1. Daily technical analysis of selected currency pairs



SGD/JPY Bullish

Image Features: forms “Hammer (Bullish)” pattern

Target
Opportunity recognized 2021 Jul 15 for the period of up to 12 hours
+0.049 (4.9 pips) price change since the Technical Event at 81.070

Technical Analysis

We found a pattern called Hammer on 2021 Jul 15 at 22:00 GMT on a 30 minute chart suggesting the outlook is bullish for up to 12 hours.

The price crossed above its moving average on 2021 Jul 16 at 02:30 GMT signaling a new uptrend has been established.

EUR/CHF Bearish

Image Features: forms “Hanging Man (Bearish)” pattern

Target
Opportunity recognized 2021 Jul 16 for the period of up to 12 hours
+0.00049 (4.9 pips) price change since the Technical Event at 1.08433

Technical Analysis

We found a pattern called Hanging Man on 2021 Jul 16 at 01:15 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 Jul 16 at 02:30 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

2. Daily Analyst’s View

EUR/USD

may fall 21 – 41 pips

Pivot
1.1830

Our preference
Short positions below 1.1830 with targets at 1.1790 & 1.1770 in extension.

Alternative scenario
Above 1.1830 look for further upside with 1.1850 & 1.1865 as targets.

Comment
The RSI advocates for further decline.

GBP/USD

may fall 28 – 48 pips

Pivot
1.3850

Our preference
Short positions below 1.3850 with targets at 1.3800 & 1.3780 in extension.

Alternative scenario
Above 1.3850 look for further upside with 1.3870 & 1.3890 as targets.

Comment
As long as 1.3850 is resistance, look for choppy price action with a bearish bias.

USD/CAD

may rise 40 – 70 pips

Pivot
1.2550

Our preference
Long positions above 1.2550 with targets at 1.2630 & 1.2660 in extension.

Alternative scenario
Below 1.2550 look for further downside with 1.2525 & 1.2500 as targets.

Comment
The RSI is bullish and calls for further advance.

Gold

may rise to 1834.00 – 1840.00

Pivot
1823.00

Our preference
Long positions above 1823.00 with targets at 1834.00 & 1840.00 in extension.

Alternative scenario
Below 1823.00 look for further downside with 1817.00 & 1811.00 as targets.

Comment
The RSI has just landed on its neutrality area at 50% and is turning up.

Crude Oil (WTI)

may fall to 70.00 – 70.75

Pivot
72.30

Our preference
Short positions below 72.30 with targets at 70.75 & 70.00 in extension.

Alternative scenario
Above 72.30 look for further upside with 72.90 & 73.40 as targets.

Comment
The RSI is bearish and calls for further downside.

S&P 500 (CME)

may fall to 4320.00 – 4332.00

Pivot
4358.00

Our preference
Short positions below 4358.00 with targets at 4332.00 & 4320.00 in extension.

Alternative scenario
Above 4358.00 look for further upside with 4370.00 & 4383.00 as targets.

Comment
As long as the resistance at 4358.00 is not surpassed, the risk of the break below 4332.00 remains high.

Nasdaq 100 (CME)

may fall to 14640.00 – 14700.00

Pivot
14860.00

Our preference
Short positions below 14860.00 with targets at 14700.00 & 14640.00 in extension.

Alternative scenario
Above 14860.00 look for further upside with 14920.00 & 14960.00 as targets.

Comment
As long as the resistance at 14860.00 is not surpassed, the risk of the break below 14700.00 remains high.

Hang Seng (HKFE)

may fall to 27595.00 – 27730.00

Pivot
28040.00

Our preference
Short positions below 28040.00 with targets at 27730.00 & 27595.00 in extension.

Alternative scenario
Above 28040.00 look for further upside with 28185.00 & 28350.00 as targets.

Comment
The break below 28040.00 is a negative signal that has opened a path to 27730.00.

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.