Doo Prime Daily Featured Trading Strategies – February 11, 2021 - Doo Prime News
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Doo Prime Daily Featured Trading Strategies – February 11, 2021 

  1. Daily technical analysis of selected currency pairs

XAG/USD  Bullish

Image Features: forms “Engulfing Line (Bullish)” pattern

Target

Opportunity recognized 2021 Feb 11 for the period of up to 12 hours

-0.026 (26 pips) price change since the Technical Event at 26.826

Technical Analysis

We found a pattern called Engulfing Line (Bullish) on 2021 Feb 11 at 03:00 GMT on a 30 minute chart suggesting the outlook is bullish for up to 12 hours.

The RSI rose above 30 on 2021 Feb 11 at 03:00 GMT, telling us the price is starting to recover from being oversold.

CAD/JPY    Bearish

Image Features:  forms “Engulfing Line (Bearish)” pattern

Target
Opportunity recognized 2021 Feb 10 for the period of up to 48 hours

-0.040 (4 pips) price change since the Technical Event at 82.376

Technical Analysis

We found a pattern called Engulfing Line (Bearish) on 2021 Feb 10 at 21:00 GMT on a 4 hour chart suggesting the outlook is bearish for up to 48 hours.

The Williams %R indicator triggered a bearish signal on 2021 Feb 11 at 01:00 GMT, having fallen out of overbought (-20 level) and continued on to cross below the -50 level.

  1. Daily Analyst’s View

EUR/USD

may fall 15 – 30 pips

Pivot

1.2140

Our preference

Short positions below 1.2140 with targets at 1.2100 & 1.2085 in extension.

Alternative scenario

Above 1.2140 look for further upside with 1.2160 & 1.2180 as targets.

Comment

The RSI calls for a new downleg.

GBP/USD

may fall 18 – 38 pips

Pivot

1.3845

Our preference

Short positions below 1.3845 with targets at 1.3805 & 1.3785 in extension.

Alternative scenario

Above 1.3845 look for further upside with 1.3865 & 1.3885 as targets.

Comment

The RSI shows downside momentum.

USD/CAD

may rise 14 – 39 pips

Pivot

1.2665

Our preference

Long positions above 1.2665 with targets at 1.2710 & 1.2735 in extension.

Alternative scenario

Below 1.2665 look for further downside with 1.2650 & 1.2635 as targets.

Comment

The RSI calls for a rebound.

 

Gold

may fall to 1828.00 – 1834.00

Pivot

1848.00

Our preference

Short positions below 1848.00 with targets at 1834.00 & 1828.00 in extension.

Alternative scenario

Above 1848.00 look for further upside with 1855.00 & 1863.00 as targets.

Comment

Intraday technical indicators are mixed.

Brent (ICE)

may rise to 61.70 – 62.00

Pivot

60.90

Our preference

Long positions above 60.90 with targets at 61.70 & 62.00 in extension.

Alternative scenario

Below 60.90 look for further downside with 60.45 & 60.05 as targets.

Comment

The RSI is mixed and calls for caution.

S&P 500 (CME)

may fall to 3860.00 – 3878.00

Pivot

3925.00

Our preference

Short positions below 3925.00 with targets at 3878.00 & 3860.00 in extension.

Alternative scenario

Above 3925.00 look for further upside with 3940.00 & 3960.00 as targets.

Comment

The RSI is bearish and calls for further decline.

 

Dax (Eurex)

may fall to 13735.00 – 13820.00

Pivot

13970.00

Our preference

Short positions below 13970.00 with targets at 13820.00 & 13735.00 in extension.

Alternative scenario

Above 13970.00 look for further upside with 14020.00 & 14090.00 as targets.

Comment

As long as the resistance at 13970.00 is not surpassed, the risk of the break below 13820.00 remains high.

SGX FTSE China A50

may rise to 20180.00 – 20360.00

Pivot

19880.00

Our preference

Long positions above 19880.00 with targets at 20180.00 & 20360.00 in extension.

Alternative scenario

Below 19880.00 look for further downside with 19680.00 & 19570.00 as targets.

Comment

The immediate trend remains up but the momentum is weak.

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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