1. Daily technical analysis of selected currency pairs

USD/DKK Bearish

Image Features: forms “Inside Bar (Bearish)” pattern

Target
Opportunity recognized 2021 Jun 08 for the period of up to 12 hours
-0.00320 (32 pips) price change since the Technical Event at 6.10820

Technical Analysis
We found a pattern called Inside Bar (Bearish) on 2021 Jun 08 at 23:00 GMT on a 1 hour chart suggesting the outlook is bearish for up to 12 hours.

The Williams %R indicator triggered a bearish signal on 2021 Jun 09 at 03:00 GMT, having fallen out of overbought (-20 level) and continued on to cross below the -50 level.

CAD/JPY Bullish

Image Features: forms “Hammer” pattern

Target
Opportunity recognized 2021 Jun 08 for the period of up to 12 hours
-0.038 (3.8 pips) price change since the Technical Event at 90.442

Technical Analysis
We found a pattern called Hammer on 2021 Jun 08 at 19:00 GMT on a 1 hour chart suggesting the outlook is bullish for up to 12 hours.

The Momentum oscillator crossed above 0 on 2021 Jun 09 at 04:00 GMT, thereby signaling a new accelerating uptrend.

2. Daily Analyst’s View

EUR/USD

may rise 18 – 33 pips

Pivot
1.2160

Our preference
Long positions above 1.2160 with targets at 1.2200 & 1.2215 in extension.

Alternative scenario
Below 1.2160 look for further downside with 1.2145 & 1.2130 as targets.

Comment
The RSI advocates for further upside.

GBP/USD

may rise 21 – 36 pips

Pivot
1.4140

Our preference
Long positions above 1.4140 with targets at 1.4185 & 1.4200 in extension.

Alternative scenario
Below 1.4140 look for further downside with 1.4120 & 1.4100 as targets.

Comment
The RSI advocates for further advance.

USD/CAD

may rise 26 – 46 pips

Pivot
1.2080

Our preference
Long positions above 1.2080 with targets at 1.2135 & 1.2155 in extension.

Alternative scenario
Below 1.2080 look for further downside with 1.2065 & 1.2050 as targets.

Comment
The RSI has just landed on its neutrality area at 50% and is turning up.

Gold

may rise to 1903.00 – 1909.00

Pivot
1883.00

Our preference
Long positions above 1883.00 with targets at 1903.00 & 1909.00 in extension.

Alternative scenario
Below 1883.00 look for further downside with 1877.00 & 1871.00 as targets.

Comment
The RSI calls for a bounce.

Crude Oil (WTI)

may rise to 71.50 – 72.00

Pivot
69.50

Our preference
Long positions above 69.50 with targets at 71.50 & 72.00 in extension.

Alternative scenario
Below 69.50 look for further downside with 68.90 & 68.45 as targets.

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

S&P 500 (CME)

may rise to 4238.00 – 4250.00

Pivot
4215.00

Our preference
Long positions above 4215.00 with targets at 4238.00 & 4250.00 in extension.

Alternative scenario
Below 4215.00 look for further downside with 4205.00 & 4195.00 as targets.

Comment
The RSI lacks downward momentum.

Nasdaq 100 (CME)

may rise to 13855.00 – 13920.00

Pivot
13760.00

Our preference
Long positions above 13760.00 with targets at 13855.00 & 13920.00 in extension.

Alternative scenario
Below 13760.00 look for further downside with 13695.00 & 13620.00 as targets.

Comment
A support base at 13760.00 has formed and has allowed for a temporary stabilisation.

Hang Seng (HKFE)

may fall to 28460.00 – 28560.00

Pivot
28780.00

Our preference
Short positions below 28780.00 with targets at 28560.00 & 28460.00 in extension.

Alternative scenario
Above 28780.00 look for further upside with 28895.00 & 28980.00 as targets.

Comment
The upward potential is likely to be limited by the resistance at 28780.00.

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.