Greenback Softens, Commodities & Stocks Rally

MARKET ANALYSIS

USDJPY

USD/JPY intraday : 157.35 in sight

Our pivot point is at 158.20.

Our preference:

The downside prevails as long as 158.20 is resistance, with 157.35 and 157.18 as targets

Alternative scenario:

Above 158.20, look for 158.47 and 158.64.

Comment:

The MACD is above its signal line and negative. The price stands above its 20 period moving average (157.66) but below its 50 period moving average (158.06).

EURUSD

EUR/USD intraday : Aim at 1.1591

Our pivot point is at 1.1533.

Our preference:

The upside prevails as long as 1.1533 is support, with 1.1591 and 1.1605 as targets

Alternative scenario:

Below 1.1533, expect 1.1510 and 1.1496.

Comment:

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The price is below its 20 period moving average (1.1560) but above its 50 period moving average (1.1540).

GBPUSD

GBP/USD intraday : Look for 1.3539

Our pivot point is at 1.3458.

Our preference:

The upside prevails as long as 1.3458 is support, with 1.3539 and 1.3558 as targets

Alternative scenario:

Below 1.3458, expect 1.3425 and 1.3406.

Comment:

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The price is below its 20 period moving average (1.3494) but above its 50 period moving average (1.3469).

CRUDE OIL

Crude Oil (WTI)‎ (U6)‎ intraday: further advance.

Pivot:

77.70

Our preference:

Long positions above 77.70 with targets at 79.90 & 81.25 in extension.

Alternative scenario:

Below 77.70 look for further downside with 76.50 & 75.60 as targets.

Comment:

The RSI advocates for further upside.

GOLD

Gold intraday : Gains at stake near target

Our pivot point is at 4,287.

Our preference:

The upside prevails as long as 4,287 is support, with 4,374 and 4,397 as targets

Alternative scenario:

Below 4,287, expect 4,248 and 4,225.

Comment:

The approach toward our first target is a key moment to watch, it may trigger a throwback, yet a firm close above this threshold could provide the momentum needed to push the asset price higher.

DOW JONES

Dow Jones (CME)‎ (U6)‎ intraday: the bias remains bullish.

Pivot:

53800

Our preference:

Long positions above 53800 with targets at 54230 & 54440 in extension.

Alternative scenario:

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

Comment:

The RSI is mixed to bullish.

NASDAQ 100

Nasdaq 100 (CME)‎ (U6)‎ intraday: rebound.

Pivot:

29240

Our preference:

Long positions above 29240 with targets at 30070 & 30400 in extension.

Alternative scenario:

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

Comment:

The RSI shows upside momentum.

S&P 500

S&P 500 (CME)‎ (U6)‎ intraday: target 7820.

Pivot:

7725

Our preference:

Long positions above 7725 with targets at 7820 & 7890 in extension.

Alternative scenario:

Below 7725 look for further downside with 7649 & 7568 as targets.

Comment:

The RSI is mixed with a bullish bias.