Doo Prime Daily Featured Trading Strategies – January 12, 2021 - Doo Prime News
Doo Prime News > Important Notice > Doo Prime Daily Featured Trading Strategies – January 12, 2021

Doo Prime Daily Featured Trading Strategies – January 12, 2021 

  1. Daily technical analysis of selected currency pairs 

SGD/JPY Bearish

Image Features:  forms “Hanging Man” pattern

Target

Opportunity recognized 2021 Jan 12 for the period of up to 48 hours

+0.032 (32 pips) price change since the Technical Event at 78.330

Technical Analysis

We found a pattern called Hanging Man on 2021 Jan 12 at 01:00 GMT on a 4 hour chart suggesting the outlook is bearish for up to 48 hours.

The Momentum oscillator crossed below 0 on 2021 Jan 11 at 21:00 GMT, thereby signaling a new accelerating downtrend.

AUD/CAD Bearish

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

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

-0.00007 (07 pips) price change since the Technical Event at 0.98387

Technical Analysis

We found a pattern called Inside Bar (Bearish) on 2021 Jan 11 at 21:00 GMT on a 4 hour chart suggesting the outlook is bearish for up to 48 hours.

The Momentum oscillator crossed below 0 on 2021 Jan 11 at 21:00 GMT, thereby signaling a new accelerating downtrend.

  1. Daily Analyst View

EUR/USD

may fall 21 – 51 pips

Pivot

1.2195

Our preference

Short positions below 1.2195 with targets at 1.2130 & 1.2100 in extension.

Alternative scenario

Above 1.2195 look for further upside with 1.2225 & 1.2255 as targets.

Comment

As long as the resistance at 1.2195 is not surpassed, the risk of the break below 1.2130 remains high.

GBP/USD

may rise 22 – 52 pips

Pivot

1.3490

Our preference

Long positions above 1.3490 with targets at 1.3540 & 1.3570 in extension.

Alternative scenario

Below 1.3490 look for further downside with 1.3450 & 1.3425 as targets.

Comment

The break above 1.3490 is a positive signal that has opened a path to 1.3540.

USD/CAD

may rise 37 – 62 pips

Pivot

1.2740

Our preference

Long positions above 1.2740 with targets at 1.2810 & 1.2835 in extension.

Alternative scenario

Below 1.2740 look for further downside with 1.2710 & 1.2680 as targets.

Comment

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

Gold

may fall to 1800.00 – 1816.00

Pivot

1856.00

Our preference

Short positions below 1856.00 with targets at 1816.00 & 1800.00 in extension.

Alternative scenario

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

Comment

The RSI is mixed.

Brent (ICE)

may rise to 56.40 – 56.80

Pivot

55.00

Our preference

Long positions above 55.00 with targets at 56.40 & 56.80 in extension.

Alternative scenario

Below 55.00 look for further downside with 54.55 & 53.95 as targets.

Comment

Intraday technical indicators are mixed.

S&P 500 (CME)

may fall to 3748.00 – 3775.00

Pivot

3824.00

Our preference

Short positions below 3824.00 with targets at 3775.00 & 3748.00 in extension.

Alternative scenario

Above 3824.00 look for further upside with 3838.00 & 3849.00 as targets.

Comment

The RSI is mixed with a bearish bias.

Dax (Eurex)

may fall to 13700.00 – 13790.00

Pivot

13990.00

Our preference

Short positions below 13990.00 with targets at 13790.00 & 13700.00 in extension.

Alternative scenario

Above 13990.00 look for further upside with 14085.00 & 14120.00 as targets.

Comment

The index currently faces a challenging resistance area at 13990.00.

SGX FTSE China A50

may fall to 18060.00 – 18330.00

Pivot

18650.00

Our preference

Short positions below 18650.00 with targets at 18330.00 & 18060.00 in extension.

Alternative scenario

Above 18650.00 look for further upside with 18940.00 & 19140.00 as targets.

Comment

The RSI is mixed with a bearish bias.

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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