1. Daily technical analysis of selected currency pairs
AUD/JPY Bearish
Image Features: forms “Outside Bar (Bearish)” pattern
Target
Opportunity recognized 2022 Apr 06 for the period of up to 12 hours
+0.142 (14.2 pips) price change since the Technical Event at 93.842
Technical Analysis
We found a pattern called Outside Bar (Bearish) on 2022 Apr 06 at 01:00 GMT on a 15 minute chart suggesting the outlook is bearish for up to 12 hours.
A bearish event triggered for Fast Stochastics on 2022 Apr 06 at 01:15 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.
CAD/JPY Bullish
Image Features: forms “Continuation Diamond (Bullish)” pattern
Target
Opportunity recognized 2022 Apr 01 for the period of up to 2 weeks
+1.119 (111.9 pips) price change since the Technical Event at 98.099
Technical Analysis
We found a pattern called Continuation Diamond (Bullish) on 2022 Apr 01 at 13:00 GMT on a 30 minute chart, providing a target price for up to 2 weeks in the range of 99.200 to 99.400.
The faster moving average crossed above the slower moving average on 2022 Apr 04 at 01:00 GMT, signaling a new uptrend has been established.
2. Daily Analyst’s View
EUR/USD
may fall 24 – 44 pips
Pivot
1.0940
Our preference
Short positions below 1.0940 with targets at 1.0880 & 1.0860 in extension.
Alternative scenario
Above 1.0940 look for further upside with 1.0960 & 1.0985 as targets.
Comment
The RSI has broken down its 30 level.
GBP/USD
may fall 27 – 47 pips
Pivot
1.3110
Our preference
Short positions below 1.3110 with targets at 1.3050 & 1.3030 in extension.
Alternative scenario
Above 1.3110 look for further upside with 1.3130 & 1.3150 as targets.
Comment
The RSI is bearish and calls for further decline.
USD/CAD
may rise 22 – 42 pips
Pivot
1.2460
Our preference
Long positions above 1.2460 with targets at 1.2510 & 1.2530 in extension.
Alternative scenario
Below 1.2460 look for further downside with 1.2440 & 1.2420 as targets.
Comment
The RSI shows upside momentum.
Gold
may fall to 1907.00 – 1915.00
Pivot
1931.00
Our preference
Short positions below 1931.00 with targets at 1915.00 & 1907.00 in extension.
Alternative scenario
Above 1931.00 look for further upside with 1937.00 & 1944.00 as targets.
Comment
The RSI is bearish and calls for further downside.
Crude Oil (WTI)
may fall to 97.80 – 99.60
Pivot
103.00
Our preference
Short positions below 103.00 with targets at 99.60 & 97.80 in extension.
Alternative scenario
Above 103.00 look for further upside with 104.70 & 105.55 as targets.
Comment
The RSI is mixed with a bearish bias.
S&P 500 (CME)
may fall to 4476.00 – 4501.00
Pivot
4555.00
Our preference
Short positions below 4555.00 with targets at 4501.00 & 4476.00 in extension.
Alternative scenario
Above 4555.00 look for further upside with 4588.00 & 4610.00 as targets.
Comment
The RSI advocates for further decline.
Nasdaq 100 (CME)
may fall to 14660.00 – 14720.00
Pivot
14930.00
Our preference
Short positions below 14930.00 with targets at 14720.00 & 14660.00 in extension.
Alternative scenario
Above 14930.00 look for further upside with 15030.00 & 15130.00 as targets.
Comment
The RSI shows downside momentum.
Hang Seng (HKFE)
may rise to 22845.00 – 23000.00
Pivot
22400.00
Our preference
Long positions above 22400.00 with targets at 22845.00 & 23000.00 in extension.
Alternative scenario
Below 22400.00 look for further downside with 22070.00 & 21910.00 as targets.
Comment
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.
