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

1. Daily technical analysis of selected currency pairs 

EUR/AUD   Bullish 

Image Features: forms “Megaphone Bottom” pattern

Target  

Opportunity recognized 2021 Jan 11 for the period of up to 48 hours

+0.00228 (228 pips) price change since the Technical Event at 1.57802

Technical Analysis  

We found a pattern called Megaphone Bottom on 2021 Jan 11 at 00:00 GMT on a 30 minute chart, providing a target price for up to 48 hours in the range of 1.58000 to 1.59000.
The faster moving average crossed above the slower moving average on 2021 Jan 11 at 02:00 GMT, signaling a new uptrend has been established.

 

GBP/MXN Bullish 

Image Features: forms “Flag (Bullish)” pattern

Target  

Opportunity recognized 2021 Jan 11 for the period of up to 48 hours

+0.08033 (8033 pips) price change since the Technical Event at 27.06971

Technical Analysis  

We found a pattern called Flag (Bullish) on 2021 Jan 11 at 00:00 GMT on a 30 minute chart, providing a target price for up to 48 hours in the range of 27.29000 to 27.33000.
The price crossed above its moving average on 2021 Jan 11 at 00:30 GMT signaling a new uptrend has been established.

2. Daily Analyst View

EUR/USD  

may fall 42 – 62 pips

Pivot

1.2230

Our preference

Short positions below 1.2230 with targets at 1.2135 & 1.2115 in extension.

Alternative scenario

Above 1.2230 look for further upside with 1.2255 & 1.2285 as targets.

Comment

The RSI is bearish and calls for further downside.

GBP/USD  

may fall 10 – 50 pips

Pivot

1.3545

Our preference

Short positions below 1.3545 with targets at 1.3500 & 1.3460 in extension.

Alternative scenario

Above 1.3545 look for further upside with 1.3590 & 1.3630 as targets.

Comment

A break below 1.3500 would trigger a drop towards 1.3460.

USD/CAD  

may fall to 1.2460 – 1.2640

Pivot

1.2930

Our preference

Short positions below 1.2930 with targets at 1.2640 & 1.2460 in extension.

Alternative scenario

Above 1.2930 look for further upside with 1.3050 & 1.3170 as targets.

Comment

A break below 1.2640 would trigger a drop towards 1.2460.

Gold

may fall to 1775.00 – 1800.00

Pivot

1856.00

Our preference

Short positions below 1856.00 with targets at 1800.00 & 1775.00 in extension.

Alternative scenario

Above 1856.00 look for further upside with 1877.00 & 1894.00 as targets.

Comment

The RSI is bearish and calls for further downside.

Brent (ICE)  

may rise to 56.40 – 57.20

Pivot

55.05

Our preference

Long positions above 55.05 with targets at 56.40 & 57.20 in extension.

Alternative scenario

Below 55.05 look for further downside with 54.55 & 53.95 as targets.

Comment

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

 

S&P 500 (CME)  

may rise to 3828.00 – 3849.00

Pivot

3785.00

Our preference

Long positions above 3785.00 with targets at 3828.00 & 3849.00 in extension.

Alternative scenario

Below 3785.00 look for further downside with 3770.00 & 3748.00 as targets.

Comment

The RSI is mixed to bullish.

Dax (Eurex)  

may rise to 14160.00 – 14230.00

Pivot

13970.00

Our preference

Long positions above 13970.00 with targets at 14160.00 & 14230.00 in extension.

Alternative scenario

Below 13970.00 look for further downside with 13880.00 & 13822.00 as targets.

Comment

The RSI is mixed to bullish.

SGX FTSE China A50  

may fall to 18060.00 – 18320.00

Pivot

18740.00

Our preference

Short positions below 18740.00 with targets at 18320.00 & 18060.00 in extension.

Alternative scenario

Above 18740.00 look for further upside with 18940.00 & 19140.00 as targets.

Comment

The RSI is bearish and calls for further downside.

 

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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