Doo Prime Daily Featured Trading Strategies – March 18, 2022

1. Daily technical analysis of selected currency pairs

AUD/JPY Bullish

Image Features: forms “Continuation Diamond (Bullish)” pattern

Target
Opportunity recognized 2022 Mar 16 for the period of up to 2 weeks
+2.366 (236.6 pips) price change since the Technical Event at 85.202

Technical Analysis

We found a pattern called Continuation Diamond (Bullish) on 2022 Mar 16 at 09:00 GMT on a 4 hour chart, providing a target price for up to 2 weeks in the range of 87.100 to 87.500.

On 2022 Mar 16 at 17:00 GMT, the 4-bar Moving Average crossed above the 9-bar MA which crossed above the 18-bar MA, signaling a new uptrend has been established.

 

CAD/JPY Bullish

Image Features: forms “Continuation Diamond (Bullish)” pattern

Target
Opportunity recognized 2022 Feb 23 for the period of up to 2 weeks
+3.610 (360 pips) price change since the Technical Event at 90.449

Technical Analysis

We found a pattern called Continuation Diamond (Bullish) on 2022 Feb 23 at 09:00 GMT on a 4 hour chart, providing a target price for up to 2 weeks in the range of 92.800 to 93.300.

The faster moving average crossed above the slower moving average on 2022 Mar 14 at 01:00 GMT, signaling a new uptrend has been established.

 

2. Daily Analyst’s View

EUR/USD

may rise 24 – 44 pips

Pivot
1.1070

Our preference
Long positions above 1.1070 with targets at 1.1120 & 1.1140 in extension.

Alternative scenario
Below 1.1070 look for further downside with 1.1045 & 1.1020 as targets.

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

 

GBP/USD

may rise 23 – 48 pips

Pivot
1.3140

Our preference
Long positions above 1.3140 with targets at 1.3185 & 1.3210 in extension.

Alternative scenario
Below 1.3140 look for further downside with 1.3120 & 1.3095 as targets.

Comment
A support base at 1.3140 has formed and has allowed for a temporary stabilisation.

 

USD/CAD

may fall 19 – 39 pips

Pivot
1.2655

Our preference
Short positions below 1.2655 with targets at 1.2605 & 1.2585 in extension.

Alternative scenario
Above 1.2655 look for further upside with 1.2680 & 1.2710 as targets.

Comment
A break below 1.2605 would trigger a drop towards 1.2585.

 

Gold

may rise to 1954.00 – 1967.00

Pivot
1929.00

Our preference
Long positions above 1929.00 with targets at 1954.00 & 1967.00 in extension.

Alternative scenario
Below 1929.00 look for further downside with 1916.00 & 1904.00 as targets.

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

 

Crude Oil (WTI)

may rise to 107.70 – 110.20

Pivot
101.80

Our preference
Long positions above 101.80 with targets at 107.70 & 110.20 in extension.

Alternative scenario
Below 101.80 look for further downside with 99.20 & 97.30 as targets.

Comment
The RSI advocates for further advance.

 

S&P 500 (CME)

may rise to 4448.00 – 4475.00

Pivot
4340.00

Our preference
Long positions above 4340.00 with targets at 4448.00 & 4475.00 in extension.

Alternative scenario
Below 4340.00 look for further downside with 4290.00 & 4242.00 as targets.

Comment
The RSI is above its neutrality area at 50%.

 

Nasdaq 100 (CME)

may rise to 14250.00 – 14500.00

Pivot
13845.00

Our preference
Long positions above 13845.00 with targets at 14250.00 & 14500.00 in extension.

Alternative scenario
Below 13845.00 look for further downside with 13660.00 & 13460.00 as targets.

Comment
The next resistances are at 14250.00 and then at 14500.00.

 

Hang Seng (HKFE)

may rise to 21930.00 – 22450.00

Pivot
20660.00

Our preference
Long positions above 20660.00 with targets at 21930.00 & 22450.00 in extension.

Alternative scenario
Below 20660.00 look for further downside with 20210.00 & 19720.00 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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