Doo Prime Daily Featured Trading Strategies – January 21, 2021 

1. Daily technical analysis of selected currency pairs 

EUR/AUD  Bullish

Image Features:  forms “Hammer” pattern

Target  

Opportunity recognized 2021 Jan 21 for the period of up to 12 hours

-0.00217 (217 pips) price change since the Technical Event at 1.56204

Technical Analysis  

We found a pattern called Hammer on 2021 Jan 21 at 00:00 GMT on a 1 hour chart suggesting the outlook is bullish for up to 12 hours.

The RSI rose above 30 on 2021 Jan 20 at 23:00 GMT, telling us the price is starting to recover from being oversold.

 

CAD/JPY  Bearish 

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

Target  

Opportunity recognized 2021 Jan 21 for the period of up to 12 hours

-0.019 (19 pips) price change since the Technical Event at 82.044

Technical Analysis  

We found a pattern called Inside Bar (Bearish) on 2021 Jan 21 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 21 at 02:00 GMT, telling us the price is starting to pull back from being overbought.

2. Daily Analyst View

EUR/USD  

may rise 12 – 32 pips

Pivot

1.2105

Our preference

Long positions above 1.2105 with targets at 1.2140 & 1.2160 in extension.

Alternative scenario

Below 1.2105 look for further downside with 1.2090 & 1.2075 as targets.

Comment

The RSI is bullish and calls for further upside.

GBP/USD  

may rise 18 – 38 pips

Pivot

1.3650

Our preference

Long positions above 1.3650 with targets at 1.3700 & 1.3720 in extension.

Alternative scenario

Below 1.3650 look for further downside with 1.3620 & 1.3600 as targets.

Comment

The RSI calls for a rebound.

USD/CAD  

may fall 14 – 49 pips

Pivot

1.2655

Our preference

Short positions below 1.2655 with targets at 1.2600 & 1.2565 in extension.

Alternative scenario

Above 1.2655 look for further upside with 1.2685 & 1.2720 as targets.

Comment

A break below 1.2600 would trigger a drop towards 1.2565.

Gold

may rise to 1877.00 – 1894.00

Pivot

1854.00

Our preference

Long positions above 1854.00 with targets at 1877.00 & 1894.00 in extension.

Alternative scenario

Below 1854.00 look for further downside with 1840.00 & 1832.00 as targets.

Comment

The RSI calls for a new upleg.

Brent (ICE)  

may fall to 55.30 – 55.65

Pivot

56.20

Our preference

Short positions below 56.20 with targets at 55.65 & 55.30 in extension.

Alternative scenario

Above 56.20 look for further upside with 56.65 & 57.00 as targets.

Comment

The RSI is mixed with a bearish bias.

S&P 500 (CME)  

may rise to 3875.00 – 3892.00

Pivot

3824.00

Our preference

Long positions above 3824.00 with targets at 3875.00 & 3892.00 in extension.

Alternative scenario

Below 3824.00 look for further downside with 3808.00 & 3788.00 as targets.

Comment

The RSI is bullish and calls for further advance.

Dax (Eurex)  

may rise to 14021.00 – 14060.00

Pivot

13850.00

Our preference

Long positions above 13850.00 with targets at 14021.00 & 14060.00 in extension.

Alternative scenario

Below 13850.00 look for further downside with 13785.00 & 13680.00 as targets.

Comment

The RSI is bullish and calls for further advance.

SGX FTSE China A50  

may rise to 18720.00 – 18865.00

Pivot

18350.00

Our preference

Long positions above 18350.00 with targets at 18720.00 & 18865.00 in extension.

Alternative scenario

Below 18350.00 look for further downside with 18280.00 & 18200.00 as targets.

Comment

The RSI is bullish and calls for further advance.

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.