1. Daily technical analysis of selected currency pairs
GBP/JPY Bullish
Image Features: forms “Continuation Diamond (Bullish)” pattern
Target
Opportunity recognized 2021 May 10 for the period of up to 2 weeks
+1.326 (132.6 pips) price change since the Technical Event at 152.032
Technical Analysis
We found a pattern called Continuation Diamond (Bullish) on 2021 May 10 at 01:00 GMT on a 4 hour chart, providing a target price for up to 2 weeks in the range of 156.400 to 157.400.
The price crossed above its moving average on 2021 Jul 12 at 17:00 GMT signaling a new uptrend has been established.
AUD/CAD Bearish
Image Features: forms “Continuation Diamond (Bearish)” pattern
Target
Opportunity recognized 2021 Jun 29 for the period of up to 2 weeks
+0.00017 (1.7 pips) price change since the Technical Event at 0.93271
Technical Analysis
We found a pattern called Continuation Diamond (Bearish) on 2021 Jun 29 at 01:00 GMT on a 4 hour chart, providing a target price for up to 2 weeks in the range of 0.92000 to 0.93000.
The price crossed below its moving average on 2021 Jul 09 at 21:00 GMT signaling a new downtrend has been established.
2. Daily Analyst’s View
EUR/USD
may rise 21 – 36 pips
Pivot
1.1850
Our preference
Long positions above 1.1850 with targets at 1.1895 & 1.1910 in extension.
Alternative scenario
Below 1.1850 look for further downside with 1.1835 & 1.1820 as targets.
Comment
The RSI is bullish and calls for further advance.
GBP/USD
may rise 27 – 47 pips
Pivot
1.3870
Our preference
Long positions above 1.3870 with targets at 1.3930 & 1.3950 in extension.
Alternative scenario
Below 1.3870 look for further downside with 1.3850 & 1.3830 as targets.
Comment
The RSI advocates for further advance.
USD/CAD
may fall 26 – 46 pips
Pivot
1.2480
Our preference
Short positions below 1.2480 with targets at 1.2420 & 1.2400 in extension.
Alternative scenario
Above 1.2480 look for further upside with 1.2500 & 1.2515 as targets.
Comment
The RSI advocates for further decline.
Gold
may rise to 1818.00 – 1825.00
Pivot
1800.00
Our preference
Long positions above 1800.00 with targets at 1818.00 & 1825.00 in extension.
Alternative scenario
Below 1800.00 look for further downside with 1795.00 & 1790.00 as targets.
Comment
The RSI advocates for further advance.
Crude Oil (WTI)
may rise to 74.90 – 75.40
Pivot
73.60
Our preference
Long positions above 73.60 with targets at 74.90 & 75.40 in extension.
Alternative scenario
Below 73.60 look for further downside with 73.15 & 72.70 as targets.
Comment
The RSI calls for a new upleg.
S&P 500 (CME)
may rise to 4390.00 – 4400.00
Pivot
4361.00
Our preference
Long positions above 4361.00 with targets at 4390.00 & 4400.00 in extension.
Alternative scenario
Below 4361.00 look for further downside with 4350.00 & 4341.00 as targets.
Comment
The RSI is bullish and calls for further upside.
Nasdaq 100 (CME)
may rise to 14930.00 – 14960.00
Pivot
14820.00
Our preference
Long positions above 14820.00 with targets at 14930.00 & 14960.00 in extension.
Alternative scenario
Below 14820.00 look for further downside with 14785.00 & 14740.00 as targets.
Comment
The RSI is bullish and calls for further upside.
Hang Seng (HKFE)
may rise to 28150.00 – 28440.00
Pivot
27590.00
Our preference
Long positions above 27590.00 with targets at 28150.00 & 28440.00 in extension.
Alternative scenario
Below 27590.00 look for further downside with 27450.00 & 27345.00 as targets.
Comment
The RSI is bullish and calls for further upside.
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.
