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Doo Prime Daily Featured Trading Strategies – February 09, 2021


Doo Prime Daily Featured Trading Strategies – February 09, 2021 

  1. Daily technical analysis of selected currency pairs

GBP/AUD  Bullish

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

Target

Opportunity recognized 2021 Feb 03 for the period of up to 12 hours

+0.00060 (5 pips) price change since the Technical Event at 0.92094

Technical Analysis

We found a pattern called Inside Bar (Bullish) on 2021 Feb 03 at 02:10 GMT on a 5 minute chart suggesting the outlook is bullish for up to 12 hours.

The Momentum oscillator crossed above 0 on 2021 Feb 03 at 02:15 GMT, thereby signaling a new accelerating uptrend.

 

EUR/HKD   Bearish

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

Target
Opportunity recognized 2021 Feb 09 for the period of up to 12 hours

+0.01595 (1595 pips) price change since the Technical Event at 9.34836

Technical Analysis

We found a pattern called Inside Bar (Bearish) on 2021 Feb 09 at 02:00 GMT on a 30 minute chart suggesting the outlook is bearish for up to 12 hours.

The price broke above the upper Bollinger Band on 2021 Feb 09 at 02:30 GMT, suggesting the price is over-extended and may reverse.

  1. Daily Analyst’s View

EUR/USD

may rise 15 – 30 pips

Pivot

1.2035

Our preference

Long positions above 1.2035 with targets at 1.2070 & 1.2085 in extension.

Alternative scenario

Below 1.2035 look for further downside with 1.2020 & 1.2000 as targets.

Comment

The RSI has just landed on its neutrality area at 50% and is turning up.

GBP/USD

may rise 20 – 50 pips

Pivot

1.3720

Our preference

Long positions above 1.3720 with targets at 1.3770 & 1.3800 in extension.

Alternative scenario

Below 1.3720 look for further downside with 1.3700 & 1.3680 as targets.

Comment

The RSI is bullish and calls for further advance.

 

USD/CAD

may fall 28 – 43 pips

Pivot

1.2755

Our preference

Short positions below 1.2755 with targets at 1.2700 & 1.2685 in extension.

Alternative scenario

Above 1.2755 look for further upside with 1.2780 & 1.2805 as targets.

Comment

The RSI calls for a new downleg.

Gold

may rise to 1845.00 – 1854.00

Pivot

1823.00

Our preference

Long positions above 1823.00 with targets at 1845.00 & 1854.00 in extension.

Alternative scenario

Below 1823.00 look for further downside with 1818.00 & 1808.00 as targets.

Comment

The RSI is bullish and calls for further upside.

Brent (ICE)

may rise to 61.35 – 61.80

Pivot

60.20

Our preference

Long positions above 60.20 with targets at 61.35 & 61.80 in extension.

Alternative scenario

Below 60.20 look for further downside with 59.75 & 59.40 as targets.

Comment

The immediate trend remains up and the momentum is strong.

 

S&P 500 (CME)

may rise to 3920.00 – 3940.00

Pivot

3885.00

Our preference

Long positions above 3885.00 with targets at 3920.00 & 3940.00 in extension.

Alternative scenario

Below 3885.00 look for further downside with 3868.00 & 3852.00 as targets.

Comment

The RSI is mixed to bullish.

Dax (Eurex)

may fall to 13940.00 – 14000.00

Pivot

14120.00

Our preference

Short positions below 14120.00 with targets at 14000.00 & 13940.00 in extension.

Alternative scenario

Above 14120.00 look for further upside with 14185.00 & 14250.00 as targets.

Comment

The RSI is bearish and calls for further decline.

SGX FTSE China A50

may rise to 19375.00 – 19570.00

Pivot

19070.00

Our preference

Long positions above 19070.00 with targets at 19375.00 & 19570.00 in extension.

Alternative scenario

Below 19070.00 look for further downside with 18940.00 & 18780.00 as targets.

Comment

The RSI is mixed to bullish.

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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