Doo Prime Daily Featured Trading Strategies – January 20, 2021 - Doo Prime News
Doo Prime News > Important Notice > Doo Prime Daily Featured Trading Strategies – January 20, 2021

Doo Prime Daily Featured Trading Strategies – January 20, 2021 

  1. Daily technical analysis of selected currency pairs 

GBP/NZD  Bullish

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

Target

Opportunity recognized 2021 Jan 20 for the period of up to 12 hours

+0.00026 (26 pips) price change since the Technical Event at 1.91507

Technical Analysis

We found a pattern called Inside Bar (Bullish) on 2021 Jan 20 at 01:00 GMT on a 1 hour chart suggesting the outlook is bullish for up to 12 hours.

The Momentum oscillator crossed above 0 on 2021 Jan 20 at 02:00 GMT, thereby signaling a new accelerating uptrend.

EUR/JPY   Bearish

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

Target
Opportunity recognized 2021 Jan 20 for the period of up to 12 hours

-0.025 (25 pips) price change since the Technical Event at 126.029

Technical Analysis

We found a pattern called Inside Bar (Bearish) on 2021 Jan 20 at 02:00 GMT on a 1 hour chart suggesting the outlook is bearish for up to 12 hours.

The RSI fallen below 70 on 2021 Jan 20 at 02:00 GMT, telling us the price is starting to pull back from being overbought.

  1. Daily Analyst View

EUR/USD

may rise 24 – 44 pips

Pivot

1.2110

Our preference

Long positions above 1.2110 with targets at 1.2160 & 1.2180 in extension.

Alternative scenario

Below 1.2110 look for further downside with 1.2090 & 1.2070 as targets.

Comment

The RSI is bullish and calls for further advance.

GBP/USD

may rise 26 – 56 pips

Pivot

1.3600

Our preference

Long positions above 1.3600 with targets at 1.3670 & 1.3700 in extension.

Alternative scenario

Below 1.3600 look for further downside with 1.3580 & 1.3555 as targets.

Comment

The immediate trend remains up and the momentum is strong.

USD/CAD

may fall 32 – 62 pips

Pivot

1.2760

Our preference

Short positions below 1.2760 with targets at 1.2690 & 1.2660 in extension.

Alternative scenario

Above 1.2760 look for further upside with 1.2780 & 1.2800 as targets.

Comment

The RSI advocates for further decline.

Gold

may rise to 1857.00 – 1865.00

Pivot

1832.00

Our preference

Long positions above 1832.00 with targets at 1857.00 & 1865.00 in extension.

Alternative scenario

Below 1832.00 look for further downside with 1823.00 & 1816.00 as targets.

Comment

The RSI is bullish and calls for further upside.

Brent (ICE)

may rise to 56.55 – 56.85

Pivot

55.50

Our preference

Long positions above 55.50 with targets at 56.55 & 56.85 in extension.

Alternative scenario

Below 55.50 look for further downside with 55.10 & 54.80 as targets.

Comment

The RSI is bullish and calls for further advance.

S&P 500 (CME)

may rise to 3815.00 – 3824.00

Pivot

3782.00

Our preference

Long positions above 3782.00 with targets at 3815.00 & 3824.00 in extension.

Alternative scenario

Below 3782.00 look for further downside with 3772.00 & 3762.00 as targets.

Comment

The RSI is mixed to bullish.

Dax (Eurex)

may rise to 13900.00 – 13940.00

Pivot

13790.00

Our preference

Long positions above 13790.00 with targets at 13900.00 & 13940.00 in extension.

Alternative scenario

Below 13790.00 look for further downside with 13740.00 & 13680.00 as targets.

Comment

A support base at 13790.00 has formed and has allowed for a temporary stabilisation.

SGX FTSE China A50

may fall to 18100.00 – 18280.00

Pivot

18485.00

Our preference

Short positions below 18485.00 with targets at 18280.00 & 18100.00 in extension.

Alternative scenario

Above 18485.00 look for further upside with 18600.00 & 18720.00 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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