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

MARKET ANALYSIS

GBPUSD

GBP/USD intraday: the upside prevails.

Pivot:

1.3400

Our preference:

Long positions above 1.3400 with targets at 1.3480 & 1.3510 in extension.

Alternative scenario:

Below 1.3400 look for further downside with 1.3380 & 1.3360 as targets.

Comment:

The RSI calls for a new upleg.

USDJPY

USD/JPY intraday: watch 159.70.

Pivot:

160.20

Our preference:

Short positions below 160.20 with targets at 159.70 & 159.50 in extension.

Alternative scenario:

Above 160.20 look for further upside with 160.35 & 160.60 as targets.

Comment:

As long as the resistance at 160.20 is not surpassed, the risk of the break below 159.70 remains high.

EURUSD

EUR/USD intraday: further advance.

Pivot:

1.1570

Our preference:

Long positions above 1.1570 with targets at 1.1620 & 1.1640 in extension.

Alternative scenario:

Below 1.1570 look for further downside with 1.1555 & 1.1540 as targets.

Comment:

The RSI is bullish and calls for further upside.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (Q6)‎ intraday: the downside prevails.

Pivot:

82.60

Our preference:

Short positions below 82.60 with targets at 78.50 & 76.50 in extension.

Alternative scenario:

Above 82.60 look for further upside with 85.50 & 87.10 as targets.

Comment:

The RSI has broken down its 30 level.

GOLD

Gold intraday: the upside prevails.

Pivot:

4210

Our preference:

Long positions above 4210 with targets at 4350 & 4385 in extension.

Alternative scenario:

Below 4210 look for further downside with 4170 & 4110 as targets.

Comment:

The RSI shows upside momentum.

DOW JONES

Dow Jones (CME)‎ (U6)‎ intraday: further advance.

Pivot:

51450

Our preference:

Long positions above 51450 with targets at 52200 & 52500 in extension.

Alternative scenario:

Below 51450 look for further downside with 51200 & 50800 as targets.

Comment:

The RSI advocates for further upside.

NASDAQ 100

Nasdaq 100 (CME)‎ (U6)‎ intraday: the upside prevails.

Pivot:

29880

Our preference:

Long positions above 29880 with targets at 30600 & 30900 in extension.

Alternative scenario:

Below 29880 look for further downside with 29570 & 29230 as targets.

Comment:

The RSI shows upside momentum.

S&P 500

S&P 500 (CME)‎ (U6)‎ intraday: the upside prevails.

Pivot:

7485

Our preference:

Long positions above 7485 with targets at 7590 & 7635 in extension.

Alternative scenario:

Below 7485 look for further downside with 7430 & 7400 as targets.

Comment:

The RSI shows upside momentum.