1. Daily technical analysis of selected currency pairs
AUD/JPY Bearish
Image Features: forms “Flag (Bearish)” pattern
Target
Opportunity recognized 2021 Nov 02 for the period of up to 12 hours
-0.075 (7.5 pips) price change since the Technical Event at 84.679
Technical Analysis
We found a pattern called Flag (Bearish) on 2021 Nov 02 at 23:30 GMT on a 15 minute chart, providing a target price for up to 12 hours in the range of 84.430 to 84.470.
The price crossed below its moving average on 2021 Nov 03 at 02:15 GMT signaling a new downtrend has been established.
GBP/AUD Bullish
Image Features: forms “Inside Bar (Bullish)” pattern
Target
Opportunity recognized 2021 Nov 02 for the period of up to 12 hours
+0.00198 (19.8 pips) price change since the Technical Event at 1.83192
Technical Analysis
We found a pattern called Inside Bar (Bullish) on 2021 Nov 02 at 22:30 GMT on a 30 minute chart suggesting the outlook is bullish for up to 12 hours.
The price crossed above its moving average on 2021 Nov 03 at 02:00 GMT signaling a new uptrend has been established.
2. Daily Analyst’s View
EUR/USD
may fall 14 – 29 pips
Pivot
1.1600
Our preference
Short positions below 1.1600 with targets at 1.1565 & 1.1550 in extension.
Alternative scenario
Above 1.1600 look for further upside with 1.1615 & 1.1630 as targets.
Comment
The RSI advocates for further decline.
GBP/USD
may fall 25 – 45 pips
Pivot
1.3640
Our preference
Short positions below 1.3640 with targets at 1.3590 & 1.3570 in extension.
Alternative scenario
Above 1.3640 look for further upside with 1.3660 & 1.3680 as targets.
Comment
The RSI calls for a new downleg.
USD/CAD
may rise 23 – 43 pips
Pivot
1.2380
Our preference
Long positions above 1.2380 with targets at 1.2430 & 1.2450 in extension.
Alternative scenario
Below 1.2380 look for further downside with 1.2365 & 1.2350 as targets.
Comment
The RSI is above its neutrality area at 50%.
Gold
may fall to 1771.00 – 1780.00
Pivot
1797.00
Our preference
Short positions below 1797.00 with targets at 1780.00 & 1771.00 in extension.
Alternative scenario
Above 1797.00 look for further upside with 1804.00 & 1810.00 as targets.
Comment
The RSI is bearish and calls for further downside.
Crude Oil (WTI)
may fall to 81.40 – 82.45
Pivot
83.95
Our preference
Short positions below 83.95 with targets at 82.45 & 81.40 in extension.
Alternative scenario
Above 83.95 look for further upside with 84.40 & 84.90 as targets.
Comment
The RSI is bearish and calls for further downside.
S&P 500 (CME)
may rise to 4642.00 – 4660.00
Pivot
4602.00
Our preference
Long positions above 4602.00 with targets at 4642.00 & 4660.00 in extension.
Alternative scenario
Below 4602.00 look for further downside with 4581.00 & 4559.00 as targets.
Comment
The RSI is mixed with a bullish bias.
Nasdaq 100 (CME)
may rise to 16030.00 – 16100.00
Pivot
15850.00
Our preference
Long positions above 15850.00 with targets at 16030.00 & 16100.00 in extension.
Alternative scenario
Below 15850.00 look for further downside with 15765.00 & 15690.00 as targets.
Comment
The RSI is above its neutrality area at 50%.
Hang Seng (HKFE)
may fall to 24630.00 – 24785.00
Pivot
25070.00
Our preference
Short positions below 25070.00 with targets at 24785.00 & 24630.00 in extension.
Alternative scenario
Above 25070.00 look for further upside with 25300.00 & 25550.00 as targets.
Comment
As long as 25070.00 is resistance, likely decline to 24785.00.
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.
