1. Daily technical analysis of selected currency pairs
AUD/JPY Bullish
Image Features: forms “Continuation Diamond (Bullish)” pattern
Target
Opportunity recognized 2022 Feb 07 for the period of up to 2 weeks
+0.574 (57.4 pips) price change since the Technical Event at 81.818
Technical Analysis
We found a pattern called Continuation Diamond (Bullish) on 2022 Feb 07 at 17:00 GMT on a 4 hour chart, providing a target price for up to 2 weeks in the range of 83.500 to 83.900.
The price crossed above its moving average on 2022 Feb 14 at 01:00 GMT signaling a new uptrend has been established.
EUR/JPY Bearish
Image Features: forms “Megaphone Top (Bearish)” pattern
Target
Opportunity recognized 2022 Feb 11 for the period of up to 2 weeks
-0.290 (29 pips) price change since the Technical Event at 131.250
Technical Analysis
We found a pattern called Megaphone Top on 2022 Feb 11 at 21:00 GMT on a 4 hour chart, providing a target price for up to 2 weeks in the range of 129.200 to 129.500.
The price crossed below its moving average on 2022 Feb 11 at 21:00 GMT signaling a new downtrend has been established.
2. Daily Analyst’s View
EUR/USD
may fall 24 – 44 pips
Pivot
1.1390
Our preference
Short positions below 1.1390 with targets at 1.1330 & 1.1310 in extension.
Alternative scenario
Above 1.1390 look for further upside with 1.1410 & 1.1430 as targets.
Comment
As long as the resistance at 1.1390 is not surpassed, the risk of the break below 1.1330 remains high.
GBP/USD
may fall 27 – 47 pips
Pivot
1.3590
Our preference
Short positions below 1.3590 with targets at 1.3530 & 1.3510 in extension.
Alternative scenario
Above 1.3590 look for further upside with 1.3610 & 1.3630 as targets.
Comment
As long as 1.3590 is resistance, look for choppy price action with a bearish bias.
USD/CAD
may fall 30 – 50 pips
Pivot
1.2755
Our preference
Short positions below 1.2755 with targets at 1.2690 & 1.2670 in extension.
Alternative scenario
Above 1.2755 look for further upside with 1.2770 & 1.2785 as targets.
Comment
The RSI calls for a drop.
Gold
may rise to 1870.00 – 1880.00
Pivot
1842.00
Our preference
Long positions above 1842.00 with targets at 1870.00 & 1880.00 in extension.
Alternative scenario
Below 1842.00 look for further downside with 1832.00 & 1824.00 as targets.
Comment
The immediate trend remains up and the momentum is strong.
Crude Oil (WTI)
may rise to 95.65 – 97.00
Pivot
92.75
Our preference
Long positions above 92.75 with targets at 95.65 & 97.00 in extension.
Alternative scenario
Below 92.75 look for further downside with 91.70 & 90.90 as targets.
Comment
The next resistances are at 95.65 and then at 97.00.
S&P 500 (CME)
may fall to 4312.00 – 4339.00
Pivot
4455.00
Our preference
Short positions below 4455.00 with targets at 4339.00 & 4312.00 in extension.
Alternative scenario
Above 4455.00 look for further upside with 4502.00 & 4550.00 as targets.
Comment
As long as 4455.00 is resistance, likely decline to 4339.00.
Nasdaq 100 (CME)
may fall to 13840.00 – 14000.00
Pivot
14480.00
Our preference
Short positions below 14480.00 with targets at 14000.00 & 13840.00 in extension.
Alternative scenario
Above 14480.00 look for further upside with 14600.00 & 14740.00 as targets.
Comment
The RSI shows downside momentum.
Hang Seng (HKFE)
may rise to 25110.00 – 25380.00
Pivot
24650.00
Our preference
Long positions above 24650.00 with targets at 25110.00 & 25380.00 in extension.
Alternative scenario
Below 24650.00 look for further downside with 24380.00 & 24150.00 as targets.
Comment
The RSI is mixed and calls for caution.
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.
