Emerging Trends on the Rise

MARKET ANALYSIS

USDJPY

USD/JPY Intraday: the downside prevails.

Pivot:158.40

Our preference:

Short positions below 158.40 with targets at 157.40 & 157.00 in extension.

Alternative scenario:

Above 158.40 look for further upside with 158.65 & 158.90 as targets.

Comment:

The RSI is bearish and calls for further decline.

EURUSD

EUR/USD Intraday: the upside prevails.

Pivot:1.1575

Our preference:

Long positions above 1.1575 with targets at 1.1650 & 1.1680 in extension.

Alternative scenario:

Below 1.1575 look for further downside with 1.1545 & 1.1515 as targets.

Comment:

The RSI is bullish and calls for further upside.

GBPUSD

GBP/USD Intraday: further advance.

Pivot:1.3375

Our preference:

Long positions above 1.3375 with targets at 1.3460 & 1.3490 in extension.

Alternative scenario:

Below 1.3375 look for further downside with 1.3345 & 1.3310 as targets.

Comment:

The RSI calls for a new upleg.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (J6)‎ Intraday: key resistance at 92.50.

Pivot:92.50

Our preference:

Short positions below 92.50 with targets at 81.10 & 78.10 in extension.

Alternative scenario:

Above 92.50 look for further upside with 96.30 & 100.30 as targets.

Comment:

As long as the resistance at 92.50 is not surpassed, the risk of the break below 81.10 remains high.

GOLD

Gold Intraday: continuation of the rebound.

Pivot:5090

Our preference:

Long positions above 5090 with targets at 5175 & 5225 in extension.

Alternative scenario:

Below 5090 look for further downside with 5060 & 5025 as targets.

Comment:

The RSI advocates for further upside.

NASDAQ 100

Nasdaq 100 (CME)‎ (H6)‎ Intraday: the upside prevails.

Pivot:24720

Our preference:

Long positions above 24720 with targets at 25220 & 25400 in extension.

Alternative scenario:

Below 24720 look for further downside with 24600 & 24450 as targets.

Comment:

The break above 24720 is a positive signal that has opened a path to 25220.

S&P 500

S&P 500 (CME)‎ (H6)‎ Intraday: further advance.

Pivot:6735

Our preference:

Long positions above 6735 with targets at 6850 & 6900 in extension.

Alternative scenario:

Below 6735 look for further downside with 6685 & 6650 as targets.

Comment:

The immediate trend remains up and the momentum is strong.

DOW JONES

Dow Jones (CME)‎ (H6)‎ Intraday: towards 48120.

Pivot:47300

Our preference:

Long positions above 47300 with targets at 48120 & 48510 in extension.

Alternative scenario:

Below 47300 look for further downside with 47020 & 46665 as targets.

Comment:

The RSI is above its neutrality area at 50%.