1. Daily technical analysis of selected currency pairs
AUD/JPY Bullish
Image Features: forms “Diamond Bottom (Bullish)” pattern
Target
Opportunity recognized 2022 Apr 11 for the period of up to 2 weeks
+0.269 (26.9 pips) price change since the Technical Event at 92.863
Technical Analysis
We found a pattern called Diamond Bottom on 2022 Apr 11 at 03:30 GMT on a 30 minute chart, providing a target price for up to 2 weeks in the range of 93.260 to 93.340.
The price crossed above its moving average on 2022 Apr 12 at 02:30 GMT signaling a new uptrend has been established.
CAD/JPY Bullish
Image Features: forms “Continuation Diamond (Bullish)” pattern
Target
Opportunity recognized 2022 Apr 08 for the period of up to 2 weeks
+0.645 (64.5 pips) price change since the Technical Event at 98.548
Technical Analysis
We found a pattern called Continuation Diamond (Bullish) on 2022 Apr 08 at 05:30 GMT on a 30 minute chart, providing a target price for up to 2 weeks in the range of 100.600 to 101.100.
The faster moving average crossed above the slower moving average on 2022 Apr 11 at 03:30 GMT, signaling a new uptrend has been established.
2. Daily Analyst’s View
EUR/USD
may fall 14 – 29 pips
Pivot
1.0895
Our preference
Short positions below 1.0895 with targets at 1.0855 & 1.0840 in extension.
Alternative scenario
Above 1.0895 look for further upside with 1.0915 & 1.0930 as targets.
Comment
The RSI calls for a new downleg.
GBP/USD
may fall 16 – 31 pips
Pivot
1.3040
Our preference
Short positions below 1.3040 with targets at 1.3000 & 1.2985 in extension.
Alternative scenario
Above 1.3040 look for further upside with 1.3055 & 1.3070 as targets.
Comment
A break below 1.3000 would trigger a drop towards 1.2985.
USD/CAD
may rise 15 – 40 pips
Pivot
1.2620
Our preference
Long positions above 1.2620 with targets at 1.2670 & 1.2695 in extension.
Alternative scenario
Below 1.2620 look for further downside with 1.2600 & 1.2575 as targets.
Comment
The RSI is bullish and calls for further advance.
Gold
may rise to 1970.00 – 1978.00
Pivot
1940.00
Our preference
Long positions above 1940.00 with targets at 1970.00 & 1978.00 in extension.
Alternative scenario
Below 1940.00 look for further downside with 1933.00 & 1927.00 as targets.
Comment
The RSI is bullish and calls for further upside.
Crude Oil (WTI)
may rise to 97.70 – 98.80
Pivot
93.90
Our preference
Long positions above 93.90 with targets at 97.70 & 98.80 in extension.
Alternative scenario
Below 93.90 look for further downside with 92.90 & 91.80 as targets.
Comment
The RSI calls for a bounce.
S&P 500 (CME)
may fall to 4365.00 – 4390.00
Pivot
4444.00
Our preference
Short positions below 4444.00 with targets at 4390.00 & 4365.00 in extension.
Alternative scenario
Above 4444.00 look for further upside with 4470.00 & 4491.00 as targets.
Comment
The RSI is bearish and calls for further downside.
Nasdaq 100 (CME)
may fall to 13680.00 – 13840.00
Pivot
14240.00
Our preference
Short positions below 14240.00 with targets at 13840.00 & 13680.00 in extension.
Alternative scenario
Above 14240.00 look for further upside with 14490.00 & 14660.00 as targets.
Comment
The RSI is bearish and calls for further decline.
Hang Seng (HKFE)
may fall to 20920.00 – 21100.00
Pivot
21550.00
Our preference
Short positions below 21550.00 with targets at 21100.00 & 20920.00 in extension.
Alternative scenario
Above 21550.00 look for further upside with 21760.00 & 21950.00 as targets.
Comment
The index currently faces a challenging resistance area at 21550.00.
Disclaimer:
This report is prepared and published by Trading Central for all clients of Doo Prime. As a third-party indicator tool, Trading Central is only for your strategic reference during the investment process and does not constitute advice or a recommendation by Doo Prime or Trading Central. Neither Doo Prime nor Trading Central are responsible to bear the relevant legal liabilities for the investment risks arising from your use of this report to make buying and selling decisions.
