1. Daily technical analysis of selected currency pairs



AUD/JPY Bearish

Image Features: forms “Inside Bar (Bearish)” pattern

Target
Opportunity recognized 2022 May 06 for the period of up to 12 hours
-0.210 (21 pips) price change since the Technical Event at 92.921

Technical Analysis

We found a pattern called Inside Bar (Bearish) on 2022 May 06 at 00:50 GMT on a 5 minute chart suggesting the outlook is bearish for up to 12 hours.

The price crossed below its moving average on 2022 May 06 at 01:35 GMT signaling a new downtrend has been established.

CAD/JPY Bearish

Image Features: forms “Outside Bar (Bearish)” pattern

Target
Opportunity recognized 2022 May 05 for the period of up to 48 hours
+0.129 (12.9 pips) price change since the Technical Event at 101.573

Technical Analysis

We found a pattern called Outside Bar (Bearish) on 2022 May 05 at 17:00 GMT on a 4 hour chart suggesting the outlook is bearish for up to 48 hours.

A bearish event triggered for Slow Stochastics on 2022 May 05 at 21:00 GMT when the %K line crossed below the %D line. The close prices are trading closer to the lower end of the recent high-low price range, which is associated with price decreases.

2. Daily Analyst’s View

EUR/USD

may fall 47 – 67 pips

Pivot
1.0585

Our preference
Short positions below 1.0585 with targets at 1.0490 & 1.0470 in extension.

Alternative scenario
Above 1.0585 look for further upside with 1.0610 & 1.0640 as targets.

Comment
As long as the resistance at 1.0585 is not surpassed, the risk of the break below 1.0490 remains high.

GBP/USD

may fall 61 – 101 pips

Pivot
1.2445

Our preference
Short positions below 1.2445 with targets at 1.2300 & 1.2260 in extension.

Alternative scenario
Above 1.2445 look for further upside with 1.2480 & 1.2520 as targets.

Comment
The RSI is bearish and calls for further decline.

USD/CAD

may rise 42 – 82 pips

Pivot
1.2770

Our preference
Long positions above 1.2770 with targets at 1.2870 & 1.2910 in extension.

Alternative scenario
Below 1.2770 look for further downside with 1.2740 & 1.2710 as targets.

Comment
The RSI calls for a bounce.

Gold

may fall to 1850.00 – 1861.00

Pivot
1881.00

Our preference
Short positions below 1881.00 with targets at 1861.00 & 1850.00 in extension.

Alternative scenario
Above 1881.00 look for further upside with 1890.00 & 1902.00 as targets.

Comment
The RSI shows downside momentum.

Crude Oil (WTI)

may rise to 111.30 – 112.80

Pivot
106.40

Our preference
Long positions above 106.40 with targets at 111.30 & 112.80 in extension.

Alternative scenario
Below 106.40 look for further downside with 104.90 & 103.70 as targets.

Comment
The RSI calls for a bounce.

S&P 500 (CME)

may fall to 4068.00 – 4098.00

Pivot
4194.00

Our preference
Short positions below 4194.00 with targets at 4098.00 & 4068.00 in extension.

Alternative scenario
Above 4194.00 look for further upside with 4243.00 & 4276.00 as targets.

Comment
The RSI is mixed with a bearish bias.

Nasdaq 100 (CME)

may fall to 12420.00 – 12710.00

Pivot
13170.00

Our preference
Short positions below 13170.00 with targets at 12710.00 & 12420.00 in extension.

Alternative scenario
Above 13170.00 look for further upside with 13340.00 & 13580.00 as targets.

Comment
As long as the resistance at 13170.00 is not surpassed, the risk of the break below 12710.00 remains high.

Hang Seng (HKFE)

may fall to 19740.00 – 19880.00

Pivot
20520.00

Our preference
Short positions below 20520.00 with targets at 19880.00 & 19740.00 in extension.

Alternative scenario
Above 20520.00 look for further upside with 20950.00 & 21200.00 as targets.

Comment
As long as 20520.00 is resistance, likely decline to 19880.00.

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.