Market Daily Update 7 July 2023

EUR/USD Intraday: bullish bias above 1.0865.

Pivot:

1.0865

Our preference:

Long positions above 1.0865 with targets at 1.0905 & 1.0920 in extension.

Alternative scenario:

Below 1.0865 look for further downside with 1.0850 & 1.0835 as targets.

Comment:

The RSI is bullish and calls for further upside.

USD/JPY Intraday: the downside prevails.


Pivot:

144.05

Our preference:

Short positions below 144.05 with targets at 143.30 & 143.00 in extension.

Alternative scenario:

Above 144.05 look for further upside with 144.30 & 144.65 as targets.

Comment:

The RSI is bearish and calls for further decline.

GBP/USD Intraday: intraday support is around 1.2710.

Pivot:

1.2710

Our preference:

Long positions above 1.2710 with targets at 1.2760 & 1.2780 in extension.

Alternative scenario:

Below 1.2710 look for further downside with 1.2685 & 1.2660 as targets.

Comment:

The RSI lacks downward momentum.

Gold Intraday:key resistance at 1917.00.

Pivot:

1917.00

Our preference:

Short positions below 1917.00 with targets at 1902.00 & 1896.00 in extension.

Alternative scenario:

Above 1917.00 look for further upside with 1921.00 & 1927.00 as targets.

Comment:

As long as the resistance at 1917.00 is not surpassed, the risk of a break below 1902.00 remains high.

Crude Oil (WTI)‎ (Q3)‎ Intraday: further upside.

Pivot:

71.30

Our preference:

Long positions above 71.30 with targets at 72.65 & 73.00 in extension.

Alternative scenario:

Below 71.30 look for further downside with 70.80 & 70.25 as targets.

Comment:

The RSI advocates for further upside.

Nasdaq 100 (CME)‎ (U3)‎ Intraday: key resistance at 15265.00.

Pivot:

15265.00

Our preference:

Short positions below 15265.00 with targets at 15120.00 & 15060.00 in extension.

Alternative scenario:

Above 15265.00 look for further upside with 15365.00 & 15430.00 as targets.

Comment:

As long as the resistance at 15265.00 is not surpassed, the risk of a break below 15120.00 remains high.

Dax (Eurex)‎ Intraday: intraday support around 15520.00.

Pivot:

16520.00

Our preference:

Long positions above 15520.00 with targets at 15750.00 & 15840.00 in extension.

Alternative scenario:

Below 15520.00 look for further downside with 15405.00 & 15320.00 as targets.

Comment:

The RSI has broken up its 30 levels.

Dow Jones (CME)‎ (U3)‎ Intraday: key resistance at 34220.00.

Pivot:

34220.00

Our preference:

Short positions below 34220.00 with targets at 33990.00 & 33900.00 in extension.

Alternative scenario:

Above 34220.00 look for further upside with 34310.00 & 34430.00 as targets.

Comment:

The RSI is below its neutrality area at 50%

Bitcoin / Dollar intraday: rebound towards 30870

Our pivot point is at 29780.

Our preference:

Rebound towards 30870.

Alternative scenario:

Below 29780, expect 29370 and 29120.

Comment:

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 30145 and 30437).

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Hello. I am a Forex Trader. I live in a small town somewhere in the world. She persistently works hard each day and aims at learning and experiencing new things every day.

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