1. Daily technical analysis of selected currency pairs
SGD/JPY Bearish
Image Features: forms “Inside Bar (Bearish)” pattern
Target
Opportunity recognized 2021 Aug 05 for the period of up to 12 hours
+0.017 (1.7 pips) price change since the Technical Event at 81.169
Technical Analysis
We found a pattern called Inside Bar (Bearish) on 2021 Aug 05 at 02:30 GMT on a 15 minute chart suggesting the outlook is bearish for up to 12 hours.
A bearish event triggered for Fast Stochastics on 2021 Aug 05 at 03:45 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.
GBP/AUD Bearish
Image Features: forms “Outside Bar (Bearish)” pattern
Target
Opportunity recognized 2021 Aug 05 for the period of up to 12 hours
-0.00084 (8.4 pips) price change since the Technical Event at 1.88010
Technical Analysis
We found a pattern called Outside Bar (Bearish) on 2021 Aug 05 at 01:30 GMT on a 30 minute chart suggesting the outlook is bearish for up to 12 hours.
The CCI triggered a bearish signal on 2021 Aug 05 at 02:30 GMT by crossing below the -100% level.
2. Daily Analyst’s View
EUR/USD
may fall 7 – 22 pips
Pivot
1.1850
Our preference
Short positions below 1.1850 with targets at 1.1825 & 1.1810 in extension.
Alternative scenario
Above 1.1850 look for further upside with 1.1870 & 1.1885 as targets.
Comment
A break below 1.1825 would trigger a drop towards 1.1810.
GBP/USD
may fall 21 – 41 pips
Pivot
1.3910
Our preference
Short positions below 1.3910 with targets at 1.3860 & 1.3840 in extension.
Alternative scenario
Above 1.3910 look for further upside with 1.3930 & 1.3950 as targets.
Comment
The immediate trend remains down and the momentum is strong.
USD/CAD
may fall 10 – 35 pips
Pivot
1.2555
Our preference
Short positions below 1.2555 with targets at 1.2520 & 1.2495 in extension.
Alternative scenario
Above 1.2555 look for further upside with 1.2575 & 1.2600 as targets.
Comment
The RSI calls for a new downleg.
Gold
may fall to 1797.00 – 1804.00
Pivot
1820.00
Our preference
Short positions below 1820.00 with targets at 1804.00 & 1797.00 in extension.
Alternative scenario
Above 1820.00 look for further upside with 1826.00 & 1832.00 as targets.
Comment
As long as the resistance at 1820.00 is not surpassed, the risk of the break below 1804.00 remains high.
Crude Oil (WTI)
may fall to 66.40 – 67.40
Pivot
69.35
Our preference
Short positions below 69.35 with targets at 67.40 & 66.40 in extension.
Alternative scenario
Above 69.35 look for further upside with 70.75 & 71.00 as targets.
Comment
The RSI is bearish and calls for further downside.
S&P 500 (CME)
may rise to 4417.00 – 4428.00
Pivot
4391.00
Our preference
Long positions above 4391.00 with targets at 4417.00 & 4428.00 in extension.
Alternative scenario
Below 4391.00 look for further downside with 4382.00 & 4365.00 as targets.
Comment
The next resistances are at 4417.00 and then at 4428.00.
Nasdaq 100 (CME)
may rise to 15150.00 – 15220.00
Pivot
15000.00
Our preference
Long positions above 15000.00 with targets at 15150.00 & 15220.00 in extension.
Alternative scenario
Below 15000.00 look for further downside with 14940.00 & 14850.00 as targets.
Comment
The RSI is bullish and calls for further upside.
Hang Seng (HKFE)
may rise to 26585.00 – 26820.00
Pivot
26100.00
Our preference
Long positions above 26100.00 with targets at 26585.00 & 26820.00 in extension.
Alternative scenario
Below 26100.00 look for further downside with 25920.00 & 25700.00 as targets.
Comment
The RSI is around its neutrality area at 50%
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.
