1. Daily technical analysis of selected currency pairs



CAD/JPY Bullish

Image Features: forms “Flag (Bullish)” pattern

Target
Opportunity recognized 2021 Oct 04 for the period of up to 2 weeks
+0.727 (72.7 pips) price change since the Technical Event at 87.814

Technical Analysis

We found a pattern called Flag (Bullish) on 2021 Oct 04 at 05:00 GMT on a 4 hour chart, providing a target price for up to 2 weeks in the range of 88.450 to 88.600.

On 2021 Oct 04 at 17:00 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.

USD/EUR Bullish

Image Features: forms “Hammer (Bullish)” pattern

Target
Opportunity recognized 2021 Oct 07 for the period of up to 12 hours
+0.00032 (3.2 pips) price change since the Technical Event at 0.86514

Technical Analysis

We found a pattern called Hammer on 2021 Oct 07 at 01:00 GMT on a 30 minute chart suggesting the outlook is bullish for up to 12 hours.

The Momentum oscillator crossed above 0 on 2021 Oct 07 at 00:30 GMT, thereby signaling a new accelerating uptrend.

2. Daily Analyst’s View



EUR/USD

may fall 24 – 39 pips

Pivot
1.1570

Our preference
Short positions below 1.1570 with targets at 1.1530 & 1.1515 in extension.

Alternative scenario
Above 1.1570 look for further upside with 1.1585 & 1.1600 as targets.

Comment
As long as the resistance at 1.1570 is not surpassed, the risk of the break below 1.1530 remains high.

GBP/USD

may rise 22 – 42 pips

Pivot
1.3560

Our preference
Long positions above 1.3560 with targets at 1.3610 & 1.3630 in extension.

Alternative scenario
Below 1.3560 look for further downside with 1.3545 & 1.3530 as targets.

Comment
The RSI calls for a rebound.

USD/CAD

may fall 27 – 47 pips

Pivot
1.2610

Our preference
Short positions below 1.2610 with targets at 1.2560 & 1.2540 in extension.

Alternative scenario
Above 1.2610 look for further upside with 1.2630 & 1.2650 as targets.

Comment
The RSI is bearish and calls for further downside.

Gold

may rise to 1770.00 – 1778.00

Pivot
1753.00

Our preference
Long positions above 1753.00 with targets at 1770.00 & 1778.00 in extension.

Alternative scenario
Below 1753.00 look for further downside with 1745.00 & 1735.00 as targets.

Comment
The RSI calls for a new upleg.

Crude Oil (WTI)

may fall to 75.35 – 76.20

Pivot
78.00

Our preference
Short positions below 78.00 with targets at 76.20 & 75.35 in extension.

Alternative scenario
Above 78.00 look for further upside with 78.80 & 79.70 as targets.

Comment
The RSI is bearish and calls for further downside.

S&P 500 (CME)

may rise to 4388.00 – 4410.00

Pivot
4327.00

Our preference
Long positions above 4327.00 with targets at 4388.00 & 4410.00 in extension.

Alternative scenario
Below 4327.00 look for further downside with 4295.00 & 4274.00 as targets.

Comment
The RSI shows upside momentum.

Nasdaq 100 (CME)

may rise to 14885.00 – 15000.00

Pivot
14650.00

Our preference
Long positions above 14650.00 with targets at 14885.00 & 15000.00 in extension.

Alternative scenario
Below 14650.00 look for further downside with 14560.00 & 14420.00 as targets.

Comment
The RSI advocates for further upside.

Hang Seng (HKFE)

may rise to 24280.00 – 24440.00

Pivot
23840.00

Our preference
Long positions above 23840.00 with targets at 24280.00 & 24440.00 in extension.

Alternative scenario
Below 23840.00 look for further downside with 23640.00 & 23440.00 as targets.

Comment
The RSI calls for a rebound.

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.