1. Daily technical analysis of selected currency pairs
GBP/HKD Bearish
Image Features: forms “Inside Bar (Bearish)” pattern
Target
Opportunity recognized 2021 Jun 01 for the period of up to 12 hours
-0.00156 (15.6 pips) price change since the Technical Event at 11.04656
Technical Analysis
We found a pattern called Inside Bar (Bearish) on 2021 Jun 01 at 04:00 GMT on a 1 hour chart suggesting the outlook is bearish for up to 12 hours.
The RSI fallen below 70 on 2021 Jun 01 at 03:00 GMT, telling us the price is starting to pull back from being overbought.
EUR/AUD Bullish
Image Features: forms “Hammer (Bullish)” pattern
Target
Opportunity recognized 2021 Jun 01 for the period of up to 12 hours
+0.00001 (0.1 pips) price change since the Technical Event at 1.57548
Technical Analysis
We found a pattern called Hammer on 2021 Jun 01 at 04:15 GMT on a 15 minute chart suggesting the outlook is bullish for up to 12 hours.
The RSI rose above 30 on 2021 Jun 01 at 02:45 GMT, telling us the price is starting to recover from being oversold.
2. Daily Analyst’s View
EUR/USD
may rise 18 – 38 pips
Pivot
1.2210
Our preference
Long positions above 1.2210 with targets at 1.2245 & 1.2265 in extension.
Alternative scenario
Below 1.2210 look for further downside with 1.2195 & 1.2180 as targets.
Comment
Technically the RSI is above its neutrality area at 50.
GBP/USD
may rise 29 – 54 pips
Pivot
1.4200
Our preference
Long positions above 1.4200 with targets at 1.4270 & 1.4295 in extension.
Alternative scenario
Below 1.4200 look for further downside with 1.4165 & 1.4135 as targets.
Comment
The RSI is bullish and calls for further advance.
USD/CAD
may fall 19 – 34 pips
Pivot
1.2070
Our preference
Short positions below 1.2070 with targets at 1.2030 & 1.2015 in extension.
Alternative scenario
Above 1.2070 look for further upside with 1.2090 & 1.2105 as targets.
Comment
The RSI shows downside momentum.
Gold
may rise to 1921.00 – 1928.00
Pivot
1901.00
Our preference
Long positions above 1901.00 with targets at 1921.00 & 1928.00 in extension.
Alternative scenario
Below 1901.00 look for further downside with 1892.00 & 1887.00 as targets.
Comment
The RSI is bullish and calls for further upside.
Crude Oil (WTI)
may rise to 68.35 – 68.85
Pivot
66.95
Our preference
Long positions above 66.95 with targets at 68.35 & 68.85 in extension.
Alternative scenario
Below 66.95 look for further downside with 66.40 & 66.15 as targets.
Comment
The RSI is bullish and calls for further upside.
S&P 500 (CME)
may rise to 4210.00 – 4217.00
Pivot
4189.00
Our preference
Long positions above 4189.00 with targets at 4210.00 & 4217.00 in extension.
Alternative scenario
Below 4189.00 look for further downside with 4178.00 & 4168.00 as targets.
Comment
The RSI calls for a bounce.
Nasdaq 100 (CME)
may rise to 13760.00 – 13815.00
Pivot
13620.00
Our preference
Long positions above 13620.00 with targets at 13760.00 & 13815.00 in extension.
Alternative scenario
Below 13620.00 look for further downside with 13570.00 & 13510.00 as targets.
Comment
The RSI is mixed to bullish.
Hang Seng (HKFE)
may fall to 28575.00 – 28790.00
Pivot
29080.00
Our preference
Short positions below 29080.00 with targets at 28790.00 & 28575.00 in extension.
Alternative scenario
Above 29080.00 look for further upside with 29250.00 & 29385.00 as targets.
Comment
As long as 29080.00 is resistance, look for choppy price action with a bearish bias.
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.
