Doo Prime Daily Featured Trading Strategies – August 20, 2021 - Doo Prime News
Doo Prime News > Analysis > Daily Featured Trading Strategies > Doo Prime Daily Featured Trading Strategies – August 20, 2021
Doo Prime Daily Featured Trading Strategies

1. Daily technical analysis of selected currency pairs



EUR/JPY Bullish

Image Features: forms “Inverted Hammer (Bullish)” pattern

Target
Opportunity recognized 2021 Aug 20 for the period of up to 12 hours
+0.027 (2.7 pips) price change since the Technical Event at 128.110

Technical Analysis

We found a pattern called Inverted Hammer on 2021 Aug 20 at 02:15 GMT on a 15 minute chart suggesting the outlook is bullish for up to 12 hours.

The price crossed above its moving average on 2021 Aug 20 at 03:15 GMT signaling a new uptrend has been established.

USD/AUD Bearish

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

Target
Opportunity recognized 2021 Aug 20 for the period of up to 12 hours
-0.00208 (20.8 pips) price change since the Technical Event at 1.40188

Technical Analysis

We found a pattern called Inside Bar (Bearish) on 2021 Aug 20 at 03:00 GMT on a 1 hour chart suggesting the outlook is bearish for up to 12 hours.

The RSI fallen below 70 on 2021 Aug 20 at 01:00 GMT, telling us the price is starting to pull back from being overbought.

2. Daily Analyst’s View

EUR/USD

may fall 18 – 38 pips

Pivot
1.1700

Our preference
Short positions below 1.1700 with targets at 1.1660 & 1.1640 in extension.

Alternative scenario
Above 1.1700 look for further upside with 1.1720 & 1.1740 as targets.

Comment
As long as the resistance at 1.1700 is not surpassed, the risk of the break below 1.1660 remains high.

GBP/USD

may fall 23 – 53 pips

Pivot
1.3665

Our preference
Short positions below 1.3665 with targets at 1.3600 & 1.3570 in extension.

Alternative scenario
Above 1.3665 look for further upside with 1.3700 & 1.3730 as targets.

Comment
The RSI lacks upward momentum.

USD/CAD

may rise 39 – 69 pips

Pivot
1.2775

Our preference
Long positions above 1.2775 with targets at 1.2870 & 1.2900 in extension.

Alternative scenario
Below 1.2775 look for further downside with 1.2740 & 1.2710 as targets.

Comment
The immediate trend remains up and the momentum is strong.

Gold

may fall to 1764.00 – 1773.00

Pivot
1790.00

Our preference
Short positions below 1790.00 with targets at 1773.00 & 1764.00 in extension.

Alternative scenario
Above 1790.00 look for further upside with 1795.00 & 1800.00 as targets.

Comment
As long as the resistance at 1790.00 is not surpassed, the risk of the break below 1773.00 remains high.

Crude Oil (WTI)

may rise to 64.50 – 65.00

Pivot
63.00

Our preference
Long positions above 63.00 with targets at 64.50 & 65.00 in extension.

Alternative scenario
Below 63.00 look for further downside with 62.40 & 62.00 as targets.

Comment
The RSI is mixed with a bullish bias.

S&P 500 (CME)

may rise to 4418.00 – 4448.00

Pivot
4378.00

Our preference
Long positions above 4378.00 with targets at 4418.00 & 4448.00 in extension.

Alternative scenario
Below 4378.00 look for further downside with 4364.00 & 4348.00 as targets.

Comment
Technically the RSI is above its neutrality area at 50.

Nasdaq 100 (CME)

may rise to 15035.00 – 15100.00

Pivot
14860.00

Our preference
Long positions above 14860.00 with targets at 15035.00 & 15100.00 in extension.

Alternative scenario
Below 14860.00 look for further downside with 14800.00 & 14710.00 as targets.

Comment
The RSI advocates for further upside.

Hang Seng (HKFE)

may fall to 24900.00 – 25125.00

Pivot
25425.00

Our preference
Short positions below 25425.00 with targets at 25125.00 & 24900.00 in extension.

Alternative scenario
Above 25425.00 look for further upside with 25550.00 & 25720.00 as targets.

Comment
As long as the resistance at 25425.00 is not surpassed, the risk of the break below 25125.00 remains high.

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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