Doo Prime Daily Featured Trading Strategies – October 5, 2021 - Doo Prime News
Doo Prime News > Analysis > Daily Featured Trading Strategies > Doo Prime Daily Featured Trading Strategies – October 5, 2021
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1. Daily technical analysis of selected currency pairs



CAD/JPY Bullish

Image Features: forms “Outside Bar (Bullish)” pattern

Target
Opportunity recognized 2021 Oct 05 for the period of up to 12 hours
+0.052 (5.2 pips) price change since the Technical Event at 88.093

Technical Analysis

We found a pattern called Outside Bar (Bullish) on 2021 Oct 05 at 02:00 GMT on a 30 minute chart suggesting the outlook is bullish for up to 12 hours.

A bullish event triggered for Fast Stochastics on 2021 Oct 05 at 02:00 GMT when the %K line crossed above the %D line. The close prices are trading closer to the upper end of the recent high-low price range, which is associated with price increases.

USD/JPY Bearish

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

Target
Opportunity recognized 2021 Oct 01 for the period of up to 2 weeks
-0.106 (10.6 pips) price change since the Technical Event at 111.209

Technical Analysis

We found a pattern called Megaphone Top on 2021 Oct 01 at 04:00 GMT on a 30 minute chart, providing a target price for up to 2 weeks in the range of 110.250 to 110.450.

The faster moving average crossed below the slower moving average on 2021 Oct 01 at 10:30 GMT, signaling a new downtrend has been established.

2. Daily Analyst’s View



EUR/USD

may rise 24 – 39 pips

Pivot
1.1600

Our preference
Long positions above 1.1600 with targets at 1.1640 & 1.1655 in extension.

Alternative scenario
Below 1.1600 look for further downside with 1.1585 & 1.1570 as targets.

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

GBP/USD

may rise 33 – 53 pips

Pivot
1.3570

Our preference
Long positions above 1.3570 with targets at 1.3640 & 1.3660 in extension.

Alternative scenario
Below 1.3570 look for further downside with 1.3550 & 1.3530 as targets.

Comment
The RSI advocates for further upside.

USD/CAD

may fall 35 – 60 pips

Pivot
1.2610

Our preference
Short positions below 1.2610 with targets at 1.2555 & 1.2530 in extension.

Alternative scenario
Above 1.2610 look for further upside with 1.2630 & 1.2650 as targets.

Comment
As long as the resistance at 1.2610 is not surpassed, the risk of the break below 1.2555 remains high.

Gold

may rise to 1774.00 – 1785.00

Pivot
1755.00

Our preference
Long positions above 1755.00 with targets at 1774.00 & 1785.00 in extension.

Alternative scenario
Below 1755.00 look for further downside with 1747.00 & 1735.00 as targets.

Comment
The RSI is bullish and calls for further upside.

Crude Oil (WTI)

may rise to 78.50 – 79.20

Pivot
77.00

Our preference
Long positions above 77.00 with targets at 78.50 & 79.20 in extension.

Alternative scenario
Below 77.00 look for further downside with 76.20 & 75.30 as targets.

Comment
The RSI is mixed to bullish.

S&P 500 (CME)

may fall to 4240.00 – 4260.00

Pivot
4315.00

Our preference
Short positions below 4315.00 with targets at 4260.00 & 4240.00 in extension.

Alternative scenario
Above 4315.00 look for further upside with 4344.00 & 4365.00 as targets.

Comment
As long as 4315.00 is resistance, expect a return to 4260.00.

Nasdaq 100 (CME)

may fall to 14275.00 – 14325.00

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Pivot
14535.00

Our preference
Short positions below 14535.00 with targets at 14325.00 & 14275.00 in extension.

Alternative scenario
Above 14535.00 look for further upside with 14635.00 & 14725.00 as targets.

Comment
As long as the resistance at 14535.00 is not surpassed, the risk of the break below 14325.00 remains high.

Hang Seng (HKFE)

may fall to 23675.00 – 23785.00

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Pivot
24090.00

Our preference
Short positions below 24090.00 with targets at 23785.00 & 23675.00 in extension.

Alternative scenario
Above 24090.00 look for further upside with 24220.00 & 24405.00 as targets.

Comment
As long as 24090.00 is resistance, expect a return to 23785.00.

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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