1. Daily technical analysis of selected currency pairs
AUD/JPY Bullish
Image Features: forms “Flag (Bullish)” pattern
Target
Opportunity recognized 2022 Apr 25 for the period of up to 48 hours
+0.064 (6.4 pips) price change since the Technical Event at 91.605
Technical Analysis
We found a pattern called Flag (Bullish) on 2022 Apr 25 at 19:00 GMT on a 1 hour chart, providing a target price for up to 48 hours in the range of 92.350 to 92.500.
On 2022 Apr 26 at 00:00 GMT, the 4-bar Moving Average crossed above the 9-bar MA which crossed above the 18-bar MA, signaling a new uptrend has been established.
CAD/JPY Bearish
Image Features: forms “Hanging Man (Bearish)” pattern
Target
Opportunity recognized 2022 Apr 26 for the period of up to 12 hours
+0.052 (5.2 pips) price change since the Technical Event at 100.391
Technical Analysis
We found a pattern called Hanging Man on 2022 Apr 26 at 02:50 GMT on a 5 minute chart suggesting the outlook is bearish for up to 12 hours.
The price broke above the upper Bollinger Band on 2022 Apr 26 at 02:40 GMT, suggesting the price is over-extended and may reverse.
2. Daily Analyst’s View
EUR/USD
may fall 30 – 50 pips
Pivot
1.0750
Our preference
Short positions below 1.0750 with targets at 1.0695 & 1.0675 in extension.
Alternative scenario
Above 1.0750 look for further upside with 1.0770 & 1.0790 as targets.
Comment
As long as the resistance at 1.0750 is not surpassed, the risk of the break below 1.0695 remains high.
GBP/USD
may fall 24 – 49 pips
Pivot
1.2765
Our preference
Short positions below 1.2765 with targets at 1.2720 & 1.2695 in extension.
Alternative scenario
Above 1.2765 look for further upside with 1.2790 & 1.2820 as targets.
Comment
The upward potential is likely to be limited by the resistance at 1.2765.
USD/CAD
may fall 20 – 50 pips
Pivot
1.2775
Our preference
Short positions below 1.2775 with targets at 1.2710 & 1.2680 in extension.
Alternative scenario
Above 1.2775 look for further upside with 1.2800 & 1.2830 as targets.
Comment
A break below 1.2710 would trigger a drop towards 1.2680.
Gold
may fall to 1878.00 – 1890.00
Pivot
1912.00
Our preference
Short positions below 1912.00 with targets at 1890.00 & 1878.00 in extension.
Alternative scenario
Above 1912.00 look for further upside with 1926.00 & 1936.00 as targets.
Comment
As long as the resistance at 1912.00 is not surpassed, the risk of the break below 1890.00 remains high.
Crude Oil (WTI)
may rise to 101.20 – 102.80
Pivot
96.80
Our preference
Long positions above 96.80 with targets at 101.20 & 102.80 in extension.
Alternative scenario
Below 96.80 look for further downside with 95.25 & 94.00 as targets.
Comment
The RSI calls for a rebound.
S&P 500 (CME)
may rise to 4361.00 – 4398.00
Pivot
4204.00
Our preference
Long positions above 4204.00 with targets at 4361.00 & 4398.00 in extension.
Alternative scenario
Below 4204.00 look for further downside with 4154.00 & 4115.00 as targets.
Comment
The next resistances are at 4361.00 and then at 4398.00.
Nasdaq 100 (CME)
may rise to 13780.00 – 13960.00
Pivot
13200.00
Our preference
Long positions above 13200.00 with targets at 13780.00 & 13960.00 in extension.
Alternative scenario
Below 13200.00 look for further downside with 12970.00 & 12820.00 as targets.
Comment
The RSI shows upside momentum.
Hang Seng (HKFE)
may fall to 19420.00 – 19660.00
Pivot
20210.00
Our preference
Short positions below 20210.00 with targets at 19660.00 & 19420.00 in extension.
Alternative scenario
Above 20210.00 look for further upside with 20450.00 & 20700.00 as targets.
Comment
The RSI is mixed to bearish.
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.
