Doo Prime Daily Featured Trading Strategies – September 1, 2021 - Doo Prime News
Doo Prime News > Analysis > Daily Featured Trading Strategies > Doo Prime Daily Featured Trading Strategies – September 1, 2021
Doo Prime Daily Featured Trading Strategies

1. Daily technical analysis of selected currency pairs



EUR/JPY Bullish

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

Target
Opportunity recognized 2021 Aug 23 for the period of up to 2 weeks
+1.123 (112.3 pips) price change since the Technical Event at 128.947

Technical Analysis

We found a pattern called Megaphone Bottom on 2021 Aug 23 at 09:00 GMT on a 4 hour chart, providing a target price for up to 2 weeks in the range of 130.000 to 130.200.

The price crossed above its moving average on 2021 Aug 27 at 17:00 GMT signaling a new uptrend has been established.

EUR/CAD Bearish

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

Target
Opportunity recognized 2021 Sep 01 for the period of up to 12 hours
-0.00130 (13 pips) price change since the Technical Event at 1.49060

Technical Analysis

We found a pattern called Inside Bar (Bearish) on 2021 Sep 01 at 02:00 GMT on a 1 hour chart suggesting the outlook is bearish for up to 12 hours.

The price crossed below its moving average on 2021 Sep 01 at 03:00 GMT signaling a new downtrend has been established.

2. Daily Analyst’s View

EUR/USD

may fall 11 – 21 pips

Pivot
1.1815

Our preference
Short positions below 1.1815 with targets at 1.1790 & 1.1780 in extension.

Alternative scenario
Above 1.1815 look for further upside with 1.1830 & 1.1845 as targets.

Comment
As long as the resistance at 1.1815 is not surpassed, the risk of the break below 1.1790 remains high.

GBP/USD

may fall 22 – 37 pips

Pivot
1.3780

Our preference
Short positions below 1.3780 with targets at 1.3735 & 1.3720 in extension.

Alternative scenario
Above 1.3780 look for further upside with 1.3795 & 1.3810 as targets.

Comment
As long as 1.3780 is resistance, look for choppy price action with a bearish bias.

USD/CAD

may fall 36 – 51 pips

Pivot
1.2650

Our preference
Short positions below 1.2650 with targets at 1.2580 & 1.2565 in extension.

Alternative scenario
Above 1.2650 look for further upside with 1.2665 & 1.2680 as targets.

Comment
As long as 1.2650 is resistance, look for choppy price action with a bearish bias.

Gold

may rise to 1823.00 – 1830.00

Pivot
1806.00

Our preference
Long positions above 1806.00 with targets at 1823.00 & 1830.00 in extension.

Alternative scenario
Below 1806.00 look for further downside with 1799.00 & 1791.00 as targets.

Comment
The RSI is mixed with a bullish bias.

Crude Oil (WTI)

may rise to 69.65 – 70.00

Pivot
68.40

Our preference
Long positions above 68.40 with targets at 69.65 & 70.00 in extension.

Alternative scenario
Below 68.40 look for further downside with 68.15 & 67.70 as targets.

Comment
The RSI is bullish and calls for further upside.

S&P 500 (CME)

may rise to 4542.00 – 4553.00

Pivot
4513.00

Our preference
Long positions above 4513.00 with targets at 4542.00 & 4553.00 in extension.

Alternative scenario
Below 4513.00 look for further downside with 4500.00 & 4484.00 as targets.

Comment
The RSI is below its neutrality area at 50% but reversing up.

Nasdaq 100 (CME)

may rise to 15635.00 – 15705.00

Pivot
15520.00

Our preference
Long positions above 15520.00 with targets at 15635.00 & 15705.00 in extension.

Alternative scenario
Below 15520.00 look for further downside with 15455.00 & 15360.00 as targets.

Comment
The RSI is below its neutrality area at 50% but reversing up.

Hang Seng (HKFE)

may rise to 26070.00 – 26285.00

Pivot
25575.00

Our preference
Long positions above 25575.00 with targets at 26070.00 & 26285.00 in extension.

Alternative scenario
Below 25575.00 look for further downside with 25395.00 & 25230.00 as targets.

Comment
The RSI is bullish and calls 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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