1. Daily technical analysis of selected currency pairs
AUD/JPY Bullish
Image Features: forms “Flag (Bullish)” pattern
Target
Opportunity recognized 2021 Dec 30 for the period of up to 48 hours
+0.102 (10.2 pips) price change since the Technical Event at 83.381
Technical Analysis
We found a pattern called Flag (Bullish) on 2021 Dec 30 at 00:00 GMT on a 1 hour chart, providing a target price for up to 48 hours in the range of 83.870 to 83.970.
The faster moving average crossed above the slower moving average on 2021 Dec 29 at 20:00 GMT, signaling a new uptrend has been established.
CAD/JPY Bullish
Image Features: forms “Hammer (Bullish)” pattern
Target
Opportunity recognized 2021 Dec 29 for the period of up to 48 hours
+0.501 (50.1 pips) price change since the Technical Event at 89.563
Technical Analysis
We found a pattern called Hammer on 2021 Dec 29 at 05:00 GMT on a 4 hour chart suggesting the outlook is bullish for up to 48 hours.
The CCI triggered a bullish signal on 2021 Dec 30 at 01:00 GMT by crossing above the +100% level.
2. Daily Analyst’s View
EUR/USD
may rise 19 – 39 pips
Pivot
1.1320
Our preference
Long positions above 1.1320 with targets at 1.1370 & 1.1390 in extension.
Alternative scenario
Below 1.1320 look for further downside with 1.1300 & 1.1275 as targets.
Comment
The RSI is bullish and calls for further upside.
GBP/USD
may rise 18 – 38 pips
Pivot
1.3460
Our preference
Long positions above 1.3460 with targets at 1.3510 & 1.3530 in extension.
Alternative scenario
Below 1.3460 look for further downside with 1.3435 & 1.3410 as targets.
Comment
The RSI advocates for further advance.
USD/CAD
may fall 25 – 45 pips
Pivot
1.2810
Our preference
Short positions below 1.2810 with targets at 1.2760 & 1.2740 in extension.
Alternative scenario
Above 1.2810 look for further upside with 1.2830 & 1.2845 as targets.
Comment
The RSI is bearish and calls for further downside.
Gold
may fall to 1789.00 – 1795.00
Pivot
1808.00
Our preference
Short positions below 1808.00 with targets at 1795.00 & 1789.00 in extension.
Alternative scenario
Above 1808.00 look for further upside with 1814.00 & 1820.00 as targets.
Comment
As long as 1808.00 is resistance, look for choppy price action with a bearish bias.
Crude Oil (WTI)
may rise to 77.40 – 78.00
Pivot
75.45
Our preference
Long positions above 75.45 with targets at 77.40 & 78.00 in extension.
Alternative scenario
Below 75.45 look for further downside with 75.00 & 74.50 as targets.
Comment
The RSI calls for a new upleg.
S&P 500 (CME)
may rise to 4790.00 – 4800.00
Pivot
4770.00
Our preference
Long positions above 4770.00 with targets at 4790.00 & 4800.00 in extension.
Alternative scenario
Below 4770.00 look for further downside with 4755.00 & 4740.00 as targets.
Comment
A support base at 4770.00 has formed and has allowed for a temporary stabilisation.
Nasdaq 100 (CME)
may rise to 16510.00 – 16560.00
Pivot
16420.00
Our preference
Long positions above 16420.00 with targets at 16510.00 & 16560.00 in extension.
Alternative scenario
Below 16420.00 look for further downside with 16380.00 & 16330.00 as targets.
Comment
A support base at 16420.00 has formed and has allowed for a temporary stabilisation.
Hang Seng (HKFE)
may fall to 22890.00 – 22950.00
Pivot
23130.00
Our preference
Short positions below 23130.00 with targets at 22950.00 & 22890.00 in extension.
Alternative scenario
Above 23130.00 look for further upside with 23200.00 & 23290.00 as targets.
Comment
As long as the resistance at 23130.00 is not surpassed, the risk of the break below 22950.00 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.
