1. Daily technical analysis of selected currency pairs

GBP/EUR Bearish

Image Features: forms “Inside Bar (Bearish)” pattern

Target
Opportunity recognized 2021 Jun 02 for the period of up to 48 hours
+0.00275 (27.5 pips) price change since the Technical Event at 1.16060

Technical Analysis
We found a pattern called Inside Bar (Bearish) on 2021 Jun 02 at 17:00 GMT on a 4 hour chart suggesting the outlook is bearish for up to 48 hours.

A bearish event triggered for Fast Stochastics on 2021 Jun 04 at 01:00 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.

CAD/JPY Bearish

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

Target
Opportunity recognized 2021 Jun 04 for the period of up to 12 hours
-0.051 (5.1 pips) price change since the Technical Event at 90.991

Technical Analysis
We found a pattern called Hanging Man on 2021 Jun 04 at 05:30 GMT on a 30 minute chart suggesting the outlook is bearish for up to 12 hours.

On 2021 Jun 04 at 01:00 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.

2. Daily Analyst’s View

EUR/USD

may fall 22 – 42 pips

Pivot
1.2140

Our preference
Short positions below 1.2140 with targets at 1.2090 & 1.2070 in extension.

Alternative scenario
Above 1.2140 look for further upside with 1.2160 & 1.2180 as targets.

Comment
The RSI is mixed to bearish.

GBP/USD

may fall 34 – 59 pips

Pivot
1.4130

Our preference
Short positions below 1.4130 with targets at 1.4060 & 1.4035 in extension.

Alternative scenario
Above 1.4130 look for further upside with 1.4155 & 1.4180 as targets.

Comment
The RSI is mixed to bearish.

USD/CAD

may rise 15 – 35 pips

Pivot
1.2090

Our preference
Long positions above 1.2090 with targets at 1.2130 & 1.2150 in extension.

Alternative scenario
Below 1.2090 look for further downside with 1.2070 & 1.2045 as targets.

Comment
The RSI shows upside momentum.

Gold

may fall to 1845.00 – 1855.00

Pivot
1878.00

Our preference
Short positions below 1878.00 with targets at 1855.00 & 1845.00 in extension.

Alternative scenario
Above 1878.00 look for further upside with 1889.00 & 1899.00 as targets.

Comment
As long as the resistance at 1878.00 is not surpassed, the risk of the break below 1855.00 remains high.

Crude Oil (WTI)

may rise to 69.40 – 69.80

Pivot
68.20

Our preference
Long positions above 68.20 with targets at 69.40 & 69.80 in extension.

Alternative scenario
Below 68.20 look for further downside with 67.80 & 67.40 as targets.

Comment
The RSI is bullish and calls for further upside.

S&P 500 (CME)

may fall to 4165.00 – 4175.00

Pivot
4200.00

Our preference
Short positions below 4200.00 with targets at 4175.00 & 4165.00 in extension.

Alternative scenario
Above 4200.00 look for further upside with 4215.00 & 4230.00 as targets.

Comment
The RSI is mixed with a bearish bias.

Nasdaq 100 (CME)

may fall to 13370.00 – 13465.00

Pivot
13590.00

Our preference
Short positions below 13590.00 with targets at 13465.00 & 13370.00 in extension.

Alternative scenario
Above 13590.00 look for further upside with 13650.00 & 13705.00 as targets.

Comment
The RSI is mixed to bearish.

Hang Seng (HKFE)

may fall to 28580.00 – 28715.00

Pivot
29000.00

Our preference
Short positions below 29000.00 with targets at 28715.00 & 28580.00 in extension.

Alternative scenario
Above 29000.00 look for further upside with 29145.00 & 29280.00 as targets.

Comment
The RSI is mixed to bearish.

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.