1. Daily technical analysis of selected currency pairs

GBP/CAD Bullish

Image Features: forms “Hammer” pattern

Target
Opportunity recognized 2021 Jun 08 for the period of up to 12 hours
+0.00030 (3 pips) price change since the Technical Event at 1.71044

Technical Analysis
We found a pattern called Hammer on 2021 Jun 08 at 06:00 GMT on a 15 minute chart suggesting the outlook is bullish for up to 12 hours.

A bullish event triggered for Slow Stochastics on 2021 Jun 08 at 06:15 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.

AUD/JPY Bullish

Image Features: forms “Outside Bar (Bullish)” pattern

Target
Opportunity recognized 2021 Jun 04 for the period of up to 48 hours
+0.095 (9.5 pips) price change since the Technical Event at 84.675

Technical Analysis
We found a pattern called Outside Bar (Bullish) on 2021 Jun 04 at 13:00 GMT on a 4 hour chart suggesting the outlook is bullish for up to 48 hours.

The price crossed above its moving average on 2021 Jun 08 at 01:00 GMT signaling a new uptrend has been established.

2. Daily Analyst’s View

EUR/USD

may rise 21 – 36 pips

Pivot
1.2165

Our preference
Long positions above 1.2165 with targets at 1.2200 & 1.2215 in extension.

Alternative scenario
Below 1.2165 look for further downside with 1.2145 & 1.2130 as targets.

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

GBP/USD

may rise 43 – 68 pips

Pivot
1.4140

Our preference
Long positions above 1.4140 with targets at 1.4200 & 1.4225 in extension.

Alternative scenario
Below 1.4140 look for further downside with 1.4110 & 1.4080 as targets.

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

USD/CAD

may rise 18 – 43 pips

Pivot
1.2060

Our preference
Long positions above 1.2060 with targets at 1.2105 & 1.2130 in extension.

Alternative scenario
Below 1.2060 look for further downside with 1.2045 & 1.2025 as targets.

Comment
The RSI shows upside momentum.

Gold

may rise to 1909.00 – 1916.00

Pivot
1887.00

Our preference
Long positions above 1887.00 with targets at 1909.00 & 1916.00 in extension.

Alternative scenario
Below 1887.00 look for further downside with 1880.00 & 1873.00 as targets.

Comment
The RSI calls for a bounce.

Crude Oil (WTI)

may fall to 67.80 – 68.20

Pivot
69.20

Our preference
Short positions below 69.20 with targets at 68.20 & 67.80 in extension.

Alternative scenario
Above 69.20 look for further upside with 69.60 & 70.00 as targets.

Comment
The RSI advocates for further decline.

S&P 500 (CME)

may rise to 4238.00 – 4250.00

Pivot
4215.00

Our preference
Long positions above 4215.00 with targets at 4238.00 & 4250.00 in extension.

Alternative scenario
Below 4215.00 look for further downside with 4207.00 & 4197.00 as targets.

Comment
A support base at 4215.00 has formed and has allowed for a temporary stabilisation.

Nasdaq 100 (CME)

may rise to 13885.00 – 13935.00

Pivot
13770.00

Our preference
Long positions above 13770.00 with targets at 13885.00 & 13935.00 in extension.

Alternative scenario
Below 13770.00 look for further downside with 13730.00 & 13690.00 as targets.

Comment
The RSI advocates for further advance.

Hang Seng (HKFE)

may fall to 28340.00 – 28445.00

Pivot
28850.00

Our preference
Short positions below 28850.00 with targets at 28445.00 & 28340.00 in extension.

Alternative scenario
Above 28850.00 look for further upside with 28980.00 & 29120.00 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.