1. Daily technical analysis of selected currency pairs
EUR/JPY Bullish
Image Features: forms “Megaphone Bottom (Bullish)” pattern
Target
Opportunity recognized 2021 Aug 23 for the period of up to 2 weeks
+0.463 (46.3 pips) price change since the Technical Event at 128.947
Technical Analysis
We found a pattern called Megaphone Bottom on 2021 Aug 23 at 09:00 GMT on a 1 hour chart, providing a target price for up to 2 weeks in the range of 130.000 to 130.200.
The faster moving average crossed above the slower moving average on 2021 Aug 24 at 16:00 GMT, signaling a new uptrend has been established.
USD/AUD Bearish
Image Features: forms “Engulfing Line (Bearish)” pattern
Target
Opportunity recognized 2021 Aug 27 for the period of up to 12 hours
-0.00013 (1.3 pips) price change since the Technical Event at 1.37906
Technical Analysis
We found a pattern called Engulfing Line (Bearish) on 2021 Aug 27 at 08:45 GMT on a 15 minute chart suggesting the outlook is bearish for up to 12 hours.
The Momentum oscillator crossed below 0 on 2021 Aug 27 at 09:00 GMT, thereby signaling a new accelerating downtrend.
2. Daily Analyst’s View
EUR/USD
may rise 20 – 30 pips
Pivot
1.1740
Our preference
Long positions above 1.1740 with targets at 1.1770 & 1.1780 in extension.
Alternative scenario
Below 1.1740 look for further downside with 1.1725 & 1.1715 as targets.
Comment
The RSI lacks downward momentum.
GBP/USD
may rise 21 – 36 pips
Pivot
1.3680
Our preference
Long positions above 1.3680 with targets at 1.3720 & 1.3735 in extension.
Alternative scenario
Below 1.3680 look for further downside with 1.3660 & 1.3635 as targets.
Comment
The RSI shows upside momentum.
USD/CAD
may fall 32 – 57 pips
Pivot
1.2710
Our preference
Short positions below 1.2710 with targets at 1.2640 & 1.2615 in extension.
Alternative scenario
Above 1.2710 look for further upside with 1.2730 & 1.2750 as targets.
Comment
The RSI shows downside momentum.
Gold
may rise to 1805.00 – 1809.00
Pivot
1789.00
Our preference
Long positions above 1789.00 with targets at 1805.00 & 1809.00 in extension.
Alternative scenario
Below 1789.00 look for further downside with 1779.00 & 1775.00 as targets.
Comment
The break above 1789.00 is a positive signal that has opened a path to 1805.00.
Crude Oil (WTI)
may rise to 69.00 – 69.85
Pivot
67.50
Our preference
Long positions above 67.50 with targets at 69.00 & 69.85 in extension.
Alternative scenario
Below 67.50 look for further downside with 66.90 & 66.30 as targets.
Comment
The RSI lacks downward momentum.
S&P 500 (CME)
may fall to 4454.00 – 4462.00
Pivot
4484.00
Our preference
Short positions below 4484.00 with targets at 4462.00 & 4454.00 in extension.
Alternative scenario
Above 4484.00 look for further upside with 4498.00 & 4508.00 as targets.
Comment
The index currently faces a challenging resistance area at 4484.00.
Nasdaq 100 (CME)
may fall to 15240.00 – 15265.00
Pivot
15350.00
Our preference
Short positions below 15350.00 with targets at 15265.00 & 15240.00 in extension.
Alternative scenario
Above 15350.00 look for further upside with 15400.00 & 15465.00 as targets.
Comment
As long as the resistance at 15350.00 is not surpassed, the risk of the break below 15265.00 remains high.
Hang Seng (HKFE)
may fall to 24940.00 – 25140.00
Pivot
25435.00
Our preference
Short positions below 25435.00 with targets at 25140.00 & 24940.00 in extension.
Alternative scenario
Above 25435.00 look for further upside with 25600.00 & 25750.00 as targets.
Comment
A break below 25140.00 would trigger a drop towards 24940.00.
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.
