FOREX & Oil Up; Gold & Stocks Under Pressure

MARKET ANALYSIS

USDJPY

USD/JPY intraday : 156.53 in sight

Our pivot point is at 155.73.

Our preference:

Rebound towards 156.72

Alternative scenario:

Below 155.73, expect 155.41 and 155.23.

Comment:

The MACD is above its signal line and positive.

EURUSD

EUR/USD intraday : Expect 1.1641

Our pivot point is at 1.1586.

Our preference:

The upside prevails as long as 1.1586 is support, with 1.1641 and 1.1655 as targets

Alternative scenario:

Below 1.1586, expect 1.1563 and 1.1550.

Comment:

The price stands above its 20 period moving average (1.1614) but below its 50 period moving average (1.1620).

GBPUSD

GBP/USD intraday : Trend at a crossroads

Our pivot point is at 1.3498.

Our preference:

The upside prevails as long as 1.3498 is support, with 1.3572 and 1.3587 as targets

Alternative scenario:

Below 1.3498, expect 1.3472 and 1.3457.

Comment:

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

CRUDE OIL

Crude Oil (WTI)‎ (V6)‎ intraday: 94.60 expected.

Pivot:

88.70

Our preference:

Long positions above 88.70 with targets at 93.10 & 94.60 in extension.

Alternative scenario:

Below 88.70 look for further downside with 87.55 & 86.30 as targets.

Comment:

The RSI calls for a new upleg.

GOLD

Gold intraday : Aim at 4,363

Our pivot point is at 4,488.

Our preference:

The downside prevails as long as 4,488 is resistance, with 4,363 and 4,333 as targets

Alternative scenario:

Above 4,488, look for 4,538 and 4,568.

Comment:

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The price stands above its 20 period moving average (4,427) but below its 50 period moving average (4,455).

DOW JONES

Dow Jones (CME)‎ (U6)‎ intraday: under pressure.

Pivot:

53670

Our preference:

Short positions below 53670 with targets at 53110 & 52900 in extension.

Alternative scenario:

Above 53670 look for further upside with 53830 & 54120 as targets.

Comment:

The RSI shows downside momentum.

NASDAQ 100

Nasdaq 100 (CME)‎ (U6)‎ intraday: consolidation.

Pivot:

29700

Our preference:

Short positions below 29700 with targets at 29370 & 29230 in extension.

Alternative scenario:

Above 29700 look for further upside with 29810 & 29920 as targets.

Comment:

The RSI is mixed with a bearish bias.

S&P 500

S&P 500 (CME)‎ (U6)‎ intraday: consolidation in place.

Pivot:

7750

Our preference:

Short positions below 7750 with targets at 7690 & 7661 in extension.

Alternative scenario:

Above 7750 look for further upside with 7766 & 7800 as targets.

Comment:

The RSI lacks upward momentum.