1. Daily technical analysis of selected currency pairs



AUD/JPY Bearish

Image Features: forms “Flag (Bearish)” pattern

Target
Opportunity recognized 2022 Mar 16 for the period of up to 12 hours
+0.001 (0.1 pips) price change since the Technical Event at 85.075

Technical Analysis

We found a pattern called Flag (Bearish) on 2022 Mar 16 at 00:00 GMT on a 1 hour chart, providing a target price for up to 12 hours in the range of 84.600 to 84.680.

The Momentum oscillator crossed below 0 on 2022 Mar 16 at 00:00 GMT, thereby signaling a new accelerating downtrend.

CAD/JPY Bullish

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

Target
Opportunity recognized 2022 Mar 10 for the period of up to 2 weeks
+1.923 (192.3 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 22 – 42 pips

Pivot
1.1000

Our preference
Short positions below 1.1000 with targets at 1.0945 & 1.0925 in extension.

Alternative scenario
Above 1.1000 look for further upside with 1.1020 & 1.1040 as targets.

Comment
As long as 1.1000 is resistance, look for choppy price action with a bearish bias.

GBP/USD

may fall 25 – 45 pips

Pivot
1.3080

Our preference
Short positions below 1.3080 with targets at 1.3020 & 1.3000 in extension.

Alternative scenario
Above 1.3080 look for further upside with 1.3100 & 1.3120 as targets.

Comment
As long as the resistance at 1.3080 is not surpassed, the risk of the break below 1.3020 remains high.

USD/CAD

may fall 24 – 44 pips

Pivot
1.2795

Our preference
Short positions below 1.2795 with targets at 1.2740 & 1.2720 in extension.

Alternative scenario
Above 1.2795 look for further upside with 1.2815 & 1.2835 as targets.

Comment
The RSI is bearish and calls for further decline.

Gold

may fall to 1890.00 – 1906.00

Pivot
1931.00

Our preference
Short positions below 1931.00 with targets at 1906.00 & 1890.00 in extension.

Alternative scenario
Above 1931.00 look for further upside with 1945.00 & 1961.00 as targets.

Comment
As long as the resistance at 1931.00 is not surpassed, the risk of the break below 1906.00 remains high.

Crude Oil (WTI)

may fall to 91.80 – 93.60

Pivot
98.30

Our preference
Short positions below 98.30 with targets at 93.60 & 91.80 in extension.

Alternative scenario
Above 98.30 look for further upside with 100.60 & 103.00 as targets.

Comment
As long as the resistance at 98.30 is not surpassed, the risk of the break below 93.60 remains high.

S&P 500 (CME)

may rise to 4310.00 – 4344.00

Pivot
4208.00

Our preference
Long positions above 4208.00 with targets at 4310.00 & 4344.00 in extension.

Alternative scenario
Below 4208.00 look for further downside with 4176.00 & 4136.00 as targets.

Comment
The RSI advocates for further upside.

Nasdaq 100 (CME)

may rise to 13620.00 – 13860.00

Pivot
13255.00

Our preference
Long positions above 13255.00 with targets at 13620.00 & 13860.00 in extension.

Alternative scenario
Below 13255.00 look for further downside with 13120.00 & 12940.00 as targets.

Comment
The next resistances are at 13620.00 and then at 13860.00.

Hang Seng (HKFE)

may rise to 19420.00 – 19730.00

Pivot
18480.00

Our preference
Long positions above 18480.00 with targets at 19420.00 & 19730.00 in extension.

Alternative scenario
Below 18480.00 look for further downside with 18120.00 & 17800.00 as targets.

Comment
The RSI calls for a bounce.

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.