1. Daily technical analysis of selected currency pairs



CAD/JPY Bearish

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

Target
Opportunity recognized 2021 Oct 27 for the period of up to 12 hours
-0.040 (4 pips) price change since the Technical Event at 92.088

Technical Analysis

We found a pattern called Engulfing Line (Bearish) on 2021 Oct 27 at 00:30 GMT on a 15 minute chart suggesting the outlook is bearish for up to 12 hours.

On 2021 Oct 27 at 01:45 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.

GBP/JPY Bearish

Image Features: forms “Flag (Bearish)” pattern

Target
Opportunity recognized 2021 Oct 27 for the period of up to 2 weeks
-0.164 (16.4 pips) price change since the Technical Event at 157.227

Technical Analysis

We found a pattern called Flag (Bearish) on 2021 Oct 27 at 01:00 GMT on a 4 hour chart, providing a target price for up to 2 weeks in the range of 155.100 to 155.500.

The faster moving average crossed below the slower moving average on 2021 Oct 26 at 05:00 GMT, signaling a new downtrend has been established.

2. Daily Analyst’s View



EUR/USD

may fall 16 – 31 pips

Pivot
1.1610

Our preference
Short positions below 1.1610 with targets at 1.1580 & 1.1565 in extension.

Alternative scenario
Above 1.1610 look for further upside with 1.1625 & 1.1640 as targets.

Comment
The RSI calls for a new downleg.

GBP/USD

may fall 24 – 44 pips

Pivot
1.3790

Our preference
Short positions below 1.3790 with targets at 1.3740 & 1.3720 in extension.

Alternative scenario
Above 1.3790 look for further upside with 1.3810 & 1.3830 as targets.

Comment
The RSI is bearish and calls for further downside.

USD/CAD

may rise 21 – 41 pips

Pivot
1.2360

Our preference
Long positions above 1.2360 with targets at 1.2410 & 1.2430 in extension.

Alternative scenario
Below 1.2360 look for further downside with 1.2340 & 1.2320 as targets.

Comment
The RSI advocates for further upside.

Gold

may fall to 1775.00 – 1782.00

Pivot
1799.00

Our preference
Short positions below 1799.00 with targets at 1782.00 & 1775.00 in extension.

Alternative scenario
Above 1799.00 look for further upside with 1807.00 & 1814.00 as targets.

Comment
As long as 1799.00 is resistance, look for choppy price action with a bearish bias.

Crude Oil (WTI)

may rise to 89.00 – 93.00

Pivot
77.40

Our preference
Long positions above 77.40 with targets at 89.00 & 93.00 in extension.

Alternative scenario
Below 77.40 look for further downside with 74.70 & 71.70 as targets.

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

S&P 500 (CME)

may rise to 4590.00 – 4600.00

Pivot
4561.00

Our preference
Long positions above 4561.00 with targets at 4590.00 & 4600.00 in extension.

Alternative scenario
Below 4561.00 look for further downside with 4551.00 & 4538.00 as targets.

Comment
A support base at 4561.00 has formed and has allowed for a temporary stabilisation.

Nasdaq 100 (CME)

may rise to 15640.00 – 15700.00

Pivot
15500.00

Our preference
Long positions above 15500.00 with targets at 15640.00 & 15700.00 in extension.

Alternative scenario
Below 15500.00 look for further downside with 15405.00 & 15320.00 as targets.

Comment
The next resistances are at 15640.00 and then at 15700.00.

Hang Seng (HKFE)

may fall to 25580.00 – 25720.00

Pivot
25970.00

Our preference
Short positions below 25970.00 with targets at 25720.00 & 25580.00 in extension.

Alternative scenario
Above 25970.00 look for further upside with 26090.00 & 26180.00 as targets.

Comment
The RSI has broken down its 30 level.

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.