1. Daily technical analysis of selected currency pairs
AUD/JPY Bullish
Image Features: forms “Continuation Diamond (Bullish)” pattern
Target
Opportunity recognized 2022 Feb 07 for the period of up to 2 weeks
+0.354 (35.4 pips) price change since the Technical Event at 81.818
Technical Analysis
We found a pattern called Continuation Diamond (Bullish) on 2022 Feb 07 at 17:00 GMT on a 4 hour chart, providing a target price for up to 2 weeks in the range of 83.500 to 83.900.
The price crossed above its moving average on 2022 Feb 04 at 21:00 GMT signaling a new uptrend has been established.
CAD/JPY Bullish
Image Features: forms “Diamond Bottom (Bullish)” pattern
Target
Opportunity recognized 2022 Feb 03 for the period of up to 2 weeks
+0.632 (63.2 pips) price change since the Technical Event at 90.292
Technical Analysis
We found a pattern called Diamond Bottom on 2022 Feb 03 at 07:00 GMT on a 1 hour chart, providing a target price for up to 2 weeks in the range of 91.150 to 91.350.
The price crossed above its moving average on 2022 Feb 07 at 14:00 GMT signaling a new uptrend has been established.
2. Daily Analyst’s View
EUR/USD
may rise 21 – 31 pips
Pivot
1.1415
Our preference
Long positions above 1.1415 with targets at 1.1450 & 1.1460 in extension.
Alternative scenario
Below 1.1415 look for further downside with 1.1400 & 1.1385 as targets.
Comment
A support base at 1.1415 has formed and has allowed for a temporary stabilisation.
GBP/USD
may rise 16 – 36 pips
Pivot
1.3515
Our preference
Long positions above 1.3515 with targets at 1.3550 & 1.3570 in extension.
Alternative scenario
Below 1.3515 look for further downside with 1.3495 & 1.3475 as targets.
Comment
The RSI lacks downward momentum.
USD/CAD
may fall 25 – 40 pips
Pivot
1.2695
Our preference
Short positions below 1.2695 with targets at 1.2655 & 1.2640 in extension.
Alternative scenario
Above 1.2695 look for further upside with 1.2715 & 1.2735 as targets.
Comment
The upward potential is likely to be limited by the resistance at 1.2695.
Gold
may rise to 1828.00 – 1835.00
Pivot
1811.00
Our preference
Long positions above 1811.00 with targets at 1828.00 & 1835.00 in extension.
Alternative scenario
Below 1811.00 look for further downside with 1802.00 & 1795.00 as targets.
Comment
The RSI is bullish and calls for further upside.
Crude Oil (WTI)
may fall to 89.40 – 90.00
Pivot
92.25
Our preference
Short positions below 92.25 with targets at 90.00 & 89.40 in extension.
Alternative scenario
Above 92.25 look for further upside with 93.15 & 94.00 as targets.
Comment
As long as 92.25 is resistance, expect a return to 90.00.
S&P 500 (CME)
may fall to 4412.00 – 4438.00
Pivot
4523.00
Our preference
Short positions below 4523.00 with targets at 4438.00 & 4412.00 in extension.
Alternative scenario
Above 4523.00 look for further upside with 4543.00 & 4585.00 as targets.
Comment
As long as 4523.00 is resistance, expect a return to 4438.00.
Nasdaq 100 (CME)
may fall to 14270.00 – 14410.00
Pivot
14810.00
Our preference
Short positions below 14810.00 with targets at 14410.00 & 14270.00 in extension.
Alternative scenario
Above 14810.00 look for further upside with 15000.00 & 15140.00 as targets.
Comment
As long as the resistance at 14810.00 is not surpassed, the risk of the break below 14410.00 remains high.
Hang Seng (HKFE)
may fall to 23760.00 – 24000.00
Pivot
24540.00
Our preference
Short positions below 24540.00 with targets at 24000.00 & 23760.00 in extension.
Alternative scenario
Above 24540.00 look for further upside with 24750.00 & 25020.00 as targets.
Comment
The RSI has broken down its 30 level.
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.
