Doo Prime Daily Featured Trading Strategies – January 8, 2021 - Doo Prime News
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Doo Prime Daily Featured Trading Strategies – January 8, 2021 

  1. Daily technical analysis of selected currency pairs 

GBP/CAD Bullish

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

Target

Opportunity recognized 2021 Jan 08 for the period of up to 48 hours

-0.00038 (38 pips) price change since the Technical Event at 1.72031

Technical Analysis

We found a pattern called Inside Bar (Bullish) on 2021 Jan 08 at 01:00 GMT on a 4 hour chart suggesting the outlook is bullish for up to 48 hours.

The Williams %R indicator triggered a bullish signal on 2021 Jan 07 at 13:00 GMT, having risen up out of oversold (-80 level) and continued on to cross above the -50 level.

AUD/SGD   Bullish

Image Features:  forms “Megaphone Bottom” pattern

Target
Opportunity recognized 2021 Jan 07 for the period of up to 48 hours

+0.00210 (21 pips) price change since the Technical Event at 1.02652

Technical Analysis

We found a pattern called Megaphone Bottom on 2021 Jan 07 at 15:45 GMT on a 15 minute chart, providing a target price for up to 48 hours in the range of 1.03000 to 1.04000.

The price crossed above its moving average on 2021 Jan 07 at 15:15 GMT signaling a new uptrend has been established.

  1. Daily Analyst View

EUR/USD

may fall 31 – 61 pips

Pivot

1.2280

Our preference

Short positions below 1.2280 with targets at 1.2210 & 1.2180 in extension.

Alternative scenario

Above 1.2280 look for further upside with 1.2305 & 1.2325 as targets.

Comment

As long as 1.2280 is resistance, likely decline to 1.2210.

GBP/USD

may fall 17 – 47 pips

Pivot

1.3580

Our preference

Short positions below 1.3580 with targets at 1.3530 & 1.3500 in extension.

Alternative scenario

Above 1.3580 look for further upside with 1.3610 & 1.3635 as targets.

Comment

The RSI calls for a new downleg.

USD/CAD

may fall 22 – 57 pips

Pivot

1.2710

Our preference

Short positions below 1.2710 with targets at 1.2660 & 1.2625 in extension.

Alternative scenario

Above 1.2710 look for further upside with 1.2735 & 1.2775 as targets.

Comment

The RSI advocates for further decline.

Gold

may fall to 1890.00 – 1900.00

Pivot

1928.00

Our preference

Short positions below 1928.00 with targets at 1900.00 & 1890.00 in extension.

Alternative scenario

Above 1928.00 look for further upside with 1935.00 & 1946.00 as targets.

Comment

Intraday technical indicators are mixed.

Brent (ICE)

may rise to 54.90 – 55.65

Pivot

53.75

Our preference

Long positions above 53.75 with targets at 54.90 & 55.65 in extension.

Alternative scenario

Below 53.75 look for further downside with 53.00 & 52.45 as targets.

Comment

The RSI is mixed to bullish.

 

S&P 500 (CME)

may rise to 3828.00 – 3849.00

Pivot

3770.00

Our preference

Long positions above 3770.00 with targets at 3828.00 & 3849.00 in extension.

Alternative scenario

Below 3770.00 look for further downside with 3746.00 & 3718.00 as targets.

Comment

The RSI is bullish and calls for further upside.

Dax (Eurex)

may rise to 14125.00 – 14250.00

Pivot

13883.00

Our preference

Long positions above 13883.00 with targets at 14125.00 & 14250.00 in extension.

Alternative scenario

Below 13883.00 look for further downside with 13780.00 & 13715.00 as targets.

Comment

The RSI advocates for further upside.

SGX FTSE China A50

may rise to 19120.00 – 19320.00

Pivot

18600.00

Our preference

Long positions above 18600.00 with targets at 19120.00 & 19320.00 in extension.

Alternative scenario

Below 18600.00 look for further downside with 18380.00 & 18180.00 as targets.

Comment

The RSI is mixed with a bullish 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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