Doo Prime Daily Featured Trading Strategies – October 18, 2021 - Doo Prime News
Doo Prime News > Analysis > Daily Featured Trading Strategies > Doo Prime Daily Featured Trading Strategies – October 18, 2021
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1. Daily technical analysis of selected currency pairs



EUR/GBP Bullish

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

Target
Opportunity recognized 2021 Oct 18 for the period of up to 12 hours
+0.00024 (2.4 pips) price change since the Technical Event at 0.84339

Technical Analysis

We found a pattern called Double Bottom on 2021 Oct 18 at 01:45 GMT on a 15 minute chart, providing a target price for up to 12 hours in the range of 0.84000 to 0.85000.

The faster moving average crossed above the slower moving average on 2021 Oct 18 at 02:00 GMT, signaling a new uptrend has been established.

AUD/JPY Bearish

Image Features: forms “Hanging Man (Bearish)” pattern

Target
Opportunity recognized 2021 Oct 18 for the period of up to 12 hours
+0.005 (0.5 pips) price change since the Technical Event at 84.663

Technical Analysis

We found a pattern called Hanging Man on 2021 Oct 18 at 03:15 GMT on a 15 minute chart suggesting the outlook is bearish for up to 12 hours.

The CCI triggered a bearish signal on 2021 Oct 18 at 02:00 GMT by crossing below the -100% level.

2. Daily Analyst’s View



EUR/USD

may fall 15 – 30 pips

Pivot
1.1605

Our preference
Short positions below 1.1605 with targets at 1.1570 & 1.1555 in extension.

Alternative scenario
Above 1.1605 look for further upside with 1.1620 & 1.1635 as targets.

Comment
The RSI is bearish and calls for further decline.

GBP/USD

may fall 20 – 40 pips

Pivot
1.3750

Our preference
Short positions below 1.3750 with targets at 1.3710 & 1.3690 in extension.

Alternative scenario
Above 1.3750 look for further upside with 1.3770 & 1.3790 as targets.

Comment
The RSI advocates for further downside.

USD/CAD

may rise 20 – 40 pips

Pivot
1.2360

Our preference
Long positions above 1.2360 with targets at 1.2410 & 1.2430 in extension.

Alternative scenario
Below 1.2360 look for further downside with 1.2335 & 1.2310 as targets.

Comment
The RSI calls for a rebound.

Gold

may fall to 1751.00 – 1760.00

Pivot
1778.00

Our preference
Short positions below 1778.00 with targets at 1760.00 & 1751.00 in extension.

Alternative scenario
Above 1778.00 look for further upside with 1786.00 & 1792.00 as targets.

Comment
The RSI advocates for further downside.

Crude Oil (WTI)

may rise to 84.30 – 84.90

Pivot
82.60

Our preference
Long positions above 82.60 with targets at 84.30 & 84.90 in extension.

Alternative scenario
Below 82.60 look for further downside with 82.00 & 81.40 as targets.

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

S&P 500 (CME)

may rise to 4470.00 – 4484.00

Pivot
4442.00

Our preference
Long positions above 4442.00 with targets at 4470.00 & 4484.00 in extension.

Alternative scenario
Below 4442.00 look for further downside with 4428.00 & 4411.00 as targets.

Comment
A support base at 4442.00 has formed and has allowed for a temporary stabilisation.

Nasdaq 100 (CME)

may rise to 15165.00 – 15210.00

Pivot
15050.00

Our preference
Long positions above 15050.00 with targets at 15165.00 & 15210.00 in extension.

Alternative scenario
Below 15050.00 look for further downside with 14995.00 & 14940.00 as targets.

Comment
A support base at 15050.00 has formed and has allowed for a temporary stabilisation.

Hang Seng (HKFE)

may rise to 25580.00 – 25700.00

Pivot
25260.00

Our preference
Long positions above 25260.00 with targets at 25580.00 & 25700.00 in extension.

Alternative scenario
Below 25260.00 look for further downside with 25120.00 & 24960.00 as targets.

Comment
The RSI lacks downward momentum.

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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