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Doo Prime Daily Featured Trading Strategies – August 4, 2021


Doo Prime Daily Featured Trading Strategies

1. Daily technical analysis of selected currency pairs



AUD/JPY Bullish

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

Target
Opportunity recognized 2021 Aug 04 for the period of up to 12 hours
+0.169 (16.9 pips) price change since the Technical Event at 80.581

Technical Analysis

We found a pattern called Engulfing Line (Bullish) on 2021 Aug 04 at 01:30 GMT on a 15 minute chart suggesting the outlook is bullish for up to 12 hours.

On 2021 Aug 04 at 02:45 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.

GBP/CAD Bullish

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

Target
Opportunity recognized 2021 Aug 02 for the period of up to 2 weeks
+0.00690 (69 pips) price change since the Technical Event at 1.73662

Technical Analysis

We found a pattern called Double Bottom on 2021 Aug 02 at 17:00 GMT on a 1 hour chart, providing a target price for up to 2 weeks in the range of 1.74000 to 1.75000.

The price crossed above its moving average on 2021 Aug 02 at 22:00 GMT signaling a new uptrend has been established.

2. Daily Analyst’s View

EUR/USD

may rise 7 – 22 pips

Pivot
1.1860

Our preference
Long positions above 1.1860 with targets at 1.1880 & 1.1895 in extension.

Alternative scenario
Below 1.1860 look for further downside with 1.1850 & 1.1840 as targets.

Comment
The RSI has just landed on its neutrality area at 50% and is turning up.

GBP/USD

may rise 12 – 37 pips

Pivot
1.3900

Our preference
Long positions above 1.3900 with targets at 1.3940 & 1.3965 in extension.

Alternative scenario
Below 1.3900 look for further downside with 1.3880 & 1.3860 as targets.

Comment
The RSI advocates for further advance.

USD/CAD

may fall 20 – 45 pips

Pivot
1.2550

Our preference
Short positions below 1.2550 with targets at 1.2500 & 1.2475 in extension.

Alternative scenario
Above 1.2550 look for further upside with 1.2575 & 1.2600 as targets.

Comment
The RSI calls for a new downleg.

Gold

may rise to 1819.00 – 1826.00

Pivot
1805.00

Our preference
Long positions above 1805.00 with targets at 1819.00 & 1826.00 in extension.

Alternative scenario
Below 1805.00 look for further downside with 1800.00 & 1792.00 as targets.

Comment
The RSI is bullish and calls for further advance.

Crude Oil (WTI)

may fall to 69.20 – 69.80

Pivot
70.95

Our preference
Short positions below 70.95 with targets at 69.80 & 69.20 in extension.

Alternative scenario
Above 70.95 look for further upside with 71.50 & 71.95 as targets.

Comment
The RSI has just struck against its neutrality area at 50% and is reversing down.

S&P 500 (CME)

may rise to 4424.00 – 4438.00

Pivot
4395.00

Our preference
Long positions above 4395.00 with targets at 4424.00 & 4438.00 in extension.

Alternative scenario
Below 4395.00 look for further downside with 4382.00 & 4365.00 as targets.

Comment
The RSI is mixed with a bullish bias.

Nasdaq 100 (CME)

may rise to 15150.00 – 15220.00

Pivot
14940.00

Our preference
Long positions above 14940.00 with targets at 15150.00 & 15220.00 in extension.

Alternative scenario
Below 14940.00 look for further downside with 14850.00 & 14775.00 as targets.

Comment
The RSI is mixed to bullish.

Hang Seng (HKFE)

may rise to 26615.00 – 27000.00

Pivot
26100.00

Our preference
Long positions above 26100.00 with targets at 26615.00 & 27000.00 in extension.

Alternative scenario
Below 26100.00 look for further downside with 25920.00 & 25700.00 as targets.

Comment
The RSI advocates 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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