1. Daily technical analysis of selected currency pairs
EUR/JPY Bullish
Image Features: forms “Hammer (Bullish)” pattern
Target
Opportunity recognized 2021 Aug 10 for the period of up to 12 hours
+0.058 (5.8 pips) price change since the Technical Event at 129.466
Technical Analysis
We found a pattern called Hammer on 2021 Aug 10 at 02:15 GMT on a 15 minute chart suggesting the outlook is bullish for up to 12 hours.
The price crossed above its moving average on 2021 Aug 10 at 03:00 GMT signaling a new uptrend has been established.
GBP/AUD Bullish
Image Features: forms “Diamond Bottom (Bullish)” pattern
Target
Opportunity recognized 2021 Aug 06 for the period of up to 2 weeks
+0.00402 (40.2 pips) price change since the Technical Event at 1.88548
Technical Analysis
We found a pattern called Diamond Bottom on 2021 Aug 06 at 16:00 GMT on a 1 hour chart, providing a target price for up to 2 weeks in the range of 1.90000 to 1.91000.
The faster moving average crossed above the slower moving average on 2021 Aug 09 at 20:00 GMT, signaling a new uptrend has been established.
2. Daily Analyst’s View
EUR/USD
may fall 16 – 36 pips
Pivot
1.1765
Our preference
Short positions below 1.1765 with targets at 1.1720 & 1.1700 in extension.
Alternative scenario
Above 1.1765 look for further upside with 1.1780 & 1.1800 as targets.
Comment
The RSI is bearish and calls for further decline.
GBP/USD
may fall 25 – 45 pips
Pivot
1.3880
Our preference
Short positions below 1.3880 with targets at 1.3820 & 1.3800 in extension.
Alternative scenario
Above 1.3880 look for further upside with 1.3900 & 1.3920 as targets.
Comment
The RSI advocates for further downside.
USD/CAD
may rise 25 – 40 pips
Pivot
1.2545
Our preference
Long positions above 1.2545 with targets at 1.2600 & 1.2615 in extension.
Alternative scenario
Below 1.2545 look for further downside with 1.2530 & 1.2515 as targets.
Comment
The RSI is above its neutrality area at 50%.
Gold
may fall to 1703.00 – 1724.00
Pivot
1748.00
Our preference
Short positions below 1748.00 with targets at 1724.00 & 1703.00 in extension.
Alternative scenario
Above 1748.00 look for further upside with 1764.00 & 1776.00 as targets.
Comment
The RSI is mixed with a bearish bias.
Crude Oil (WTI)
may rise to 67.80 – 68.80
Pivot
65.90
Our preference
Long positions above 65.90 with targets at 67.80 & 68.80 in extension.
Alternative scenario
Below 65.90 look for further downside with 65.20 & 64.50 as targets.
Comment
The RSI calls for a rebound.
S&P 500 (CME)
may rise to 4433.00 – 4440.00
Pivot
4416.00
Our preference
Long positions above 4416.00 with targets at 4433.00 & 4440.00 in extension.
Alternative scenario
Below 4416.00 look for further downside with 4412.00 & 4408.00 as targets.
Comment
The RSI shows upside momentum.
Nasdaq 100 (CME)
may rise to 15150.00 – 15175.00
Pivot
15070.00
Our preference
Long positions above 15070.00 with targets at 15150.00 & 15175.00 in extension.
Alternative scenario
Below 15070.00 look for further downside with 15045.00 & 15000.00 as targets.
Comment
The RSI is above its neutrality area at 50%.
Hang Seng (HKFE)
may rise to 26470.00 – 26585.00
Pivot
26150.00
Our preference
Long positions above 26150.00 with targets at 26470.00 & 26585.00 in extension.
Alternative scenario
Below 26150.00 look for further downside with 26025.00 & 25815.00 as targets.
Comment
The next resistances are at 26470.00 and then at 26585.00.
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.
