1. Daily technical analysis of selected currency pairs
GBP/JPY Bullish
Image Features: forms “Inside Bar (Bullish)” pattern
Target
Opportunity recognized 2021 Aug 09 for the period of up to 12 hours
-0.003 (0.3 pips) price change since the Technical Event at 152.822
Technical Analysis
We found a pattern called Inside Bar (Bullish) on 2021 Aug 09 at 02:15 GMT on a 15 minute chart suggesting the outlook is bullish for up to 12 hours.
The MACD generated a bullish signal on 2021 Aug 09 at 03:15 GMT.
USD/AUD Bullish
Image Features: forms “Diamond Bottom (Bullish)” pattern
Target
Opportunity recognized 2021 Aug 06 for the period of up to 2 weeks
+0.00501 (50.1 pips) price change since the Technical Event at 1.35455
Technical Analysis
We found a pattern called Diamond Bottom on 2021 Aug 06 at 13:00 GMT on a 30 minute chart, providing a target price for up to 2 weeks in the range of 1.37000 to 1.38000.
The faster moving average crossed above the slower moving average on 2021 Aug 06 at 17:30 GMT, signaling a new uptrend has been established.
2. Daily Analyst’s View
EUR/USD
may fall 20 – 40 pips
Pivot
1.1780
Our preference
Short positions below 1.1780 with targets at 1.1740 & 1.1720 in extension.
Alternative scenario
Above 1.1780 look for further upside with 1.1800 & 1.1820 as targets.
Comment
Even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.
GBP/USD
may fall 27 – 47 pips
Pivot
1.3890
Our preference
Short positions below 1.3890 with targets at 1.3840 & 1.3820 in extension.
Alternative scenario
Above 1.3890 look for further upside with 1.3910 & 1.3930 as targets.
Comment
As long as 1.3890 is resistance, look for choppy price action with a bearish bias.
USD/CAD
may rise 28 – 48 pips
Pivot
1.2540
Our preference
Long positions above 1.2540 with targets at 1.2600 & 1.2620 in extension.
Alternative scenario
Below 1.2540 look for further downside with 1.2520 & 1.2500 as targets.
Comment
The RSI is bullish and calls for further upside.
Gold
may rise to 1748.00 – 1766.00
Pivot
1717.00
Our preference
Long positions above 1717.00 with targets at 1748.00 & 1766.00 in extension.
Alternative scenario
Below 1717.00 look for further downside with 1702.00 & 1680.00 as targets.
Comment
The RSI calls for a rebound.
Crude Oil (WTI)
may fall to 65.00 – 66.00
Pivot
68.10
Our preference
Short positions below 68.10 with targets at 66.00 & 65.00 in extension.
Alternative scenario
Above 68.10 look for further upside with 68.80 & 69.45 as targets.
Comment
The immediate trend remains down and the momentum is strong.
S&P 500 (CME)
may fall to 4391.00 – 4400.00
Pivot
4432.00
Our preference
Short positions below 4432.00 with targets at 4400.00 & 4391.00 in extension.
Alternative scenario
Above 4432.00 look for further upside with 4440.00 & 4448.00 as targets.
Comment
The RSI is bearish and calls for further downside.
Nasdaq 100 (CME)
may fall to 14885.00 – 14940.00
Pivot
15110.00
Our preference
Short positions below 15110.00 with targets at 14940.00 & 14885.00 in extension.
Alternative scenario
Above 15110.00 look for further upside with 15175.00 & 15240.00 as targets.
Comment
The RSI is mixed with a bearish bias.
Hang Seng (HKFE)
may rise to 26585.00 – 26800.00
Pivot
26150.00
Our preference
Long positions above 26150.00 with targets at 26585.00 & 26800.00 in extension.
Alternative scenario
Below 26150.00 look for further downside with 26025.00 & 25815.00 as targets.
Comment
The RSI calls for a rebound.
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.
