1. Daily technical analysis of selected currency pairs
AUD/JPY Bearish
Image Features: forms “Double Top (Bearish)” pattern
Target
Opportunity recognized 2022 Mar 14 for the period of up to 2 weeks
-0.394 (39.4 pips) price change since the Technical Event at 85.399
Technical Analysis
We found a pattern called Double Top on 2022 Mar 14 at 06:00 GMT on a 30 minute chart, providing a target price for up to 2 weeks in the range of 84.870 to 84.970.
The price crossed below its moving average on 2022 Mar 15 at 01:00 GMT signaling a new downtrend has been established.
CAD/JPY Bullish
Image Features: forms “Flag (Bullish)” pattern
Target
Opportunity recognized 2022 Mar 09 for the period of up to 2 weeks
+2.182 (218.2 pips) price change since the Technical Event at 90.010
Technical Analysis
We found a pattern called Flag (Bullish) on 2022 Mar 09 at 09:00 GMT on a 4 hour chart, providing a target price for up to 2 weeks in the range of 90.850 to 91.050.
The faster moving average crossed above the slower moving average on 2022 Mar 14 at 01:00 GMT, signaling a new uptrend has been established.
2. Daily Analyst’s View
EUR/USD
may fall 15 – 40 pips
Pivot
1.0970
Our preference
Short positions below 1.0970 with targets at 1.0925 & 1.0900 in extension.
Alternative scenario
Above 1.0970 look for further upside with 1.0995 & 1.1020 as targets.
Comment
A break below 1.0925 would trigger a drop towards 1.0900.
GBP/USD
may fall 23 – 43 pips
Pivot
1.3040
Our preference
Short positions below 1.3040 with targets at 1.2980 & 1.2960 in extension.
Alternative scenario
Above 1.3040 look for further upside with 1.3065 & 1.3090 as targets.
Comment
The RSI lacks upward momentum.
USD/CAD
may rise 33 – 63 pips
Pivot
1.2805
Our preference
Long positions above 1.2805 with targets at 1.2870 & 1.2900 in extension.
Alternative scenario
Below 1.2805 look for further downside with 1.2775 & 1.2745 as targets.
Comment
Technically the RSI is above its neutrality area at 50.
Gold
may fall to 1907.00 – 1925.00
Pivot
1961.00
Our preference
Short positions below 1961.00 with targets at 1925.00 & 1907.00 in extension.
Alternative scenario
Above 1961.00 look for further upside with 1980.00 & 1990.00 as targets.
Comment
The RSI is bearish and calls for further downside.
Crude Oil (WTI)
may fall to 91.80 – 94.40
Pivot
101.10
Our preference
Short positions below 101.10 with targets at 94.40 & 91.80 in extension.
Alternative scenario
Above 101.10 look for further upside with 104.80 & 107.80 as targets.
Comment
The RSI shows downside momentum.
S&P 500 (CME)
may fall to 4130.00 – 4152.00
Pivot
4200.00
Our preference
Short positions below 4200.00 with targets at 4152.00 & 4130.00 in extension.
Alternative scenario
Above 4200.00 look for further upside with 4238.00 & 4264.00 as targets.
Comment
As long as the resistance at 4200.00 is not surpassed, the risk of the break below 4152.00 remains high.
Nasdaq 100 (CME)
may fall to 12700.00 – 12860.00
Pivot
13280.00
Our preference
Short positions below 13280.00 with targets at 12860.00 & 12700.00 in extension.
Alternative scenario
Above 13280.00 look for further upside with 13490.00 & 13620.00 as targets.
Comment
As long as 13280.00 is resistance, likely decline to 12860.00.
Hang Seng (HKFE)
may fall to 18300.00 – 18730.00
Pivot
19730.00
Our preference
Short positions below 19730.00 with targets at 18730.00 & 18300.00 in extension.
Alternative scenario
Above 19730.00 look for further upside with 20060.00 & 20450.00 as targets.
Comment
The RSI advocates for further decline.
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.
