Doo Prime Daily Featured Trading Strategies – February 05, 2021 

1. Daily technical analysis of selected currency pairs

AUD/SGD  Bullish

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

Target 

Opportunity recognized 2021 Feb 05 for the period of up to 12 hours

+0.00005 (05 pips) price change since the Technical Event at 1.01603

Technical Analysis 

We found a pattern called Outside Bar (Bullish) on 2021 Feb 05 at 02:30 GMT on a 30 minute chart suggesting the outlook is bullish for up to 12 hours.
The price crossed above its moving average on 2021 Feb 05 at 02:30 GMT signaling a new uptrend has been established.

USD/EUR   Bullish

Image Feature:   forms “Hammer” pattern

Target  

Opportunity recognized 2021 Feb 05 for the period of up to 12 hours

+0.00053 (53 pips) price change since the Technical Event at 0.83547

Technical Analysis  

We found a pattern called Hammer on 2021 Feb 05 at 01:00 GMT on a 30 minute chart suggesting the outlook is bullish for up to 12 hours.
The Momentum oscillator crossed above 0 on 2021 Feb 05 at 02:30 GMT, thereby signaling a new accelerating uptrend.

 

2. Daily Analyst View

EUR/USD  

may fall 13 – 38 pips

Pivot

1.1995

Our preference

Short positions below 1.1995 with targets at 1.1955 & 1.1930 in extension.

Alternative scenario

Above 1.1995 look for further upside with 1.2020 & 1.2040 as targets.

Comment

A break below 1.1955 would trigger a drop towards 1.1930.

 

GBP/USD  

may rise 13 – 43 pips

Pivot

1.3650

Our preference

Long positions above 1.3650 with targets at 1.3700 & 1.3730 in extension.

Alternative scenario

Below 1.3650 look for further downside with 1.3630 & 1.3610 as targets.

Comment

The RSI is bullish and calls for further upside.

USD/CAD  

may rise 16 – 36 pips

Pivot

1.2805

Our preference

Long positions above 1.2805 with targets at 1.2840 & 1.2860 in extension.

Alternative scenario

Below 1.2805 look for further downside with 1.2790 & 1.2775 as targets.

Comment

A support base at 1.2805 has formed and has allowed for a temporary stabilisation.

Gold

may fall to 1777.00 – 1785.00

Pivot

1808.00

Our preference

Short positions below 1808.00 with targets at 1785.00 & 1777.00 in extension.

Alternative scenario

Above 1808.00 look for further upside with 1819.00 & 1830.00 as targets.

Comment

The RSI is mixed with a bearish bias.

Brent (ICE)  

may rise to 59.45 – 60.00

Pivot

58.60

Our preference

Long positions above 58.60 with targets at 59.45 & 60.00 in extension.

Alternative scenario

Below 58.60 look for further downside with 58.05 & 57.60 as targets.

Comment

The RSI is bullish and calls for further advance.

 

S&P 500 (CME)  

may rise to 3875.00 – 3900.00

Pivot

3840.00

Our preference

Long positions above 3840.00 with targets at 3875.00 & 3900.00 in extension.

Alternative scenario

Below 3840.00 look for further downside with 3807.00 & 3780.00 as targets.

Comment

The RSI shows upside momentum.

 

Dax (Eurex)  

may rise to 14120.00 – 14180.00

Pivot

13960.00

Our preference

Long positions above 13960.00 with targets at 14120.00 & 14180.00 in extension.

Alternative scenario

Below 13960.00 look for further downside with 13900.00 & 13850.00 as targets.

Comment

The RSI is bullish and calls for further advance.

 

SGX FTSE China A50  

may rise to 19115.00 – 19230.00

Pivot

18780.00

Our preference

Long positions above 18780.00 with targets at 19115.00 & 19230.00 in extension.

Alternative scenario

Below 18780.00 look for further downside with 18660.00 & 18540.00 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.