1. Daily technical analysis of selected currency pairs
GBP/CAD Bearish
Image Features: forms “Hanging Man” pattern
Target
Opportunity recognized 2021 May 28 for the period of up to 12 hours
+0.00032 (3.2 pips) price change since the Technical Event at 1.71424
Technical Analysis
We found a pattern called Hanging Man on 2021 May 28 at 00:00 GMT on a 30 minute chart suggesting the outlook is bearish for up to 12 hours.
The MACD generated a bearish signal on 2021 May 28 at 01:00 GMT.
EUR/CHF Bullish
Image Features: forms “Outside Bar (Bullish)” pattern
Target
Opportunity recognized 2021 May 27 for the period of up to 48 hours
-0.00046 (4.6 pips) price change since the Technical Event at 1.09465
Technical Analysis
We found a pattern called Outside Bar (Bullish) on 2021 May 27 at 09:00 GMT on a 4 hour chart suggesting the outlook is bullish for up to 48 hours.
The Williams %R indicator triggered a bullish signal on 2021 May 27 at 13:00 GMT, having risen up out of oversold (-80 level) and continued on to cross above the -50 level.
2. Daily Analyst’s View
EUR/USD
may fall 9 – 24 pips
Pivot
1.2200
Our preference
Short positions below 1.2200 with targets at 1.2175 & 1.2160 in extension.
Alternative scenario
Above 1.2200 look for further upside with 1.2215 & 1.2230 as targets.
Comment
A break below 1.2175 would trigger a drop towards 1.2160.
GBP/USD
may fall 18 – 38 pips
Pivot
1.4215
Our preference
Short positions below 1.4215 with targets at 1.4170 & 1.4150 in extension.
Alternative scenario
Above 1.4215 look for further upside with 1.4235 & 1.4260 as targets.
Comment
As long as the resistance at 1.4215 is not surpassed, the risk of the break below 1.4170 remains high.
USD/CAD
may fall 20 – 40 pips
Pivot
1.2095
Our preference
Short positions below 1.2095 with targets at 1.2060 & 1.2040 in extension.
Alternative scenario
Above 1.2095 look for further upside with 1.2120 & 1.2140 as targets.
Comment
The upward potential is likely to be limited by the resistance at 1.2095.
Gold
may rise to 1904.00 – 1913.00
Pivot
1888.00
Our preference
Long positions above 1888.00 with targets at 1904.00 & 1913.00 in extension.
Alternative scenario
Below 1888.00 look for further downside with 1879.00 & 1872.00 as targets.
Comment
A support base at 1888.00 has formed and has allowed for a temporary stabilisation.
Crude Oil (WTI)
may rise to 68.00 – 68.60
Pivot
66.35
Our preference
Long positions above 66.35 with targets at 68.00 & 68.60 in extension.
Alternative scenario
Below 66.35 look for further downside with 65.95 & 65.50 as targets.
Comment
The RSI advocates for further advance.
S&P 500 (CME)
may rise to 4230.00 – 4240.00
Pivot
4194.00
Our preference
Long positions above 4194.00 with targets at 4230.00 & 4240.00 in extension.
Alternative scenario
Below 4194.00 look for further downside with 4178.00 & 4165.00 as targets.
Comment
The RSI shows upside momentum.
Nasdaq 100 (CME)
may rise to 13740.00 – 13815.00
Pivot
13620.00
Our preference
Long positions above 13620.00 with targets at 13740.00 & 13815.00 in extension.
Alternative scenario
Below 13620.00 look for further downside with 13550.00 & 13495.00 as targets.
Comment
The RSI calls for a new upleg.
FTSE China A50
may rise to 18662.50 – 18780.00
Our pivot point stands at 18152.50.
Our preference
As long as 18152.50 is support look for 18662.50.
Alternative scenario
Below 18152.50, expect 17952.50 and 17835.
Comment
The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. Prices could retrace in the short term. FTSE China A50 index is above its 20 and 50 period moving average (respectively at 18268.56 and 17977.87).
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.
