1. Daily technical analysis of selected currency pairs
SGD/JPY Bearish
Image Features: forms “Triple Top” pattern
Target:
Opportunity recognized 2021 May 12 for the period of up to 12 hours
-0.029 (29 pips) price change since the Technical Event at 81.954
Technical Analysis:
We found a pattern called Triple Top on 2021 May 12 at 03:10 GMT on a 5 minute chart, providing a target price for up to 12 hours in the range of 81.870 to 81.890.
The price crossed below its moving average on 2021 May 12 at 03:10 GMT signaling a new downtrend has been established.
AUD/NZD Bearish
Image Features: forms “Inside Bar (Bearish)” pattern
Target:
Opportunity recognized 2021 May 12 for the period of up to 12 hours
-0.00005 (05 pips) price change since the Technical Event at 1.07781
Technical Analysis:
We found a pattern called Inside Bar (Bearish) on 2021 May 12 at 03:05 GMT on a 5 minute chart suggesting the outlook is bearish for up to 12 hours.
The CCI triggered a bearish signal on 2021 May 12 at 03:10 GMT by crossing below the -100% level.
2. Daily Analyst’s View
EUR/USD
may fall 13 – 33 pips
Pivot
1.2155
Our preference
Short positions below 1.2155 with targets at 1.2120 & 1.2100 in extension.
Alternative scenario
Above 1.2155 look for further upside with 1.2175 & 1.2200 as targets.
Comment
The RSI is bearish and calls for further downside.
GBP/USD
may fall 16 – 41 pips
Pivot
1.4150
Our preference
Short positions below 1.4150 with targets at 1.4100 & 1.4075 in extension.
Alternative scenario
Above 1.4150 look for further upside with 1.4170 & 1.4200 as targets.
Comment
A break below 1.4100 would trigger a drop towards 1.4075.
USD/CAD
may rise 9 – 29 pips
Pivot
1.2090
Our preference
Long positions above 1.2090 with targets at 1.2125 & 1.2145 in extension.
Alternative scenario
Below 1.2090 look for further downside with 1.2075 & 1.2055 as targets.
Comment
The RSI calls for a rebound.
Gold
may fall to 1809.00 – 1817.00
Pivot
1838.00
Our preference
Short positions below 1838.00 with targets at 1817.00 & 1809.00 in extension.
Alternative scenario
Above 1838.00 look for further upside with 1845.00 & 1855.00 as targets.
Comment
The RSI calls for a drop.
Crude Oil (WTI)
may rise to 65.65 – 66.00
Pivot
64.60
Our preference
Long positions above 64.60 with targets at 65.65 & 66.00 in extension.
Alternative scenario
Below 64.60 look for further downside with 64.10 & 63.70 as targets.
Comment
The RSI is mixed to bullish.
S&P 500 (CME)
may fall to 4104.00 – 4120.00
Pivot
4167.00
Our preference
Short positions below 4167.00 with targets at 4120.00 & 4104.00 in extension.
Alternative scenario
Above 4167.00 look for further upside with 4185.00 & 4202.00 as targets.
Comment
The RSI is mixed with a bearish bias.
Dax (Eurex)
may fall to 14830.00 – 15000.00
Pivot
15240.00
Our preference
Short positions below 15240.00 with targets at 15000.00 & 14830.00 in extension.
Alternative scenario
Above 15240.00 look for further upside with 15345.00 & 15472.00 as targets.
Comment
As long as the resistance at 15240.00 is not surpassed, the risk of the break below 15000.00 remains high.
FTSE China A50
may fall to 15502.90 – 15800.00
Pivot
17465.03
Our preference
The downside prevails as long as 17465.03 is resistance.
Alternative scenario
Above 17465.03, look for 17975.25 and 18278.99.
Comment
The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. FTSE China A50 index is trading under both its 20 and 50 period moving average (respectively at 17097.72 and 17382.18).
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.
