Trading Central--NOON MARKET UPDATE

GBP/USD Intraday:bullish bias above 1.2655.

Pivot:

1.2655

Our preference:

Long positions above 1.2655 with targets at 1.2715 & 1.2735 in extension.

Alternative scenario:

Below 1.2655 look for further downside with 1.2635 & 1.2615 as targets.

Comment:

Technically the RSI is above its neutrality area at 50.

USD/JPY Intraday: bullish bias above 147.60.

Pivot:

147.60

Our preference:

Long positions above 147.60 with targets at 148.50 & 148.80 in extension.

Alternative scenario:

Below 147.60 look for further downside with 147.30 & 147.05 as targets.

Comment:

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

EUR/USD Intraday: rebound.

Pivot:

1.0865

Our preference:

Long positions above 1.0865 with targets at 1.0915 & 1.0935 in extension.

Alternative scenario:

Below 1.0865 look for further downside with 1.0845 & 1.0825 as targets.

Comment:

The RSI calls for a rebound.

Crude Oil (WTI)‎ (G4)‎ Intraday: further advance.

Pivot:

72.00

Our preference:

Long positions above 72.00 with targets at 73.35 & 73.80 in extension.

Alternative scenario:

Below 72.00 look for further downside with 71.40 & 70.75 as targets.

Comment:

The next resistances are at 73.35 and then at 73.80.

Gold Intraday:key resistance at 2017.00.

Pivot:

2017.00

Our preference:

Short positions below 2017.00 with targets at 2001.00 & 1995.00 in extension.

Alternative scenario:

Above 2017.00 look for further upside with 2023.00 & 2029.00 as targets.

Comment:

As long as the resistance at 2017.00 is not surpassed, the risk of the break below 2001.00 remains high.

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