1. Daily technical analysis of selected currency pairs
GBP/HKD Bullish
Image Features: forms “Engulfing Line (Bullish)” pattern
Target
Opportunity recognized 2021 Jul 05 for the period of up to 12 hours
+0.00146 (14.6 pips) price change since the Technical Event at 10.73650
Technical Analysis
We found a pattern called Engulfing Line (Bullish) on 2021 Jul 05 at 01:30 GMT on a 15 minute chart suggesting the outlook is bullish for up to 12 hours.
The Williams %R indicator triggered a bullish signal on 2021 Jul 05 at 03:30 GMT, having risen up out of oversold (-80 level) and continued on to cross above the -50 level.
USD/DKK Bullish
Image Features: forms “Engulfing Line (Bullish)” pattern
Target
Opportunity recognized 2021 Jul 02 for the period of up to 12 hours
+0.00460 (46 pips) price change since the Technical Event at 6.26680
Technical Analysis
We found a pattern called Engulfing Line (Bullish) on 2021 Jul 02 at 20:00 GMT on a 1 hour chart suggesting the outlook is bullish for up to 12 hours.
A bullish event triggered for Fast Stochastics on 2021 Jul 05 at 00:00 GMT when the %K line crossed above the %D line. The close prices are trading closer to the upper end of the recent high-low price range, which is associated with price increases.
2. Daily Analyst’s View
EUR/USD
may fall 14 – 29 pips
Pivot
1.1870
Our preference
Short positions below 1.1870 with targets at 1.1840 & 1.1825 in extension.
Alternative scenario
Above 1.1870 look for further upside with 1.1885 & 1.1900 as targets.
Comment
The RSI calls for a new downleg.
GBP/USD
may rise 23 – 48 pips
Pivot
1.1870
Our preference
Short positions below 1.1870 with targets at 1.1840 & 1.1825 in extension.
Alternative scenario
Above 1.1870 look for further upside with 1.1885 & 1.1900 as targets.
Comment
The RSI calls for a new downleg.
USD/CAD
may rise 21 – 46 pips
Pivot
1.2310
Our preference
Long positions above 1.2310 with targets at 1.2360 & 1.2385 in extension.
Alternative scenario
Below 1.2310 look for further downside with 1.2290 & 1.2270 as targets.
Comment
The RSI calls for a rebound.
Gold
may rise to 1795.00 – 1805.00
Pivot
1775.00
Our preference
Long positions above 1775.00 with targets at 1795.00 & 1805.00 in extension.
Alternative scenario
Below 1775.00 look for further downside with 1767.00 & 1760.00 as targets.
Comment
The RSI is bullish and calls for further upside.
Crude Oil (WTI)
may rise to 75.65 – 76.20
Pivot
74.60
Our preference
Long positions above 74.60 with targets at 75.65 & 76.20 in extension.
Alternative scenario
Below 74.60 look for further downside with 74.00 & 73.40 as targets.
Comment
The RSI is mixed to bullish.
S&P 500 (CME)
may rise to 4360.00 – 4375.00
Pivot
4320.00
Our preference
Long positions above 4320.00 with targets at 4360.00 & 4375.00 in extension.
Alternative scenario
Below 4320.00 look for further downside with 4309.00 & 4286.00 as targets.
Comment
The RSI is mixed with a bullish bias.
Nasdaq 100 (CME)
may rise to 14775.00 – 14825.00
Pivot
14630.00
Our preference
Long positions above 14630.00 with targets at 14775.00 & 14825.00 in extension.
Alternative scenario
Below 14630.00 look for further downside with 14555.00 & 14515.00 as targets.
Comment
The RSI is bullish and calls for further upside.
Hang Seng (HKFE)
may fall to 27800.00 – 27980.00
Pivot
28340.00
Our preference
Short positions below 28340.00 with targets at 27980.00 & 27800.00 in extension.
Alternative scenario
Above 28340.00 look for further upside with 28580.00 & 28765.00 as targets.
Comment
As long as the resistance at 28340.00 is not surpassed, the risk of the break below 27980.00 remains high.
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.
