1. Daily technical analysis of selected currency pairs
AUD/JPY Bullish
Image Features: forms “Continuation Diamond (Bullish)” pattern
Target
Opportunity recognized 2022 Mar 16 for the period of up to 2 weeks
+1.600 (159 pips) price change since the Technical Event at 85.202
Technical Analysis
We found a pattern called Continuation Diamond (Bullish) on 2022 Mar 16 at 09:00 GMT on a 4 hour chart, providing a target price for up to 2 weeks in the range of 87.100 to 87.500.
On 2022 Mar 16 at 17:00 GMT, the 4-bar Moving Average crossed above the 9-bar MA which crossed above the 18-bar MA, signaling a new uptrend has been established.
CAD/JPY Bullish
Image Features: forms “Megaphone Bottom (Bullish)” pattern
Target
Opportunity recognized 2022 Mar 10 for the period of up to 2 weeks
+3.007 (300.7 pips) price change since the Technical Event at 90.704
Technical Analysis
We found a pattern called Megaphone Bottom on 2022 Mar 10 at 14:00 GMT on a 1 hour chart, providing a target price for up to 2 weeks in the range of 91.800 to 92.000.
The faster moving average crossed above the slower moving average on 2022 Mar 11 at 07:00 GMT, signaling a new uptrend has been established.
2. Daily Analyst’s View
EUR/USD
may rise 24 – 54 pips
Pivot
1.1005
Our preference
Long positions above 1.1005 with targets at 1.1070 & 1.1100 in extension.
Alternative scenario
Below 1.1005 look for further downside with 1.0980 & 1.0950 as targets.
Comment
The RSI is bullish and calls for further upside.
GBP/USD
may rise 29 – 49 pips
Pivot
1.3110
Our preference
Long positions above 1.3110 with targets at 1.3175 & 1.3195 in extension.
Alternative scenario
Below 1.3110 look for further downside with 1.3090 & 1.3070 as targets.
Comment
The RSI is bullish and calls for further advance.
USD/CAD
may fall 26 – 56 pips
Pivot
1.2720
Our preference
Short positions below 1.2720 with targets at 1.2650 & 1.2620 in extension.
Alternative scenario
Above 1.2720 look for further upside with 1.2750 & 1.2780 as targets.
Comment
The RSI is bearish and calls for further decline.
Gold
may rise to 1954.00 – 1967.00
Pivot
1911.00
Our preference
Long positions above 1911.00 with targets at 1954.00 & 1967.00 in extension.
Alternative scenario
Below 1911.00 look for further downside with 1895.00 & 1881.00 as targets.
Comment
The RSI is bullish and calls for further upside.
Crude Oil (WTI)
may fall to 92.30 – 93.60
Pivot
98.60
Our preference
Short positions below 98.60 with targets at 93.60 & 92.30 in extension.
Alternative scenario
Above 98.60 look for further upside with 100.60 & 102.40 as targets.
Comment
The immediate trend remains down but the momentum is weak.
S&P 500 (CME)
may rise to 4410.00 – 4448.00
Pivot
4290.00
Our preference
Long positions above 4290.00 with targets at 4410.00 & 4448.00 in extension.
Alternative scenario
Below 4290.00 look for further downside with 4242.00 & 4208.00 as targets.
Comment
The RSI is bullish and calls for further advance.
Nasdaq 100 (CME)
may rise to 14200.00 – 14350.00
Pivot
13620.00
Our preference
Long positions above 13620.00 with targets at 14200.00 & 14350.00 in extension.
Alternative scenario
Below 13620.00 look for further downside with 13460.00 & 13260.00 as targets.
Comment
The RSI advocates for further upside.
Hang Seng (HKFE)
may rise to 21930.00 – 22800.00
Pivot
20110.00
Our preference
Long positions above 20110.00 with targets at 21930.00 & 22800.00 in extension.
Alternative scenario
Below 20110.00 look for further downside with 19300.00 & 18580.00 as targets.
Comment
The next resistances are at 21930.00 and then at 22800.00.
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.
