Doo Prime Daily Featured Trading Strategies – March 23, 2022

1. Daily technical analysis of selected currency pairs

EUR/JPY Bearish

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

Target
Opportunity recognized 2022 Mar 23 for the period of up to 12 hours
-0.098 (9.8 pips) price change since the Technical Event at 133.679

Technical Analysis

We found a pattern called Inside Bar (Bearish) on 2022 Mar 23 at 00:30 GMT on a 30 minute chart suggesting the outlook is bearish for up to 12 hours.

The MACD generated a bearish signal on 2022 Mar 23 at 01:30 GMT.

 

CAD/JPY Bullish

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

Target
Opportunity recognized 2022 Feb 23 for the period of up to 2 weeks
+5.681 (568.1 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 rise 27 – 47 pips

Pivot
1.1000

Our preference
Long positions above 1.1000 with targets at 1.1050 & 1.1070 in extension.

Alternative scenario
Below 1.1000 look for further downside with 1.0980 & 1.0960 as targets.

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

 

GBP/USD

may rise 19 – 39 pips

Pivot
1.3245

Our preference
Long positions above 1.3245 with targets at 1.3295 & 1.3315 in extension.

Alternative scenario
Below 1.3245 look for further downside with 1.3220 & 1.3195 as targets.

Comment
The RSI is bullish and calls for further upside.

 

USD/CAD

may fall 19 – 39 pips

Pivot
1.2600

Our preference
Short positions below 1.2600 with targets at 1.2560 & 1.2540 in extension.

Alternative scenario
Above 1.2600 look for further upside with 1.2620 & 1.2640 as targets.

Comment
As long as the resistance at 1.2600 is not surpassed, the risk of the break below 1.2560 remains high.

 

Gold

may fall to 1903.00 – 1910.00

Pivot
1930.00

Our preference
Short positions below 1930.00 with targets at 1910.00 & 1903.00 in extension.

Alternative scenario
Above 1930.00 look for further upside with 1941.00 & 1950.00 as targets.

Comment
As long as the resistance at 1930.00 is not surpassed, the risk of the break below 1910.00 remains high.

 

Crude Oil (WTI)

may fall to 106.80 – 108.20

Pivot
111.10

Our preference
Short positions below 111.10 with targets at 108.20 & 106.80 in extension.

Alternative scenario
Above 111.10 look for further upside with 113.35 & 115.20 as targets.

Comment
As long as 111.10 is resistance, look for choppy price action with a bearish bias.

 

S&P 500 (CME)

may rise to 4510.00 – 4543.00

Pivot
4466.00

Our preference
Long positions above 4466.00 with targets at 4543.00 & 4560.00 in extension.

Alternative scenario
Below 4466.00 look for further downside with 4433.00 & 4415.00 as targets.

Comment
The RSI is bullish and calls for further upside.

 

Nasdaq 100 (CME)

may rise to 14815.00 – 14900.00

Pivot
14470.00

Our preference
Long positions above 14470.00 with targets at 14815.00 & 14900.00 in extension.

Alternative scenario
Below 14470.00 look for further downside with 14295.00 & 14180.00 as targets.

Comment
The next resistances are at 14815.00 and then at 14900.00.

 

Hang Seng (HKFE)

may rise to 22530.00 – 22800.00

Pivot
21635.00

Our preference
Long positions above 21635.00 with targets at 22530.00 & 22800.00 in extension.

Alternative scenario
Below 21635.00 look for further downside with 21380.00 & 21080.00 as targets.

Comment
The RSI is mixed with a bullish 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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