Doo Prime Daily Featured Trading Strategies – October 21, 2020 - Doo Prime News
Doo Prime News > Important Notice > Doo Prime Daily Featured Trading Strategies – October 21, 2020

Doo Prime Daily Featured Trading Strategies – October 21, 2020 

  1. Daily technical analysis of selected currency pairs 

EUR/JPY Bullish

Image Features: forms “Engulfing Line (Bullish)” pattern

Target

Opportunity recognized 2020 Oct 21 for the period of up to 12 hours

-0.008 (08 pips) price change since the Technical Event at 124.753

Technical Analysis

We found a pattern called Engulfing Line (Bullish) on 2020 Oct 21 at 02:00 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 2020 Oct 21 at 02:00 GMT, having risen up out of oversold (-80 level) and continued on to cross above the -50 level.

GBP/JPY Bearish

Image Features: forms “Flag (Bearish)” pattern

Target

Opportunity recognized 2020 Oct 21 for the period of up to 12 hours

+0.097 (97 pips) price change since the Technical Event at 136.563

Technical Analysis

We found a pattern called Flag (Bearish) on 2020 Oct 21 at 01:00 GMT on a 30 minute chart, providing a target price for up to 12 hours in the range of 135.800 to 135.950.

A bearish event triggered for Slow Stochastics on 2020 Oct 21 at 02:00 GMT when the %K line crossed below the %D line. The close prices are trading closer to the lower end of the recent high-low price range, which is associated with price decreases

  1. Daily analyst View

 EUR/USD

may rise 16 – 36 pips

Pivot

1.1805

Our preference

Long positions above 1.1805 with targets at 1.1850 & 1.1870 in extension.

Alternative scenario

Below 1.1805 look for further downside with 1.1780 & 1.1760 as targets.

Comment

The RSI calls for a new upleg.

GBP/USD

may rise 17 – 37 pips

Pivot

1.2935

Our preference

Long positions above 1.2935 with targets at 1.2980 & 1.3000 in extension.

Alternative scenario

Below 1.2935 look for further downside with 1.2910 & 1.2895 as targets.

Comment

The RSI is bullish and calls for further upside.

USD/CAD

may fall 21 – 41 pips


Pivot

1.3145

Our preference

Short positions below 1.3145 with targets at 1.3090 & 1.3070 in extension.

Alternative scenario

Above 1.3145 look for further upside with 1.3170 & 1.3200 as targets.

Comment

The break below 1.3145 is a negative signal that has opened a path to 1.3090.

Gold spot

may rise to 1925.00 – 1932.00

Pivot

1904.00

Our preference

Long positions above 1904.00 with targets at 1925.00 & 1932.00 in extension.

Alternative scenario

Below 1904.00 look for further downside with 1899.00 & 1894.00 as targets.

Comment

The RSI advocates for further advance.

Brent (ICE)

may rise to 43.30 – 43.45

Pivot

42.65

Our preference

Long positions above 42.65 with targets at 43.30 & 43.45 in extension.

Alternative scenario

Below 42.65 look for further downside with 42.40 & 42.20 as targets.

Comment

The RSI is mixed with a bullish bias.

S&P 500 (CME)

may fall to 3380.00 – 3411.00

Pivot

3470.00

Our preference

Short positions below 3470.00 with targets at 3411.00 & 3380.00 in extension.

Alternative scenario

Above 3470.00 look for further upside with 3485.00 & 3510.00 as targets.

Comment

Intraday technical indicators are mixed.

Dax (Eurex)

may fall to 12581.00 – 12690.00

 

Pivot

12885.00

Our preference

Short positions below 12885.00 with targets at 12690.00 & 12581.00 in extension.

Alternative scenario

Above 12885.00 look for further upside with 13015.00 & 13090.00 as targets.

Comment

The RSI lacks momentum.

SGX FTSE China A50

may fall to 16080.00 – 16255.00

 

Pivot

15850.00

Our preference

Long positions above 15850.00 with targets at 16080.00 & 16255.00 in extension.

Alternative scenario

Below 15850.00 look for further downside with 15790.00 & 15660.00 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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