1. Daily technical analysis of selected currency pairs
CAD/JPY Bullish
Image Features: forms “Double Bottom (Bullish)” pattern
Target
Opportunity recognized 2021 Sep 27 for the period of up to 2 weeks
+2.810 (281 pips) price change since the Technical Event at 87.886
Technical Analysis
We found a pattern called Double Bottom on 2021 Sep 27 at 17:00 GMT on a 4 hour chart, providing a target price for up to 2 weeks in the range of 90.800 to 91.400.
The faster moving average crossed above the slower moving average on 2021 Sep 30 at 09:00 GMT, signaling a new uptrend has been established.
AUD/JPY Bullish
Image Features: forms “Inverted Hammer (Bullish)” pattern
Target
Opportunity recognized 2021 Oct 12 for the period of up to 12 hours
-0.122 (12.2 pips) price change since the Technical Event at 83.184
Technical Analysis
We found a pattern called Inverted Hammer on 2021 Oct 12 at 01:30 GMT on a 15 minute chart suggesting the outlook is bullish for up to 12 hours.
A bullish event triggered for Slow Stochastics on 2021 Oct 12 at 02:15 GMT when the %K line crossed above the %D line. The close prices are trading closer to the upper end of the recent high-low price range, which is associated with price increases.
2. Daily Analyst’s View
EUR/USD
may fall 12 – 27 pips
Pivot
1.1570
Our preference
Short positions below 1.1570 with targets at 1.1540 & 1.1525 in extension.
Alternative scenario
Above 1.1570 look for further upside with 1.1585 & 1.1600 as targets.
Comment
The RSI advocates for further decline.
GBP/USD
may fall 29 – 49 pips
Pivot
1.3620
Our preference
Short positions below 1.3620 with targets at 1.3560 & 1.3540 in extension.
Alternative scenario
Above 1.3620 look for further upside with 1.3640 & 1.3655 as targets.
Comment
The RSI is bearish and calls for further decline.
USD/CAD
may rise 30 – 50 pips
Pivot
1.2445
Our preference
Long positions above 1.2445 with targets at 1.2510 & 1.2530 in extension.
Alternative scenario
Below 1.2445 look for further downside with 1.2430 & 1.2415 as targets.
Comment
The RSI calls for a rebound.
Gold
may fall to 1742.00 – 1749.00
Pivot
1761.00
Our preference
Short positions below 1761.00 with targets at 1749.00 & 1742.00 in extension.
Alternative scenario
Above 1761.00 look for further upside with 1768.00 & 1774.00 as targets.
Comment
A break below 1749.00 would trigger a drop towards 1742.00.
Crude Oil (WTI)
may fall to 78.65 – 79.65
Pivot
81.30
Our preference
Short positions below 81.30 with targets at 79.65 & 78.65 in extension.
Alternative scenario
Above 81.30 look for further upside with 82.15 & 83.00 as targets.
Comment
The RSI calls for a drop.
S&P 500 (CME)
may fall to 4295.00 – 4315.00
Pivot
4376.00
Our preference
Short positions below 4376.00 with targets at 4315.00 & 4295.00 in extension.
Alternative scenario
Above 4376.00 look for further upside with 4400.00 & 4420.00 as targets.
Comment
The RSI is below its neutrality area at 50%.
Nasdaq 100 (CME)
may fall to 14500.00 – 14565.00
Pivot
14815.00
Our preference
Short positions below 14815.00 with targets at 14565.00 & 14500.00 in extension.
Alternative scenario
Above 14815.00 look for further upside with 14895.00 & 15000.00 as targets.
Comment
The RSI calls for a drop.
Hang Seng (HKFE)
may rise to 25210.00 – 25380.00
Pivot
24950.00
Our preference
Long positions above 24950.00 with targets at 25210.00 & 25380.00 in extension.
Alternative scenario
Below 24950.00 look for further downside with 24770.00 & 24560.00 as targets.
Comment
Intraday technical indicators are mixed and call for caution.
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.
