Trading Central--NOON MARKET UPDATE

GBP/USD Intraday:key resistance at 1.2735.

Pivot:

1.2735

Our preference:

Short positions below 1.2735 with targets at 1.2680 & 1.2660 in extension.

Alternative scenario:

Above 1.2735 look for further upside with 1.2755 & 1.2775 as targets.

Comment:

As long as the resistance at 1.2735 is not surpassed, the risk of the break below 1.2680 remains high.

USD/JPY Intraday: bullish bias above 147.35.

Pivot:

147.35

Our preference:

Long positions above 147.35 with targets at 147.90 & 148.25 in extension.

Alternative scenario:

Below 147.35 look for further downside with 147.15 & 146.90 as targets.

Comment:

The RSI advocates for further advance.

EUR/USD Intraday: watch 1.0820.

Pivot:

1.0870

Our preference:

Short positions below 1.0870 with targets at 1.0820 & 1.0800 in extension.

Alternative scenario:

Above 1.0870 look for further upside with 1.0885 & 1.0900 as targets.

Comment:

A break below 1.0820 would trigger a drop towards 1.0800.

Crude Oil (WTI)‎ (H4)‎ Intraday: the bias remains bullish.

Pivot:

76.30

Our preference:

Long positions above 76.30 with targets at 77.50 & 78.10 in extension.

Alternative scenario:

Below 76.30 look for further downside with 75.75 & 74.85 as targets.

Comment:

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

Gold Intraday:intraday support around 2011.00.

Pivot:

2011.00

Our preference:

Long positions above 2011.00 with targets at 2029.00 & 2037.00 in extension.

Alternative scenario:

Below 2011.00 look for further downside with 2004.00 & 1998.00 as targets.

Comment:

Technically the RSI is above its neutrality area at 50.

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