1. Daily technical analysis of selected currency pairs
AUD/JPY Bearish
Image Features: forms “Inside Bar (Bearish)” pattern
Target
Opportunity recognized 2022 Mar 22 for the period of up to 12 hours
-0.013 (1.3 pips) price change since the Technical Event at 88.551
Technical Analysis
We found a pattern called Inside Bar (Bearish) on 2022 Mar 22 at 01:15 GMT on a 15 minute chart suggesting the outlook is bearish for up to 12 hours.
The MACD generated a bearish signal on 2022 Mar 22 at 02:00 GMT.
CAD/JPY Bullish
Image Features: forms “Continuation Diamond (Bullish)” pattern
Target
Opportunity recognized 2022 Feb 23 for the period of up to 2 weeks
+4.788 (478.8 pips) price change since the Technical Event at 90.449
Technical Analysis
We found a pattern called Continuation Diamond (Bullish) on 2022 Feb 23 at 09:00 GMT on a 4 hour chart, providing a target price for up to 2 weeks in the range of 92.800 to 93.300.
The price crossed above its moving average on 2022 Mar 10 at 17:00 GMT signaling a new uptrend has been established.
2. Daily Analyst’s View
EUR/USD
may fall 26 – 46 pips
Pivot
1.1025
Our preference
Short positions below 1.1025 with targets at 1.0970 & 1.0950 in extension.
Alternative scenario
Above 1.1025 look for further upside with 1.1050 & 1.1070 as targets.
Comment
The RSI shows downside momentum.
GBP/USD
may fall 18 – 38 pips
Pivot
1.3175
Our preference
Short positions below 1.3175 with targets at 1.3125 & 1.3105 in extension.
Alternative scenario
Above 1.3175 look for further upside with 1.3195 & 1.3210 as targets.
Comment
A break below 1.3125 would trigger a drop towards 1.3105.
USD/CAD
may fall 15 – 30 pips
Pivot
1.2610
Our preference
Short positions below 1.2610 with targets at 1.2580 & 1.2565 in extension.
Alternative scenario
Above 1.2610 look for further upside with 1.2625 & 1.2640 as targets.
Comment
As long as 1.2610 is resistance, look for choppy price action with a bearish bias.
Gold
may rise to 1944.00 – 1950.00
Pivot
1926.00
Our preference
Long positions above 1926.00 with targets at 1944.00 & 1950.00 in extension.
Alternative scenario
Below 1926.00 look for further downside with 1917.00 & 1909.00 as targets.
Comment
The RSI has just landed on its neutrality area at 50% and is turning up.
Crude Oil (WTI)
may rise to 116.30 – 118.20
Pivot
109.40
Our preference
Long positions above 109.40 with targets at 116.30 & 118.20 in extension.
Alternative scenario
Below 109.40 look for further downside with 106.80 & 104.60 as targets.
Comment
The immediate trend remains up and the momentum is strong.
S&P 500 (CME)
may rise to 4510.00 – 4543.00
Pivot
4397.00
Our preference
Long positions above 4397.00 with targets at 4510.00 & 4543.00 in extension.
Alternative scenario
Below 4397.00 look for further downside with 4340.00 & 4290.00 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Nasdaq 100 (CME)
may rise to 14660.00 – 14815.00
Pivot
14140.00
Our preference
Long positions above 14140.00 with targets at 14660.00 & 14815.00 in extension.
Alternative scenario
Below 14140.00 look for further downside with 13970.00 & 13845.00 as targets.
Comment
The next resistances are at 14660.00 and then at 14815.00.
Hang Seng (HKFE)
may fall to 20860.00 – 21150.00
Pivot
21640.00
Our preference
Short positions below 21640.00 with targets at 21150.00 & 20860.00 in extension.
Alternative scenario
Above 21640.00 look for further upside with 22200.00 & 22800.00 as targets.
Comment
Intraday technical indicators lack momentum.
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.
