1. Daily technical analysis of selected currency pairs
AUD/JPY Bearish
Image Features: forms “Megaphone Top (Bearish)” pattern
Target
Opportunity recognized 2022 Jan 07 for the period of up to 2 weeks
-0.031 (3.1 pips) price change since the Technical Event at 82.781
Technical Analysis
We found a pattern called Megaphone Top on 2022 Jan 07 at 14:00 GMT on a 1 hour chart, providing a target price for up to 2 weeks in the range of 81.100 to 81.400.
The faster moving average crossed below the slower moving average on 2022 Jan 14 at 13:00 GMT, signaling a new downtrend has been established.
EUR/JPY Bearish
Image Features: forms “Engulfing Line (Bearish)” pattern
Target
Opportunity recognized 2022 Jan 18 for the period of up to 12 hours
-1.340 (134 pips) price change since the Technical Event at 130.910
Technical Analysis
We found a pattern called Engulfing Line (Bearish) on 2022 Jan 18 at 08:00 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 Jan 18 at 10:15 GMT, signaling a new downtrend has been established.
2. Daily Analyst’s View
EUR/USD
may rise 22 – 32 pips
Pivot
1.1335
Our preference
Long positions above 1.1335 with targets at 1.1370 & 1.1380 in extension.
Alternative scenario
Below 1.1335 look for further downside with 1.1320 & 1.1300 as targets.
Comment
The RSI lacks downward momentum.
GBP/USD
may rise 24 – 44 pips
Pivot
1.3605
Our preference
Long positions above 1.3605 with targets at 1.3650 & 1.3670 in extension.
Alternative scenario
Below 1.3605 look for further downside with 1.3585 & 1.3570 as targets.
Comment
The RSI shows upside momentum.
USD/CAD
may fall 22 – 37 pips
Pivot
1.2520
Our preference
Short positions below 1.2520 with targets at 1.2460 & 1.2445 in extension.
Alternative scenario
Above 1.2520 look for further upside with 1.2540 & 1.2560 as targets.
Comment
The RSI shows downside momentum.
Gold
may rise to 1850.00 – 1858.00
Pivot
1829.00
Our preference
Long positions above 1829.00 with targets at 1850.00 & 1858.00 in extension.
Alternative scenario
Below 1829.00 look for further downside with 1824.00 & 1819.00 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Crude Oil (WTI)
may rise to 86.00 – 86.80
Pivot
84.70
Our preference
Long positions above 84.70 with targets at 86.00 & 86.80 in extension.
Alternative scenario
Below 84.70 look for further downside with 84.00 & 83.55 as targets.
Comment
The RSI lacks downward momentum.
S&P 500 (CME)
may fall to 4460.00 – 4495.00
Pivot
4602.00
Our preference
Short positions below 4602.00 with targets at 4495.00 & 4460.00 in extension.
Alternative scenario
Above 4602.00 look for further upside with 4639.00 & 4680.00 as targets.
Comment
As long as the resistance at 4602.00 is not surpassed, the risk of the break below 4495.00 remains high.
Nasdaq 100 (CME)
may fall to 14850.00 – 14990.00
Pivot
15316.00
Our preference
Short positions below 15316.00 with targets at 14990.00 & 14850.00 in extension.
Alternative scenario
Above 15316.00 look for further upside with 15435.00 & 15560.00 as targets.
Comment
As long as the resistance at 15316.00 is not surpassed, the risk of the break below 14990.00 remains high.
Hang Seng (HKFE)
may rise to 25220.00 – 25440.00
Pivot
24560.00
Our preference
Long positions above 24560.00 with targets at 25220.00 & 25440.00 in extension.
Alternative scenario
Below 24560.00 look for further downside with 24400.00 & 24215.00 as targets.
Comment
The RSI shows upside momentum.
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.
