Risk-On: FX (Excl. Gold), Oil & Stocks Climb

MARKET ANALYSIS

USDJPY

USD/JPY intraday : Trend at a crossroads

Our pivot point is at 159.19.

Our preference:

The upside prevails as long as 159.19 is support, with 159.93 and 160.13 as targets

Alternative scenario:

Below 159.19, expect 158.85 and 158.65.

Comment:

The asset price is approaching our pivot level, which represents one of the last opportunities for the asset to reverse its recent trend.

EURUSD

EUR/USD intraday : The upside prevails as long as 1.1635 is support

Our pivot point is at 1.1635.

Our preference:

The upside prevails as long as 1.1635 is support, with 1.1682 and 1.1695 as targets

Alternative scenario:

Below 1.1635, expect 1.1613 and 1.1599.

Comment:

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. The price is above its 20 and 50 period moving average (respectively at 1.1651 and 1.1651).

GBPUSD

GBP/USD intraday : The upside prevails as long as 1.3570 is support

Our pivot point is at 1.3570.

Our preference:

The upside prevails as long as 1.3570 is support, with 1.3637 and 1.3656 as targets

Alternative scenario:

Below 1.3570, expect 1.3538 and 1.3519.

Comment:

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. The price is above its 20 and 50 period moving average (respectively at 1.3591 and 1.3589).

CRUDE OIL

Crude Oil (WTI)‎ (V6)‎ intraday: rebound.

Pivot:

82.00

Our preference:

Long positions above 82.00 with targets at 84.70 & 85.80 in extension.

Alternative scenario:

Below 82.00 look for further downside with 80.60 & 79.60 as targets.

Comment:

The RSI calls for a rebound.

GOLD

Gold intraday : Towards 4,518

Our pivot point is at 4,640.

Our preference:

The downside prevails as long as 4,640 is resistance, with 4,518 and 4,487 as targets

Alternative scenario:

Above 4,640, look for 4,692 and 4,722.

Comment:

The RSI is below its neutrality area at 50. The price stands below its 20 and 50 period moving average (respectively at 4,602 and 4,606).

DOW JONES

Dow Jones (CME)‎ (U6)‎ intraday: the bias remains bullish.

Pivot:

53370

Our preference:

Long positions above 53370 with targets at 53790 & 54080 in extension.

Alternative scenario:

Below 53370 look for further downside with 53200 & 53030 as targets.

Comment:

The RSI is mixed to bullish.

NASDAQ 100

Nasdaq 100 (CME)‎ (U6)‎ intraday: bullish bias above 29400.

Pivot:

29400

Our preference:

Long positions above 29400 with targets at 29760 & 30000 in extension.

Alternative scenario:

Below 29400 look for further downside with 29330 & 29100 as targets.

Comment:

The RSI is mixed with a bullish bias.

S&P 500

S&P 500 (CME)‎ (U6)‎ intraday: the bias remains bullish.

Pivot:

7696

Our preference:

Long positions above 7696 with targets at 7765 & 7797 in extension.

Alternative scenario:

Below 7696 look for further downside with 7671 & 7656 as targets.

Comment:

The RSI is mixed to bullish.