1. Daily technical analysis of selected currency pairs
AUD/JPY Bullish
Image Features: forms “Diamond Bottom (Bullish)” pattern
Target
Opportunity recognized 2022 Apr 11 for the period of up to 2 weeks
+0.688 (68.8 pips) price change since the Technical Event at 92.863
Technical Analysis
We found a pattern called Diamond Bottom on 2022 Apr 11 at 03:30 GMT on a 30 minute chart, providing a target price for up to 2 weeks in the range of 93.260 to 93.340.
The price crossed above its moving average on 2022 Apr 12 at 05:00 GMT signaling a new uptrend has been established.
CAD/JPY Bullish
Image Features: forms “Continuation Diamond (Bullish)” pattern
Target
Opportunity recognized 2022 Apr 08 for the period of up to 2 weeks
+0.832 (83.2 pips) price change since the Technical Event at 98.548
Technical Analysis
We found a pattern called Continuation Diamond (Bullish) on 2022 Apr 08 at 05:30 GMT on a 30 minute chart, providing a target price for up to 2 weeks in the range of 100.600 to 101.100.
The faster moving average crossed above the slower moving average on 2022 Apr 11 at 03:30 GMT, signaling a new uptrend has been established.
2. Daily Analyst’s View
EUR/USD
may fall 27 – 47 pips
Pivot
1.0860
Our preference
Short positions below 1.0860 with targets at 1.0800 & 1.0780 in extension.
Alternative scenario
Above 1.0860 look for further upside with 1.0880 & 1.0900 as targets.
Comment
The RSI is bearish and calls for further decline.
GBP/USD
may fall 24 – 44 pips
Pivot
1.3030
Our preference
Short positions below 1.3030 with targets at 1.2980 & 1.2960 in extension.
Alternative scenario
Above 1.3030 look for further upside with 1.3050 & 1.3070 as targets.
Comment
The RSI advocates for further downside.
USD/CAD
may fall 37 – 57 pips
Pivot
1.2660
Our preference
Short positions below 1.2660 with targets at 1.2600 & 1.2580 in extension.
Alternative scenario
Above 1.2660 look for further upside with 1.2680 & 1.2700 as targets.
Comment
As long as 1.2660 is resistance, look for choppy price action with a bearish bias.
Gold
may rise to 1978.00 – 1986.00
Pivot
1955.00
Our preference
Long positions above 1955.00 with targets at 1978.00 & 1986.00 in extension.
Alternative scenario
Below 1955.00 look for further downside with 1949.00 & 1940.00 as targets.
Comment
The RSI is mixed to bullish.
Crude Oil (WTI)
may rise to 102.40 – 103.80
Pivot
99.90
Our preference
Long positions above 99.90 with targets at 102.40 & 103.80 in extension.
Alternative scenario
Below 99.90 look for further downside with 98.70 & 97.60 as targets.
Comment
The next resistances are at 102.40 and then at 103.80.
S&P 500 (CME)
may fall to 4338.00 – 4365.00
Pivot
4416.00
Our preference
Short positions below 4416.00 with targets at 4365.00 & 4338.00 in extension.
Alternative scenario
Above 4416.00 look for further upside with 4450.00 & 4470.00 as targets.
Comment
The index currently faces a challenging resistance area at 4416.00.
Nasdaq 100 (CME)
may fall to 13680.00 – 13840.00
Pivot
14130.00
Our preference
Short positions below 14130.00 with targets at 13840.00 & 13680.00 in extension.
Alternative scenario
Above 14130.00 look for further upside with 14300.00 & 14490.00 as targets.
Comment
The index currently faces a challenging resistance area at 14130.00.
Hang Seng (HKFE)
may fall to 20710.00 – 21000.00
Pivot
21550.00
Our preference
Short positions below 21550.00 with targets at 21000.00 & 20710.00 in extension.
Alternative scenario
Above 21550.00 look for further upside with 21760.00 & 21940.00 as targets.
Comment
The RSI calls for a new downleg.
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.
