1. Daily technical analysis of selected currency pairs
AUD/JPY Bullish
Image Features: forms “Megaphone Bottom (Bullish)” pattern
Target
Opportunity recognized 2021 Dec 23 for the period of up to 2 weeks
+0.675 (67.5 pips) price change since the Technical Event at 82.435
Technical Analysis
We found a pattern called Megaphone Bottom on 2021 Dec 23 at 09:00 GMT on a 4 hour chart, providing a target price for up to 2 weeks in the range of 84.400 to 84.800.
The faster moving average crossed above the slower moving average on 2021 Dec 27 at 17:00 GMT, signaling a new uptrend has been established.
EUR/JPY Bullish
Image Features: forms “Triple Bottom (Bullish)” pattern
Target
Opportunity recognized 2021 Dec 08 for the period of up to 2 weeks
+1.258 (125.8 pips) price change since the Technical Event at 128.782
Technical Analysis
We found a pattern called Triple Bottom on 2021 Dec 08 at 17:00 GMT on a 4 hour chart, providing a target price for up to 2 weeks in the range of 130.000 to 130.300.
The faster moving average crossed above the slower moving average on 2021 Dec 27 at 17:00 GMT, signaling a new uptrend has been established.
2. Daily Analyst’s View
EUR/USD
may rise 17 – 32 pips
Pivot
1.1305
Our preference
Long positions above 1.1305 with targets at 1.1345 & 1.1360 in extension.
Alternative scenario
Below 1.1305 look for further downside with 1.1290 & 1.1275 as targets.
Comment
The RSI calls for a bounce.
GBP/USD
may rise 29 – 49 pips
Pivot
1.3410
Our preference
Long positions above 1.3410 with targets at 1.3470 & 1.3490 in extension.
Alternative scenario
Below 1.3410 look for further downside with 1.3390 & 1.3370 as targets.
Comment
The RSI is bullish and calls for further upside.
USD/CAD
may fall 30 – 50 pips
Pivot
1.2820
Our preference
Short positions below 1.2820 with targets at 1.2760 & 1.2740 in extension.
Alternative scenario
Above 1.2820 look for further upside with 1.2835 & 1.2850 as targets.
Comment
The RSI is bearish and calls for further decline.
Gold
may rise to 1820.00 – 1827.00
Pivot
1802.00
Our preference
Long positions above 1802.00 with targets at 1820.00 & 1827.00 in extension.
Alternative scenario
Below 1802.00 look for further downside with 1795.00 & 1788.00 as targets.
Comment
The RSI calls for a new upleg.
Crude Oil (WTI)
may rise to 77.15 – 78.55
Pivot
73.90
Our preference
Long positions above 73.90 with targets at 77.15 & 78.55 in extension.
Alternative scenario
Below 73.90 look for further downside with 72.55 & 70.95 as targets.
Comment
The RSI is bullish and calls for further upside.
S&P 500 (CME)
may rise to 4796.00 – 4834.00
Pivot
4755.00
Our preference
Long positions above 4755.00 with targets at 4796.00 & 4834.00 in extension.
Alternative scenario
Below 4755.00 look for further downside with 4714.00 & 4677.00 as targets.
Comment
The RSI is bullish and calls for further upside.
Nasdaq 100 (CME)
may rise to 16630.00 – 16760.00
Pivot
16425.00
Our preference
Long positions above 16425.00 with targets at 16630.00 & 16760.00 in extension.
Alternative scenario
Below 16425.00 look for further downside with 16290.00 & 16130.00 as targets.
Comment
The RSI is bullish and calls for further upside.
Hang Seng (HKFE)
may rise to 23385.00 – 23500.00
Pivot
23105.00
Our preference
Long positions above 23105.00 with targets at 23385.00 & 23500.00 in extension.
Alternative scenario
Below 23105.00 look for further downside with 22990.00 & 22900.00 as targets.
Comment
Even though a continuation of the consolidation 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.
