1. Daily technical analysis of selected currency pairs



AUD/JPY Bearish

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

Target
Opportunity recognized 2022 Jan 07 for the period of up to 2 weeks
-0.363 (36.3 pips) price change since the Technical Event at 82.781

Technical Analysis

We found a pattern called Megaphone Top on 2022 Jan 07 at 14:00 GMT on a 1 hour chart, providing a target price for up to 2 weeks in the range of 81.100 to 81.400.

The faster moving average crossed below the slower moving average on 2022 Jan 14 at 13:00 GMT, signaling a new downtrend has been established.

CAD/JPY Bullish

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

Target
Opportunity recognized 2021 Dec 31 for the period of up to 2 weeks
+1.369 (136.9 pips) price change since the Technical Event at 90.365

Technical Analysis

We found a pattern called Megaphone Bottom on 2021 Dec 31 at 09:00 GMT on a 4 hour chart, providing a target price for up to 2 weeks in the range of 93.000 to 93.600.

On 2022 Jan 18 at 05:00 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 fall 26 – 46 pips

Pivot
1.1360

Our preference
Short positions below 1.1360 with targets at 1.1300 & 1.1280 in extension.

Alternative scenario
Above 1.1360 look for further upside with 1.1380 & 1.1400 as targets.

Comment
The RSI calls for a new downleg.

GBP/USD

may fall 26 – 46 pips

Pivot
1.3630

Our preference
Short positions below 1.3630 with targets at 1.3570 & 1.3550 in extension.

Alternative scenario
Above 1.3630 look for further upside with 1.3650 & 1.3670 as targets.

Comment
The upward potential is likely to be limited by the resistance at 1.3630.

USD/CAD

may fall 26 – 46 pips

Pivot
1.2530

Our preference
Short positions below 1.2530 with targets at 1.2480 & 1.2460 in extension.

Alternative scenario
Above 1.2530 look for further upside with 1.2550 & 1.2570 as targets.

Comment
The RSI calls for a drop.

Gold

may fall to 1800.00 – 1805.00

Pivot
1820.00

Our preference
Short positions below 1820.00 with targets at 1805.00 & 1800.00 in extension.

Alternative scenario
Above 1820.00 look for further upside with 1828.00 & 1833.00 as targets.

Comment
As long as 1820.00 is resistance, look for choppy price action with a bearish bias.

Crude Oil (WTI)

may rise to 87.20 – 88.00

Pivot
84.90

Our preference
Long positions above 84.90 with targets at 87.20 & 88.00 in extension.

Alternative scenario
Below 84.90 look for further downside with 84.00 & 83.00 as targets.

Comment
The RSI shows upside momentum.

S&P 500 (CME)

may fall to 4490.00 – 4525.00

Pivot
4614.00

Our preference
Short positions below 4614.00 with targets at 4525.00 & 4490.00 in extension.

Alternative scenario
Above 4614.00 look for further upside with 4665.00 & 4695.00 as targets.

Comment
As long as 4614.00 is resistance, likely decline to 4525.00.

Nasdaq 100 (CME)

may fall to 14850.00 – 15000.00

Pivot
15420.00

Our preference
Short positions below 15420.00 with targets at 15000.00 & 14850.00 in extension.

Alternative scenario
Above 15420.00 look for further upside with 15650.00 & 15800.00 as targets.

Comment
The RSI advocates for further decline.

Hang Seng (HKFE)

may fall to 23850.00 – 23930.00

Pivot
24200.00

Our preference
Short positions below 24200.00 with targets at 23930.00 & 23850.00 in extension.

Alternative scenario
Above 24200.00 look for further upside with 24370.00 & 24560.00 as targets.

Comment
As long as the resistance at 24200.00 is not surpassed, the risk of the break below 23930.00 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.