Market Reset: New Narrative Forms

MARKET ANALYSIS

EURUSD

EUR/USD Intraday: aim @ 1.1795.

Pivot:

1.1715

Our preference:

Long positions above 1.1715 with targets at 1.1795 & 1.1820 in extension.

Alternative scenario:

Below 1.1715 look for further downside with 1.1690 & 1.1660 as targets.

Comment:

The break above 1.1715 is a positive signal that has opened a path to 1.1795.

USDJPY

USD/JPY Intraday: 159.00 expected.

Pivot:

159.75

Our preference:

Short positions below 159.75 with targets at 159.00 & 158.60 in extension.

Alternative scenario:

Above 159.75 look for further upside with 160.00 & 160.25 as targets.

Comment:

The immediate trend remains down and the momentum is strong.

GBPUSD

GBP/USD Intraday: watch 1.3545.

Pivot:

1.3455

Our preference:

Long positions above 1.3455 with targets at 1.3545 & 1.3575 in extension.

Alternative scenario:

Below 1.3455 look for further downside with 1.3420 & 1.3380 as targets.

Comment:

The RSI is bullish and calls for further upside.

GOLD

Gold Intraday: further advance.

Pivot:

4720

Our preference:

Long positions above 4720 with targets at 4795 & 4835 in extension.

Alternative scenario:

Below 4720 look for further downside with 4700 & 4680 as targets.

Comment:

The RSI shows upside momentum.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (K6)‎ Intraday: the downside prevails.

Pivot:

101.50

Our preference:

Short positions below 101.50 with targets at 94.00 & 91.10 in extension.

Alternative scenario:

Above 101.50 look for further upside with 103.60 & 105.60 as targets.

Comment:

The RSI has broken down its 30 level.

DOW JONES

Dow Jones (CME)‎ (M6)‎ Intraday: the upside prevails.

Pivot:

48185

Our preference:

Long positions above 48185 with targets at 48540 & 48720 in extension.

Alternative scenario:

Below 48185 look for further downside with 48070 & 47900 as targets.

Comment:

The RSI shows upside momentum.

NASDAQ 100

Nasdaq 100 (CME)‎ (M6)‎ Intraday: towards 25800.

Pivot:

25360

Our preference:

Long positions above 25360 with targets at 25700 & 25800 in extension.

Alternative scenario:

Below 25360 look for further downside with 25290 & 25200 as targets.

Comment:

The RSI advocates for further advance.

S&P 500

S&P 500 (CME)‎ (M6)‎ Intraday: further advance.

Pivot:

6885

Our preference:

Long positions above 6885 with targets at 6945 & 6970 in extension.

Alternative scenario:

Below 6885 look for further downside with 6850 & 6820 as targets.

Comment:

The RSI is bullish and calls for further upside.