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Doo Prime Daily Featured Trading Strategies – June 22, 2021


Doo Prime Daily Featured Trading Strategies

1. Daily technical analysis of selected currency pairs

GBP/EUR Bullish

Image Features: forms “Double Bottom” pattern

Target
Opportunity recognized 2021 Jun 21 for the period of up to 48 hours
+0.00335 (335 pips) price change since the Technical Event at 1.16490

Technical Analysis
We found a pattern called Double Bottom on 2021 Jun 21 at 10:00 GMT on a 1 hour chart, providing a target price for up to 48 hours in the range of 1.17000 to 1.18000.

The faster moving average crossed above the slower moving average on 2021 Jun 21 at 23:00 GMT, signaling a new uptrend has been established.

USD/DKK Bearish

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

Target
Opportunity recognized 2021 Jun 21 for the period of up to 48 hours
-0.01010 (101 pips) price change since the Technical Event at 6.25240

Technical Analysis
We found a pattern called Engulfing Line (Bearish) on 2021 Jun 21 at 09:00 GMT on a 4 hour chart suggesting the outlook is bearish for up to 48 hours.

The Williams %R indicator triggered a bearish signal on 2021 Jun 21 at 21:00 GMT, having fallen out of overbought (-20 level) and continued on to cross below the -50 level.

2. Daily Analyst’s View

EUR/USD

may rise 16 – 31 pips

Pivot
1.1900

Our preference
Long positions above 1.1900 with targets at 1.1925 & 1.1940 in extension.

Alternative scenario
Below 1.1900 look for further downside with 1.1880 & 1.1855 as targets.

Comment
A support base at 1.1900 has formed and has allowed for a temporary stabilisation.

GBP/USD

may rise 28 – 53 pips

Pivot
1.3900

Our preference
Long positions above 1.3900 with targets at 1.3945 & 1.3970 in extension.

Alternative scenario
Below 1.3900 look for further downside with 1.3870 & 1.3835 as targets.

Comment
Technically the RSI is above its neutrality area at 50.

USD/CAD

may fall 29 – 59 pips

Pivot
1.2400

Our preference
Short positions below 1.2400 with targets at 1.2345 & 1.2315 in extension.

Alternative scenario
Above 1.2400 look for further upside with 1.2435 & 1.2480 as targets.

Comment
As long as the resistance at 1.2400 is not surpassed, the risk of the break below 1.2345 remains high.

Gold

may rise to 1797.00 – 1810.00

Pivot
1773.00

Our preference
Long positions above 1773.00 with targets at 1797.00 & 1810.00 in extension.

Alternative scenario
Below 1773.00 look for further downside with 1760.00 & 1750.00 as targets.

Comment
The RSI calls for a new upleg.

Crude Oil (WTI)

may rise to 74.00 – 74.65

Pivot
72.05

Our preference
Long positions above 72.05 with targets at 74.00 & 74.65 in extension.

Alternative scenario
Below 72.05 look for further downside with 71.40 & 70.80 as targets.

Comment
The immediate trend remains up and the momentum is strong.

S&P 500 (CME)

may rise to 4240.00 – 4260.00

Pivot
4195.00

Our preference
Long positions above 4195.00 with targets at 4240.00 & 4260.00 in extension.

Alternative scenario
Below 4195.00 look for further downside with 4164.00 & 4128.00 as targets.

Comment
The next resistances are at 4240.00 and then at 4260.00.

Nasdaq 100 (CME)

may rise to 14205.00 – 14300.00

Pivot
14035.00

Our preference
Long positions above 14035.00 with targets at 14205.00 & 14300.00 in extension.

Alternative scenario
Below 14035.00 look for further downside with 13960.00 & 13855.00 as targets.

Comment
The RSI is above its neutrality area at 50%.

Hang Seng (HKFE)

may fall to 28090.00 – 28245.00

Pivot
28560.00

Our preference
Short positions below 28560.00 with targets at 28245.00 & 28090.00 in extension.

Alternative scenario
Above 28560.00 look for further upside with 28775.00 & 28925.00 as targets.

Comment
As long as 28560.00 is resistance, look for choppy price action with a bearish bias.

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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