Doo Prime Daily Featured Trading Strategies – October 20, 2021 - Doo Prime News
Doo Prime News > Analysis > Daily Featured Trading Strategies > Doo Prime Daily Featured Trading Strategies – October 20, 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
+0.804 (80.4 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 faster moving average crossed above the slower moving average on 2021 Oct 01 at 17:00 GMT, signaling a new uptrend has been established.

EUR/CAD Bearish

Image Features: forms “Diamond Top (Bearish)” pattern

Target
Opportunity recognized 2021 Sep 22 for the period of up to 2 weeks
-0.06135 (613.5 pips) price change since the Technical Event at 1.49956

Technical Analysis

We found a pattern called Diamond Top on 2021 Sep 22 at 17:00 GMT on a 4 hour chart, providing a target price for up to 2 weeks in the range of 1.48000 to 1.49000.

The faster moving average crossed below the slower moving average on 2021 Sep 29 at 05:00 GMT, signaling a new downtrend has been established.

2. Daily Analyst’s View



EUR/USD

may fall 20 – 40 pips

Pivot
1.1655

Our preference
Short positions below 1.1655 with targets at 1.1610 & 1.1590 in extension.

Alternative scenario
Above 1.1655 look for further upside with 1.1670 & 1.1685 as targets.

Comment
The RSI advocates for further downside.

GBP/USD

may fall 23 – 43 pips

Pivot
1.3815

Our preference
Short positions below 1.3815 with targets at 1.3770 & 1.3750 in extension.

Alternative scenario
Above 1.3815 look for further upside with 1.3835 & 1.3850 as targets.

Comment
The RSI calls for a drop.

USD/CAD

may fall 26 – 46 pips

Pivot
1.2375

Our preference
Short positions below 1.2375 with targets at 1.2330 & 1.2310 in extension.

Alternative scenario
Above 1.2375 look for further upside with 1.2390 & 1.2410 as targets.

Comment
The RSI has just struck against its neutrality area at 50% and is reversing down.

Gold

may fall to 1752.00 – 1759.00

Pivot
1778.00

Our preference
Short positions below 1778.00 with targets at 1759.00 & 1752.00 in extension.

Alternative scenario
Above 1778.00 look for further upside with 1785.00 & 1791.00 as targets.

Comment
The RSI is bearish and calls for further downside.

Crude Oil (WTI)

may rise to 83.85 – 84.40

Pivot
82.50

Our preference
Long positions above 82.50 with targets at 83.85 & 84.40 in extension.

Alternative scenario
Below 82.50 look for further downside with 81.80 & 81.20 as targets.

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

S&P 500 (CME)

may rise to 4524.00 – 4540.00

Pivot
4490.00

Our preference
Long positions above 4490.00 with targets at 4524.00 & 4540.00 in extension.

Alternative scenario
Below 4490.00 look for further downside with 4475.00 & 4455.00 as targets.

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

Nasdaq 100 (CME)

may rise to 15435.00 – 15485.00

Pivot
15330.00

Our preference
Long positions above 15330.00 with targets at 15435.00 & 15485.00 in extension.

Alternative scenario
Below 15330.00 look for further downside with 15270.00 & 15200.00 as targets.

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

Hang Seng (HKFE)

may rise to 26100.00 – 26300.00

Pivot
25735.00

Our preference
Long positions above 25735.00 with targets at 26100.00 & 26300.00 in extension.

Alternative scenario
Below 25735.00 look for further downside with 25460.00 & 25200.00 as targets.

Comment
The RSI advocates for further advance.

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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