1. Daily technical analysis of selected currency pairs



AUD/JPY Bullish

Image Features: forms “Continuation Diamond (Bullish)” pattern

Target
Opportunity recognized 2022 Feb 07 for the period of up to 2 weeks
+1.761 (176.1 pips) price change since the Technical Event at 81.818

Technical Analysis

We found a pattern called Continuation Diamond (Bullish) on 2022 Feb 07 at 17:00 GMT on a 4 hour chart, providing a target price for up to 2 weeks in the range of 83.500 to 83.900.

On 2022 Feb 28 at 01:00 GMT, the 4-bar Moving Average crossed above the 9-bar MA which crossed above the 18-bar MA, signaling a new uptrend has been established.

CAD/JPY Bullish

Image Features: forms “Continuation Diamond (Bullish)” pattern

Target
Opportunity recognized 2022 Feb 23 for the period of up to 2 weeks
-0.060 (6 pips) price change since the Technical Event at 90.449

Technical Analysis

We found a pattern called Continuation Diamond (Bullish) on 2022 Feb 23 at 09:00 GMT on a 4 hour chart, providing a target price for up to 2 weeks in the range of 92.800 to 93.300.

The faster moving average crossed above the slower moving average on 2022 Mar 01 at 09:00 GMT, signaling a new uptrend has been established.

2. Daily Analyst’s View

EUR/USD

may fall 37 – 57 pips

Pivot
1.1160

Our preference
Short positions below 1.1160 with targets at 1.1090 & 1.1070 in extension.

Alternative scenario
Above 1.1160 look for further upside with 1.1180 & 1.1200 as targets.

Comment
As long as the resistance at 1.1160 is not surpassed, the risk of the break below 1.1090 remains high.

GBP/USD

may fall 28 – 58 pips

Pivot
1.3360

Our preference
Short positions below 1.3360 with targets at 1.3300 & 1.3270 in extension.

Alternative scenario
Above 1.3360 look for further upside with 1.3385 & 1.3410 as targets.

Comment
The RSI calls for a new downleg.

USD/CAD

may rise 36 – 56 pips

Pivot
1.2690

Our preference
Long positions above 1.2690 with targets at 1.2770 & 1.2790 in extension.

Alternative scenario
Below 1.2690 look for further downside with 1.2670 & 1.2650 as targets.

Comment
The RSI advocates for further upside.

Gold

may rise to 1957.00 – 1973.00

Pivot
1925.00

Our preference
Long positions above 1925.00 with targets at 1957.00 & 1973.00 in extension.

Alternative scenario
Below 1925.00 look for further downside with 1911.00 & 1900.00 as targets.

Comment
Technically the RSI is above its neutrality area at 50.

Crude Oil (WTI)

may rise to 110.40 – 115.10

Pivot
103.30

Our preference
Long positions above 103.30 with targets at 110.40 & 115.10 in extension.

Alternative scenario
Below 103.30 look for further downside with 100.50 & 97.40 as targets.

Comment
The immediate trend remains up and the momentum is strong.

S&P 500 (CME)

may fall to 4179.00 – 4227.00

Pivot
4360.00

Our preference
Short positions below 4360.00 with targets at 4227.00 & 4179.00 in extension.

Alternative scenario
Above 4360.00 look for further upside with 4400.00 & 4441.00 as targets.

Comment
As long as 4360.00 is resistance, expect a return to 4227.00.

Nasdaq 100 (CME)

may fall to 13560.00 – 13750.00

Pivot
14340.00

Our preference
Short positions below 14340.00 with targets at 13750.00 & 13560.00 in extension.

Alternative scenario
Above 14340.00 look for further upside with 14640.00 & 14805.00 as targets.

Comment
Technically the RSI is below its neutrality area at 50.

Hang Seng (HKFE)

may fall to 22050.00 – 22220.00

Pivot
22590.00

Our preference
Short positions below 22590.00 with targets at 22220.00 & 22050.00 in extension.

Alternative scenario
Above 22590.00 look for further upside with 22965.00 & 23260.00 as targets.

Comment
As long as 22590.00 is resistance, look for choppy price action with a bearish bias.

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.