1. Daily technical analysis of selected currency pairs

AUD/USD Bearish

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

Target
Opportunity recognized 2021 May 20 for the period of up to 12 hours
-0.00033 (33 pips) price change since the Technical Event at 0.77333

Technical Analysis
We found a pattern called Engulfing Line (Bearish) on 2021 May 20 at 02:15 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 May 20 at 02:15 GMT signaling a new downtrend has been established.

CAD/JPY  Bearish

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

Target
Opportunity recognized 2021 May 20 for the period of up to 12 hours
+0.013 (13 pips) price change since the Technical Event at 90.020

Technical Analysis
We found a pattern called Outside Bar (Bearish) on 2021 May 20 at 02:15 GMT on a 5 minute chart suggesting the outlook is bearish for up to 12 hours.
The price crossed below its moving average on 2021 May 20 at 02:15 GMT signaling a new downtrend has been established.

2. Daily Analyst’s View

EUR/USD

may fall 22 – 47 pips

Pivot
1.2200

Our preference
Short positions below 1.2200 with targets at 1.2150 & 1.2125 in extension.

Alternative scenario
Above 1.2200 look for further upside with 1.2220 & 1.2245 as targets.

Comment
The RSI advocates for further downside.

GBP/USD

may fall 20 – 50 pips

Pivot
1.4150

Our preference
Short positions below 1.4150 with targets at 1.4090 & 1.4060 in extension.

Alternative scenario
Above 1.4150 look for further upside with 1.4175 & 1.4200 as targets.

Comment
The RSI is bearish and calls for further decline.

USD/CAD

may rise 28 – 68 pips

Pivot
1.2090

Our preference
Long positions above 1.2090 with targets at 1.2160 & 1.2200 in extension.

Alternative scenario
Below 1.2090 look for further downside with 1.2060 & 1.2030 as targets.

Comment
The RSI is bullish and calls for further upside.

Gold

may fall to 1843.00 – 1851.00

Pivot
1878.00

Our preference
Short positions below 1878.00 with targets at 1851.00 & 1843.00 in extension.

Alternative scenario
Above 1878.00 look for further upside with 1890.00 & 1900.00 as targets.

Comment
The RSI is bearish and calls for further downside.

Crude Oil (WTI)

may fall to 61.95 – 62.65

Pivot
63.90

Our preference
Short positions below 63.90 with targets at 62.65 & 61.95 in extension.

Alternative scenario
Above 63.90 look for further upside with 64.95 & 65.65 as targets.

Comment
As long as the resistance at 63.90 is not surpassed, the risk of the break below 62.65 remains high.

S&P 500 (CME)

may rise to 4123.00 – 4147.00

Pivot
4078.00

Our preference
Long positions above 4078.00 with targets at 4123.00 & 4147.00 in extension.

Alternative scenario
Below 4078.00 look for further downside with 4056.00 & 4029.00 as targets.

Comment
The RSI is mixed to bullish.

Nasdaq 100 (CME)

may rise to 13325.00 – 13425.00

Pivot
13060.00

Our preference
Long positions above 13060.00 with targets at 13325.00 & 13425.00 in extension.

Alternative scenario
Below 13060.00 look for further downside with 12955.00 & 12850.00 as targets.

Comment
The RSI is mixed to bullish.

FTSE China A50

may rise to 18609.08 – 18926.91

Pivot
17068.55

Our preference
The upside prevails as long as 17068.55 is support.

Alternative scenario
The downside breakout of 17068.55 would call for 16540.56 and 16225.87.

Comment
The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. FTSE China A50 index is above its 20 and 50 period moving average (respectively at 17241.20 and 17256.59).

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.