1. Daily technical analysis of selected currency pairs



CAD/JPY Bearish

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

Target
Opportunity recognized 2021 Oct 11 for the period of up to 12 hours
+0.031 (3.1 pips) price change since the Technical Event at 90.159

Technical Analysis

We found a pattern called Engulfing Line (Bearish) on 2021 Oct 11 at 02:00 GMT on a 15 minute chart suggesting the outlook is bearish for up to 12 hours.

A bearish event triggered for Fast Stochastics on 2021 Oct 11 at 02:15 GMT when the %K line crossed below the %D line. The close prices are trading closer to the lower end of the recent high-low price range, which is associated with price decreases.

AUD/CAD Bearish

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

Target
Opportunity recognized 2021 Oct 08 for the period of up to 48 hours
-0.00335 (33.5 pips) price change since the Technical Event at 0.91650

Technical Analysis

We found a pattern called Double Top on 2021 Oct 08 at 05:00 GMT on a 1 hour chart, providing a target price for up to 48 hours in the range of 0.91000 to 0.92000.

The faster moving average crossed below the slower moving average on 2021 Oct 08 at 15:00 GMT, signaling a new downtrend has been established.

2. Daily Analyst’s View



EUR/USD

may rise 21 – 36 pips

Pivot
1.1555

Our preference
Long positions above 1.1555 with targets at 1.1585 & 1.1600 in extension.

Alternative scenario
Below 1.1555 look for further downside with 1.1540 & 1.1525 as targets.

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

GBP/USD

may fall 34 – 54 pips

Pivot
1.3640

Our preference
Short positions below 1.3640 with targets at 1.3580 & 1.3560 in extension.

Alternative scenario
Above 1.3640 look for further upside with 1.3660 & 1.3680 as targets.

Comment
The RSI advocates for further decline.

USD/CAD

may fall 33 – 53 pips

Pivot
1.2510

Our preference
Short positions below 1.2510 with targets at 1.2450 & 1.2430 in extension.

Alternative scenario
Above 1.2510 look for further upside with 1.2530 & 1.2560 as targets.

Comment
As long as the resistance at 1.2510 is not surpassed, the risk of the break below 1.2450 remains high.

Gold

may fall to 1740.00 – 1745.00

Pivot
1763.00

Our preference
Short positions below 1763.00 with targets at 1745.00 & 1740.00 in extension.

Alternative scenario
Above 1763.00 look for further upside with 1770.00 & 1779.00 as targets.

Comment
As long as 1763.00 is resistance, look for choppy price action with a bearish bias.

Crude Oil (WTI)

may rise to 80.40 – 81.00

Pivot
79.15

Our preference
Long positions above 79.15 with targets at 80.40 & 81.00 in extension.

Alternative scenario
Below 79.15 look for further downside with 78.65 & 78.10 as targets.

Comment
The RSI is mixed to bullish.

S&P 500 (CME)

may fall to 4317.00 – 4335.00

Pivot
4397.00

Our preference
Short positions below 4397.00 with targets at 4335.00 & 4317.00 in extension.

Alternative scenario
Above 4397.00 look for further upside with 4421.00 & 4442.00 as targets.

Comment
The RSI is bearish and calls for further decline.

Nasdaq 100 (CME)

may fall to 14500.00 – 14650.00

Pivot
14870.00

Our preference
Short positions below 14870.00 with targets at 14650.00 & 14500.00 in extension.

Alternative scenario
Above 14870.00 look for further upside with 15000.00 & 15120.00 as targets.

Comment
The RSI calls for a drop.

Hang Seng (HKFE)

may rise to 25170.00 – 25370.00

Pivot
24760.00

Our preference
Long positions above 24760.00 with targets at 25170.00 & 25370.00 in extension.

Alternative scenario
Below 24760.00 look for further downside with 24560.00 & 24360.00 as targets.

Comment
The RSI calls for a new upleg.

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.