Doo Prime Daily Featured Trading Strategies – January 4, 2022 - Doo Prime News
Doo Prime News > Analysis > Daily Featured Trading Strategies > Doo Prime Daily Featured Trading Strategies – January 4, 2022
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1. Daily technical analysis of selected currency pairs



AUD/JPY Bullish

Image Features: forms “Flag (Bullish)” pattern

Target
Opportunity recognized 2022 Jan 03 for the period of up to 12 hours
+0.223 (22.3 pips) price change since the Technical Event at 82.925

Technical Analysis

We found a pattern called Flag (Bullish) on 2022 Jan 03 at 23:30 GMT on a 30 minute chart, providing a target price for up to 12 hours in the range of 83.100 to 83.140.

On 2022 Jan 04 at 01:00 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/JPY Bullish

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

Target
Opportunity recognized 2021 Dec 31 for the period of up to 2 weeks
+0.209 (20.9 pips) price change since the Technical Event at 90.365

Technical Analysis

We found a pattern called Megaphone Bottom on 2021 Dec 31 at 09:00 GMT on a 4 hour chart, providing a target price for up to 2 weeks in the range of 93.000 to 93.600.

The faster moving average crossed above the slower moving average on 2021 Dec 31 at 13:00 GMT, signaling a new uptrend has been established.

2. Daily Analyst’s View



EUR/USD

may fall 22 – 37 pips

Pivot
1.1320

Our preference
Short positions below 1.1320 with targets at 1.1275 & 1.1260 in extension.

Alternative scenario
Above 1.1320 look for further upside with 1.1335 & 1.1350 as targets.

Comment
The RSI calls for a new downleg.

GBP/USD

may fall 33 – 53 pips

Pivot
1.3510

Our preference
Short positions below 1.3510 with targets at 1.3450 & 1.3430 in extension.

Alternative scenario
Above 1.3510 look for further upside with 1.3530 & 1.3550 as targets.

Comment
As long as 1.3510 is resistance, look for choppy price action with a bearish bias.

USD/CAD

may rise 34 – 54 pips

Pivot
1.2710

Our preference
Long positions above 1.2710 with targets at 1.2780 & 1.2800 in extension.

Alternative scenario
Below 1.2710 look for further downside with 1.2690 & 1.2670 as targets.

Comment
The RSI advocates for further upside.

Gold

may fall to 1788.00 – 1795.00

Pivot
1813.00

Our preference
Short positions below 1813.00 with targets at 1795.00 & 1788.00 in extension.

Alternative scenario
Above 1813.00 look for further upside with 1820.00 & 1827.00 as targets.

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

Crude Oil (WTI)

may rise to 76.60 – 76.95

Pivot
75.45

Our preference
Long positions above 75.45 with targets at 76.60 & 76.95 in extension.

Alternative scenario
Below 75.45 look for further downside with 74.95 & 74.25 as targets.

Comment
The RSI is mixed to bullish.

S&P 500 (CME)

may rise to 4791.00 – 4800.00

Pivot
4771.00

Our preference
Long positions above 4771.00 with targets at 4791.00 & 4800.00 in extension.

Alternative scenario
Below 4771.00 look for further downside with 4758.00 & 4748.00 as targets.

Comment
The RSI is bullish and calls for further upside.

Nasdaq 100 (CME)

may rise to 16560.00 – 16650.00

Pivot
16390.00

Our preference
Long positions above 16390.00 with targets at 16560.00 & 16650.00 in extension.

Alternative scenario
Below 16390.00 look for further downside with 16315.00 & 16280.00 as targets.

Comment
The RSI is bullish and calls for further advance.

Hang Seng (HKFE)

may fall to 22930.00 – 23150.00

Pivot
23420.00

Our preference
Short positions below 23420.00 with targets at 23150.00 & 22930.00 in extension.

Alternative scenario
Above 23420.00 look for further upside with 23600.00 & 23700.00 as targets.

Comment
The upward potential is likely to be limited by the resistance at 23420.00.

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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