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HomeDoo Prime Daily Featured Trading Strategies – February 10, 2021
- Daily technical analysis of selected currency pairs
AUD/SGD Bullish
Image Features: forms “Hammer” pattern
Target
Opportunity recognized 2021 Feb 10 for the period of up to 12 hours
+0.00043 (43 pips) price change since the Technical Event at 1.02567
Technical Analysis
We found a pattern called Hammer on 2021 Feb 10 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 10 at 03:30 GMT signaling a new uptrend has been established.
AUD/JPY Bearish
Image Features: forms “Engulfing Line (Bearish)” pattern
Target
Opportunity recognized 2021 Feb 10 for the period of up to 12 hours
+0.032 (32 pips) price change since the Technical Event at 80.888
Technical Analysis
We found a pattern called Engulfing Line (Bearish) on 2021 Feb 10 at 03:00 GMT on a 30 minute chart suggesting the outlook is bearish for up to 12 hours.
The Williams %R indicator triggered a bearish signal on 2021 Feb 10 at 03:00 GMT, having fallen out of overbought (-20 level) and continued on to cross below the -50 level.
- Daily Analyst’s View
EUR/USD
may rise 16 – 31 pips
Pivot
1.2090
Our preference
Long positions above 1.2090 with targets at 1.2125 & 1.2140 in extension.
Alternative scenario
Below 1.2090 look for further downside with 1.2065 & 1.2045 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
GBP/USD
may rise 20 – 45 pips
Pivot
1.3785
Our preference
Long positions above 1.3785 with targets at 1.3825 & 1.3850 in extension.
Alternative scenario
Below 1.3785 look for further downside with 1.3765 & 1.3745 as targets.
Comment
The break above 1.3785 is a positive signal that has opened a path to 1.3825.
USD/CAD
may fall 45 – 75 pips
Pivot
1.2735
Our preference
Short positions below 1.2735 with targets at 1.2650 & 1.2620 in extension.
Alternative scenario
Above 1.2735 look for further upside with 1.2760 & 1.2780 as targets.
Comment
The RSI advocates for further downside.
Gold
may fall to 1819.00 – 1828.00
Pivot
1848.00
Our preference
Short positions below 1848.00 with targets at 1828.00 & 1819.00 in extension.
Alternative scenario
Above 1848.00 look for further upside with 1857.00 & 1864.00 as targets.
Comment
The RSI calls for a drop.
Brent (ICE)
may rise to 61.80 – 62.40
Pivot
60.60
Our preference
Long positions above 60.60 with targets at 61.80 & 62.40 in extension.
Alternative scenario
Below 60.60 look for further downside with 60.05 & 59.75 as targets.
Comment
The RSI advocates for further upside.
S&P 500 (CME)
may rise to 3920.00 – 3940.00
Pivot
3895.00
Our preference
Long positions above 3895.00 with targets at 3920.00 & 3940.00 in extension.
Alternative scenario
Below 3895.00 look for further downside with 3887.00 & 3868.00 as targets.
Comment
The RSI calls for a new upleg.
Dax (Eurex)
may rise to 14120.00 – 14185.00
Pivot
13950.00
Our preference
Long positions above 13950.00 with targets at 14120.00 & 14185.00 in extension.
Alternative scenario
Below 13950.00 look for further downside with 13895.00 & 13850.00 as targets.
Comment
The RSI calls for a rebound.
SGX FTSE China A50
may rise to 19770.00 – 20000.00
Pivot
19485.00
Our preference
Long positions above 19485.00 with targets at 19770.00 & 20000.00 in extension.
Alternative scenario
Below 19485.00 look for further downside with 19335.00 & 19150.00 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.
