1. Daily technical analysis of selected currency pairs



CAD/JPY Bullish

Image Features: forms “Hammer (Bullish)” pattern

Target
Opportunity recognized 2021 Jul 22 for the period of up to 12 hours
+0.039 (3.9 pips) price change since the Technical Event at 87.522

Technical Analysis

We found a pattern called Hammer on 2021 Jul 22 at 01:30 GMT on a 15 minute chart suggesting the outlook is bullish for up to 12 hours.

A bullish event triggered for Slow Stochastics on 2021 Jul 22 at 02:15 GMT when the %K line crossed above the %D line. The close prices are trading closer to the upper end of the recent high-low price range, which is associated with price increases.

USD/CHF Bullish

Image Features: forms “Hammer (Bullish)” pattern

Target
Opportunity recognized 2021 Jul 22 for the period of up to 12 hours
-0.00022 (2.2 pips) price change since the Technical Event at 0.91732

Technical Analysis

We found a pattern called Hammer on 2021 Jul 22 at 02:30 GMT on a 30 minute chart suggesting the outlook is bullish for up to 12 hours.

On 2021 Jul 22 at 02:30 GMT, the 4-bar Moving Average crossed above the 9-bar MA which crossed above the 18-bar MA, signaling a new uptrend has been established.

2. Daily Analyst’s View

EUR/USD

may rise 18 – 33 pips

Pivot
1.1775

Our preference
Long positions above 1.1775 with targets at 1.1810 & 1.1825 in extension.

Alternative scenario
Below 1.1775 look for further downside with 1.1760 & 1.1750 as targets.

Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

GBP/USD

may rise 25 – 45 pips

Pivot
1.3670

Our preference
Long positions above 1.3670 with targets at 1.3725 & 1.3745 in extension.

Alternative scenario
Below 1.3670 look for further downside with 1.3635 & 1.3600 as targets.

Comment
Technically the RSI is above its neutrality area at 50.

USD/CAD

may fall 25 – 55 pips

Pivot
1.2605

Our preference
Short positions below 1.2605 with targets at 1.2550 & 1.2520 in extension.

Alternative scenario
Above 1.2605 look for further upside with 1.2635 & 1.2670 as targets.

Comment
As long as the resistance at 1.2605 is not surpassed, the risk of the break below 1.2550 remains high.

Gold

may fall to 1788.00 – 1794.00

Pivot
1806.00

Our preference
Short positions below 1806.00 with targets at 1794.00 & 1788.00 in extension.

Alternative scenario
Above 1806.00 look for further upside with 1814.00 & 1819.00 as targets.

Comment
The RSI is bearish and calls for further decline.

Crude Oil (WTI)

may rise to 71.40 – 72.40

Pivot
68.75

Our preference
Long positions above 68.75 with targets at 71.40 & 72.40 in extension.

Alternative scenario
Below 68.75 look for further downside with 67.90 & 66.80 as targets.

Comment
The RSI is mixed to bullish.

S&P 500 (CME)

may rise to 4367.00 – 4384.00

Pivot
4329.00

Our preference
Long positions above 4329.00 with targets at 4367.00 & 4384.00 in extension.

Alternative scenario
Below 4329.00 look for further downside with 4310.00 & 4284.00 as targets.

Comment
The RSI shows upside momentum.

Nasdaq 100 (CME)

may rise to 14900.00 – 15000.00

Pivot
14735.00

Our preference
Long positions above 14735.00 with targets at 14900.00 & 15000.00 in extension.

Alternative scenario
Below 14735.00 look for further downside with 14670.00 & 14580.00 as targets.

Comment
The RSI shows upside momentum.

Hang Seng (HKFE)

may rise to 27875.00 – 28040.00

Pivot
27360.00

Our preference
Long positions above 27360.00 with targets at 27875.00 & 28040.00 in extension.

Alternative scenario
Below 27360.00 look for further downside with 27145.00 & 26920.00 as targets.

Comment
The RSI advocates for further advance.

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.