Doo Prime Daily Featured Trading Strategies – January 6, 2022 - Doo Prime News
Doo Prime News > Analysis > Daily Featured Trading Strategies > Doo Prime Daily Featured Trading Strategies – January 6, 2022
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1. Daily technical analysis of selected currency pairs



AUD/JPY Bullish

Image Features: forms “Hammer (Bullish)” pattern

Target
Opportunity recognized 2022 Jan 06 for the period of up to 12 hours
-0.093 (9.3 pips) price change since the Technical Event at 83.646

Technical Analysis

We found a pattern called Hammer on 2022 Jan 06 at 01:30 GMT on a 15 minute chart suggesting the outlook is bullish for up to 12 hours.

The price broke below the lower Bollinger Band on 2022 Jan 06 at 01:15 GMT, suggesting the price is over-extended and may reverse.

EUR/JPY Bearish

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

Target
Opportunity recognized 2022 Jan 05 for the period of up to 12 hours
-0.213 (21.3 pips) price change since the Technical Event at 131.381

Technical Analysis

We found a pattern called Engulfing Line (Bearish) on 2022 Jan 05 at 20:00 GMT on a 1 hour chart suggesting the outlook is bearish for up to 12 hours.

The price crossed below its moving average on 2022 Jan 06 at 02:00 GMT signaling a new downtrend has been established.

2. Daily Analyst’s View



EUR/USD

may fall 22 – 42 pips

Pivot
1.1330

Our preference
Short positions below 1.1330 with targets at 1.1290 & 1.1270 in extension.

Alternative scenario
Above 1.1330 look for further upside with 1.1345 & 1.1365 as targets.

Comment
The RSI calls for a drop.

GBP/USD

may fall 20 – 40 pips

Pivot
1.3580

Our preference
Short positions below 1.3580 with targets at 1.3535 & 1.3515 in extension.

Alternative scenario
Above 1.3580 look for further upside with 1.3600 & 1.3620 as targets.

Comment
The RSI is mixed with a bearish bias.

USD/CAD

may rise 23 – 53 pips

Pivot
1.2720

Our preference
Long positions above 1.2720 with targets at 1.2780 & 1.2810 in extension.

Alternative scenario
Below 1.2720 look for further downside with 1.2690 & 1.2665 as targets.

Comment
The RSI calls for a new upleg.

Gold

may fall to 1797.00 – 1805.00

Pivot
1819.00

Our preference
Short positions below 1819.00 with targets at 1805.00 & 1797.00 in extension.

Alternative scenario
Above 1819.00 look for further upside with 1825.00 & 1831.00 as targets.

Comment
The RSI is bearish and calls for further downside.

Crude Oil (WTI)

may fall to 75.85 – 76.60

Pivot
77.80

Our preference
Short positions below 77.80 with targets at 76.60 & 75.85 in extension.

Alternative scenario
Above 77.80 look for further upside with 78.40 & 79.20 as targets.

Comment
As long as 77.80 is resistance, likely decline to 76.60.

S&P 500 (CME)

may fall to 4628.00 – 4662.00

Pivot
4742.00

Our preference
Short positions below 4742.00 with targets at 4662.00 & 4628.00 in extension.

Alternative scenario
Above 4742.00 look for further upside with 4767.00 & 4787.00 as targets.

Comment
The RSI has broken down its 30 level.

Nasdaq 100 (CME)

may fall to 15510.00 – 15600.00

Pivot
15990.00

Our preference
Short positions below 15990.00 with targets at 15600.00 & 15510.00 in extension.

Alternative scenario
Above 15990.00 look for further upside with 16130.00 & 16280.00 as targets.

Comment
As long as 15990.00 is resistance, likely decline to 15600.00.

Hang Seng (HKFE)

may fall to 22730.00 – 22865.00

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Pivot
23200.00

Our preference
Short positions below 23200.00 with targets at 22865.00 & 22730.00 in extension.

Alternative scenario
Above 23200.00 look for further upside with 23320.00 & 23420.00 as targets.

Comment
As long as 23200.00 is resistance, expect a return to 22865.00.

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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