1. Daily technical analysis of selected currency pairs
AUD/JPY Bullish
Image Features: forms “Diamond Bottom (Bullish)” pattern
Target
Opportunity recognized 2022 Mar 02 for the period of up to 2 weeks
+1.108 (110.8 pips) price change since the Technical Event at 83.827
Technical Analysis
We found a pattern called Diamond Bottom on 2022 Mar 02 at 13:00 GMT on a 4 hour chart, providing a target price for up to 2 weeks in the range of 87.400 to 88.200.
The price crossed above its moving average on 2022 Feb 24 at 17:00 GMT signaling a new uptrend has been established.
CAD/JPY Bearish
Image Features: forms “Megaphone Top (Bearish)” pattern
Target
Opportunity recognized 2022 Mar 04 for the period of up to 2 weeks
+0.255 (25.5 pips) price change since the Technical Event at 90.000
Technical Analysis
We found a pattern called Megaphone Top on 2022 Mar 04 at 17:00 GMT on a 4 hour chart, providing a target price for up to 2 weeks in the range of 87.800 to 88.200.
On 2022 Mar 04 at 21:00 GMT, the 4-bar Moving Average crossed below the 9-bar MA which crossed below the 18-bar MA, signaling a new downtrend has been established.
2. Daily Analyst’s View
EUR/USD
may fall 60 – 90 pips
Pivot
1.0930
Our preference
Short positions below 1.0930 with targets at 1.0810 & 1.0780 in extension.
Alternative scenario
Above 1.0930 look for further upside with 1.0955 & 1.0980 as targets.
Comment
The RSI has broken down its 30 level.
GBP/USD
may fall 30 – 60 pips
Pivot
1.3250
Our preference
Short positions below 1.3250 with targets at 1.3180 & 1.3150 in extension.
Alternative scenario
Above 1.3250 look for further upside with 1.3280 & 1.3310 as targets.
Comment
The RSI calls for a new downleg.
USD/CAD
may fall 35 – 65 pips
Pivot
1.2760
Our preference
Short positions below 1.2760 with targets at 1.2690 & 1.2660 in extension.
Alternative scenario
Above 1.2760 look for further upside with 1.2790 & 1.2820 as targets.
Comment
The RSI calls for a drop.
Gold
may rise to 2000.00 – 2015.00
Pivot
1965.00
Our preference
Long positions above 1965.00 with targets at 2000.00 & 2015.00 in extension.
Alternative scenario
Below 1965.00 look for further downside with 1951.00 & 1933.00 as targets.
Comment
The RSI is bullish and calls for further advance.
Crude Oil (WTI)
may rise to 132.00 – 136.00
Pivot
121.20
Our preference
Long positions above 121.20 with targets at 132.00 & 136.00 in extension.
Alternative scenario
Below 121.20 look for further downside with 116.00 & 112.00 as targets.
Comment
The RSI shows upside momentum.
S&P 500 (CME)
may fall to 4200.00 – 4227.00
Pivot
4320.00
Our preference
Short positions below 4320.00 with targets at 4227.00 & 4200.00 in extension.
Alternative scenario
Above 4320.00 look for further upside with 4353.00 & 4373.00 as targets.
Comment
The RSI is bearish and calls for further downside.
Nasdaq 100 (CME)
may fall to 13220.00 – 13400.00
Pivot
13850.00
Our preference
Short positions below 13850.00 with targets at 13400.00 & 13220.00 in extension.
Alternative scenario
Above 13850.00 look for further upside with 13985.00 & 14085.00 as targets.
Comment
The RSI has broken down its 30 level.
Hang Seng (HKFE)
may fall to 21140.00 – 21380.00
Pivot
21740.00
Our preference
Short positions below 21740.00 with targets at 21380.00 & 21140.00 in extension.
Alternative scenario
Above 21740.00 look for further upside with 22010.00 & 22220.00 as targets.
Comment
The RSI calls for a drop.
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.
