Trading Central--NOON MARKET UPDATE

EUR/USD Intraday: the upside prevails.

Pivot:

1.0495

Our preference:

Long positions above 1.0495 with targets at 1.0545 & 1.0565 in extension.

Alternative scenario:

Below 1.0495 look for further downside with 1.0480 & 1.0465 as targets.

Comment:

The RSI calls for a new upleg.

GBP/USD Intraday: the upside prevails.

Pivot:

1.2125

Our preference:

Long positions above 1.2125 with targets at 1.2195 & 1.2215 in extension.

Alternative scenario:

Below 1.2125 look for further downside with 1.2105 & 1.2085 as targets.

Comment:

The RSI advocates for further upside.

USD/JPY Intraday: key resistance at 148.90.

Pivot:

148.90

Our preference:

Short positions below 148.90 with targets at 148.00 & 147.60 in extension.

Alternative scenario:

Above 148.90 look for further upside with 149.30 & 149.65 as targets.

Comment:

As long as 148.90 is resistance, look for choppy price action with a bearish bias.

Crude Oil (WTI)‎ (V3)‎ Intraday: the downside prevails.

Pivot:

85.50

Our preference:

Short positions below 85.50 with targets at 83.50 & 82.45 in extension.

Alternative scenario:

Above 85.50 look for further upside with 86.90 & 87.80 as targets.

Comment:

As long as 85.50 is resistance, likely decline to 83.50.

Gold Intraday: rebound.

Pivot:

1817.00

Our preference:

Long positions above 1817.00 with targets at 1833.00 & 1839.00 in extension.

Alternative scenario:

Below 1817.00 look for further downside with 1810.00 & 1805.00 as targets.

Comment:

The RSI calls for a rebound.