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
+1.863 (186.3 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.
On 2022 Feb 28 at 01:00 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.
CAD/JPY Bullish
Image Features: forms “Continuation Diamond (Bullish)” pattern
Target
Opportunity recognized 2022 Feb 23 for the period of up to 2 weeks
+0.462 (46.2 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 01 at 01:00 GMT signaling a new uptrend has been established.
2. Daily Analyst’s View
EUR/USD
may rise 29 – 54 pips
Pivot
1.1180
Our preference
Long positions above 1.1180 with targets at 1.1245 & 1.1270 in extension.
Alternative scenario
Below 1.1180 look for further downside with 1.1160 & 1.1140 as targets.
Comment
The RSI calls for a bounce.
GBP/USD
may rise 38 – 58 pips
Pivot
1.3380
Our preference
Long positions above 1.3380 with targets at 1.3460 & 1.3480 in extension.
Alternative scenario
Below 1.3380 look for further downside with 1.3360 & 1.3340 as targets.
Comment
The RSI is bullish and calls for further upside.
USD/CAD
may fall 37 – 67 pips
Pivot
1.2710
Our preference
Short positions below 1.2710 with targets at 1.2630 & 1.2600 in extension.
Alternative scenario
Above 1.2710 look for further upside with 1.2740 & 1.2770 as targets.
Comment
The RSI is bearish and calls for further decline.
Gold
may rise to 1918.00 – 1931.00
Pivot
1892.00
Our preference
Long positions above 1892.00 with targets at 1918.00 & 1931.00 in extension.
Alternative scenario
Below 1892.00 look for further downside with 1878.00 & 1864.00 as targets.
Comment
A support base at 1892.00 has formed and has allowed for a temporary stabilisation.
Crude Oil (WTI)
may rise to 97.50 – 99.10
Pivot
94.10
Our preference
Long positions above 94.10 with targets at 97.50 & 99.10 in extension.
Alternative scenario
Below 94.10 look for further downside with 91.70 & 90.00 as targets.
Comment
The RSI calls for a bounce.
S&P 500 (CME)
may rise to 4433.00 – 4476.00
Pivot
4300.00
Our preference
Long positions above 4300.00 with targets at 4433.00 & 4476.00 in extension.
Alternative scenario
Below 4300.00 look for further downside with 4259.00 & 4227.00 as targets.
Comment
The RSI calls for a new upleg.
Nasdaq 100 (CME)
may rise to 14490.00 – 14640.00
Pivot
14010.00
Our preference
Long positions above 14010.00 with targets at 14490.00 & 14640.00 in extension.
Alternative scenario
Below 14010.00 look for further downside with 13750.00 & 13560.00 as targets.
Comment
The RSI shows upside momentum.
Hang Seng (HKFE)
may rise to 22965.00 – 23260.00
Pivot
22335.00
Our preference
Long positions above 22335.00 with targets at 22965.00 & 23260.00 in extension.
Alternative scenario
Below 22335.00 look for further downside with 22040.00 & 21840.00 as targets.
Comment
The RSI has just landed on its neutrality area at 50% and is turning up.
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.
