1. Daily technical analysis of selected currency pairs



EUR/JPY Bullish

Image Features: forms “Megaphone Bottom (Bullish)” pattern

Target
Opportunity recognized 2021 Aug 23 for the period of up to 2 weeks
-0.073 (7.3 pips) price change since the Technical Event at 128.947

Technical Analysis

We found a pattern called Megaphone Bottom on 2021 Aug 23 at 09:00 GMT on a 4 hour chart, providing a target price for up to 2 weeks in the range of 130.000 to 130.200.

The price crossed above its moving average on 2021 Aug 24 at 17:00 GMT signaling a new uptrend has been established.

GBP/CAD Bearish

Image Features: forms “Hanging Man (Bearish)” pattern

Target
Opportunity recognized 2021 Aug 25 for the period of up to 12 hours
+0.00004 (0.4 pips) price change since the Technical Event at 1.73018

Technical Analysis

We found a pattern called Hanging Man on 2021 Aug 25 at 02:30 GMT on a 15 minute chart suggesting the outlook is bearish for up to 12 hours.

A bearish event triggered for Fast Stochastics on 2021 Aug 25 at 03:15 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.

2. Daily Analyst’s View

EUR/USD

may fall 13 – 33 pips

Pivot
1.1765

Our preference
Short positions below 1.1765 with targets at 1.1725 & 1.1705 in extension.

Alternative scenario
Above 1.1765 look for further upside with 1.1780 & 1.1795 as targets.

Comment
As long as the resistance at 1.1765 is not surpassed, the risk of the break below 1.1725 remains high.

GBP/USD

may fall 11 – 26 pips

Pivot
1.3735

Our preference
Short positions below 1.3735 with targets at 1.3705 & 1.3690 in extension.

Alternative scenario
Above 1.3735 look for further upside with 1.3750 & 1.3770 as targets.

Comment
The RSI calls for a new downleg.

USD/CAD

may rise 18 – 53 pips

Pivot
1.2580

Our preference
Long positions above 1.2580 with targets at 1.2630 & 1.2665 in extension.

Alternative scenario
Below 1.2580 look for further downside with 1.2550 & 1.2520 as targets.

Comment
The RSI calls for a rebound.

Gold

may fall to 1783.00 – 1789.00

Pivot
1803.00

Our preference
Short positions below 1803.00 with targets at 1789.00 & 1783.00 in extension.

Alternative scenario
Above 1803.00 look for further upside with 1810.00 & 1815.00 as targets.

Comment
The RSI is bearish and calls for further decline.

Crude Oil (WTI)

may rise to 68.35 – 69.00

Pivot
66.50

Our preference
Long positions above 66.50 with targets at 68.35 & 69.00 in extension.

Alternative scenario
Below 66.50 look for further downside with 66.00 & 65.20 as targets.

Comment
The RSI is mixed to bullish.

S&P 500 (CME)

may rise to 4500.00 – 4525.00

Pivot
4465.00

Our preference
Long positions above 4465.00 with targets at 4500.00 & 4525.00 in extension.

Alternative scenario
Below 4465.00 look for further downside with 4445.00 & 4420.00 as targets.

Comment
The RSI is around its neutrality area at 50%.

Nasdaq 100 (CME)

may rise to 15465.00 – 15550.00

Pivot
15270.00

Our preference
Long positions above 15270.00 with targets at 15465.00 & 15550.00 in extension.

Alternative scenario
Below 15270.00 look for further downside with 15200.00 & 15120.00 as targets.

Comment
The next resistances are at 15465.00 and then at 15550.00.

Hang Seng (HKFE)

may rise to 25950.00 – 26200.00

Pivot
25450.00

Our preference
Long positions above 25450.00 with targets at 25950.00 & 26200.00 in extension.

Alternative scenario
Below 25450.00 look for further downside with 25240.00 & 25020.00 as targets.

Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

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.