1. Daily technical analysis of selected currency pairs
AUD/JPY Bearish
Image Features: forms “Downside Breakout (Bearish)” pattern
Target
Opportunity recognized 2021 Dec 01 for the period of up to 2 weeks
+0.186 (18.6 pips) price change since the Technical Event at 80.174
Technical Analysis
We found a pattern called Downside Breakout on 2021 Dec 01 at 20:30 GMT on a 30 minute chart, providing a target price for up to 2 weeks in the range of 78.800 to 79.100.
The price crossed below its moving average on 2021 Dec 01 at 07:00 GMT signaling a new downtrend has been established.
GBP/JPY Bearish
Image Features: forms “Engulfing Line (Bearish)” pattern
Target
Opportunity recognized 2021 Dec 02 for the period of up to 12 hours
-0.050 (5 pips) price change since the Technical Event at 150.328
Technical Analysis
We found a pattern called Engulfing Line (Bearish) on 2021 Dec 02 at 03:15 GMT on a 15 minute chart suggesting the outlook is bearish for up to 12 hours.
The RSI fallen below 70 on 2021 Dec 02 at 03:00 GMT, telling us the price is starting to pull back from being overbought.
2. Daily Analyst’s View
EUR/USD
may rise 28 – 48 pips
Pivot
1.1305
Our preference
Long positions above 1.1305 with targets at 1.1360 & 1.1380 in extension.
Alternative scenario
Below 1.1305 look for further downside with 1.1280 & 1.1260 as targets.
Comment
A support base at 1.1305 has formed and has allowed for a temporary stabilisation.
GBP/USD
may rise 30 – 50 pips
Pivot
1.3260
Our preference
Long positions above 1.3260 with targets at 1.3330 & 1.3350 in extension.
Alternative scenario
Below 1.3260 look for further downside with 1.3240 & 1.3220 as targets.
Comment
The RSI calls for a new upleg.
USD/CAD
may rise 26 – 56 pips
Pivot
1.2760
Our preference
Long positions above 1.2760 with targets at 1.2835 & 1.2865 in extension.
Alternative scenario
Below 1.2760 look for further downside with 1.2725 & 1.2690 as targets.
Comment
The next resistances are at 1.2835 and then at 1.2865.
Gold
may fall to 1762.00 – 1769.00
Pivot
1792.00
Our preference
Short positions below 1792.00 with targets at 1769.00 & 1762.00 in extension.
Alternative scenario
Above 1792.00 look for further upside with 1799.00 & 1809.00 as targets.
Comment
The RSI lacks downward momentum.
Crude Oil (WTI)
may fall to 62.75 – 64.45
Pivot
67.80
Our preference
Short positions below 67.80 with targets at 64.45 & 62.75 in extension.
Alternative scenario
Above 67.80 look for further upside with 69.40 & 71.20 as targets.
Comment
As long as the resistance at 67.80 is not surpassed, the risk of the break below 64.45 remains high.
S&P 500 (CME)
may fall to 4438.00 – 4487.00
Pivot
4577.00
Our preference
Short positions below 4577.00 with targets at 4487.00 & 4438.00 in extension.
Alternative scenario
Above 4577.00 look for further upside with 4607.00 & 4646.00 as targets.
Comment
The RSI has broken down its 30 level.
Nasdaq 100 (CME)
may fall to 15600.00 – 15765.00
Pivot
16140.00
Our preference
Short positions below 16140.00 with targets at 15765.00 & 15600.00 in extension.
Alternative scenario
Above 16140.00 look for further upside with 16245.00 & 16440.00 as targets.
Comment
The RSI shows downside momentum.
Hang Seng (HKFE)
may rise to 23860.00 – 24100.00
Pivot
23440.00
Our preference
Long positions above 23440.00 with targets at 23860.00 & 24100.00 in extension.
Alternative scenario
Below 23440.00 look for further downside with 23260.00 & 23100.00 as targets.
Comment
The RSI is bullish and calls for further upside.
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.
