1. Daily technical analysis of selected currency pairs



AUD/JPY Bullish

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

Target
Opportunity recognized 2022 Mar 02 for the period of up to 2 weeks
+1.912 (191.2 pips) price change since the Technical Event at 83.702

Technical Analysis

We found a pattern called Continuation Diamond (Bullish) on 2022 Mar 02 at 11:30 GMT on a 30 minute chart, providing a target price for up to 2 weeks in the range of 85.400 to 85.800.

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.

CAD/JPY Bullish

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

Target
Opportunity recognized 2022 Mar 10 for the period of up to 2 weeks
+1.553 (155.3 pips) price change since the Technical Event at 90.704

Technical Analysis

We found a pattern called Megaphone Bottom on 2022 Mar 10 at 14:00 GMT on a 1 hour chart, providing a target price for up to 2 weeks in the range of 91.800 to 92.000.

The faster moving average crossed above the slower moving average on 2022 Mar 11 at 07:00 GMT, signaling a new uptrend has been established.

2. Daily Analyst’s View

EUR/USD

may fall 25 – 55 pips

Pivot
1.0960

Our preference
Short positions below 1.0960 with targets at 1.0890 & 1.0860 in extension.

Alternative scenario
Above 1.0960 look for further upside with 1.1000 & 1.1040 as targets.

Comment
A break below 1.0890 would trigger a drop towards 1.0860.

GBP/USD

may fall 25 – 50 pips

Pivot
1.3070

Our preference
Short positions below 1.3070 with targets at 1.3025 & 1.3000 in extension.

Alternative scenario
Above 1.3070 look for further upside with 1.3095 & 1.3120 as targets.

Comment
As long as the resistance at 1.3070 is not surpassed, the risk of the break below 1.3025 remains high.

USD/CAD

may fall 30 – 50 pips

Pivot
1.2755

Our preference
Short positions below 1.2755 with targets at 1.2710 & 1.2690 in extension.

Alternative scenario
Above 1.2755 look for further upside with 1.2775 & 1.2795 as targets.

Comment
As long as 1.2755 is resistance, look for choppy price action with a bearish bias.

Gold

may fall to 1939.00 – 1958.00

Pivot
1994.00

Our preference
Short positions below 1994.00 with targets at 1958.00 & 1939.00 in extension.

Alternative scenario
Above 1994.00 look for further upside with 2009.00 & 2021.00 as targets.

Comment
The RSI is bearish and calls for further decline.

Crude Oil (WTI)

may fall to 100.50 – 103.60

Pivot
109.70

Our preference
Short positions below 109.70 with targets at 103.60 & 100.50 in extension.

Alternative scenario
Above 109.70 look for further upside with 112.00 & 114.55 as targets.

Comment
The RSI calls for a drop.

S&P 500 (CME)

may rise to 4289.00 – 4318.00

Pivot
4245.00

Our preference
Short positions below 4245.00 with targets at 4189.00 & 4158.00 in extension.

Alternative scenario
Above 4245.00 look for further upside with 4285.00 & 4310.00 as targets.

Comment
As long as the resistance at 4245.00 is not surpassed, the risk of the break below 4189.00 remains high.

Nasdaq 100 (CME)

may fall to 13110.00 – 13225.00

Pivot
13490.00

Our preference
Short positions below 13490.00 with targets at 13225.00 & 13110.00 in extension.

Alternative scenario
Above 13490.00 look for further upside with 13620.00 & 13810.00 as targets.

Comment
As long as the resistance at 13490.00 is not surpassed, the risk of the break below 13225.00 remains high.

Hang Seng (HKFE)

may fall to 19760.00 – 19880.00

Pivot
20320.00

Our preference
Short positions below 20320.00 with targets at 19880.00 & 19760.00 in extension.

Alternative scenario
Above 20320.00 look for further upside with 20490.00 & 20740.00 as targets.

Comment
The RSI advocates 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.