1. Daily technical analysis of selected currency pairs
GBP/JPY Bullish
Image Features: forms “Triple Bottom (Bullish)” pattern
Target
Opportunity recognized 2021 Oct 28 for the period of up to 48 hours
+0.244 (24.4 pips) price change since the Technical Event at 156.507
Technical Analysis
We found a pattern called Triple Bottom on 2021 Oct 28 at 14:30 GMT on a 30 minute chart, providing a target price for up to 48 hours in the range of 157.050 to 157.150.
The faster moving average crossed above the slower moving average on 2021 Oct 28 at 15:30 GMT, signaling a new uptrend has been established.
CAD/CHF Bullish
Image Features: forms “Hammer (Bullish)” pattern
Target
Opportunity recognized 2021 Oct 29 for the period of up to 12 hours
-0.00006 (0.6 pips) price change since the Technical Event at 0.73777
Technical Analysis
We found a pattern called Hammer on 2021 Oct 29 at 01:30 GMT on a 30 minute chart suggesting the outlook is bullish for up to 12 hours.
The RSI rose above 30 on 2021 Oct 29 at 01:30 GMT, telling us the price is starting to recover from being oversold.
2. Daily Analyst’s View
EUR/USD
may rise 27 – 47 pips
Pivot
1.1650
Our preference
Long positions above 1.1650 with targets at 1.1710 & 1.1730 in extension.
Alternative scenario
Below 1.1650 look for further downside with 1.1625 & 1.1600 as targets.
Comment
The RSI is bullish and calls for further advance.
GBP/USD
may rise 32 – 52 pips
Pivot
1.3760
Our preference
Long positions above 1.3760 with targets at 1.3830 & 1.3850 in extension.
Alternative scenario
Below 1.3760 look for further downside with 1.3740 & 1.3720 as targets.
Comment
The RSI calls for a new upleg.
USD/CAD
may fall 25 – 45 pips
Pivot
1.2380
Our preference
Short positions below 1.2380 with targets at 1.2320 & 1.2300 in extension.
Alternative scenario
Above 1.2380 look for further upside with 1.2400 & 1.2430 as targets.
Comment
The RSI calls for a drop.
Gold
may rise to 1810.00 – 1814.00
Pivot
1791.00
Our preference
Long positions above 1791.00 with targets at 1810.00 & 1814.00 in extension.
Alternative scenario
Below 1791.00 look for further downside with 1786.00 & 1782.00 as targets.
Comment
The RSI is mixed with a bullish bias.
Crude Oil (WTI)
may rise to 83.35 – 84.25
Pivot
81.55
Our preference
Long positions above 81.55 with targets at 83.35 & 84.25 in extension.
Alternative scenario
Below 81.55 look for further downside with 80.60 & 79.90 as targets.
Comment
The RSI calls for a rebound.
S&P 500 (CME)
may rise to 4590.00 – 4600.00
Pivot
4570.00
Our preference
Long positions above 4570.00 with targets at 4590.00 & 4600.00 in extension.
Alternative scenario
Below 4570.00 look for further downside with 4559.00 & 4544.00 as targets.
Comment
The immediate trend remains up but the momentum is weak.
Nasdaq 100 (CME)
may rise to 15775.00 – 15845.00
Pivot
15625.00
Our preference
Long positions above 15625.00 with targets at 15775.00 & 15845.00 in extension.
Alternative scenario
Below 15625.00 look for further downside with 15580.00 & 15510.00 as targets.
Comment
A support base at 15625.00 has formed and has allowed for a temporary stabilisation.
Hang Seng (HKFE)
may fall to 25200.00 – 25330.00
Pivot
25700.00
Our preference
Short positions below 25700.00 with targets at 25330.00 & 25200.00 in extension.
Alternative scenario
Above 25700.00 look for further upside with 25775.00 & 25860.00 as targets.
Comment
A break below 25330.00 would trigger a drop towards 25200.00.
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.
