1. Daily technical analysis of selected currency pairs
AUD/JPY Bullish
Image Features: forms “Megaphone Bottom (Bullish)” pattern
Target
Opportunity recognized 2022 Feb 22 for the period of up to 2 weeks
+0.571 (57.1 pips) price change since the Technical Event at 83.051
Technical Analysis
We found a pattern called Megaphone Bottom on 2022 Feb 22 at 12:00 GMT on a 1 hour chart, providing a target price for up to 2 weeks in the range of 83.900 to 84.050.
The faster moving average crossed above the slower moving average on 2022 Feb 22 at 19:00 GMT, signaling a new uptrend has been established.
CAD/JPY Bullish
Image Features: forms “Megaphone Bottom (Bullish)” pattern
Target
Opportunity recognized 2022 Feb 22 for the period of up to 2 weeks
+0.160 (16 pips) price change since the Technical Event at 90.392
Technical Analysis
We found a pattern called Megaphone Bottom on 2022 Feb 22 at 12:30 GMT on a 30 minute chart, providing a target price for up to 2 weeks in the range of 91.050 to 91.150.
The price crossed above its moving average on 2022 Feb 23 at 08:00 GMT signaling a new uptrend has been established.
2. Daily Analyst’s View
EUR/USD
may rise 26 – 41 pips
Pivot
1.1315
Our preference
Long positions above 1.1315 with targets at 1.1365 & 1.1380 in extension.
Alternative scenario
Below 1.1315 look for further downside with 1.1290 & 1.1270 as targets.
Comment
The RSI shows upside momentum.
GBP/USD
may rise 24 – 39 pips
Pivot
1.3575
Our preference
Long positions above 1.3575 with targets at 1.3625 & 1.3640 in extension.
Alternative scenario
Below 1.3575 look for further downside with 1.3560 & 1.3540 as targets.
Comment
The RSI shows upside momentum.
USD/CAD
may rise to 1.2850 – 1.2965
Pivot
1.2575
Our preference
Long positions above 1.2575 with targets at 1.2850 & 1.2965 in extension.
Alternative scenario
Below 1.2575 look for further downside with 1.2450 & 1.2365 as targets.
Comment
The RSI advocates for further upside.
Gold
may fall to 1881.00 – 1887.00
Pivot
1906.00
Our preference
Short positions below 1906.00 with targets at 1887.00 & 1881.00 in extension.
Alternative scenario
Above 1906.00 look for further upside with 1914.00 & 1921.00 as targets.
Comment
The RSI advocates for further decline.
Crude Oil (WTI)
may fall to 90.20 – 91.05
Pivot
92.75
Our preference
Short positions below 92.75 with targets at 91.05 & 90.20 in extension.
Alternative scenario
Above 92.75 look for further upside with 93.55 & 94.95 as targets.
Comment
The upward potential is likely to be limited by the resistance at 92.75.
S&P 500 (CME)
may rise to 4358.00 – 4390.00
Pivot
4284.00
Our preference
Long positions above 4284.00 with targets at 4358.00 & 4390.00 in extension.
Alternative scenario
Below 4284.00 look for further downside with 4250.00 & 4213.00 as targets.
Comment
The RSI advocates for further upside.
Nasdaq 100 (CME)
may rise to 14100.00 – 14300.00
Pivot
13760.00
Our preference
Long positions above 13760.00 with targets at 14100.00 & 14300.00 in extension.
Alternative scenario
Below 13760.00 look for further downside with 13580.00 & 13440.00 as targets.
Comment
The RSI advocates for further advance.
Hang Seng (HKFE)
may rise to 23960.00 – 24090.00
Pivot
23490.00
Our preference
Long positions above 23490.00 with targets at 23960.00 & 24090.00 in extension.
Alternative scenario
Below 23490.00 look for further downside with 23350.00 & 23160.00 as targets.
Comment
The RSI calls for a bounce.
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.
