1. Daily technical analysis of selected currency pairs



CAD/JPY Bullish

Image Features: forms “Megaphone Bottom (Bullish)” pattern

Target
Opportunity recognized 2021 Aug 24 for the period of up to 2 weeks
+0.499 (49.9 pips) price change since the Technical Event at 87.138

Technical Analysis

We found a pattern called Megaphone Bottom on 2021 Aug 24 at 15:00 GMT on a 1 hour chart, providing a target price for up to 2 weeks in the range of 89.400 to 89.900.

The price crossed above its moving average on 2021 Sep 05 at 22:00 GMT signaling a new uptrend has been established.

EUR/CHF Bullish

Image Features: forms “Triple Bottom (Bullish)” pattern

Target
Opportunity recognized 2021 Aug 25 for the period of up to 2 weeks
+0.00973 (97.3 pips) price change since the Technical Event at 1.07580

Technical Analysis

We found a pattern called Triple Bottom on 2021 Aug 25 at 21:00 GMT on a 4 hour chart, providing a target price for up to 2 weeks in the range of 1.08000 to 1.09000.

The faster moving average crossed above the slower moving average on 2021 Sep 02 at 13:00 GMT, signaling a new uptrend has been established.

2. Daily Analyst’s View

EUR/USD

may rise 16 – 31 pips

Pivot
1.1865

Our preference
Long positions above 1.1865 with targets at 1.1895 & 1.1910 in extension.

Alternative scenario
Below 1.1865 look for further downside with 1.1850 & 1.1835 as targets.

Comment
The RSI is bullish and calls for further upside.

GBP/USD

may rise 20 – 40 pips

Pivot
1.3830

Our preference
Long positions above 1.3830 with targets at 1.3870 & 1.3890 in extension.

Alternative scenario
Below 1.3830 look for further downside with 1.3815 & 1.3800 as targets.

Comment
The RSI advocates for further advance.

USD/CAD

may fall 22 – 37 pips

Pivot
1.2545

Our preference
Short positions below 1.2545 with targets at 1.2505 & 1.2490 in extension.

Alternative scenario
Above 1.2545 look for further upside with 1.2560 & 1.2575 as targets.

Comment
The RSI calls for a drop.

Gold

may fall to 1815.00 – 1820.00

Pivot
1830.00

Our preference
Short positions below 1830.00 with targets at 1820.00 & 1815.00 in extension.

Alternative scenario
Above 1830.00 look for further upside with 1834.00 & 1840.00 as targets.

Comment
The RSI is mixed to bearish.

Crude Oil (WTI)

may fall to 67.85 – 68.25

Pivot
69.45

Our preference
Short positions below 69.45 with targets at 68.25 & 67.85 in extension.

Alternative scenario
Above 69.45 look for further upside with 70.00 & 70.60 as targets.

Comment
As long as 69.45 is resistance, look for choppy price action with a bearish bias.

S&P 500 (CME)

may rise to 4553.00 – 4562.00

Pivot
4536.00

Our preference
Long positions above 4536.00 with targets at 4553.00 & 4562.00 in extension.

Alternative scenario
Below 4536.00 look for further downside with 4530.00 & 4520.00 as targets.

Comment
The RSI is mixed and calls for caution.

Nasdaq 100 (CME)

may rise to 15740.00 – 15780.00

Pivot
15640.00

Our preference
Long positions above 15640.00 with targets at 15740.00 & 15780.00 in extension.

Alternative scenario
Below 15640.00 look for further downside with 15605.00 & 15580.00 as targets.

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

Hang Seng (HKFE)

may rise to 26620.00 – 26820.00

Pivot
26030.00

Our preference
Long positions above 26030.00 with targets at 26620.00 & 26820.00 in extension.

Alternative scenario
Below 26030.00 look for further downside with 25890.00 & 25720.00 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.