1. Daily technical analysis of selected currency pairs
AUD/JPY Bullish
Image Features: forms “Megaphone Bottom (Bullish)” pattern
Target
Opportunity recognized 2021 Dec 23 for the period of up to 2 weeks
+1.281 (128.1 pips) price change since the Technical Event at 82.435
Technical Analysis
We found a pattern called Megaphone Bottom on 2021 Dec 23 at 09:00 GMT on a 4 hour chart, providing a target price for up to 2 weeks in the range of 84.400 to 84.800.
The faster moving average crossed above the slower moving average on 2021 Dec 27 at 17:00 GMT, signaling a new uptrend has been established.
CAD/JPY Bullish
Image Features: forms “Megaphone Bottom (Bullish)” pattern
Target
Opportunity recognized 2021 Dec 31 for the period of up to 2 weeks
+0.729 (72.9 pips) price change since the Technical Event at 90.365
Technical Analysis
We found a pattern called Megaphone Bottom on 2021 Dec 31 at 09:00 GMT on a 4 hour chart, providing a target price for up to 2 weeks in the range of 93.000 to 93.600.
The faster moving average crossed above the slower moving average on 2021 Dec 31 at 13:00 GMT, signaling a new uptrend has been established.
2. Daily Analyst’s View
EUR/USD
may rise 18 – 28 pips
Pivot
1.1310
Our preference
Long positions above 1.1310 with targets at 1.1360 & 1.1370 in extension.
Alternative scenario
Below 1.1310 look for further downside with 1.1295 & 1.1275 as targets.
Comment
The RSI shows upside momentum.
GBP/USD
may rise 32 – 52 pips
Pivot
1.3475
Our preference
Long positions above 1.3475 with targets at 1.3540 & 1.3560 in extension.
Alternative scenario
Below 1.3475 look for further downside with 1.3450 & 1.3430 as targets.
Comment
The RSI shows upside momentum.
USD/CAD
may fall 35 – 60 pips
Pivot
1.2750
Our preference
Short positions below 1.2750 with targets at 1.2650 & 1.2625 in extension.
Alternative scenario
Above 1.2750 look for further upside with 1.2770 & 1.2790 as targets.
Comment
The RSI shows downside momentum.
Gold
may rise to 1840.00 – 1850.00
Pivot
1814.00
Our preference
Long positions above 1814.00 with targets at 1840.00 & 1850.00 in extension.
Alternative scenario
Below 1814.00 look for further downside with 1807.00 & 1800.00 as targets.
Comment
The RSI advocates for further upside.
Crude Oil (WTI)
may rise to 77.10 – 77.45
Pivot
75.75
Our preference
Long positions above 75.75 with targets at 77.10 & 77.45 in extension.
Alternative scenario
Below 75.75 look for further downside with 75.25 & 74.75 as targets.
Comment
The RSI is mixed to bullish.
S&P 500 (CME)
may rise to 4935.00 – 5050.00
Pivot
4645.00
Our preference
Long positions above 4645.00 with targets at 4935.00 & 5050.00 in extension.
Alternative scenario
Below 4645.00 look for further downside with 4500.00 & 4255.00 as targets.
Comment
The RSI advocates for further upside.
Nasdaq 100 (CME)
may rise to 16760.00 – 17100.00
Pivot
16000.00
Our preference
Long positions above 16000.00 with targets at 16760.00 & 17100.00 in extension.
Alternative scenario
Below 16000.00 look for further downside with 15485.00 & 14985.00 as targets.
Comment
The RSI is mixed with a bullish bias.
Hang Seng (HKFE)
may rise to 23600.00 – 23700.00
Pivot
23355.00
Our preference
Long positions above 23355.00 with targets at 23600.00 & 23700.00 in extension.
Alternative scenario
Below 23355.00 look for further downside with 23210.00 & 23080.00 as targets.
Comment
A support base at 23355.00 has formed and has allowed for a temporary stabilisation.
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.
