1. Daily technical analysis of selected currency pairs
AUD/JPY Bullish
Image Features: forms “Key Reversal Bar (Bullish)” pattern
Target
Opportunity recognized 2022 Jan 02 for the period of up to 12 hours
-0.022 (2.2 pips) price change since the Technical Event at 83.611
Technical Analysis
We found a pattern called Key Reversal Bar (Bullish) on 2022 Jan 02 at 23:00 GMT on a 1 hour chart suggesting the outlook is bullish for up to 12 hours.
The CCI triggered a bullish signal on 2022 Jan 03 at 00:00 GMT by crossing above the +100% level.
EUR/JPY Bullish
Image Features: forms “Double Bottom (Bullish)” pattern
Target
Opportunity recognized 2021 Dec 31 for the period of up to 48 hours
+0.432 (43.2 pips) price change since the Technical Event at 130.372
Technical Analysis
We found a pattern called Double Bottom on 2021 Dec 31 at 10:00 GMT on a 30 minute chart, providing a target price for up to 48 hours in the range of 130.580 to 130.620.
The faster moving average crossed above the slower moving average on 2021 Dec 31 at 14:00 GMT, signaling a new uptrend has been established.
2. Daily Analyst’s View
EUR/USD
may rise 18 – 38 pips
Pivot
1.1345
Our preference
Long positions above 1.1345 with targets at 1.1390 & 1.1410 in extension.
Alternative scenario
Below 1.1345 look for further downside with 1.1330 & 1.1315 as targets.
Comment
The RSI calls for a new upleg.
GBP/USD
may rise 27 – 47 pips
Pivot
1.3490
Our preference
Long positions above 1.3490 with targets at 1.3550 & 1.3570 in extension.
Alternative scenario
Below 1.3490 look for further downside with 1.3470 & 1.3450 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
USD/CAD
may fall 38 – 63 pips
Pivot
1.2690
Our preference
Short positions below 1.2690 with targets at 1.2605 & 1.2580 in extension.
Alternative scenario
Above 1.2690 look for further upside with 1.2715 & 1.2740 as targets.
Comment
The RSI is bearish and calls for further downside.
Gold
may rise to 1838.00 – 1845.00
Pivot
1820.00
Our preference
Long positions above 1820.00 with targets at 1838.00 & 1845.00 in extension.
Alternative scenario
Below 1820.00 look for further downside with 1814.00 & 1805.00 as targets.
Comment
The RSI is mixed with a bullish bias.
Crude Oil (WTI)
may fall to 74.60 – 75.20
Pivot
76.25
Our preference
Short positions below 76.25 with targets at 75.20 & 74.60 in extension.
Alternative scenario
Above 76.25 look for further upside with 76.95 & 77.45 as targets.
Comment
The RSI has just struck against its neutrality area at 50%.
S&P 500 (CME)
may fall to 4745.00 – 4754.00
Pivot
4780.00
Our preference
Short positions below 4780.00 with targets at 4754.00 & 4745.00 in extension.
Alternative scenario
Above 4780.00 look for further upside with 4790.00 & 4800.00 as targets.
Comment
The index currently faces a challenging resistance area at 4780.00.
Nasdaq 100 (CME)
may fall to 16280.00 – 16315.00
Pivot
16430.00
Our preference
Short positions below 16430.00 with targets at 16315.00 & 16280.00 in extension.
Alternative scenario
Above 16430.00 look for further upside with 16480.00 & 16560.00 as targets.
Comment
The index currently faces a challenging resistance area at 16430.00.
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
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.
