USDJPY, Gold, and the Indices led the way; for the rest, follow the resistance.

MARKET ANALYSIS

GBPUSD

GBP/USD intraday: consolidation in place.

Pivot:1.3370

Our preference:

Short positions below 1.3370 with targets at 1.3330 & 1.3315 in extension.

Alternative scenario:

Above 1.3370 look for further upside with 1.3385 & 1.3400 as targets.

Comment:

The upward potential is likely to be limited by the resistance at 1.3370.

USDJPY

USD/JPY intraday: 162.00 in sight.

Pivot:161.05

Our preference:

Long positions above 161.05 with targets at 161.65 & 162.00 in extension.

Alternative scenario:

Below 161.05 look for further downside with 160.75 & 160.50 as targets.

Comment:

The RSI is bullish and calls for further upside.

EURUSD

EUR/USD intraday: consolidation.

Pivot:1.1455

Our preference:

Short positions below 1.1455 with targets at 1.1420 & 1.1405 in extension.

Alternative scenario:

Above 1.1455 look for further upside with 1.1470 & 1.1485 as targets.

Comment:

As long as 1.1455 is resistance, look for choppy price action with a bearish bias.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (Q6)‎ intraday: consolidation in place.

Pivot:68.90

Our preference:

Short positions below 68.90 with targets at 67.90 & 67.50 in extension.

Alternative scenario:

Above 68.90 look for further upside with 69.25 & 69.70 as targets.

Comment:

The RSI calls for a drop.

GOLD

Gold intraday: further upside.

Pivot:4155

Our preference:

Long positions above 4155 with targets at 4220 & 4255 in extension.

Alternative scenario:

Below 4155 look for further downside with 4105 & 4075 as targets.

Comment:

The RSI shows upside momentum.

NASDAQ 100

Nasdaq 100 (CME)‎ (U6)‎ intraday: look for 30250.

Pivot:29750

Our preference:

Long positions above 29750 with targets at 30080 & 30250 in extension.

Alternative scenario:

Below 29750 look for further downside with 29540 & 29330 as targets.

Comment:

The RSI shows upside momentum.

S&P 500

S&P 500 (CME)‎ (U6)‎ intraday: expect 7593.

Pivot:7540

Our preference:

Long positions above 7540 with targets at 7577 & 7593 in extension.

Alternative scenario:

Below 7540 look for further downside with 7515 & 7480 as targets.

Comment:

The next resistances are at 7577 and then at 7593.

DOW JONES

Dow Jones (CME)‎ (U6)‎ intraday: look for 53490.

Pivot:53080

Our preference:

Long positions above 53080 with targets at 53400 & 53490 in extension.

Alternative scenario:

Below 53080 look for further downside with 52760 & 52580 as targets.

Comment:

The next resistances are at 53400 and then at 53490.