Doo Prime Daily Featured Trading Strategies – August 23, 2021 - Doo Prime News
Doo Prime News > Analysis > Daily Featured Trading Strategies > Doo Prime Daily Featured Trading Strategies – August 23, 2021
Doo Prime Daily Featured Trading Strategies

1. Daily technical analysis of selected currency pairs



GBP/JPY Bullish

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

Target
Opportunity recognized 2021 Aug 23 for the period of up to 48 hours
+0.105 (10.5 pips) price change since the Technical Event at 149.792

Technical Analysis

We found a pattern called Double Bottom on 2021 Aug 23 at 01:00 GMT on a 1 hour chart, providing a target price for up to 48 hours in the range of 150.400 to 150.500.

The price crossed above its moving average on 2021 Aug 23 at 01:00 GMT signaling a new uptrend has been established.

AUD/CAD Bearish

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

Target
Opportunity recognized 2021 Aug 23 for the period of up to 12 hours
+0.00024 (2.4 pips) price change since the Technical Event at 0.91506

Technical Analysis

We found a pattern called Engulfing Line (Bearish) on 2021 Aug 23 at 01:00 GMT on a 15 minute chart suggesting the outlook is bearish for up to 12 hours.

The CCI triggered a bearish signal on 2021 Aug 23 at 03:15 GMT by crossing below the -100% level.

2. Daily Analyst’s View

EUR/USD

may rise 20 – 35 pips

Pivot
1.1675

Our preference
Long positions above 1.1675 with targets at 1.1715 & 1.1730 in extension.

Alternative scenario
Below 1.1675 look for further downside with 1.1660 & 1.1645 as targets.

Comment
The RSI advocates for further upside.

GBP/USD

may rise 21 – 46 pips

Pivot
1.3600

Our preference
Long positions above 1.3600 with targets at 1.3645 & 1.3670 in extension.

Alternative scenario
Below 1.3600 look for further downside with 1.3580 & 1.3560 as targets.

Comment
A support base at 1.3600 has formed and has allowed for a temporary stabilisation.

USD/CAD

may fall 51 – 91 pips

Pivot
1.2880

Our preference
Short positions below 1.2880 with targets at 1.2770 & 1.2730 in extension.

Alternative scenario
Above 1.2880 look for further upside with 1.2915 & 1.2950 as targets.

Comment
The RSI is bearish and calls for further downside.

Gold

may rise to 1795.00 – 1800.00

Pivot
1779.00

Our preference
Long positions above 1779.00 with targets at 1795.00 & 1800.00 in extension.

Alternative scenario
Below 1779.00 look for further downside with 1773.00 & 1767.00 as targets.

Comment
The RSI calls for a new upleg.

Crude Oil (WTI)

may fall to 60.70 – 61.75

Pivot
63.25

Our preference
Short positions below 63.25 with targets at 61.75 & 60.70 in extension.

Alternative scenario
Above 63.25 look for further upside with 64.00 & 64.50 as targets.

Comment
The RSI is mixed and calls for caution.

S&P 500 (CME)

may rise to 4456.00 – 4476.00

Pivot
4414.00

Our preference
Long positions above 4414.00 with targets at 4456.00 & 4476.00 in extension.

Alternative scenario
Below 4414.00 look for further downside with 4398.00 & 4372.00 as targets.

Comment
The RSI is bullish and calls for further advance.

Nasdaq 100 (CME)

may rise to 15170.00 – 15300.00

Pivot
15000.00

Our preference
Long positions above 15000.00 with targets at 15170.00 & 15300.00 in extension.

Alternative scenario
Below 15000.00 look for further downside with 14925.00 & 14850.00 as targets.

Comment
The RSI is bullish and calls for further upside.

Hang Seng (HKFE)

may rise to 25550.00 – 25870.00

Pivot
24940.00

Our preference
Long positions above 24940.00 with targets at 25550.00 & 25870.00 in extension.

Alternative scenario
Below 24940.00 look for further downside with 24550.00 & 24300.00 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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