Resistance is temporary. USDJPY short, Gold long – know your pivot.

MARKET ANALYSIS

USDJPY

USD/JPY Intraday: key resistance at 158.00.

Pivot:158.00

Our preference:

Short positions below 158.00 with targets at 156.20 & 155.55 in extension.

Alternative scenario:

Above 158.00 look for further upside with 158.60 & 159.20 as targets.

Comment:

As long as the resistance at 158.00 is not surpassed, the risk of the break below 156.20 remains high.

EURUSD

EUR/USD Intraday: the upside prevails.

Pivot:1.1690

Our preference:

Long positions above 1.1690 with targets at 1.1750 & 1.1770 in extension.

Alternative scenario:

Below 1.1690 look for further downside with 1.1670 & 1.1650 as targets.

Comment:

The next resistances are at 1.1750 and then at 1.1770.

GBPUSD

GBP/USD Intraday: towards 1.3640.

Pivot:1.3535

Our preference:

Long positions above 1.3535 with targets at 1.3640 & 1.3675 in extension.

Alternative scenario:

Below 1.3535 look for further downside with 1.3495 & 1.3460 as targets.

Comment:

The break above 1.3535 is a positive signal that has opened a path to 1.3640.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (M6)‎ Intraday: key resistance at 108.00.

Pivot:108.00

Our preference:

Short positions below 108.00 with targets at 103.40 & 101.10 in extension.

Alternative scenario:

Above 108.00 look for further upside with 110.90 & 112.90 as targets.

Comment:

As long as the resistance at 108.00 is not surpassed, the risk of the break below 103.40 remains high.

GOLD

Gold Intraday: the upside prevails.

Pivot:4595

Our preference:

Long positions above 4595 with targets at 4646 & 4670 in extension.

Alternative scenario:

Below 4595 look for further downside with 4570 & 4540 as targets.

Comment:

The RSI is bullish and calls for further advance.

NASDAQ 100

Nasdaq 100 (CME)‎ (M6)‎ Intraday: bullish bias above 27450.

Pivot:27450

Our preference:

Long positions above 27450 with targets at 27700 & 27800 in extension.

Alternative scenario:

Below 27450 look for further downside with 27310 & 27190 as targets.

Comment:

Technically the RSI is above its neutrality area at 50.

S&P 500

S&P 500 (CME)‎ (M6)‎ Intraday: 7300 in sight.

Pivot:7210

Our preference:

Long positions above 7210 with targets at 7280 & 7300 in extension.

Alternative scenario:

Below 7210 look for further downside with 7185 & 7160 as targets.

Comment:

The RSI advocates for further advance.

DOW JONES

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

Pivot:49665

Our preference:

Long positions above 49665 with targets at 50040 & 50200 in extension.

Alternative scenario:

Below 49665 look for further downside with 49410 & 49250 as targets.

Comment:

The RSI advocates for further upside.