Yen up, Oil down, Gold shining – and Dow? Not today.

MARKET ANALYSIS

USDJPY

USD/JPY Intraday: bullish bias above 156.20.

Pivot:

156.20

Our preference:

Long positions above 156.20 with targets at 157.35 & 157.85 in extension.

Alternative scenario:

Below 156.20 look for further downside with 155.55 & 155.00 as targets.

Comment:

The next resistances are at 157.35 and then at 157.85.

EURUSD

EUR/USD Intraday: rebound expected.

Pivot:

1.1710

Our preference:

Long positions above 1.1710 with targets at 1.1750 & 1.1770 in extension.

Alternative scenario:

Below 1.1710 look for further downside with 1.1690 & 1.1670 as targets.

Comment:

A support base at 1.1710 has formed and has allowed for a temporary stabilisation.

GBPUSD

GBP/USD Intraday: rebound expected.

Pivot:

1.3560

Our preference:

Long positions above 1.3560 with targets at 1.3615 & 1.3635 in extension.

Alternative scenario:

Below 1.3560 look for further downside with 1.3535 & 1.3505 as targets.

Comment:

A support base at 1.3560 has formed and has allowed for a temporary stabilisation.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (M6)‎ Intraday: target 98.80.

Pivot:

103.60

Our preference:

Short positions below 103.60 with targets at 98.80 & 97.00 in extension.

Alternative scenario:

Above 103.60 look for further upside with 106.00 & 108.00 as targets.

Comment:

The RSI has just struck against its neutrality area at 50% and is reversing down.

GOLD

Gold Intraday: towards 4660.

Pivot:

4585

Our preference:

Long positions above 4585 with targets at 4660 & 4695 in extension.

Alternative scenario:

Below 4585 look for further downside with 4560 & 4540 as targets.

Comment:

The RSI is mixed to bullish.

NASDAQ 100

Nasdaq 100 (CME)‎ (M6)‎ Intraday: towards 28000.

Pivot:

27660

Our preference:

Long positions above 27660 with targets at 28000 & 28150 in extension.

Alternative scenario:

Below 27660 look for further downside with 27530 & 27360 as targets.

Comment:

The next resistances are at 28000 and then at 28150.

S&P 500

S&P 500 (CME)‎ (M6)‎ Intraday: the bias remains bullish.

Pivot:

7245

Our preference:

Long positions above 7245 with targets at 7300 & 7320 in extension.

Alternative scenario:

Below 7245 look for further downside with 7225 & 7200 as targets.

Comment:

The RSI is below its neutrality area at 50% but reversing up.

DOW JONES

Dow Jones (CME)‎ (M6)‎ Intraday: aim @ 49410.

Pivot:

49865

Our preference:

Short positions below 49865 with targets at 49520 & 49410 in extension.

Alternative scenario:

Above 49865 look for further upside with 50100 & 50300 as targets.

Comment:

The RSI is below its neutrality area at 50%