Doo Prime Daily Featured Trading Strategies – August 26, 2021 - Doo Prime News
Doo Prime News > Analysis > Daily Featured Trading Strategies > Doo Prime Daily Featured Trading Strategies – August 26, 2021
Doo Prime Daily Featured Trading Strategies

1. Daily technical analysis of selected currency pairs



SGD/JPY Bearish

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

Target
Opportunity recognized 2021 Aug 26 for the period of up to 12 hours
-0.089 (8.9 pips) price change since the Technical Event at 81.291

Technical Analysis

We found a pattern called Inside Bar (Bearish) on 2021 Aug 26 at 03:00 GMT on a 1 hour chart suggesting the outlook is bearish for up to 12 hours.

The Momentum oscillator crossed below 0 on 2021 Aug 26 at 03:00 GMT, thereby signaling a new accelerating downtrend.

GBP/EUR Bearish

Image Features: forms “Hanging Man (Bearish)” pattern

Target
Opportunity recognized 2021 Aug 26 for the period of up to 12 hours
-0.00049 (4.9 pips) price change since the Technical Event at 1.16929

Technical Analysis

We found a pattern called Hanging Man on 2021 Aug 26 at 01:30 GMT on a 30 minute chart suggesting the outlook is bearish for up to 12 hours.

The price crossed below its moving average on 2021 Aug 26 at 03:30 GMT signaling a new downtrend has been established.

2. Daily Analyst’s View

EUR/USD

may rise 13 – 28 pips

Pivot
1.1750

Our preference
Long positions above 1.1750 with targets at 1.1775 & 1.1790 in extension.

Alternative scenario
Below 1.1750 look for further downside with 1.1735 & 1.1725 as targets.

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

GBP/USD

may rise 18 – 33 pips

Pivot
1.3735

Our preference
Long positions above 1.3735 with targets at 1.3770 & 1.3785 in extension.

Alternative scenario
Below 1.3735 look for further downside with 1.3715 & 1.3695 as targets.

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

USD/CAD

may rise 23 – 53 pips

Pivot
1.2580

Our preference
Long positions above 1.2580 with targets at 1.2635 & 1.2665 in extension.

Alternative scenario
Below 1.2580 look for further downside with 1.2550 & 1.2520 as targets.

Comment
The RSI calls for a rebound.

Gold

may fall to 1775.00 – 1782.00

Pivot
1798.00

Our preference
Short positions below 1798.00 with targets at 1782.00 & 1775.00 in extension.

Alternative scenario
Above 1798.00 look for further upside with 1804.00 & 1810.00 as targets.

Comment
As long as the resistance at 1798.00 is not surpassed, the risk of the break below 1782.00 remains high.

Crude Oil (WTI)

may rise to 69.00 – 69.85

Pivot
67.15

Our preference
Long positions above 67.15 with targets at 69.00 & 69.85 in extension.

Alternative scenario
Below 67.15 look for further downside with 66.30 & 65.70 as targets.

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

S&P 500 (CME)

may rise to 4508.00 – 4525.00

Pivot
4475.00

Our preference
Long positions above 4475.00 with targets at 4508.00 & 4525.00 in extension.

Alternative scenario
Below 4475.00 look for further downside with 4454.00 & 4428.00 as targets.

Comment
A support base at 4475.00 has formed and has allowed for a temporary stabilisation.

Nasdaq 100 (CME)

may rise to 15395.00 – 15465.00

Pivot
15300.00

Our preference
Long positions above 15300.00 with targets at 15395.00 & 15465.00 in extension.

Alternative scenario
Below 15300.00 look for further downside with 15200.00 & 15120.00 as targets.

Comment
The RSI is mixed to bullish.

Hang Seng (HKFE)

may fall to 25020.00 – 25240.00

Pivot
25680.00

Our preference
Short positions below 25680.00 with targets at 25240.00 & 25020.00 in extension.

Alternative scenario
Above 25680.00 look for further upside with 25950.00 & 26200.00 as targets.

Comment
As long as the resistance at 25680.00 is not surpassed, the risk of the break below 25240.00 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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