Doo Prime Daily Featured Trading Strategies – October 6, 2021 - Doo Prime News
Doo Prime News > Analysis > Daily Featured Trading Strategies > Doo Prime Daily Featured Trading Strategies – October 6, 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 Sep 30 for the period of up to 2 weeks
+0.657 (65.7 pips) price change since the Technical Event at 80.415

Technical Analysis

We found a pattern called Continuation Diamond (Bullish) on 2021 Sep 30 at 23:00 GMT on a 1 hour chart, providing a target price for up to 2 weeks in the range of 81.050 to 81.200.

The price crossed above its moving average on 2021 Oct 03 at 22:00 GMT signaling a new uptrend has been established.

USD/DKK Bullish

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

Target
Opportunity recognized 2021 Oct 04 for the period of up to 48 hours
+0.01498 (149.8 pips) price change since the Technical Event at 6.40054

Technical Analysis

We found a pattern called Inside Bar (Bullish) on 2021 Oct 04 at 17:00 GMT on a 4 hour chart suggesting the outlook is bullish for up to 48 hours.

The price crossed above its moving average on 2021 Oct 05 at 21:00 GMT signaling a new uptrend has been established.

2. Daily Analyst’s View



EUR/USD

may fall 14 – 29 pips

Pivot
1.1610

Our preference
Short positions below 1.1610 with targets at 1.1580 & 1.1565 in extension.

Alternative scenario
Above 1.1610 look for further upside with 1.1625 & 1.1640 as targets.

Comment
The RSI advocates for further decline.

GBP/USD

may rise 24 – 44 pips

Pivot
1.3600

Our preference
Long positions above 1.3600 with targets at 1.3650 & 1.3670 in extension.

Alternative scenario
Below 1.3600 look for further downside with 1.3580 & 1.3560 as targets.

Comment
The RSI is mixed with a bullish bias.

USD/CAD

may fall 33 – 53 pips

Pivot
1.2610

Our preference
Short positions below 1.2610 with targets at 1.2550 & 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 1.2550 remains high.

Gold

may rise to 1770.00 – 1778.00

Pivot
1748.00

Our preference
Long positions above 1748.00 with targets at 1770.00 & 1778.00 in extension.

Alternative scenario
Below 1748.00 look for further downside with 1741.00 & 1735.00 as targets.

Comment
A support base at 1748.00 has formed and has allowed for a temporary stabilisation.

Crude Oil (WTI)

may rise to 83.30 – 86.00

Pivot
72.90

Our preference
Long positions above 72.90 with targets at 83.30 & 86.00 in extension.

Alternative scenario
Below 72.90 look for further downside with 69.50 & 66.70 as targets.

Comment
The RSI shows upside momentum.

S&P 500 (CME)

may rise to 4360.00 – 4388.00

Pivot
4317.00

Our preference
Long positions above 4317.00 with targets at 4360.00 & 4388.00 in extension.

Alternative scenario
Below 4317.00 look for further downside with 4287.00 & 4260.00 as targets.

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

Nasdaq 100 (CME)

may rise to 14755.00 – 14830.00

Pivot
14545.00

Our preference
Long positions above 14545.00 with targets at 14755.00 & 14830.00 in extension.

Alternative scenario
Below 14545.00 look for further downside with 14450.00 & 14365.00 as targets.

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

Hang Seng (HKFE)

may rise to 24405.00 – 24625.00

Pivot
24060.00

Our preference
Long positions above 24060.00 with targets at 24405.00 & 24625.00 in extension.

Alternative scenario
Below 24060.00 look for further downside with 23860.00 & 23640.00 as targets.

Comment
The RSI advocates for further upside.

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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