Doo Prime Daily Featured Trading Strategies – January 13, 2021

2021-01-13

Doo Prime Daily Featured Trading Strategies – January 12, 2021 

  1. Daily technical analysis of selected currency pairs 

GBP/AUD   Bearish 

Image Features: forms “Engulfing Line (Bearish)” pattern

Target  

Opportunity recognized 2021 Jan 12 for the period of up to 48 hours

+0.00527 (527 pips) price change since the Technical Event at 1.75753

Technical Analysis  

We found a pattern called Engulfing Line (Bearish) on 2021 Jan 12 at 21:00 GMT on a 4 hour chart suggesting the outlook is bearish for up to 48 hours.

A bearish event triggered for Fast Stochastics on 2021 Jan 13 at 01:00 GMT when the %K line crossed below the %D line. The close prices are trading closer to the lower end of the recent high-low price range, which is associated with price decreases

 

GBP/NZD Bearish 

Image Features:  forms “Engulfing Line (Bearish)” pattern

Target  

Opportunity recognized 2021 Jan 12 for the period of up to 48 hours

+0.00219 (219 pips) price change since the Technical Event at 1.89081

Technical Analysis  

We found a pattern called Engulfing Line (Bearish) on 2021 Jan 12 at 21:00 GMT on a 4 hour chart suggesting the outlook is bearish for up to 48 hours.

The RSI fallen below 70 on 2021 Jan 12 at 21:00 GMT, telling us the price is starting to pull back from being overbought.

 

  1. Daily Analyst View

EUR/USD  

may rise 11 – 46 pips

Pivot

1.2180

Our preference

Long positions above 1.2180 with targets at 1.2230 & 1.2265 in extension.

Alternative scenario

Below 1.2180 look for further downside with 1.2160 & 1.2135 as targets.

Comment

The break above 1.2180 is a positive signal that has opened a path to 1.2230.

GBP/USD  

may rise 42 – 77 pips

Pivot

1.3635

Our preference

Long positions above 1.3635 with targets at 1.3735 & 1.3770 in extension.

Alternative scenario

Below 1.3635 look for further downside with 1.3600 & 1.3570 as targets.

Comment

The RSI is bullish and calls for further advance.

 

USD/CAD  

may fall 27 – 57 pips

Pivot

1.2755

Our preference

Short positions below 1.2755 with targets at 1.2685 & 1.2655 in extension.

Alternative scenario

Above 1.2755 look for further upside with 1.2790 & 1.2820 as targets.

Comment

The RSI calls for a new downleg.

Gold

may rise to 1877.00 – 1894.00

Pivot

1845.00

Our preference

Long positions above 1845.00 with targets at 1877.00 & 1894.00 in extension.

Alternative scenario

Below 1845.00 look for further downside with 1829.00 & 1816.00 as targets.

Comment

The RSI is mixed with a bullish bias.

 

Brent (ICE)  

may rise to 57.80 – 58.20

Pivot

56.60

Our preference

Long positions above 56.60 with targets at 57.80 & 58.20 in extension.

Alternative scenario

Below 56.60 look for further downside with 56.00 & 55.50 as targets.

Comment

The RSI is bullish and calls for further advance.

 

S&P 500 (CME)  

 may fall to 3748.00 – 3768.00

Pivot

3824.00

Our preference

Short positions below 3824.00 with targets at 3768.00 & 3748.00 in extension.

Alternative scenario

Above 3824.00 look for further upside with 3838.00 & 3849.00 as targets.

Comment

Intraday technical indicators are mixed.

 

Dax (Eurex)  

may fall to 13790.00 – 13830.00

Pivot

13990.00

Our preference

Short positions below 13990.00 with targets at 13830.00 & 13790.00 in extension.

Alternative scenario

Above 13990.00 look for further upside with 14085.00 & 14120.00 as targets.

Comment

The RSI is mixed with a bearish bias.

 

SGX FTSE China A50  

may rise to 19110.00 – 19330.00

Pivot

18755.00

Our preference

Long positions above 18755.00 with targets at 19110.00 & 19330.00 in extension.

Alternative scenario

Below 18755.00 look for further downside with 18575.00 & 18335.00 as targets.

Comment

The RSI advocates for further advance.

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.

Service UpdatesIconBrandElement

article-thumbnail

2025-02-13 | Trading Hours

Adjusted Trading Hours for Presidents’ Day 

We wish to inform you of adjusted trading hours due to the upcoming Presidents’ Day in the US on February 17,2025.

article-thumbnail

2025-02-13 | Product Updates

Upcoming Margin Adjustments for US Stock CFDs 

We would like to inform you of an upcoming adjustment to the margin requirements for several US stock CFDs.  

article-thumbnail

2025-02-12 | System Maintenance

MT4 Live 3 Update: Order Compression 

As part of our ongoing efforts to enhance your trading experience, we will be performing scheduled maintenance on the MT4 Live 3 server on 15.02.2025

Service UpdatesIconBrandElement

MT4 Live 3 Update: Order Compression 

2025-02-12 | System Maintenance