1. Daily technical analysis of selected currency pairs



AUD/JPY Bullish

Image Features: forms “Diamond Bottom (Bullish)” pattern

Target
Opportunity recognized 2022 Mar 09 for the period of up to 2 weeks
+0.305 (30.5 pips) price change since the Technical Event at 84.381

Technical Analysis

We found a pattern called Diamond Bottom on 2022 Mar 09 at 07:30 GMT on a 30 minute chart, providing a target price for up to 2 weeks in the range of 84.950 to 85.100.

The faster moving average crossed above the slower moving average on 2022 Mar 10 at 00:00 GMT, signaling a new uptrend has been established.

EUR/JPY Bullish

Image Features: forms “Inside Bar (Bullish)” pattern

Target
Opportunity recognized 2022 Mar 10 for the period of up to 12 hours
+0.076 (7.6 pips) price change since the Technical Event at 128.132

Technical Analysis

We found a pattern called Inside Bar (Bullish) on 2022 Mar 10 at 00:45 GMT on a 15 minute chart suggesting the outlook is bullish for up to 12 hours.

A bullish event triggered for Fast Stochastics on 2022 Mar 10 at 01:15 GMT when the %K line crossed above the %D line. The close prices are trading closer to the upper end of the recent high-low price range, which is associated with price increases.

2. Daily Analyst’s View

EUR/USD

may rise 33 – 58 pips

Pivot
1.1015

Our preference
Long positions above 1.1015 with targets at 1.1075 & 1.1100 in extension.

Alternative scenario
Below 1.1015 look for further downside with 1.0990 & 1.0960 as targets.

Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

GBP/USD

may rise 25 – 45 pips

Pivot
1.3150

Our preference
Long positions above 1.3150 with targets at 1.3210 & 1.3230 in extension.

Alternative scenario
Below 1.3150 look for further downside with 1.3130 & 1.3110 as targets.

Comment
The RSI advocates for further upside.

USD/CAD

may fall 33 – 63 pips

Pivot
1.2840

Our preference
Short positions below 1.2840 with targets at 1.2770 & 1.2740 in extension.

Alternative scenario
Above 1.2840 look for further upside with 1.2870 & 1.2900 as targets.

Comment
The RSI advocates for further downside.

Gold

may fall to 1946.00 – 1957.00

Pivot
1995.00

Our preference
Short positions below 1995.00 with targets at 1957.00 & 1946.00 in extension.

Alternative scenario
Above 1995.00 look for further upside with 2005.00 & 2020.00 as targets.

Comment
The RSI has broken down its 30 level.

Crude Oil (WTI)

may fall to 103.60 – 107.10

Pivot
115.50

Our preference
Short positions below 115.50 with targets at 107.10 & 103.60 in extension.

Alternative scenario
Above 115.50 look for further upside with 121.60 & 124.50 as targets.

Comment
Even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.

S&P 500 (CME)

may rise to 4318.00 – 4360.00

Pivot
4243.00

Our preference
Long positions above 4243.00 with targets at 4318.00 & 4360.00 in extension.

Alternative scenario
Below 4243.00 look for further downside with 4220.00 & 4194.00 as targets.

Comment
The next resistances are at 4318.00 and then at 4360.00.

Nasdaq 100 (CME)

may rise to 13830.00 – 13930.00

Pivot
13590.00

Our preference
Long positions above 13590.00 with targets at 13830.00 & 13930.00 in extension.

Alternative scenario
Below 13590.00 look for further downside with 13490.00 & 13370.00 as targets.

Comment
The RSI shows upside momentum.

Hang Seng (HKFE)

may rise to 21050.00 – 21270.00

Pivot
20620.00

Our preference
Long positions above 20620.00 with targets at 21050.00 & 21270.00 in extension.

Alternative scenario
Below 20620.00 look for further downside with 20250.00 & 20040.00 as targets.

Comment
The RSI is mixed to bullish.

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.