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HomeDoo Prime Daily Featured Trading Strategies – January 18, 2021
- Daily technical analysis of selected currency pairs
CAD/JPY Bullish
Image Features: forms “Inside Bar (Bullish)” pattern
Target
Opportunity recognized 2021 Jan 18 for the period of up to 12 hours
-0.010 (1 pips) price change since the Technical Event at 81.250
Technical Analysis
We found a pattern called Inside Bar (Bullish) on 2021 Jan 18 at 02:00 GMT on a 15 minute chart suggesting the outlook is bullish for up to 12 hours.
The RSI rose above 30 on 2021 Jan 18 at 02:00 GMT, telling us the price is starting to recover from being oversold.
SGD/JPY Bullish
Image Features: forms “Inside Bar (Bullish)” pattern
Target
Opportunity recognized 2021 Jan 18 for the period of up to 12 hours
-0.007 (07 pips) price change since the Technical Event at 77.950
Technical Analysis
We found a pattern called Inside Bar (Bullish) on 2021 Jan 18 at 02:00 GMT on a 30 minute chart suggesting the outlook is bullish for up to 12 hours.
The Momentum oscillator crossed above 0 on 2021 Jan 18 at 02:00 GMT, thereby signaling a new accelerating uptrend.
- Daily Analyst View
EUR/USD
may fall 36 – 56 pips
Pivot
1.2110
Our preference
Short positions below 1.2110 with targets at 1.2040 & 1.2020 in extension.
Alternative scenario
Above 1.2110 look for further upside with 1.2130 & 1.2150 as targets.
Comment
The RSI is bearish and calls for further decline.
GBP/USD
may fall 40 – 60 pips
Pivot
1.3625
Our preference
Short positions below 1.3625 with targets at 1.3550 & 1.3530 in extension.
Alternative scenario
Above 1.3625 look for further upside with 1.3660 & 1.3700 as targets.
Comment
The RSI calls for a new downleg.
USD/CAD
may rise 32 – 77 pips
Pivot
1.2700
Our preference
Long positions above 1.2700 with targets at 1.2790 & 1.2835 in extension.
Alternative scenario
Below 1.2700 look for further downside with 1.2675 & 1.2650 as targets.
Comment
The RSI is bullish and calls for further advance.
Gold
may fall to 1788.00 – 1802.00
Pivot
1833.00
Our preference
Short positions below 1833.00 with targets at 1802.00 & 1788.00 in extension.
Alternative scenario
Above 1833.00 look for further upside with 1846.00 & 1857.00 as targets.
Comment
A break below 1802.00 would trigger a drop towards 1788.00.
Brent (ICE)
may fall to 53.95 – 54.25
Pivot
55.35
Our preference
Short positions below 55.35 with targets at 54.25 & 53.95 in extension.
Alternative scenario
Above 55.35 look for further upside with 55.80 & 56.15 as targets.
Comment
The RSI is bearish and calls for further decline.
S&P 500 (CME)
may fall to 3715.00 – 3741.00
Pivot
3777.00
Our preference
Short positions below 3777.00 with targets at 3741.00 & 3715.00 in extension.
Alternative scenario
Above 3777.00 look for further upside with 3785.00 & 3797.00 as targets.
Comment
The RSI is bearish and calls for further downside.
Dax (Eurex)
may fall to 13600.00 – 13660.00
Pivot
13830.00
Our preference
Short positions below 13830.00 with targets at 13660.00 & 13600.00 in extension.
Alternative scenario
Above 13830.00 look for further upside with 13880.00 & 13920.00 as targets.
Comment
As long as the resistance at 13830.00 is not surpassed, the risk of the break below 13660.00 remains high.
SGX FTSE China A50
may fall to 18060.00 – 18305.00
Pivot
18600.00
Our preference
Short positions below 18600.00 with targets at 18305.00 & 18060.00 in extension.
Alternative scenario
Above 18600.00 look for further upside with 18700.00 & 18790.00 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.
