Doo Prime Daily Featured Trading Strategies – February 28, 2022

1. Daily technical analysis of selected currency pairs

AUD/JPY Bullish

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

Target
Opportunity recognized 2022 Feb 24 for the period of up to 48 hours
+0.481 (48.1 pips) price change since the Technical Event at 82.631

Technical Analysis

We found a pattern called Double Bottom on 2022 Feb 24 at 19:45 GMT on a 15 minute chart, providing a target price for up to 48 hours in the range of 83.200 to 83.300.

The faster moving average crossed above the slower moving average on 2022 Feb 25 at 10:30 GMT, signaling a new uptrend has been established.

 

EUR/JPY Bullish

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

Target
Opportunity recognized 2022 Feb 24 for the period of up to 48 hours
+0.664 (66.4 pips) price change since the Technical Event at 128.579

Technical Analysis

We found a pattern called Inside Bar (Bullish) on 2022 Feb 24 at 17:00 GMT on a 4 hour chart suggesting the outlook is bullish for up to 48 hours.

The Momentum oscillator crossed above 0 on 2022 Feb 25 at 17:00 GMT, thereby signaling a new accelerating uptrend.

 

2. Daily Analyst’s View

EUR/USD

may fall 40 – 60 pips

Pivot
1.1220

Our preference
Short positions below 1.1220 with targets at 1.1140 & 1.1120 in extension.

Alternative scenario
Above 1.1220 look for further upside with 1.1250 & 1.1275 as targets.

Comment
The RSI advocates for further downside.

 

GBP/USD

may fall 55 – 95 pips

Pivot
1.3410

Our preference
Short positions below 1.3410 with targets at 1.3310 & 1.3270 in extension.

Alternative scenario
Above 1.3410 look for further upside with 1.3440 & 1.3470 as targets.

Comment
As long as the resistance at 1.3410 is not surpassed, the risk of the break below 1.3310 remains high.

 

USD/CAD

may fall 35 – 65 pips

Pivot
1.2790

Our preference
Short positions below 1.2790 with targets at 1.2720 & 1.2690 in extension.

Alternative scenario
Above 1.2790 look for further upside with 1.2820 & 1.2850 as targets.

Comment
The upward potential is likely to be limited by the resistance at 1.2790.

 

Gold

may rise to 1931.00 – 1945.00

Pivot
1892.00

Our preference
Long positions above 1892.00 with targets at 1931.00 & 1945.00 in extension.

Alternative scenario
Below 1892.00 look for further downside with 1878.00 & 1864.00 as targets.

Comment
The RSI calls for a bounce.

 

Crude Oil (WTI)

may rise to 100.50 – 102.00

Pivot
93.75

Our preference
Long positions above 93.75 with targets at 100.50 & 102.00 in extension.

Alternative scenario
Below 93.75 look for further downside with 91.70 & 90.00 as targets.

Comment
The RSI shows upside momentum.

 

S&P 500 (CME)

may fall to 4190.00 – 4227.00

Pivot
4351.00

Our preference
Short positions below 4351.00 with targets at 4227.00 & 4190.00 in extension.

Alternative scenario
Above 4351.00 look for further upside with 4410.00 & 4476.00 as targets.

Comment
The RSI calls for a drop.

 

Nasdaq 100 (CME)

may fall to 13410.00 – 13560.00

Pivot
14055.00

Our preference
Short positions below 14055.00 with targets at 13560.00 & 13410.00 in extension.

Alternative scenario
Above 14055.00 look for further upside with 14300.00 & 14490.00 as targets.

Comment
The RSI calls for a drop.

 

Hang Seng (HKFE)

may fall to 22400.00 – 22580.00

Pivot
23070.00

Our preference
Short positions below 23070.00 with targets at 22580.00 & 22400.00 in extension.

Alternative scenario
Above 23070.00 look for further upside with 23260.00 & 23625.00 as targets.

Comment
As long as 23070.00 is resistance, look for choppy price action with a bearish bias.

 

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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