1. Daily technical analysis of selected currency pairs
AUD/JPY Bearish
Image Features: forms “Engulfing Line (Bearish)” pattern
Target
Opportunity recognized 2021 Oct 25 for the period of up to 12 hours
+0.159 (15.9 pips) price change since the Technical Event at 84.915
Technical Analysis
We found a pattern called Engulfing Line (Bearish) on 2021 Oct 25 at 02:00 GMT on a 30 minute chart suggesting the outlook is bearish for up to 12 hours.
A bearish event triggered for Fast Stochastics on 2021 Oct 25 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.
EUR/CAD Bullish
Image Features: forms “Double Bottom (Bullish)” pattern
Target
Opportunity recognized 2021 Oct 23 for the period of up to 2 weeks
-0.00221 (22.1 pips) price change since the Technical Event at 1.44099
Technical Analysis
We found a pattern called Double Bottom on 2021 Oct 23 at 01:00 GMT on a 4 hour chart, providing a target price for up to 2 weeks in the range of 1.45000 to 1.46000.
The faster moving average crossed above the slower moving average on 2021 Oct 25 at 01:00 GMT, signaling a new uptrend has been established.
2. Daily Analyst’s View
EUR/USD
may rise 18 – 33 pips
Pivot
1.1615
Our preference
Long positions above 1.1615 with targets at 1.1655 & 1.1670 in extension.
Alternative scenario
Below 1.1615 look for further downside with 1.1600 & 1.1585 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
GBP/USD
may fall 35 – 55 pips
Pivot
1.3790
Our preference
Short positions below 1.3790 with targets at 1.3720 & 1.3700 in extension.
Alternative scenario
Above 1.3790 look for further upside with 1.3810 & 1.3830 as targets.
Comment
The RSI calls for a new downleg.
USD/CAD
may rise 16 – 36 pips
Pivot
1.2350
Our preference
Long positions above 1.2350 with targets at 1.2390 & 1.2410 in extension.
Alternative scenario
Below 1.2350 look for further downside with 1.2330 & 1.2310 as targets.
Comment
The RSI advocates for further upside.
Gold
may rise to 1806.00 – 1814.00
Pivot
1782.00
Our preference
Long positions above 1782.00 with targets at 1806.00 & 1814.00 in extension.
Alternative scenario
Below 1782.00 look for further downside with 1774.00 & 1766.00 as targets.
Comment
The RSI is mixed with a bullish bias.
Crude Oil (WTI)
may rise to 84.90 – 85.40
Pivot
83.25
Our preference
Long positions above 83.25 with targets at 84.90 & 85.40 in extension.
Alternative scenario
Below 83.25 look for further downside with 82.55 & 81.75 as targets.
Comment
The RSI is bullish and calls for further advance.
S&P 500 (CME)
may fall to 4504.00 – 4515.00
Pivot
4539.00
Our preference
Short positions below 4539.00 with targets at 4515.00 & 4504.00 in extension.
Alternative scenario
Above 4539.00 look for further upside with 4551.00 & 4570.00 as targets.
Comment
The RSI calls for a drop.
Nasdaq 100 (CME)
may fall to 15160.00 – 15220.00
Pivot
15380.00
Our preference
Short positions below 15380.00 with targets at 15220.00 & 15160.00 in extension.
Alternative scenario
Above 15380.00 look for further upside with 15430.00 & 15485.00 as targets.
Comment
The RSI is bearish and calls for further decline.
Hang Seng (HKFE)
may rise to 26220.00 – 26330.00
Pivot
25920.00
Our preference
Long positions above 25920.00 with targets at 26220.00 & 26330.00 in extension.
Alternative scenario
Below 25920.00 look for further downside with 25820.00 & 25720.00 as targets.
Comment
The RSI is below its neutrality area at 50% but reversing up.
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.
