Doo Prime Daily Featured Trading Strategies – January 8, 2021
- Daily technical analysis of selected currency pairs
GBP/CAD Bullish
Image Features: forms “Inside Bar (Bullish)” pattern
Target
Opportunity recognized 2021 Jan 08 for the period of up to 48 hours
-0.00038 (38 pips) price change since the Technical Event at 1.72031
Technical Analysis
We found a pattern called Inside Bar (Bullish) on 2021 Jan 08 at 01:00 GMT on a 4 hour chart suggesting the outlook is bullish for up to 48 hours.
The Williams %R indicator triggered a bullish signal on 2021 Jan 07 at 13:00 GMT, having risen up out of oversold (-80 level) and continued on to cross above the -50 level.
AUD/SGD Bullish
Image Features: forms “Megaphone Bottom” pattern
Target
Opportunity recognized 2021 Jan 07 for the period of up to 48 hours
+0.00210 (21 pips) price change since the Technical Event at 1.02652
Technical Analysis
We found a pattern called Megaphone Bottom on 2021 Jan 07 at 15:45 GMT on a 15 minute chart, providing a target price for up to 48 hours in the range of 1.03000 to 1.04000.
The price crossed above its moving average on 2021 Jan 07 at 15:15 GMT signaling a new uptrend has been established.
- Daily Analyst View
EUR/USD
may fall 31 – 61 pips
Pivot
1.2280
Our preference
Short positions below 1.2280 with targets at 1.2210 & 1.2180 in extension.
Alternative scenario
Above 1.2280 look for further upside with 1.2305 & 1.2325 as targets.
Comment
As long as 1.2280 is resistance, likely decline to 1.2210.
GBP/USD
may fall 17 – 47 pips
Pivot
1.3580
Our preference
Short positions below 1.3580 with targets at 1.3530 & 1.3500 in extension.
Alternative scenario
Above 1.3580 look for further upside with 1.3610 & 1.3635 as targets.
Comment
The RSI calls for a new downleg.
USD/CAD
may fall 22 – 57 pips
Pivot
1.2710
Our preference
Short positions below 1.2710 with targets at 1.2660 & 1.2625 in extension.
Alternative scenario
Above 1.2710 look for further upside with 1.2735 & 1.2775 as targets.
Comment
The RSI advocates for further decline.
Gold
may fall to 1890.00 – 1900.00
Pivot
1928.00
Our preference
Short positions below 1928.00 with targets at 1900.00 & 1890.00 in extension.
Alternative scenario
Above 1928.00 look for further upside with 1935.00 & 1946.00 as targets.
Comment
Intraday technical indicators are mixed.
Brent (ICE)
may rise to 54.90 – 55.65
Pivot
53.75
Our preference
Long positions above 53.75 with targets at 54.90 & 55.65 in extension.
Alternative scenario
Below 53.75 look for further downside with 53.00 & 52.45 as targets.
Comment
The RSI is mixed to bullish.
S&P 500 (CME)
may rise to 3828.00 – 3849.00
Pivot
3770.00
Our preference
Long positions above 3770.00 with targets at 3828.00 & 3849.00 in extension.
Alternative scenario
Below 3770.00 look for further downside with 3746.00 & 3718.00 as targets.
Comment
The RSI is bullish and calls for further upside.
Dax (Eurex)
may rise to 14125.00 – 14250.00
Pivot
13883.00
Our preference
Long positions above 13883.00 with targets at 14125.00 & 14250.00 in extension.
Alternative scenario
Below 13883.00 look for further downside with 13780.00 & 13715.00 as targets.
Comment
The RSI advocates for further upside.
SGX FTSE China A50
may rise to 19120.00 – 19320.00
Pivot
18600.00
Our preference
Long positions above 18600.00 with targets at 19120.00 & 19320.00 in extension.
Alternative scenario
Below 18600.00 look for further downside with 18380.00 & 18180.00 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.
