1. Daily technical analysis of selected currency pairs
AUD/JPY Bullish
Image Features: forms “Diamond Bottom (Bullish)” pattern
Target
Opportunity recognized 2022 Mar 02 for the period of up to 2 weeks
+0.741 (74.1 pips) price change since the Technical Event at 83.827
Technical Analysis
We found a pattern called Diamond Bottom on 2022 Mar 02 at 13:00 GMT on a 4 hour chart, providing a target price for up to 2 weeks in the range of 87.400 to 88.200.
The price crossed above its moving average on 2022 Feb 24 at 17:00 GMT 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
+0.498 (49.8 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.
On 2022 Mar 03 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.
2. Daily Analyst’s View
EUR/USD
may fall 22 – 62 pips
Pivot
1.1070
Our preference
Short positions below 1.1070 with targets at 1.1000 & 1.0960 in extension.
Alternative scenario
Above 1.1070 look for further upside with 1.1095 & 1.1120 as targets.
Comment
A break below 1.1000 would trigger a drop towards 1.0960.
GBP/USD
may fall 23 – 48 pips
Pivot
1.3365
Our preference
Short positions below 1.3365 with targets at 1.3310 & 1.3285 in extension.
Alternative scenario
Above 1.3365 look for further upside with 1.3390 & 1.3415 as targets.
Comment
A break below 1.3310 would trigger a drop towards 1.3285.
USD/CAD
may rise 37 – 62 pips
Pivot
1.2655
Our preference
Long positions above 1.2655 with targets at 1.2725 & 1.2750 in extension.
Alternative scenario
Below 1.2655 look for further downside with 1.2625 & 1.2600 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Gold
may rise to 1951.00 – 1960.00
Pivot
1928.00
Our preference
Long positions above 1928.00 with targets at 1951.00 & 1960.00 in extension.
Alternative scenario
Below 1928.00 look for further downside with 1914.00 & 1902.00 as targets.
Comment
The RSI is mixed to bullish.
Crude Oil (WTI)
may rise to 114.20 – 116.55
Pivot
107.40
Our preference
Long positions above 107.40 with targets at 114.20 & 116.55 in extension.
Alternative scenario
Below 107.40 look for further downside with 105.20 & 102.55 as targets.
Comment
The RSI calls for a bounce.
S&P 500 (CME)
may fall to 4252.00 – 4275.00
Pivot
4395.00
Our preference
Short positions below 4395.00 with targets at 4275.00 & 4252.00 in extension.
Alternative scenario
Above 4395.00 look for further upside with 4441.00 & 4478.00 as targets.
Comment
The RSI shows downside momentum.
Nasdaq 100 (CME)
may fall to 13580.00 – 13755.00
Pivot
14185.00
Our preference
Short positions below 14185.00 with targets at 13755.00 & 13580.00 in extension.
Alternative scenario
Above 14185.00 look for further upside with 14350.00 & 14510.00 as targets.
Comment
The RSI shows downside momentum.
Hang Seng (HKFE)
may fall to 21380.00 – 21630.00
Pivot
22150.00
Our preference
Short positions below 22150.00 with targets at 21630.00 & 21380.00 in extension.
Alternative scenario
Above 22150.00 look for further upside with 22370.00 & 22580.00 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.
