Doo Prime Daily Featured Trading Strategies – April 4, 2022

1. Daily technical analysis of selected currency pairs

AUD/JPY Bullish

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

Target
Opportunity recognized 2022 Apr 01 for the period of up to 48 hours
+0.456 (45.6 pips) price change since the Technical Event at 91.382

Technical Analysis

We found a pattern called Double Bottom on 2022 Apr 01 at 02:00 GMT on a 1 hour chart, providing a target price for up to 48 hours in the range of 91.950 to 92.050.

The price crossed above its moving average on 2022 Apr 03 at 23:00 GMT signaling a new uptrend has been established.

 

CAD/JPY Bearish

Image Features: forms “Diamond Top (Bearish)” pattern

Target
Opportunity recognized 2022 Apr 01 for the period of up to 2 weeks
-0.103 (10.3 pips) price change since the Technical Event at 97.916

Technical Analysis

We found a pattern called Diamond Top on 2022 Apr 01 at 12:30 GMT on a 30 minute chart, providing a target price for up to 2 weeks in the range of 96.600 to 96.800.

The price crossed below its moving average on 2022 Apr 03 at 23:30 GMT signaling a new downtrend has been established.

 

2. Daily Analyst’s View

EUR/USD

may fall 23 – 48 pips

Pivot
1.1075

Our preference
Short positions below 1.1075 with targets at 1.1025 & 1.1000 in extension.

Alternative scenario
Above 1.1075 look for further upside with 1.1095 & 1.1115 as targets.

Comment
As long as the resistance at 1.1075 is not surpassed, the risk of the break below 1.1025 remains high.

 

GBP/USD

may fall 20 – 40 pips

Pivot
1.3125

Our preference
Short positions below 1.3125 with targets at 1.3085 & 1.3065 in extension.

Alternative scenario
Above 1.3125 look for further upside with 1.3145 & 1.3165 as targets.

Comment
As long as 1.3125 is resistance, look for choppy price action with a bearish bias.

 

USD/CAD

may rise 25 – 40 pips

Pivot
1.2495

Our preference
Long positions above 1.2495 with targets at 1.2550 & 1.2565 in extension.

Alternative scenario
Below 1.2495 look for further downside with 1.2480 & 1.2465 as targets.

Comment
The RSI advocates for further upside.

 

Gold

may fall to 1907.00 – 1915.00

Pivot
1934.00

Our preference
Short positions below 1934.00 with targets at 1915.00 & 1907.00 in extension.

Alternative scenario
Above 1934.00 look for further upside with 1942.00 & 1949.00 as targets.

Comment
The RSI is mixed with a bearish bias.

 

Crude Oil (WTI)

may fall to 95.10 – 96.60

Pivot
100.80

Our preference
Short positions below 100.80 with targets at 96.60 & 95.10 in extension.

Alternative scenario
Above 100.80 look for further upside with 102.70 & 104.15 as targets.

Comment
The RSI calls for a drop.

 

S&P 500 (CME)

may fall to 4480.00 – 4501.00

Pivot
4555.00

Our preference
Short positions below 4555.00 with targets at 4501.00 & 4480.00 in extension.

Alternative scenario
Above 4555.00 look for further upside with 4575.00 & 4589.00 as targets.

Comment
As long as the resistance at 4555.00 is not surpassed, the risk of the break below 4501.00 remains high.

 

Nasdaq 100 (CME)

may fall to 14580.00 – 14720.00

Pivot
14950.00

Our preference
Short positions below 14950.00 with targets at 14720.00 & 14580.00 in extension.

Alternative scenario
Above 14950.00 look for further upside with 15030.00 & 15115.00 as targets.

Comment
As long as the resistance at 14950.00 is not surpassed, the risk of the break below 14720.00 remains high.

 

Hang Seng (HKFE)

may rise to 22410.00 – 22650.00

Pivot
21910.00

Our preference
Long positions above 21910.00 with targets at 22410.00 & 22650.00 in extension.

Alternative scenario
Below 21910.00 look for further downside with 21740.00 & 21540.00 as targets.

Comment
The RSI has just landed on its neutrality area at 50% and is turning up.

 

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.

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