1. Daily technical analysis of selected currency pairs



AUD/JPY Bearish

Image Features: forms “Megaphone Top (Bearish)” pattern

Target
Opportunity recognized 2022 Mar 08 for the period of up to 2 weeks
+0.152 (15.2 pips) price change since the Technical Event at 84.164

Technical Analysis

We found a pattern called Megaphone Top on 2022 Mar 08 at 05:30 GMT on a 30 minute chart, providing a target price for up to 2 weeks in the range of 82.700 to 83.000.

The faster moving average crossed below the slower moving average on 2022 Mar 08 at 11:00 GMT, signaling a new downtrend has been established.

CAD/JPY Bullish

Image Features: forms “Key Reversal Bar (Bullish)” pattern

Target
Opportunity recognized 2022 Mar 08 for the period of up to 12 hours
+0.304 (30.4 pips) price change since the Technical Event at 89.693

Technical Analysis

We found a pattern called Key Reversal Bar (Bullish) on 2022 Mar 08 at 23:00 GMT on a 1 hour chart suggesting the outlook is bullish for up to 12 hours.

A bullish event triggered for Slow Stochastics on 2022 Mar 09 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.

2. Daily Analyst’s View

EUR/USD

may fall 29 – 54 pips

Pivot
1.0930

Our preference
Short positions below 1.0930 with targets at 1.0870 & 1.0845 in extension.

Alternative scenario
Above 1.0930 look for further upside with 1.0955 & 1.0980 as targets.

Comment
As long as 1.0930 is resistance, look for choppy price action with a bearish bias.

GBP/USD

may fall 20 – 40 pips

Pivot
1.3125

Our preference
Short positions below 1.3125 with targets at 1.3080 & 1.3060 in extension.

Alternative scenario
Above 1.3125 look for further upside with 1.3145 & 1.3165 as targets.

Comment
As long as the resistance at 1.3125 is not surpassed, the risk of the break below 1.3080 remains high.

USD/CAD

may rise 46 – 76 pips

Pivot
1.2830

Our preference
Long positions above 1.2830 with targets at 1.2930 & 1.2960 in extension.

Alternative scenario
Below 1.2830 look for further downside with 1.2800 & 1.2770 as targets.

Comment
The RSI advocates for further advance.

Gold

may rise to 2070.00 – 2100.00

Pivot
2020.00

Our preference
Long positions above 2020.00 with targets at 2070.00 & 2100.00 in extension.

Alternative scenario
Below 2020.00 look for further downside with 2000.00 & 1981.00 as targets.

Comment
The RSI is mixed with a bullish bias.

Crude Oil (WTI)

may rise to 130.40 – 133.00

Pivot
119.70

Our preference
Long positions above 119.70 with targets at 130.40 & 133.00 in extension.

Alternative scenario
Below 119.70 look for further downside with 117.80 & 115.60 as targets.

Comment
The RSI is mixed with a bullish bias.

S&P 500 (CME)

may fall to 4050.00 – 4100.00

Pivot
4218.00

Our preference
Short positions below 4218.00 with targets at 4100.00 & 4050.00 in extension.

Alternative scenario
Above 4218.00 look for further upside with 4274.00 & 4318.00 as targets.

Comment
The RSI is below its neutrality area at 50%.

Nasdaq 100 (CME)

may fall to 12970.00 – 13100.00

Pivot
13360.00

Our preference
Short positions below 13360.00 with targets at 13100.00 & 12970.00 in extension.

Alternative scenario
Above 13360.00 look for further upside with 13525.00 & 13670.00 as targets.

Comment
A break below 13100.00 would trigger a drop towards 12970.00.

Hang Seng (HKFE)

may fall to 20200.00 – 20560.00

Pivot
21050.00

Our preference
Short positions below 21050.00 with targets at 20560.00 & 20200.00 in extension.

Alternative scenario
Above 21050.00 look for further upside with 21270.00 & 21520.00 as targets.

Comment
The RSI shows downside momentum.

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.