1. Daily technical analysis of selected currency pairs

GBP/CAD Bullish

Image Features: forms “Diamond Bottom” pattern

Target
Opportunity recognized 2021 Jun 04 for the period of up to 2 weeks
+0.00045 (4.5 pips) price change since the Technical Event at 1.71128

Technical Analysis

We found a pattern called Diamond Bottom on 2021 Jun 04 at 09:00 GMT on a 4 hour chart, providing a target price for up to 2 weeks in the range of 1.73000 to 1.74000.

The faster moving average crossed above the slower moving average on 2021 Jun 08 at 13:00 GMT, signaling a new uptrend has been established.

USD/AUD Bearish

Image Features: forms “Hanging Man” pattern

Target
Opportunity recognized 2021 Jun 29 for the period of up to 12 hours
-0.00075 (7.5 pips) price change since the Technical Event at 1.32428

Technical Analysis
We found a pattern called Hanging Man on 2021 Jun 29 at 03:25 GMT on a 5 minute chart suggesting the outlook is bearish for up to 12 hours.

On 2021 Jun 29 at 04:10 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 11 – 26 pips

Pivot
1.1930

Our preference
Short positions below 1.1930 with targets at 1.1900 & 1.1885 in extension.

Alternative scenario
Above 1.1930 look for further upside with 1.1945 & 1.1960 as targets.

Comment
The immediate trend remains down and the momentum is strong.

GBP/USD

may fall 19 – 39 pips

Pivot
1.3895

Our preference
Short positions below 1.3895 with targets at 1.3845 & 1.3825 in extension.

Alternative scenario
Above 1.3895 look for further upside with 1.3915 & 1.3940 as targets.

Comment
The RSI is bearish and calls for further downside.

USD/CAD

may rise 14 – 34 pips

Pivot
1.2320

Our preference
Long positions above 1.2320 with targets at 1.2360 & 1.2380 in extension.

Alternative scenario
Below 1.2320 look for further downside with 1.2300 & 1.2285 as targets.

Comment
The RSI calls for a new upleg.

Gold

may fall to 1760.00 – 1771.00

Pivot
1786.00

Our preference
Short positions below 1786.00 with targets at 1771.00 & 1760.00 in extension.

Alternative scenario
Above 1786.00 look for further upside with 1790.00 & 1795.00 as targets.

Comment
The RSI calls for a drop.

Crude Oil (WTI)

may fall to 71.70 – 72.30

Pivot
73.10

Our preference
Short positions below 73.10 with targets at 72.30 & 71.70 in extension.

Alternative scenario
Above 73.10 look for further upside with 73.45 & 73.85 as targets.

Comment
The RSI shows downside momentum.

S&P 500 (CME)

may rise to 4293.00 – 4302.00

Pivot
4264.00

Our preference
Long positions above 4264.00 with targets at 4293.00 & 4302.00 in extension.

Alternative scenario
Below 4264.00 look for further downside with 4251.00 & 4239.00 as targets.

Comment
The RSI is mixed with a bullish bias.

Nasdaq 100 (CME)

may rise to 14545.00 – 14600.00

Pivot
14420.00

Our preference
Long positions above 14420.00 with targets at 14545.00 & 14600.00 in extension.

Alternative scenario
Below 14420.00 look for further downside with 14350.00 & 14310.00 as targets.

Comment
The RSI is mixed with a bullish bias.

Hang Seng (HKFE)

may fall to 28640.00 – 28845.00

Pivot
29200.00

Our preference
Short positions below 29200.00 with targets at 28845.00 & 28640.00 in extension.

Alternative scenario
Above 29200.00 look for further upside with 29370.00 & 29500.00 as targets.

Comment
As long as 29200.00 is resistance, look for choppy price action with a bearish bias.

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.