1. Daily technical analysis of selected currency pairs
GBP/CAD Bullish
Image Features: forms “Outside Bar (Bullish)” pattern
Target
Opportunity recognized 2021 Jun 02 for the period of up to 12 hours
-0.00069 (6.9 pips) price change since the Technical Event at 1.70819
Technical Analysis
We found a pattern called Outside Bar (Bullish) on 2021 Jun 02 at 03:00 GMT on a 1 hour chart suggesting the outlook is bullish for up to 12 hours.
The price crossed above its moving average on 2021 Jun 02 at 03:00 GMT signaling a new uptrend has been established.
EUR/DKK Bullish
Image Features: forms “Hammer (Bullish)” pattern
Target
Opportunity recognized 2021 Jun 02 for the period of up to 48 hours
-0.00030 (3 pips) price change since the Technical Event at 7.43670
Technical Analysis
We found a pattern called Hammer on 2021 Jun 02 at 01:00 GMT on a 4 hour chart suggesting the outlook is bullish for up to 48 hours.
The price crossed above its moving average on 2021 Jun 01 at 21:00 GMT signaling a new uptrend has been established.
2. Daily Analyst’s View
EUR/USD
may fall 14 – 29 pips
Pivot
1.2240
Our preference
Short positions below 1.2240 with targets at 1.2210 & 1.2195 in extension.
Alternative scenario
Above 1.2240 look for further upside with 1.2255 & 1.2270 as targets.
Comment
A break below 1.2210 would trigger a drop towards 1.2195.
GBP/USD
may fall 21 – 41 pips
Pivot
1.4180
Our preference
Short positions below 1.4180 with targets at 1.4140 & 1.4120 in extension.
Alternative scenario
Above 1.4180 look for further upside with 1.4200 & 1.4220 as targets.
Comment
As long as the resistance at 1.4180 is not surpassed, the risk of the break below 1.4140 remains high.
USD/CAD
may rise 21 – 36 pips
Pivot
1.2045
Our preference
Long positions above 1.2045 with targets at 1.2080 & 1.2095 in extension.
Alternative scenario
Below 1.2045 look for further downside with 1.2025 & 1.2005 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Gold
may fall to 1887.00 – 1892.00
Pivot
1905.00
Our preference
Short positions below 1905.00 with targets at 1892.00 & 1887.00 in extension.
Alternative scenario
Above 1905.00 look for further upside with 1911.00 & 1916.00 as targets.
Comment
The RSI is bearish and calls for further decline.
Crude Oil (WTI)
may rise to 68.40 – 68.85
Pivot
67.40
Our preference
Long positions above 67.40 with targets at 68.40 & 68.85 in extension.
Alternative scenario
Below 67.40 look for further downside with 66.75 & 66.40 as targets.
Comment
The RSI is below its neutrality area at 50% but reversing up.
S&P 500 (CME)
may rise to 4210.00 – 4218.00
Pivot
4190.00
Our preference
Long positions above 4190.00 with targets at 4210.00 & 4218.00 in extension.
Alternative scenario
Below 4190.00 look for further downside with 4183.00 & 4175.00 as targets.
Comment
A support base at 4190.00 has formed and has allowed for a temporary stabilisation.
Nasdaq 100 (CME)
may rise to 13700.00 – 13770.00
Pivot
13590.00
Our preference
Long positions above 13590.00 with targets at 13700.00 & 13770.00 in extension.
Alternative scenario
Below 13590.00 look for further downside with 13495.00 & 13425.00 as targets.
Comment
A support base at 13590.00 has formed and has allowed for a temporary stabilisation.
Hang Seng (HKFE)
may rise to 29450.00 – 29625.00
Pivot
29180.00
Our preference
Long positions above 29180.00 with targets at 29450.00 & 29625.00 in extension.
Alternative scenario
Below 29180.00 look for further downside with 29000.00 & 28785.00 as targets.
Comment
Technically the RSI is above its neutrality area at 50.
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.
