Doo Prime Daily Featured Trading Strategies – November 1, 2021 - Doo Prime News
Doo Prime News > Analysis > Daily Featured Trading Strategies > Doo Prime Daily Featured Trading Strategies – November 1, 2021
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1. Daily technical analysis of selected currency pairs



AUD/JPY Bullish

Image Features: forms “Continuation Diamond (Bullish)” pattern

Target
Opportunity recognized 2021 Jun 10 for the period of up to 2 weeks
+0.797 (79.7 pips) price change since the Technical Event at 84.923

Technical Analysis

We found a pattern called Continuation Diamond (Bullish) on 2021 Jun 10 at 13:00 GMT on a 4 hour chart, providing a target price for up to 2 weeks in the range of 88.100 to 88.800.

The price crossed above its moving average on 2021 Oct 30 at 01:00 GMT signaling a new uptrend has been established.

GBP/CAD Bullish

Image Features: forms “Hammer (Bullish)” pattern

Target
Opportunity recognized 2021 Nov 01 for the period of up to 12 hours
-0.00062 (6.2 pips) price change since the Technical Event at 1.69401

Technical Analysis

We found a pattern called Hammer on 2021 Nov 01 at 00:30 GMT on a 30 minute chart suggesting the outlook is bullish for up to 12 hours.

On 2021 Nov 01 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.

2. Daily Analyst’s View



EUR/USD

may fall to 1.1410 – 1.1490

Pivot
1.1690

Our preference
Short positions below 1.1690 with targets at 1.1490 & 1.1410 in extension.

Alternative scenario
Above 1.1690 look for further upside with 1.1775 & 1.1910 as targets.

Comment
The RSI calls for a new downleg.

GBP/USD

may rise to 1.3885 – 1.3985

Pivot
1.3530

Our preference
Long positions above 1.3530 with targets at 1.3885 & 1.3985 in extension.

Alternative scenario
Below 1.3530 look for further downside with 1.3410 & 1.3300 as targets.

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

USD/CAD

may fall to 1.2075 – 1.2180

Pivot
1.2610

Our preference
Short positions below 1.2610 with targets at 1.2180 & 1.2075 in extension.

Alternative scenario
Above 1.2610 look for further upside with 1.2770 & 1.2895 as targets.

Comment
The RSI advocates for further decline.

Gold

may fall to 1762.00 – 1771.00

Pivot
1788.00

Our preference
Short positions below 1788.00 with targets at 1771.00 & 1762.00 in extension.

Alternative scenario
Above 1788.00 look for further upside with 1798.00 & 1810.00 as targets.

Comment
The RSI is mixed with a bearish bias.

Crude Oil (WTI)

may fall to 81.60 – 82.45

Pivot
83.75

Our preference
Short positions below 83.75 with targets at 82.45 & 81.60 in extension.

Alternative scenario
Above 83.75 look for further upside with 84.25 & 84.90 as targets.

Comment
As long as 83.75 is resistance, look for choppy price action with a bearish bias.

S&P 500 (CME)

may rise to 4630.00 – 4650.00

Pivot
4580.00

Our preference
Long positions above 4580.00 with targets at 4630.00 & 4650.00 in extension.

Alternative scenario
Below 4580.00 look for further downside with 4559.00 & 4544.00 as targets.

Comment
The next resistances are at 4630.00 and then at 4650.00.

Nasdaq 100 (CME)

may rise to 15950.00 – 16050.00

Pivot
15760.00

Our preference
Long positions above 15760.00 with targets at 15950.00 & 16050.00 in extension.

Alternative scenario
Below 15760.00 look for further downside with 15690.00 & 15600.00 as targets.

Comment
The RSI is bullish and calls for further upside.

Hang Seng (HKFE)

may fall to 24970.00 – 25070.00

Pivot
25315.00

Our preference
Short positions below 25315.00 with targets at 25070.00 & 24970.00 in extension.

Alternative scenario
Above 25315.00 look for further upside with 25480.00 & 25620.00 as targets.

Comment
The RSI is mixed to bearish.

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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