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Doo Prime Daily Featured Trading Strategies – August 2, 2021


Doo Prime Daily Featured Trading Strategies

1. Daily technical analysis of selected currency pairs



CAD/JPY Bullish

Image Features: forms “Hammer (Bullish)” pattern

Target
Opportunity recognized 2021 Aug 02 for the period of up to 12 hours
+0.019 (1.9 pips) price change since the Technical Event at 87.867

Technical Analysis

We found a pattern called Hammer on 2021 Aug 02 at 02:30 GMT on a 30 minute chart suggesting the outlook is bullish for up to 12 hours.

The price crossed above its moving average on 2021 Aug 02 at 03:00 GMT signaling a new uptrend has been established.

GBP/AUD Bullish

Image Features: forms “Upside Breakout (Bullish)” pattern

Target
Opportunity recognized 2021 Jul 29 for the period of up to 48 hours
+0.00059 (5.9 pips) price change since the Technical Event at 1.89149

Technical Analysis

We found a pattern called Upside Breakout on 2021 Jul 29 at 14:00 GMT on a 1 hour chart, providing a target price for up to 48 hours in the range of 1.90000 to 1.91000.

The price crossed above its moving average on 2021 Aug 01 at 22:00 GMT signaling a new uptrend has been established.

2. Daily Analyst’s View

EUR/USD

may fall 18 – 38 pips

Pivot
1.1885

Our preference
Short positions below 1.1885 with targets at 1.1850 & 1.1830 in extension.

Alternative scenario
Above 1.1885 look for further upside with 1.1910 & 1.1930 as targets.

Comment
As long as the resistance at 1.1885 is not surpassed, the risk of the break below 1.1850 remains high.

GBP/USD

may fall 16 – 36 pips

Pivot
1.3920

Our preference
Short positions below 1.3920 with targets at 1.3880 & 1.3860 in extension.

Alternative scenario
Above 1.3920 look for further upside with 1.3950 & 1.3980 as targets.

Comment
A break below 1.3880 would trigger a drop towards 1.3860.

USD/CAD

may rise 21 – 41 pips

Pivot
1.2440

Our preference
Long positions above 1.2440 with targets at 1.2490 & 1.2510 in extension.

Alternative scenario
Below 1.2440 look for further downside with 1.2420 & 1.2400 as targets.

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

Gold

may fall to 1794.00 – 1803.00

Pivot
1823.00

Our preference
Short positions below 1823.00 with targets at 1803.00 & 1794.00 in extension.

Alternative scenario
Above 1823.00 look for further upside with 1832.00 & 1842.00 as targets.

Comment
The RSI is bearish and calls for further decline.

Crude Oil (WTI)

may fall to 72.20 – 72.50

Pivot
73.60

Our preference
Short positions below 73.60 with targets at 72.50 & 72.20 in extension.

Alternative scenario
Above 73.60 look for further upside with 74.25 & 74.85 as targets.

Comment
As long as the resistance at 73.60 is not surpassed, the risk of the break below 72.50 remains high.

S&P 500 (CME)

may rise to 4422.00 – 4437.00

Pivot
4382.00

Our preference
Long positions above 4382.00 with targets at 4422.00 & 4437.00 in extension.

Alternative scenario
Below 4382.00 look for further downside with 4371.00 & 4355.00 as targets.

Comment
The RSI calls for a bounce.

Nasdaq 100 (CME)

may rise to 15080.00 – 15180.00

Pivot
14910.00

Our preference
Long positions above 14910.00 with targets at 15080.00 & 15180.00 in extension.

Alternative scenario
Below 14910.00 look for further downside with 14810.00 & 14730.00 as targets.

Comment
The RSI is bullish and calls for further advance.

Hang Seng (HKFE)

may rise to 26615.00 – 26800.00

Pivot
25680.00

Our preference
Long positions above 25680.00 with targets at 26615.00 & 26800.00 in extension.

Alternative scenario
Below 25680.00 look for further downside with 25250.00 & 24800.00 as targets.

Comment
The RSI is bullish and calls for further upside.

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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