Diverging Markets: Gold/Oil/Stocks Higher; USDJPY/EUR/GBP Lower

MARKET ANALYSIS

USDJPY

USD/JPY intraday : Pivotal moment

Our pivot point is at 159.05.

Our preference:

The downside prevails as long as 159.05 is resistance, with 158.25 and 158.07 as targets

Alternative scenario:

Above 159.05, look for 159.37 and 159.55.

Comment:

The asset is now hovering dangerously close to our pivot, representing a pivotal moment that could be among the last opportunities for a trend reversal.

EURUSD

EUR/USD intraday : Aim at 1.1562

Our pivot point is at 1.1614.

Our preference:

The downside prevails as long as 1.1614 is resistance, with 1.1562 and 1.1548 as targets

Alternative scenario:

Above 1.1614, look for 1.1636 and 1.1650.

Comment:

The RSI is below its neutrality area at 50. The price is below its 20 period moving average (1.1589) but above its 50 period moving average (1.1583).

GBPUSD

GBP/USD intraday : Watching for a Trigger Below Support

Our pivot point is at 1.3535.

Our preference:

The downside prevails as long as 1.3535 is resistance, with 1.3475 and 1.3460 as targets

Alternative scenario:

Above 1.3535, look for 1.3561 and 1.3577.

Comment:

The approach toward our first target represents a key level to monitor, it may trigger pressure for a pullback, though a firm close below this threshold could lead prices lower.

CRUDE OIL

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

Pivot:

89.00

Our preference:

Long positions above 89.00 with targets at 92.30 & 93.30 in extension.

Alternative scenario:

Below 89.00 look for further downside with 88.40 & 86.70 as targets.

Comment:

The RSI is bullish and calls for further advance.

GOLD

Gold intraday : Watch 4,440

Our pivot point is at 4,327.

Our preference:

The upside prevails as long as 4,327 is support, with 4,440 and 4,469 as targets

Alternative scenario:

Below 4,327, expect 4,277 and 4,248.

Comment:

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The price is above its 20 and 50 period moving average (respectively at 4,380 and 4,343).

DOW JONES

Dow Jones (CME)‎ (U6)‎ intraday: towards 53550.

Pivot:

52900

Our preference:

Long positions above 52900 with targets at 53340 & 53550 in extension.

Alternative scenario:

Below 52900 look for further downside with 52720 & 52490 as targets.

Comment:

The RSI is mixed with a bullish bias.

NASDAQ 100

Nasdaq 100 (CME)‎ (U6)‎ intraday: aim @ 28920.

Pivot:

29320

Our preference:

Short positions below 29320 with targets at 28920 & 28800 in extension.

Alternative scenario:

Above 29320 look for further upside with 29570 & 29810 as targets.

Comment:

The RSI is mixed with a bearish bias.

S&P 500

S&P 500 (CME)‎ (U6)‎ intraday: watch 7718.

Pivot:

7648

Our preference:

Long positions above 7648 with targets at 7718 & 7755 in extension.

Alternative scenario:

Below 7648 look for further downside with 7621 & 7600 as targets.

Comment:

The RSI is mixed with a bullish bias.