Doo Prime Daily Featured Trading Strategies – January 28, 2021 

1. Daily technical analysis of selected currency pairs 

NZD/USD  Bullish

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

Target

Opportunity recognized 2021 Jan 28 for the period of up to 12 hours

+0.00003 (03 pips) price change since the Technical Event at 0.71488

Technical Analysis

We found a pattern called Outside Bar (Bullish) on 2021 Jan 28 at 02:00 GMT on a 1 hour chart suggesting the outlook is bullish for up to 12 hours.

The RSI rose above 30 on 2021 Jan 28 at 02:00 GMT, telling us the price is starting to recover from being oversold.

CAD/MXN   Bullish

Image Features: forms “Hammer” pattern

Target
Opportunity recognized 2021 Jan 28 for the period of up to 12 hours

-0.00451 (451 pips) price change since the Technical Event at 15.81990

Technical Analysis

We found a pattern called Hammer on 2021 Jan 28 at 02:05 GMT on a 5 minute chart suggesting the outlook is bullish for up to 12 hours.

A bullish event triggered for Slow Stochastics on 2021 Jan 28 at 02:10 GMT when the %K line crossed above the %D line. The close prices are trading closer to the upper end of the recent high-low price range, which is associated with price increases.

2. Daily Analyst View

EUR/USD

may fall 18 – 38 pips

Pivot

1.2125

Our preference

Short positions below 1.2125 with targets at 1.2075 & 1.2055 in extension.

Alternative scenario

Above 1.2125 look for further upside with 1.2145 & 1.2170 as targets.

Comment

A break below 1.2075 would trigger a drop towards 1.2055.

GBP/USD

may fall 30 – 55 pips

Pivot

1.3700

Our preference

Short positions below 1.3700 with targets at 1.3635 & 1.3610 in extension.

Alternative scenario

Above 1.3700 look for further upside with 1.3725 & 1.3755 as targets.

Comment

Technically the RSI is below its neutrality area at 50.

USD/CAD

may rise 44 – 69 pips

Pivot

1.2780

Our preference

Long positions above 1.2780 with targets at 1.2860 & 1.2885 in extension.

Alternative scenario

Below 1.2780 look for further downside with 1.2745 & 1.2705 as targets.

Comment

The break above 1.2780 is a positive signal that has opened a path to 1.2860.

Gold

may fall to 1822.00 – 1831.00

Pivot

1849.00

Our preference

Short positions below 1849.00 with targets at 1831.00 & 1822.00 in extension.

Alternative scenario

Above 1849.00 look for further upside with 1860.00 & 1868.00 as targets.

Comment

The RSI is bearish and calls for further downside.

Brent (ICE)

may fall to 54.60 – 54.95

Pivot

55.85

Our preference

Short positions below 55.85 with targets at 54.95 & 54.60 in extension.

Alternative scenario

Above 55.85 look for further upside with 56.20 & 56.50 as targets.

Comment

The RSI is mixed to bearish.

S&P 500 (CME)

may fall to 3652.00 – 3686.00

Pivot

3763.00

Our preference

Short positions below 3763.00 with targets at 3686.00 & 3652.00 in extension.

Alternative scenario

Above 3763.00 look for further upside with 3791.00 & 3808.00 as targets.

Comment

The RSI is mixed to bearish.

Dax (Eurex)

may fall to 13295.00 – 13464.00

Pivot

13655.00

Our preference

Short positions below 13655.00 with targets at 13464.00 & 13295.00 in extension.

Alternative scenario

Above 13655.00 look for further upside with 13745.00 & 13800.00 as targets.

Comment

As long as the resistance at 13655.00 is not surpassed, the risk of the break below 13464.00 remains high.

SGX FTSE China A50

may fall to 18060.00 – 18180.00

Pivot

18470.00

Our preference

Short positions below 18470.00 with targets at 18180.00 & 18060.00 in extension.

Alternative scenario

Above 18470.00 look for further upside with 18600.00 & 18715.00 as targets.

Comment

The RSI shows downside momentum.

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.