1. Daily technical analysis of selected currency pairs



AUD/JPY Bearish

Image Features: forms “Downside Breakout (Bearish)” pattern

Target
Opportunity recognized 2022 Apr 07 for the period of up to 48 hours
-0.083 (8.3 pips) price change since the Technical Event at 92.747

Technical Analysis

We found a pattern called Downside Breakout on 2022 Apr 07 at 00:45 GMT on a 15 minute chart, providing a target price for up to 48 hours in the range of 92.350 to 92.430.

The faster moving average crossed below the slower moving average on 2022 Apr 06 at 21:00 GMT, signaling a new downtrend has been established.

CAD/JPY Bullish

Image Features: forms “Inside Bar (Bullish)” pattern

Target
Opportunity recognized 2022 Apr 07 for the period of up to 12 hours
-0.006 (0.6 pips) price change since the Technical Event at 98.402

Technical Analysis

We found a pattern called Inside Bar (Bullish) on 2022 Apr 07 at 01:00 GMT on a 15 minute chart suggesting the outlook is bullish for up to 12 hours.

A bullish event triggered for Slow Stochastics on 2022 Apr 07 at 01:15 GMT when the %K line crossed above the %D line. The close prices are trading closer to the upper end of the recent high-low price range, which is associated with price increases.

2. Daily Analyst’s View

EUR/USD

may fall 27 – 42 pips

Pivot
1.0925

Our preference
Short positions below 1.0925 with targets at 1.0875 & 1.0860 in extension.

Alternative scenario
Above 1.0925 look for further upside with 1.0940 & 1.0955 as targets.

Comment
As long as 1.0925 is resistance, look for choppy price action with a bearish bias.

GBP/USD

may fall 31 – 46 pips

Pivot
1.3095

Our preference
Short positions below 1.3095 with targets at 1.3045 & 1.3030 in extension.

Alternative scenario
Above 1.3095 look for further upside with 1.3110 & 1.3125 as targets.

Comment
As long as the resistance at 1.3095 is not surpassed, the risk of the break below 1.3045 remains high.

USD/CAD

may rise 29 – 49 pips

Pivot
1.2520

Our preference
Long positions above 1.2520 with targets at 1.2590 & 1.2610 in extension.

Alternative scenario
Below 1.2520 look for further downside with 1.2500 & 1.2480 as targets.

Comment
The RSI is bullish and calls for further upside.

Gold

may fall to 1907.00 – 1915.00

Pivot
1930.00

Our preference
Short positions below 1930.00 with targets at 1915.00 & 1907.00 in extension.

Alternative scenario
Above 1930.00 look for further upside with 1937.00 & 1944.00 as targets.

Comment
Intraday technical indicators are mixed.

Crude Oil (WTI)

may fall to 92.70 – 95.70

Pivot
99.40

Our preference
Short positions below 99.40 with targets at 95.70 & 92.70 in extension.

Alternative scenario
Above 99.40 look for further upside with 101.60 & 104.00 as targets.

Comment
As long as the resistance at 99.40 is not surpassed, the risk of the break below 95.70 remains high.

S&P 500 (CME)

may fall to 4415.00 – 4439.00

Pivot
4500.00

Our preference
Short positions below 4500.00 with targets at 4439.00 & 4415.00 in extension.

Alternative scenario
Above 4500.00 look for further upside with 4536.00 & 4555.00 as targets.

Comment
The RSI calls for a drop.

Nasdaq 100 (CME)

may fall to 14180.00 – 14300.00

Pivot
14660.00

Our preference
Short positions below 14660.00 with targets at 14300.00 & 14180.00 in extension.

Alternative scenario
Above 14660.00 look for further upside with 14780.00 & 14930.00 as targets.

Comment
The RSI is bearish and calls for further downside.

Hang Seng (HKFE)

may fall to 21550.00 – 21750.00

Pivot
22250.00

Our preference
Short positions below 22250.00 with targets at 21750.00 & 21550.00 in extension.

Alternative scenario
Above 22250.00 look for further upside with 22400.00 & 22670.00 as targets.

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

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.