Doo Prime Daily Featured Trading Strategies – October 21, 2021 - Doo Prime News
Doo Prime News > Analysis > Daily Featured Trading Strategies > Doo Prime Daily Featured Trading Strategies – October 21, 2021
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1. Daily technical analysis of selected currency pairs



CAD/JPY Bullish

Image Features: forms “Hammer (Bullish)” pattern

Target
Opportunity recognized 2021 Oct 21 for the period of up to 12 hours
+0.170 (17 pips) price change since the Technical Event at 92.787

Technical Analysis

We found a pattern called Hammer on 2021 Oct 21 at 01:00 GMT on a 15 minute chart suggesting the outlook is bullish for up to 12 hours.

On 2021 Oct 21 at 01:45 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.

EUR/CAD Bearish

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

Target
Opportunity recognized 2021 Oct 21 for the period of up to 12 hours
-0.00147 (14.7 pips) price change since the Technical Event at 1.43571

Technical Analysis

We found a pattern called Hanging Man on 2021 Oct 21 at 00:30 GMT on a 30 minute chart suggesting the outlook is bearish for up to 12 hours.

The Momentum oscillator crossed below 0 on 2021 Oct 21 at 02:30 GMT, thereby signaling a new accelerating downtrend.

2. Daily Analyst’s View



EUR/USD

may rise 14 – 34 pips

Pivot
1.1630

Our preference
Long positions above 1.1630 with targets at 1.1670 & 1.1690 in extension.

Alternative scenario
Below 1.1630 look for further downside with 1.1615 & 1.1600 as targets.

Comment
The RSI is bullish and calls for further upside.

GBP/USD

may rise 35 – 55 pips

Pivot
1.3790

Our preference
Long positions above 1.3790 with targets at 1.3860 & 1.3880 in extension.

Alternative scenario
Below 1.3790 look for further downside with 1.3765 & 1.3740 as targets.

Comment
The RSI advocates for further advance.

USD/CAD

may fall 28 – 48 pips

Pivot
1.2350

Our preference
Short positions below 1.2350 with targets at 1.2290 & 1.2270 in extension.

Alternative scenario
Above 1.2350 look for further upside with 1.2370 & 1.2390 as targets.

Comment
The RSI calls for a new downleg.

Gold

may rise to 1791.00 – 1800.00

Pivot
1771.00

Our preference
Long positions above 1771.00 with targets at 1791.00 & 1800.00 in extension.

Alternative scenario
Below 1771.00 look for further downside with 1765.00 & 1759.00 as targets.

Comment
The RSI advocates for further advance.

Crude Oil (WTI)

may rise to 84.50 – 85.10

Pivot
82.60

Our preference
Long positions above 82.60 with targets at 84.50 & 85.10 in extension.

Alternative scenario
Below 82.60 look for further downside with 81.90 & 81.30 as targets.

Comment
The RSI shows upside momentum.

S&P 500 (CME)

may rise to 4533.00 – 4540.00

Pivot
4515.00

Our preference
Long positions above 4515.00 with targets at 4533.00 & 4540.00 in extension.

Alternative scenario
Below 4515.00 look for further downside with 4504.00 & 4493.00 as targets.

Comment
A support base at 4515.00 has formed and has allowed for a temporary stabilisation.

Nasdaq 100 (CME)

may rise to 15435.00 – 15485.00

Pivot
15320.00

Our preference
Long positions above 15320.00 with targets at 15435.00 & 15485.00 in extension.

Alternative scenario
Below 15320.00 look for further downside with 15270.00 & 15200.00 as targets.

Comment
A support base at 15320.00 has formed and has allowed for a temporary stabilisation.

Hang Seng (HKFE)

may rise to 26220.00 – 26380.00

Pivot
26000.00

Our preference
Long positions above 26000.00 with targets at 26220.00 & 26380.00 in extension.

Alternative scenario
Below 26000.00 look for further downside with 25860.00 & 25660.00 as targets.

Comment
The next resistances are at 26220.00 and then at 26380.00.

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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