1. Daily technical analysis of selected currency pairs



CAD/JPY Bearish

Image Features: forms “Engulfing Line (Bearish)” pattern

Target
Opportunity recognized 2021 Aug 12 for the period of up to 12 hours
+0.010 (1 pips) price change since the Technical Event at 88.250

Technical Analysis

We found a pattern called Engulfing Line (Bearish) on 2021 Aug 12 at 03:30 GMT on a 15 minute chart suggesting the outlook is bearish for up to 12 hours.

The price crossed below its moving average on 2021 Aug 12 at 03:30 GMT signaling a new downtrend has been established.

GBP/CAD Bullish

Image Features: forms “Diamond Bottom (Bullish)” pattern

Target
Opportunity recognized 2021 Aug 12 for the period of up to 48 hours
-0.00034 (3.4 pips) price change since the Technical Event at 1.73434

Technical Analysis

We found a pattern called Diamond Bottom on 2021 Aug 12 at 00:30 GMT on a 30 minute chart, providing a target price for up to 48 hours in the range of 1.74000 to 1.75000.

The price crossed above its moving average on 2021 Aug 11 at 21:30 GMT signaling a new uptrend has been established.

2. Daily Analyst’s View

EUR/USD

may rise 17 – 32 pips

Pivot
1.1725

Our preference
Long positions above 1.1725 with targets at 1.1755 & 1.1770 in extension.

Alternative scenario
Below 1.1725 look for further downside with 1.1705 & 1.1690 as targets.

Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

GBP/USD

may rise 19 – 39 pips

Pivot
1.3850

Our preference
Long positions above 1.3850 with targets at 1.3890 & 1.3910 in extension.

Alternative scenario
Below 1.3850 look for further downside with 1.3830 & 1.3805 as targets.

Comment
Technically the RSI is above its neutrality area at 50.

USD/CAD

may fall 14 – 34 pips

Pivot
1.2525

Our preference
Short positions below 1.2525 with targets at 1.2490 & 1.2470 in extension.

Alternative scenario
Above 1.2525 look for further upside with 1.2545 & 1.2565 as targets.

Comment
Technically the RSI is below its neutrality area at 50.

Gold

may rise to 1765.00 – 1777.00

Pivot
1735.00

Our preference
Long positions above 1735.00 with targets at 1765.00 & 1777.00 in extension.

Alternative scenario
Below 1735.00 look for further downside with 1726.00 & 1717.00 as targets.

Comment
The RSI is bullish and calls for further upside.

Crude Oil (WTI)

may rise to 70.15 – 70.75

Pivot
68.15

Our preference
Long positions above 68.15 with targets at 70.15 & 70.75 in extension.

Alternative scenario
Below 68.15 look for further downside with 67.40 & 66.65 as targets.

Comment
The RSI is bullish and calls for further advance.

S&P 500 (CME)

may rise to 4448.00 – 4454.00

Pivot
4430.00

Our preference
Long positions above 4430.00 with targets at 4448.00 & 4454.00 in extension.

Alternative scenario
Below 4430.00 look for further downside with 4425.00 & 4420.00 as targets.

Comment
The RSI is mixed.

Nasdaq 100 (CME)

may fall to 14940.00 – 14960.00

Pivot
15030.00

Our preference
Short positions below 15030.00 with targets at 14960.00 & 14940.00 in extension.

Alternative scenario
Above 15030.00 look for further upside with 15050.00 & 15080.00 as targets.

Comment
The RSI is mixed with a bearish bias.

Hang Seng (HKFE)

may rise to 26730.00 – 27050.00

Pivot
26300.00

Our preference
Long positions above 26300.00 with targets at 26730.00 & 27050.00 in extension.

Alternative scenario
Below 26300.00 look for further downside with 26025.00 & 25815.00 as targets.

Comment
The RSI has just landed on its neutrality area at 50% and is turning up.

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.