Doo Prime Daily Featured Trading Strategies – January 26, 2021 - Doo Prime News
Doo Prime News > Important Notice > Doo Prime Daily Featured Trading Strategies – January 26, 2021

Doo Prime Daily Featured Trading Strategies – January 26, 2021 

  1. Daily technical analysis of selected currency pairs 

CAD/JPY  Bullish

Image Features:  forms “Hammer” pattern

Target

Opportunity recognized 2021 Jan 26 for the period of up to 12 hours

-0.029 (29 pips) price change since the Technical Event at 81.403

Technical Analysis

We found a pattern called Hammer on 2021 Jan 26 at 02:30 GMT on a 30 minute chart suggesting the outlook is bullish for up to 12 hours.

The Williams %R indicator triggered a bullish signal on 2021 Jan 26 at 02:30 GMT, having risen up out of oversold (-80 level) and continued on to cross above the -50 level.

SGD/JPY  Bearish

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

Target
Opportunity recognized 2021 Jan 26 for the period of up to 12 hours

0.000 (0 pips) price change since the Technical Event at 78.161

Technical Analysis

We found a pattern called Inside Bar (Bearish) on 2021 Jan 26 at 02:35 GMT on a 5 minute chart suggesting the outlook is bearish for up to 12 hours.

The price crossed below its moving average on 2021 Jan 26 at 02:35 GMT signaling a new downtrend has been established.

  1. Daily Analyst View

EUR/USD

may fall 21 – 36 pips

Pivot

1.2155

Our preference

Short positions below 1.2155 with targets at 1.2115 & 1.2100 in extension.

Alternative scenario

Above 1.2155 look for further upside with 1.2170 & 1.2185 as targets.

Comment

As long as the resistance at 1.2155 is not surpassed, the risk of the break below 1.2115 remains high.

GBP/USD

may fall 20 – 35 pips

Pivot

1.3685

Our preference

Short positions below 1.3685 with targets at 1.3645 & 1.3630 in extension.

Alternative scenario

Above 1.3685 look for further upside with 1.3700 & 1.3720 as targets.

Comment

The upward potential is likely to be limited by the resistance at 1.3685.

USD/CAD

may rise 35 – 55 pips

Pivot

1.2715

Our preference

Long positions above 1.2715 with targets at 1.2780 & 1.2800 in extension.

Alternative scenario

Below 1.2715 look for further downside with 1.2685 & 1.2660 as targets.

Comment

The RSI has just landed on its neutrality area at 50% and is turning up.

Gold

may fall to 1837.00 – 1847.00

Pivot

1860.00

Our preference

Short positions below 1860.00 with targets at 1847.00 & 1837.00 in extension.

Alternative scenario

Above 1860.00 look for further upside with 1867.00 & 1875.00 as targets.

Comment

The RSI is mixed.

Brent (ICE)

may rise to 56.20 – 56.60

Pivot

55.40

Our preference

Long positions above 55.40 with targets at 56.20 & 56.60 in extension.

Alternative scenario

Below 55.40 look for further downside with 55.00 & 54.50 as targets.

Comment

The RSI is mixed to bullish.

S&P 500 (CME)

may rise to 3860.00 – 3875.00

Pivot

3817.00

Our preference

Long positions above 3817.00 with targets at 3860.00 & 3875.00 in extension.

Alternative scenario

Below 3817.00 look for further downside with 3806.50 & 3788.00 as targets.

Comment

The RSI is mixed to bullish.

Dax (Eurex)

may fall to 13500.00 – 13588.00

Pivot

13790.00

Our preference

Short positions below 13790.00 with targets at 13588.00 & 13500.00 in extension.

Alternative scenario

Above 13790.00 look for further upside with 13903.00 & 13946.00 as targets.

Comment

The RSI has just struck against its neutrality area at 50% and is reversing down.

SGX FTSE China A50

may fall to 18570.00 – 18680.00

Pivot

18975.00

Our preference

Short positions below 18975.00 with targets at 18680.00 & 18570.00 in extension.

Alternative scenario

Above 18975.00 look for further upside with 19200.00 & 19400.00 as targets.

Comment

As long as 18975.00 is resistance, look for choppy price action 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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