1. Daily technical analysis of selected currency pairs
AUD/JPY Bullish
Image Features: forms “Diamond Bottom (Bullish)” pattern
Target
Opportunity recognized 2022 Feb 01 for the period of up to 2 weeks
+0.829 (82.9 pips) price change since the Technical Event at 81.435
Technical Analysis
We found a pattern called Diamond Bottom on 2022 Feb 01 at 14:00 GMT on a 1 hour chart, providing a target price for up to 2 weeks in the range of 83.100 to 83.400.
The price crossed above its moving average on 2022 Feb 15 at 03:00 GMT signaling a new uptrend has been established.
CAD/JPY Bearish
Image Features: forms “Engulfing Line (Bearish)” pattern
Target
Opportunity recognized 2022 Feb 15 for the period of up to 12 hours
-0.034 (3.4 pips) price change since the Technical Event at 90.588
Technical Analysis
We found a pattern called Engulfing Line (Bearish) on 2022 Feb 15 at 03:15 GMT on a 15 minute chart suggesting the outlook is bearish for up to 12 hours.
The faster moving average crossed below the slower moving average on 2022 Feb 15 at 02:00 GMT, signaling a new downtrend has been established.
2. Daily Analyst’s View
EUR/USD
may rise 21 – 41 pips
Pivot
1.1285
Our preference
Long positions above 1.1285 with targets at 1.1330 & 1.1350 in extension.
Alternative scenario
Below 1.1285 look for further downside with 1.1265 & 1.1250 as targets.
Comment
The RSI lacks downward momentum.
GBP/USD
may rise 13 – 33 pips
Pivot
1.3510
Our preference
Long positions above 1.3510 with targets at 1.3550 & 1.3570 in extension.
Alternative scenario
Below 1.3510 look for further downside with 1.3490 & 1.3475 as targets.
Comment
The RSI shows upside momentum.
USD/CAD
may fall 15 – 35 pips
Pivot
1.2755
Our preference
Short positions below 1.2755 with targets at 1.2720 & 1.2700 in extension.
Alternative scenario
Above 1.2755 look for further upside with 1.2770 & 1.2785 as targets.
Comment
As long as the resistance at 1.2755 is not surpassed, the risk of the break below 1.2720 remains high.
Gold
may rise to 1880.00 – 1888.00
Pivot
1858.00
Our preference
Long positions above 1858.00 with targets at 1880.00 & 1888.00 in extension.
Alternative scenario
Below 1858.00 look for further downside with 1850.00 & 1842.00 as targets.
Comment
The RSI is bullish and calls for further upside.
Crude Oil (WTI)
may rise to 95.20 – 97.00
Pivot
93.35
Our preference
Long positions above 93.35 with targets at 95.20 & 97.00 in extension.
Alternative scenario
Below 93.35 look for further downside with 92.10 & 90.90 as targets.
Comment
The RSI is mixed with a bullish bias.
S&P 500 (CME)
may fall to 4320.00 – 4354.00
Pivot
4455.00
Our preference
Short positions below 4455.00 with targets at 4354.00 & 4320.00 in extension.
Alternative scenario
Above 4455.00 look for further upside with 4502.00 & 4550.00 as targets.
Comment
As long as 4455.00 is resistance, look for choppy price action with a bearish bias.
Nasdaq 100 (CME)
may fall to 13890.00 – 14030.00
Pivot
14480.00
Our preference
Short positions below 14480.00 with targets at 14030.00 & 13890.00 in extension.
Alternative scenario
Above 14480.00 look for further upside with 14600.00 & 14740.00 as targets.
Comment
As long as 14480.00 is resistance, look for choppy price action with a bearish bias.
Hang Seng (HKFE)
may fall to 24000.00 – 24150.00
Pivot
24560.00
Our preference
Short positions below 24560.00 with targets at 24150.00 & 24000.00 in extension.
Alternative scenario
Above 24560.00 look for further upside with 24760.00 & 24980.00 as targets.
Comment
The RSI is bearish and calls for further decline.
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.
