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HomeDoo Prime Daily Featured Trading Strategies – January 26, 2021
- 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.
- 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.
