1. Daily technical analysis of selected currency pairs
AUD/JPY Bearish
Image Features: forms “Double Top (Bearish)” pattern
Target
Opportunity recognized 2022 Jan 13 for the period of up to 2 weeks
-0.620 (62 pips) price change since the Technical Event at 83.330
Technical Analysis
We found a pattern called Double Top on 2022 Jan 13 at 16:00 GMT on a 1 hour chart, providing a target price for up to 2 weeks in the range of 82.880 to 82.960.
The price crossed below its moving average on 2022 Jan 13 at 17:00 GMT signaling a new downtrend 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
+0.525 (52.5 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 fall 23 – 38 pips
Pivot
1.1480
Our preference
Short positions below 1.1480 with targets at 1.1435 & 1.1420 in extension.
Alternative scenario
Above 1.1480 look for further upside with 1.1495 & 1.1510 as targets.
Comment
The upward potential is likely to be limited by the resistance at 1.1480.
GBP/USD
may fall 34 – 54 pips
Pivot
1.3750
Our preference
Short positions below 1.3750 with targets at 1.3680 & 1.3660 in extension.
Alternative scenario
Above 1.3750 look for further upside with 1.3770 & 1.3790 as targets.
Comment
The RSI calls for a drop.
USD/CAD
may rise 35 – 55 pips
Pivot
1.2470
Our preference
Long positions above 1.2470 with targets at 1.2540 & 1.2560 in extension.
Alternative scenario
Below 1.2470 look for further downside with 1.2450 & 1.2430 as targets.
Comment
The RSI advocates for further upside.
Gold
may fall to 1801.00 – 1811.00
Pivot
1828.00
Our preference
Short positions below 1828.00 with targets at 1811.00 & 1801.00 in extension.
Alternative scenario
Above 1828.00 look for further upside with 1838.00 & 1848.00 as targets.
Comment
As long as 1828.00 is resistance, look for choppy price action with a bearish bias.
Crude Oil (WTI)
may rise to 94.60 – 102.00
Pivot
66.20
Our preference
Long positions above 66.20 with targets at 94.60 & 102.00 in extension.
Alternative scenario
Below 66.20 look for further downside with 60.40 & 54.90 as targets.
Comment
The RSI advocates for further advance.
S&P 500 (CME)
may fall to 4607.00 – 4630.00
Pivot
4685.00
Our preference
Short positions below 4685.00 with targets at 4630.00 & 4607.00 in extension.
Alternative scenario
Above 4685.00 look for further upside with 4700.00 & 4736.00 as targets.
Comment
The RSI is bearish and calls for further downside.
Nasdaq 100 (CME)
may fall to 15150.00 – 15330.00
Pivot
15715.00
Our preference
Short positions below 15715.00 with targets at 15330.00 & 15150.00 in extension.
Alternative scenario
Above 15715.00 look for further upside with 16010.00 & 16150.00 as targets.
Comment
The RSI is bearish and calls for further decline.
Hang Seng (HKFE)
may fall to 24000.00 – 24200.00
Pivot
24560.00
Our preference
Short positions below 24560.00 with targets at 24200.00 & 24000.00 in extension.
Alternative scenario
Above 24560.00 look for further upside with 24810.00 & 25120.00 as targets.
Comment
As long as 24560.00 is resistance, look for choppy price action with a bearish bias.
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.
