Doo Prime Daily Featured Trading Strategies – March 21, 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
+3.008 (300.8 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
+4.076 (407.6 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 price crossed above its moving average on 2022 Mar 10 at 17:00 GMT signaling a new uptrend has been established.

 

2. Daily Analyst’s View

EUR/USD

may fall 20 – 40 pips

Pivot
1.1070

Our preference
Short positions below 1.1070 with targets at 1.1020 & 1.1000 in extension.

Alternative scenario
Above 1.1070 look for further upside with 1.1090 & 1.1110 as targets.

Comment
The RSI advocates for further decline.

 

GBP/USD

may fall 28 – 48 pips

Pivot
1.3190

Our preference
Short positions below 1.3190 with targets at 1.3130 & 1.3110 in extension.

Alternative scenario
Above 1.3190 look for further upside with 1.3210 & 1.3230 as targets.

Comment
The RSI calls for a drop.

 

USD/CAD

may fall 18 – 33 pips

Pivot
1.2630

Our preference
Short positions below 1.2630 with targets at 1.2585 & 1.2570 in extension.

Alternative scenario
Above 1.2630 look for further upside with 1.2645 & 1.2660 as targets.

Comment
As long as the resistance at 1.2630 is not surpassed, the risk of the break below 1.2585 remains high.

 

Gold

may fall to 1903.00 – 1917.00

Pivot
1936.00

Our preference
Short positions below 1936.00 with targets at 1917.00 & 1903.00 in extension.

Alternative scenario
Above 1936.00 look for further upside with 1944.00 & 1950.00 as targets.

Comment
As long as the resistance at 1936.00 is not surpassed, the risk of the break below 1917.00 remains high.

 

Crude Oil (WTI)

may rise to 107.70 – 110.20

Pivot
102.50

Our preference
Long positions above 102.50 with targets at 107.70 & 110.20 in extension.

Alternative scenario
Below 102.50 look for further downside with 101.00 & 99.00 as targets.

Comment
The RSI advocates for further advance.

 

S&P 500 (CME)

may rise to 4510.00 – 4543.00

Pivot
4397.00

Our preference
Long positions above 4397.00 with targets at 4510.00 & 4543.00 in extension.

Alternative scenario
Below 4397.00 look for further downside with 4340.00 & 4290.00 as targets.

Comment
The next resistances are at 4510.00 and then at 4543.00.

 

Nasdaq 100 (CME)

may rise to 14660.00 – 14815.00

Pivot
14140.00

Our preference
Long positions above 14140.00 with targets at 14660.00 & 14815.00 in extension.

Alternative scenario
Below 14140.00 look for further downside with 13845.00 & 13660.00 as targets.

Comment
The RSI shows upside momentum.

 

Hang Seng (HKFE)

may rise to 22800.00 – 23250.00

Pivot
21625.00

Our preference
Long positions above 21625.00 with targets at 22800.00 & 23250.00 in extension.

Alternative scenario
Below 21625.00 look for further downside with 20860.00 & 20210.00 as targets.

Comment
The break above the resistance at 21625.00 triggered an upward acceleration to 22800.00.

 

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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