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
+0.428 (42.8 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 12:00 GMT on a 1 hour 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 Feb 28 at 11:00 GMT, signaling a new uptrend has been established.

EUR/JPY Bullish

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

Target
Opportunity recognized 2022 Mar 02 for the period of up to 48 hours
+0.155 (15.5 pips) price change since the Technical Event at 128.091

Technical Analysis

We found a pattern called Double Bottom on 2022 Mar 02 at 13:00 GMT on a 1 hour chart, providing a target price for up to 48 hours in the range of 128.800 to 128.950.

The price crossed above its moving average on 2022 Mar 02 at 17:00 GMT signaling a new uptrend has been established.

2. Daily Analyst’s View

EUR/USD

may rise 18 – 43 pips

Pivot
1.1085

Our preference
Long positions above 1.1085 with targets at 1.1120 & 1.1145 in extension.

Alternative scenario
Below 1.1085 look for further downside with 1.1060 & 1.1040 as targets.

Comment
Intraday technical indicators are mixed and call for caution.

GBP/USD

may rise 23 – 48 pips

Pivot
1.3355

Our preference
Long positions above 1.3355 with targets at 1.3410 & 1.3435 in extension.

Alternative scenario
Below 1.3355 look for further downside with 1.3335 & 1.3315 as targets.

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

USD/CAD

may fall 23 – 43 pips

Pivot
1.2670

Our preference
Short positions below 1.2670 with targets at 1.2625 & 1.2605 in extension.

Alternative scenario
Above 1.2670 look for further upside with 1.2695 & 1.2720 as targets.

Comment
As long as the resistance at 1.2670 is not surpassed, the risk of the break below 1.2625 remains high.

Gold

may rise to 1945.00 – 1961.00

Pivot
1914.00

Our preference
Long positions above 1914.00 with targets at 1945.00 & 1961.00 in extension.

Alternative scenario
Below 1914.00 look for further downside with 1902.00 & 1890.00 as targets.

Comment
The RSI calls for a bounce.

Crude Oil (WTI)

may rise to 117.00 – 120.50

Pivot
109.20

Our preference
Long positions above 109.20 with targets at 117.00 & 120.50 in extension.

Alternative scenario
Below 109.20 look for further downside with 105.20 & 102.50 as targets.

Comment
The RSI is bullish and calls for further upside.

S&P 500 (CME)

may rise to 4411.00 – 4441.00

Pivot
4348.00

Our preference
Long positions above 4348.00 with targets at 4411.00 & 4441.00 in extension.

Alternative scenario
Below 4348.00 look for further downside with 4315.00 & 4275.00 as targets.

Comment
The RSI is mixed with a bullish bias.

Nasdaq 100 (CME)

may rise to 14325.00 – 14440.00

Pivot
14090.00

Our preference
Long positions above 14090.00 with targets at 14325.00 & 14440.00 in extension.

Alternative scenario
Below 14090.00 look for further downside with 13900.00 & 13750.00 as targets.

Comment
The RSI is mixed to bullish.

Hang Seng (HKFE)

may fall to 22050.00 – 22220.00

Pivot
22620.00

Our preference
Short positions below 22620.00 with targets at 22220.00 & 22050.00 in extension.

Alternative scenario
Above 22620.00 look for further upside with 22965.00 & 23260.00 as targets.

Comment
As long as the resistance at 22620.00 is not surpassed, the risk of the break below 22220.00 remains high.

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.