1. Daily technical analysis of selected currency pairs



CAD/JPY Bullish

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

Target
Opportunity recognized 2021 Sep 09 for the period of up to 12 hours
-0.017 (1.7 pips) price change since the Technical Event at 86.757

Technical Analysis

We found a pattern called Engulfing Line (Bullish) on 2021 Sep 09 at 02:00 GMT on a 30 minute chart suggesting the outlook is bullish for up to 12 hours.

A bullish event triggered for Slow Stochastics on 2021 Sep 09 at 03:00 GMT when the %K line crossed above the %D line. The close prices are trading closer to the upper end of the recent high-low price range, which is associated with price increases.

GBP/EUR Bearish

Image Features: forms “Hanging Man (Bearish)” pattern

Target
Opportunity recognized 2021 Sep 08 for the period of up to 48 hours
-0.00055 (5.5 pips) price change since the Technical Event at 1.16510

Technical Analysis

We found a pattern called Hanging Man on 2021 Sep 08 at 17:00 GMT on a 4 hour chart suggesting the outlook is bearish for up to 48 hours.

The price crossed below its moving average on 2021 Sep 09 at 01:00 GMT signaling a new downtrend has been established.

2. Daily Analyst’s View

EUR/USD

may rise 16 – 31 pips

Pivot
1.1805

Our preference
Long positions above 1.1805 with targets at 1.1840 & 1.1855 in extension.

Alternative scenario
Below 1.1805 look for further downside with 1.1790 & 1.1775 as targets.

Comment
The RSI calls for a rebound.

GBP/USD

may rise 16 – 31 pips

Pivot
1.3750

Our preference
Long positions above 1.3750 with targets at 1.3785 & 1.3800 in extension.

Alternative scenario
Below 1.3750 look for further downside with 1.3735 & 1.3720 as targets.

Comment
The RSI calls for a bounce.

USD/CAD

may rise 38 – 68 pips

Pivot
1.2650

Our preference
Long positions above 1.2650 with targets at 1.2730 & 1.2760 in extension.

Alternative scenario
Below 1.2650 look for further downside with 1.2620 & 1.2590 as targets.

Comment
The RSI advocates for further upside.

Gold

may fall to 1770.00 – 1781.00

Pivot
1800.00

Our preference
Short positions below 1800.00 with targets at 1781.00 & 1770.00 in extension.

Alternative scenario
Above 1800.00 look for further upside with 1807.00 & 1815.00 as targets.

Comment
The RSI is bearish and calls for further decline.

Crude Oil (WTI)

may rise to 69.75 – 70.30

Pivot
68.80

Our preference
Long positions above 68.80 with targets at 69.75 & 70.30 in extension.

Alternative scenario
Below 68.80 look for further downside with 68.35 & 68.05 as targets.

Comment
The RSI lacks downward momentum.

S&P 500 (CME)

may fall to 4475.00 – 4483.00

Pivot
4505.00

Our preference
Short positions below 4505.00 with targets at 4483.00 & 4475.00 in extension.

Alternative scenario
Above 4505.00 look for further upside with 4511.00 & 4518.00 as targets.

Comment
As long as the resistance at 4505.00 is not surpassed, the risk of the break below 4483.00 remains high.

Nasdaq 100 (CME)

may fall to 15515.00 – 15540.00

Pivot
15625.00

Our preference
Short positions below 15625.00 with targets at 15540.00 & 15515.00 in extension.

Alternative scenario
Above 15625.00 look for further upside with 15660.00 & 15700.00 as targets.

Comment
As long as 15625.00 is resistance, look for choppy price action with a bearish bias.

Hang Seng (HKFE)

may fall to 25600.00 – 25710.00

Pivot
26130.00

Our preference
Short positions below 26130.00 with targets at 25710.00 & 25600.00 in extension.

Alternative scenario
Above 26130.00 look for further upside with 26310.00 & 26460.00 as targets.

Comment
The RSI is bearish and calls for further downside.

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.