1. Daily technical analysis of selected currency pairs
CAD/JPY Bullish
Image Features: forms “Double Bottom (Bullish)” pattern
Target
Opportunity recognized 2021 Sep 27 for the period of up to 2 weeks
+3.140 (314 pips) price change since the Technical Event at 87.886
Technical Analysis
We found a pattern called Double Bottom on 2021 Sep 27 at 17:00 GMT on a 4 hour chart, providing a target price for up to 2 weeks in the range of 90.800 to 91.400.
The faster moving average crossed above the slower moving average on 2021 Sep 30 at 09:00 GMT, signaling a new uptrend has been established.
EUR/JPY Bearish
Image Features: forms “Inside Bar (Bearish)” pattern
Target
Opportunity recognized 2021 Oct 12 for the period of up to 48 hours
+0.093 (9.3 pips) price change since the Technical Event at 130.985
Technical Analysis
We found a pattern called Inside Bar (Bearish) on 2021 Oct 12 at 21:00 GMT on a 4 hour chart suggesting the outlook is bearish for up to 48 hours.
The RSI fallen below 70 on 2021 Oct 12 at 21:00 GMT, telling us the price is starting to pull back from being overbought.
2. Daily Analyst’s View
EUR/USD
may fall 15 – 30 pips
Pivot
1.1550
Our preference
Short positions below 1.1550 with targets at 1.1515 & 1.1500 in extension.
Alternative scenario
Above 1.1550 look for further upside with 1.1570 & 1.1585 as targets.
Comment
The RSI is bearish and calls for further decline.
GBP/USD
may fall 18 – 38 pips
Pivot
1.3610
Our preference
Short positions below 1.3610 with targets at 1.3565 & 1.3545 in extension.
Alternative scenario
Above 1.3610 look for further upside with 1.3630 & 1.3650 as targets.
Comment
The RSI calls for a new downleg.
USD/CAD
may rise 26 – 46 pips
Pivot
1.2435
Our preference
Long positions above 1.2435 with targets at 1.2500 & 1.2520 in extension.
Alternative scenario
Below 1.2435 look for further downside with 1.2420 & 1.2400 as targets.
Comment
The RSI calls for a rebound.
Gold
may rise to 1769.00 – 1781.00
Pivot
1750.00
Our preference
Long positions above 1750.00 with targets at 1769.00 & 1781.00 in extension.
Alternative scenario
Below 1750.00 look for further downside with 1742.00 & 1735.00 as targets.
Comment
The RSI is mixed to bullish.
Crude Oil (WTI)
may rise to 86.00 – 90.00
Pivot
73.10
Our preference
Long positions above 73.10 with targets at 86.00 & 90.00 in extension.
Alternative scenario
Below 73.10 look for further downside with 69.50 & 66.70 as targets.
Comment
The RSI shows upside momentum.
S&P 500 (CME)
may fall to 4274.00 – 4295.00
Pivot
4365.00
Our preference
Short positions below 4365.00 with targets at 4295.00 & 4274.00 in extension.
Alternative scenario
Above 4365.00 look for further upside with 4384.00 & 4407.00 as targets.
Comment
The RSI is bearish and calls for further decline.
Nasdaq 100 (CME)
may fall to 14420.00 – 14580.00
Pivot
14780.00
Our preference
Short positions below 14780.00 with targets at 14580.00 & 14420.00 in extension.
Alternative scenario
Above 14780.00 look for further upside with 14890.00 & 15000.00 as targets.
Comment
A break below 14580.00 would trigger a drop towards 14420.00.
Hang Seng (HKFE)
may fall to 24560.00 – 24820.00
Pivot
25150.00
Our preference
Short positions below 25150.00 with targets at 24820.00 & 24560.00 in extension.
Alternative scenario
Above 25150.00 look for further upside with 25380.00 & 25585.00 as targets.
Comment
Technically the RSI is below its neutrality area at 50. The market is halt due to No. 8 Typhoon Alert.
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.
