Doo Prime Daily Featured Trading Strategies – January 4, 2021 - Doo Prime News
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Doo Prime Daily Featured Trading Strategies – January 4, 2021 

  1. Daily technical analysis of selected currency pairs 

GBP/CAD Bearish

Image Features:   forms “Hanging Man” pattern

Target

Opportunity recognized 2021 Jan 04 for the period of up to 48 hours

-0.00209 (209 pips) price change since the Technical Event at 1.74079

Technical Analysis

We found a pattern called Hanging Man on 2021 Jan 04 at 01:00 GMT on a 4 hour chart suggesting the outlook is bearish for up to 48 hours.

The CCI triggered a bearish signal on 2021 Jan 01 at 17:00 GMT by crossing below the -100% level.

AUD/USD    Bullish

Image Features:  forms “Triple Bottom” pattern

Target
Opportunity recognized 2021 Jan 03 for the period of up to 48 hours

+0.00131 (131 pips) price change since the Technical Event at 0.77040

Technical Analysis

We found a pattern called Triple Bottom on 2021 Jan 03 at 21:30 GMT on a 30 minute chart, providing a target price for up to 48 hours in the range of 0.81000 to 0.83000.

The faster moving average crossed above the slower moving average on 2021 Jan 03 at 22:00 GMT, signaling a new uptrend has been established.

  1. 2. Daily Analyst View

EUR/USD

may rise 25 – 45 pips

Pivot

1.2210

Our preference

Long positions above 1.2210 with targets at 1.2270 & 1.2290 in extension.

Alternative scenario

Below 1.2210 look for further downside with 1.2180 & 1.2160 as targets.

Comment

Technically the RSI is above its neutrality area at 50.

GBP/USD

may rise 22 – 42 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 1.3625 & 1.3600 as targets.

Comment

The RSI advocates for further advance.

USD/CAD

may fall 15 – 35 pips

Pivot

1.2750

Our preference

Short positions below 1.2750 with targets at 1.2710 & 1.2690 in extension.

Alternative scenario

Above 1.2750 look for further upside with 1.2770 & 1.2785 as targets.

Comment

The RSI calls for a drop.

Gold

may rise to 1919.00 – 1930.00

Pivot

1902.00

Our preference

Long positions above 1902.00 with targets at 1919.00 & 1930.00 in extension.

Alternative scenario

Below 1902.00 look for further downside with 1891.00 & 1885.00 as targets.

Comment

The RSI shows upside momentum.

Brent (ICE)

may rise to 52.30 – 52.55

Pivot

51.40

Our preference

Long positions above 51.40 with targets at 52.30 & 52.55 in extension.

Alternative scenario

Below 51.40 look for further downside with 51.10 & 50.90 as targets.

Comment

The RSI is bullish and calls for further upside.

S&P 500 (CME)

may rise to 3758.00 – 3765.00

Pivot

3735.00

Our preference

Long positions above 3735.00 with targets at 3758.00 & 3765.00 in extension.

Alternative scenario

Below 3735.00 look for further downside with 3727.00 & 3719.00 as targets.

Comment

The RSI is mixed to bullish.

Dax (Eurex)

may fall to 13520.00 – 13605.00

Pivot

13750.00

Our preference

Short positions below 13750.00 with targets at 13605.00 & 13520.00 in extension.

Alternative scenario

Above 13750.00 look for further upside with 13820.00 & 13895.00 as targets.

Comment

The RSI lacks upward momentum.

SGX FTSE China A50

may rise to 17750.00 – 17900.00

Pivot

17500.00

Our preference

Long positions above 17500.00 with targets at 17750.00 & 17900.00 in extension.

Alternative scenario

Below 17500.00 look for further downside with 17420.00 & 17330.00 as targets.

Comment

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

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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