1. Daily technical analysis of selected currency pairs



AUD/JPY Bullish

Image Features: forms “Engulfing Line (Bullish)” pattern

Target
Opportunity recognized 2022 Mar 07 for the period of up to 12 hours
+0.378 (37.8 pips) price change since the Technical Event at 84.358

Technical Analysis

We found a pattern called Engulfing Line (Bullish) on 2022 Mar 07 at 23:00 GMT on a 1 hour chart suggesting the outlook is bullish for up to 12 hours.

A bullish event triggered for Fast Stochastics on 2022 Mar 08 at 01:00 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.

CAD/JPY Bullish

Image Features: forms “Inside Bar (Bullish)” pattern

Target
Opportunity recognized 2022 Mar 07 for the period of up to 12 hours
+0.155 (15.5 pips) price change since the Technical Event at 90.016

Technical Analysis

We found a pattern called Inside Bar (Bullish) on 2022 Mar 07 at 21:30 GMT on a 30 minute chart suggesting the outlook is bullish for up to 12 hours.

The Momentum oscillator crossed above 0 on 2022 Mar 08 at 01:00 GMT, thereby signaling a new accelerating uptrend.

2. Daily Analyst’s View

EUR/USD

may fall 37 – 57 pips

Pivot
1.0900

Our preference
Short positions below 1.0900 with targets at 1.0825 & 1.0805 in extension.

Alternative scenario
Above 1.0900 look for further upside with 1.0930 & 1.0960 as targets.

Comment
As long as 1.0900 is resistance, look for choppy price action with a bearish bias.

GBP/USD

may fall 30 – 60 pips

Pivot
1.3160

Our preference
Short positions below 1.3160 with targets at 1.3080 & 1.3050 in extension.

Alternative scenario
Above 1.3160 look for further upside with 1.3190 & 1.3220 as targets.

Comment
The RSI calls for a new downleg.

USD/CAD

may rise 30 – 60 pips

Pivot
1.2760

Our preference
Long positions above 1.2760 with targets at 1.2840 & 1.2870 in extension.

Alternative scenario
Below 1.2760 look for further downside with 1.2730 & 1.2700 as targets.

Comment
The RSI is bullish and calls for further upside.

Gold

may rise to 2015.00 – 2025.00

Pivot
1977.00

Our preference
Long positions above 1977.00 with targets at 2015.00 & 2025.00 in extension.

Alternative scenario
Below 1977.00 look for further downside with 1961.00 & 1947.00 as targets.

Comment
The RSI is bullish and calls for further advance.

Crude Oil (WTI)

may fall to 112.00 – 115.50

Pivot
122.10

Our preference
Short positions below 122.10 with targets at 115.50 & 112.00 in extension.

Alternative scenario
Above 122.10 look for further upside with 126.60 & 130.40 as targets.

Comment
The index currently faces a challenging resistance area at 122.10.

S&P 500 (CME)

may fall to 4100.00 – 4155.00

Pivot
4244.00

Our preference
Short positions below 4244.00 with targets at 4155.00 & 4100.00 in extension.

Alternative scenario
Above 4244.00 look for further upside with 4292.00 & 4330.00 as targets.

Comment
The RSI has broken down its 30 level.

Nasdaq 100 (CME)

may fall to 12870.00 – 13030.00

Pivot
13550.00

Our preference
Short positions below 13550.00 with targets at 13030.00 & 12870.00 in extension.

Alternative scenario
Above 13550.00 look for further upside with 13760.00 & 13900.00 as targets.

Comment
The RSI advocates for further decline.

Hang Seng (HKFE)

may fall to 20400.00 – 20740.00

Pivot
21270.00

Our preference
Short positions below 21270.00 with targets at 20740.00 & 20400.00 in extension.

Alternative scenario
Above 21270.00 look for further upside with 21520.00 & 21770.00 as targets.

Comment
As long as the resistance at 21270.00 is not surpassed, the risk of the break below 20740.00 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.