1. Daily technical analysis of selected currency pairs
CAD/JPY Bullish
Image Features: forms “Inside Bar (Bullish)” pattern
Target
Opportunity recognized 2021 Jul 15 for the period of up to 12 hours
-0.054 (5.4 pips) price change since the Technical Event at 87.670
Technical Analysis
We found a pattern called Inside Bar (Bullish) on 2021 Jul 15 at 01:30 GMT on a 15 minute chart suggesting the outlook is bullish for up to 12 hours.
The RSI rose above 30 on 2021 Jul 15 at 03:15 GMT, telling us the price is starting to recover from being oversold.
GBP/EUR Bullish
Image Features: forms “Megaphone Bottom (Bullish)” pattern
Target
Opportunity recognized 2021 Jul 06 for the period of up to 2 weeks
+0.00174 (17.4 pips) price change since the Technical Event at 1.16749
Technical Analysis
We found a pattern called Megaphone Bottom on 2021 Jul 06 at 01:00 GMT on a 4 hour chart, providing a target price for up to 2 weeks in the range of 1.17000 to 1.18000.
On 2021 Jul 12 at 09:00 GMT, the 4-bar Moving Average crossed above the 9-bar MA which crossed above the 18-bar MA, signaling a new uptrend has been established.
2. Daily Analyst’s View
EUR/USD
may rise 16 – 31 pips
Pivot
1.1810
Our preference
Long positions above 1.1810 with targets at 1.1850 & 1.1865 in extension.
Alternative scenario
Below 1.1810 look for further downside with 1.1795 & 1.1780 as targets.
Comment
The RSI is bullish and calls for further advance.
GBP/USD
may fall 28 – 48 pips
Pivot
1.3865
Our preference
Short positions below 1.3865 with targets at 1.3800 & 1.3780 in extension.
Alternative scenario
Above 1.3865 look for further upside with 1.3890 & 1.3910 as targets.
Comment
The RSI advocates for further decline.
USD/CAD
may rise 23 – 43 pips
Pivot
1.2485
Our preference
Long positions above 1.2485 with targets at 1.2540 & 1.2560 in extension.
Alternative scenario
Below 1.2485 look for further downside with 1.2460 & 1.2440 as targets.
Comment
The RSI advocates for further upside.
Gold
may rise to 1835.00 – 1840.00
Pivot
1817.00
Our preference
Long positions above 1817.00 with targets at 1835.00 & 1840.00 in extension.
Alternative scenario
Below 1817.00 look for further downside with 1810.00 & 1804.00 as targets.
Comment
The RSI is bullish and calls for further upside.
Crude Oil (WTI)
may fall to 71.20 – 71.70
Pivot
73.30
Our preference
Short positions below 73.30 with targets at 71.70 & 71.20 in extension.
Alternative scenario
Above 73.30 look for further upside with 73.70 & 74.20 as targets.
Comment
The RSI advocates for further downside.
S&P 500 (CME)
may fall to 4350.00 – 4359.00
Pivot
4375.00
Our preference
Short positions below 4375.00 with targets at 4359.00 & 4350.00 in extension.
Alternative scenario
Above 4375.00 look for further upside with 4384.00 & 4392.00 as targets.
Comment
A break below 4359.00 would trigger a drop towards 4350.00.
Nasdaq 100 (CME)
may fall to 14795.00 – 14840.00
Pivot
14945.00
Our preference
Short positions below 14945.00 with targets at 14840.00 & 14795.00 in extension.
Alternative scenario
Above 14945.00 look for further upside with 14995.00 & 15050.00 as targets.
Comment
The RSI calls for a new downleg.
Hang Seng (HKFE)
may fall to 27595.00 – 27690.00
Pivot
27910.00
Our preference
Short positions below 27910.00 with targets at 27690.00 & 27595.00 in extension.
Alternative scenario
Above 27910.00 look for further upside with 28015.00 & 28150.00 as targets.
Comment
As long as the resistance at 27910.00 is not surpassed, the risk of the break below 27690.00 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.
