1. Daily technical analysis of selected currency pairs
AUD/JPY Bullish
Image Features: forms “Flag (Bullish)” pattern
Target
Opportunity recognized 2022 Feb 21 for the period of up to 48 hours
+0.199 (19.9 pips) price change since the Technical Event at 82.508
Technical Analysis
We found a pattern called Flag (Bullish) on 2022 Feb 21 at 01:00 GMT on a 1 hour chart, providing a target price for up to 48 hours in the range of 83.350 to 83.500.
The faster moving average crossed above the slower moving average on 2022 Feb 20 at 23:00 GMT, signaling a new uptrend has been established.
CAD/JPY Bearish
Image Features: forms “Inside Bar (Bearish)” pattern
Target
Opportunity recognized 2022 Feb 21 for the period of up to 12 hours
-0.030 (3 pips) price change since the Technical Event at 90.294
Technical Analysis
We found a pattern called Inside Bar (Bearish) on 2022 Feb 21 at 02:00 GMT on a 30 minute chart suggesting the outlook is bearish for up to 12 hours.
The Momentum oscillator crossed below 0 on 2022 Feb 21 at 01:30 GMT, thereby signaling a new accelerating downtrend.
2. Daily Analyst’s View
EUR/USD
may fall 18 – 38 pips
Pivot
1.1345
Our preference
Short positions below 1.1345 with targets at 1.1300 & 1.1280 in extension.
Alternative scenario
Above 1.1345 look for further upside with 1.1360 & 1.1375 as targets.
Comment
The RSI is bearish and calls for further decline.
GBP/USD
may fall 24 – 44 pips
Pivot
1.3620
Our preference
Short positions below 1.3620 with targets at 1.3570 & 1.3550 in extension.
Alternative scenario
Above 1.3620 look for further upside with 1.3640 & 1.3660 as targets.
Comment
The RSI calls for a drop.
USD/CAD
may rise 18 – 43 pips
Pivot
1.2725
Our preference
Long positions above 1.2725 with targets at 1.2775 & 1.2800 in extension.
Alternative scenario
Below 1.2725 look for further downside with 1.2705 & 1.2690 as targets.
Comment
The RSI is bullish and calls for further advance.
Gold
may rise to 1915.00 – 1925.00
Pivot
1890.00
Our preference
Long positions above 1890.00 with targets at 1915.00 & 1925.00 in extension.
Alternative scenario
Below 1890.00 look for further downside with 1882.00 & 1875.00 as targets.
Comment
The RSI is bullish and calls for further upside.
Crude Oil (WTI)
may rise to 92.95 – 93.80
Pivot
89.90
Our preference
Long positions above 89.90 with targets at 92.95 & 93.80 in extension.
Alternative scenario
Below 89.90 look for further downside with 89.05 & 88.15 as targets.
Comment
The RSI advocates for further upside.
S&P 500 (CME)
may fall to 4267.00 – 4295.00
Pivot
4371.00
Our preference
Short positions below 4371.00 with targets at 4295.00 & 4267.00 in extension.
Alternative scenario
Above 4371.00 look for further upside with 4409.00 & 4430.00 as targets.
Comment
The RSI shows downside momentum.
Nasdaq 100 (CME)
may fall to 13550.00 – 13740.00
Pivot
14130.00
Our preference
Short positions below 14130.00 with targets at 13740.00 & 13550.00 in extension.
Alternative scenario
Above 14130.00 look for further upside with 14290.00 & 14400.00 as targets.
Comment
The RSI has broken down its 30 level.
Hang Seng (HKFE)
may fall to 23860.00 – 24030.00
Pivot
24380.00
Our preference
Short positions below 24380.00 with targets at 24030.00 & 23860.00 in extension.
Alternative scenario
Above 24380.00 look for further upside with 24580.00 & 24765.00 as targets.
Comment
The RSI shows downside 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.
