Doo Prime Daily Featured Trading Strategies – August 24, 2021 - Doo Prime News
Doo Prime News > Analysis > Daily Featured Trading Strategies > Doo Prime Daily Featured Trading Strategies – August 24, 2021
Doo Prime Daily Featured Trading Strategies

1. Daily technical analysis of selected currency pairs



EUR/JPY Bullish

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

Target
Opportunity recognized 2021 Aug 23 for the period of up to 2 weeks
-0.197 (19.7 pips) price change since the Technical Event at 128.947

Technical Analysis

We found a pattern called Megaphone Bottom on 2021 Aug 23 at 09:00 GMT on a 4 hour chart, providing a target price for up to 2 weeks in the range of 130.000 to 130.200.

On 2021 Aug 23 at 09:00 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.

CAD/CHF Bearish

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

Target
Opportunity recognized 2021 Aug 24 for the period of up to 12 hours
+0.00044 (4.4 pips) price change since the Technical Event at 0.72100

Technical Analysis

We found a pattern called Engulfing Line (Bearish) on 2021 Aug 24 at 02:15 GMT on a 15 minute chart suggesting the outlook is bearish for up to 12 hours.

A bearish event triggered for Slow Stochastics on 2021 Aug 24 at 02:30 GMT when the %K line crossed below the %D line. The close prices are trading closer to the lower end of the recent high-low price range, which is associated with price decreases.

2. Daily Analyst’s View

EUR/USD

may rise 16 – 31 pips

Pivot
1.1720

Our preference
Long positions above 1.1720 with targets at 1.1760 & 1.1775 in extension.

Alternative scenario
Below 1.1720 look for further downside with 1.1705 & 1.1690 as targets.

Comment
The RSI is bullish and calls for further upside.

GBP/USD

may rise 46 – 76 pips

Pivot
1.3680

Our preference
Long positions above 1.3680 with targets at 1.3770 & 1.3800 in extension.

Alternative scenario
Below 1.3680 look for further downside with 1.3655 & 1.3630 as targets.

Comment
The RSI advocates for further advance.

USD/CAD

may fall 42 – 72 pips

Pivot
1.2710

Our preference
Short positions below 1.2710 with targets at 1.2610 & 1.2580 in extension.

Alternative scenario
Above 1.2710 look for further upside with 1.2745 & 1.2780 as targets.

Comment
The RSI calls for a new downleg.

Gold

may rise to 1815.00 – 1823.00

Pivot
1794.00

Our preference
Long positions above 1794.00 with targets at 1815.00 & 1823.00 in extension.

Alternative scenario
Below 1794.00 look for further downside with 1789.00 & 1783.00 as targets.

Comment
The RSI is bullish and calls for further upside.

Crude Oil (WTI)

may rise to 66.50 – 67.20

Pivot
64.65

Our preference
Long positions above 64.65 with targets at 66.50 & 67.20 in extension.

Alternative scenario
Below 64.65 look for further downside with 63.85 & 63.15 as targets.

Comment
The RSI shows upside momentum.

S&P 500 (CME)

may rise to 4500.00 – 4525.00

Pivot
4465.00

Our preference
Long positions above 4465.00 with targets at 4500.00 & 4525.00 in extension.

Alternative scenario
Below 4465.00 look for further downside with 4445.00 & 4420.00 as targets.

Comment
The next resistances are at 4500.00 and then at 4525.00.

Nasdaq 100 (CME)

may rise to 15465.00 – 15550.00

Pivot
15200.00

Our preference
Long positions above 15200.00 with targets at 15465.00 & 15550.00 in extension.

Alternative scenario
Below 15200.00 look for further downside with 15120.00 & 15000.00 as targets.

Comment
The RSI shows upside momentum.

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 shows upside momentum.

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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