Euro, Pound, Gold, and Indices lead a broad market rally this morning.

MARKET ANALYSIS

USDJPY

USD/JPY intraday: the downside prevails.

Pivot:160.35

Our preference:

Short positions below 160.35 with targets at 159.85 & 159.65 in extension.

Alternative scenario:

Above 160.35 look for further upside with 160.60 & 160.80 as targets.

Comment:

The RSI is below its neutrality area at 50%

EURUSD

EUR/USD intraday: further advance.

Pivot:1.1545

Our preference:

Long positions above 1.1545 with targets at 1.1600 & 1.1620 in extension.

Alternative scenario:

Below 1.1545 look for further downside with 1.1525 & 1.1505 as targets.

Comment:

The RSI advocates for further upside.

GBPUSD

GBP/USD intraday: the bias remains bullish.

Pivot:1.3375

Our preference:

Long positions above 1.3375 with targets at 1.3435 & 1.3460 in extension.

Alternative scenario:

Below 1.3375 look for further downside with 1.3350 & 1.3325 as targets.

Comment:

The RSI is above its neutrality area at 50%.

CRUDE OIL

Crude Oil (WTI)‎ (N6)‎ intraday: towards 82.50.

Pivot:88.90

Our preference:

Short positions below 88.90 with targets at 84.50 & 82.50 in extension.

Alternative scenario:

Above 88.90 look for further upside with 91.40 & 93.60 as targets.

Comment:

The RSI has broken down its 30 level.

GOLD

Gold intraday: bullish bias above 4160.

Pivot:4160

Our preference:

Long positions above 4160 with targets at 4270 & 4315 in extension.

Alternative scenario:

Below 4160 look for further downside with 4110 & 4060 as targets.

Comment:

The next resistances are at 4270 and then at 4315.

DOW JONES

Dow Jones (CME)‎ (M6)‎ intraday: bullish bias above 50730.

Pivot:50730

Our preference:

Long positions above 50730 with targets at 51140 & 51320 in extension.

Alternative scenario:

Below 50730 look for further downside with 50400 & 50140 as targets.

Comment:

The next resistances are at 51140 and then at 51320.

NASDAQ 100

Nasdaq 100 (CME)‎ (M6)‎ intraday: bullish bias above 29140.

Pivot:29140

Our preference:

Long positions above 29140 with targets at 29740 & 30080 in extension.

Alternative scenario:

Below 29140 look for further downside with 28600 & 28270 as targets.

Comment:

The break above 29140 is a positive signal that has opened a path to 29740.

S&P 500

S&P 500 (CME)‎ (M6)‎ intraday: aim @ 7470.

Pivot:7340

Our preference:

Long positions above 7340 with targets at 7470 & 7530 in extension.

Alternative scenario:

Below 7340 look for further downside with 7270 & 7245 as targets.

Comment:

The break above 7340 is a positive signal that has opened a path to 7470.