1. Daily technical analysis of selected currency pairs



AUD/JPY Bearish

Image Features: forms “Outside Bar (Bearish)” pattern

Target
Opportunity recognized 2021 Dec 16 for the period of up to 48 hours
-0.845 (84.5 pips) price change since the Technical Event at 81.727

Technical Analysis

We found a pattern called Outside Bar (Bearish) on 2021 Dec 16 at 17:00 GMT on a 4 hour chart suggesting the outlook is bearish for up to 48 hours.

The price crossed below its moving average on 2021 Dec 17 at 13:00 GMT signaling a new downtrend has been established.

EUR/JPY Bearish

Image Features: forms “Megaphone Top (Bearish)” pattern

Target
Opportunity recognized 2021 Dec 17 for the period of up to 2 weeks
-0.190 (19 pips) price change since the Technical Event at 127.940

Technical Analysis

We found a pattern called Megaphone Top on 2021 Dec 17 at 21:00 GMT on a 4 hour chart, providing a target price for up to 2 weeks in the range of 126.100 to 126.400.

On 2021 Dec 20 at 01:00 GMT, the 4-bar Moving Average crossed below the 9-bar MA which crossed below the 18-bar MA, signaling a new downtrend has been established.

2. Daily Analyst’s View



EUR/USD

may fall 22 – 52 pips

Pivot
1.1280

Our preference
Short positions below 1.1280 with targets at 1.1220 & 1.1190 in extension.

Alternative scenario
Above 1.1280 look for further upside with 1.1300 & 1.1320 as targets.

Comment
The RSI advocates for further decline.

GBP/USD

may fall 28 – 58 pips

Pivot
1.3270

Our preference
Short positions below 1.3270 with targets at 1.3200 & 1.3170 in extension.

Alternative scenario
Above 1.3270 look for further upside with 1.3300 & 1.3320 as targets.

Comment
The RSI has broken down its 30 level.

USD/CAD

may rise 39 – 64 pips

Pivot
1.2850

Our preference
Long positions above 1.2850 with targets at 1.2935 & 1.2960 in extension.

Alternative scenario
Below 1.2850 look for further downside with 1.2830 & 1.2810 as targets.

Comment
The RSI advocates for further advance.

Gold

may fall to 1781.00 – 1790.00

Pivot
1809.00

Our preference
Short positions below 1809.00 with targets at 1790.00 & 1781.00 in extension.

Alternative scenario
Above 1809.00 look for further upside with 1819.00 & 1828.00 as targets.

Comment
As long as 1809.00 is resistance, look for choppy price action with a bearish bias.

Crude Oil (WTI)

may fall to 67.30 – 68.00

Pivot
70.25

Our preference
Short positions below 70.25 with targets at 68.00 & 67.30 in extension.

Alternative scenario
Above 70.25 look for further upside with 71.00 & 71.70 as targets.

Comment
The RSI is bearish and calls for further downside.

S&P 500 (CME)

may fall to 4500.00 – 4545.00

Pivot
4646.00

Our preference
Short positions below 4646.00 with targets at 4545.00 & 4500.00 in extension.

Alternative scenario
Above 4646.00 look for further upside with 4666.00 & 4692.00 as targets.

Comment
The RSI is bearish and calls for further downside.

Nasdaq 100 (CME)

may fall to 15400.00 – 15550.00

Pivot
15950.00

Our preference
Short positions below 15950.00 with targets at 15550.00 & 15400.00 in extension.

Alternative scenario
Above 15950.00 look for further upside with 16170.00 & 16340.00 as targets.

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

Hang Seng (HKFE)

may fall to 22870.00 – 22990.00

Pivot
23375.00

Our preference
Short positions below 23375.00 with targets at 22990.00 & 22870.00 in extension.

Alternative scenario
Above 23375.00 look for further upside with 23555.00 & 23735.00 as targets.

Comment
The upward potential is likely to be limited by the resistance at 23375.00.

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.