Doo Prime Daily Featured Trading Strategies – August 18, 2021 - Doo Prime News
Doo Prime News > Analysis > Daily Featured Trading Strategies > Doo Prime Daily Featured Trading Strategies – August 18, 2021
Doo Prime Daily Featured Trading Strategies

1. Daily technical analysis of selected currency pairs



AUD/JPY Bullish
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Image Features: forms “Hammer (Bullish)” pattern

Target
Opportunity recognized 2021 Aug 18 for the period of up to 12 hours
+0.046 (4.6 pips) price change since the Technical Event at 79.449

Technical Analysis

We found a pattern called Hammer on 2021 Aug 18 at 01:15 GMT on a 15 minute chart suggesting the outlook is bullish for up to 12 hours.

On 2021 Aug 18 at 03:15 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.

GBP/EUR Bullish

Image Features: forms “Triple Bottom (Bullish)” pattern

Target
Opportunity recognized 2021 Aug 17 for the period of up to 48 hours
+0.00004 (04 pips) price change since the Technical Event at 1.17356

Technical Analysis

We found a pattern called Triple Bottom on 2021 Aug 17 at 23:00 GMT on a 30 minute chart, providing a target price for up to 48 hours in the range of 1.18000 to 1.19000.

The faster moving average crossed above the slower moving average on 2021 Aug 18 at 02:30 GMT, signaling a new uptrend has been established.

2. Daily Analyst’s View

EUR/USD

may fall 18 – 38 pips

Pivot
1.1740

Our preference
Short positions below 1.1740 with targets at 1.1700 & 1.1680 in extension.

Alternative scenario
Above 1.1740 look for further upside with 1.1760 & 1.1780 as targets.

Comment
As long as the resistance at 1.1740 is not surpassed, the risk of the break below 1.1700 remains high.

GBP/USD

may fall 29 – 54 pips

Pivot
1.3780

Our preference
Short positions below 1.3780 with targets at 1.3725 & 1.3700 in extension.

Alternative scenario
Above 1.3780 look for further upside with 1.3800 & 1.3825 as targets.

Comment
As long as the resistance at 1.3780 is not surpassed, the risk of the break below 1.3725 remains high.

USD/CAD

may fall 16 – 41 pips

Pivot
1.2645

Our preference
Short positions below 1.2645 with targets at 1.2595 & 1.2570 in extension.

Alternative scenario
Above 1.2645 look for further upside with 1.2670 & 1.2690 as targets.

Comment
The RSI calls for a new downleg.

Gold

may rise to 1795.00 – 1805.00

Pivot
1780.00

Our preference
Long positions above 1780.00 with targets at 1795.00 & 1805.00 in extension.

Alternative scenario
Below 1780.00 look for further downside with 1770.00 & 1762.00 as targets.

Comment
The RSI is bullish and calls for further advance.

Crude Oil (WTI)

may fall to 65.20 – 65.70

Pivot
67.55

Our preference
Short positions below 67.55 with targets at 65.70 & 65.20 in extension.

Alternative scenario
Above 67.55 look for further upside with 68.15 & 68.65 as targets.

Comment
The RSI is bearish and calls for further downside.

S&P 500 (CME)

may rise to 4453.00 – 4459.00

Pivot
4424.00

Our preference
Long positions above 4424.00 with targets at 4453.00 & 4459.00 in extension.

Alternative scenario
Below 4424.00 look for further downside with 4414.00 & 4407.00 as targets.

Comment
The RSI is mixed with a bullish bias.

Nasdaq 100 (CME)

may rise to 15060.00 – 15090.00

Pivot
14950.00

Our preference
Long positions above 14950.00 with targets at 15060.00 & 15090.00 in extension.

Alternative scenario
Below 14950.00 look for further downside with 14895.00 & 14850.00 as targets.

Comment
The RSI is mixed to bullish.

Hang Seng (HKFE)

may rise to 25970.00 – 26100.00

Pivot
25650.00

Our preference
Long positions above 25650.00 with targets at 25970.00 & 26100.00 in extension.

Alternative scenario
Below 25650.00 look for further downside with 25550.00 & 25440.00 as targets.

Comment
The RSI is bullish and calls 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.

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