7515.

Pivot:

7585

Our preference:

Short positions below 7585 with targets at 7540 & 7515 in extension.

Alternative scenario:

Above 7585 look for further upside with 7610 & 7630 as targets.

Comment:

A break below 7540 would trigger a drop towards 7515.