Doo Prime Daily Featured Trading Strategies – February 03, 2021
- Daily technical analysis of selected currency pairs
NZD/CAD Bullish
Image Features: forms “Inside Bar (Bullish)” pattern
Target
Opportunity recognized 2021 Feb 03 for the period of up to 12 hours
+0.00060 (5 pips) price change since the Technical Event at 0.92094
Technical Analysis
We found a pattern called Inside Bar (Bullish) on 2021 Feb 03 at 02:10 GMT on a 5 minute chart suggesting the outlook is bullish for up to 12 hours.
The Momentum oscillator crossed above 0 on 2021 Feb 03 at 02:15 GMT, thereby signaling a new accelerating uptrend.
GBP/SGD Bullish
Image Features: forms “Outside Bar (Bullish)” pattern
Target
Opportunity recognized 2021 Feb 03 for the period of up to 12 hours
+0.00023 (23 pips) price change since the Technical Event at 1.82014
Technical Analysis
We found a pattern called Outside Bar (Bullish) on 2021 Feb 03 at 01:30 GMT on a 30 minute chart suggesting the outlook is bullish for up to 12 hours.
The CCI triggered a bullish signal on 2021 Feb 03 at 02:00 GMT by crossing above the +100% level.
- Daily Analyst View
EUR/USD
may fall 22 – 37 pips
Pivot
1.2060
Our preference
Short positions below 1.2060 with targets at 1.2025 & 1.2010 in extension.
Alternative scenario
Above 1.2060 look for further upside with 1.2085 & 1.2105 as targets.
Comment
The upward potential is likely to be limited by the resistance at 1.2060.
GBP/USD
may rise 6 – 31 pips
Pivot
1.3655
Our preference
Long positions above 1.3655 with targets at 1.3685 & 1.3710 in extension.
Alternative scenario
Below 1.3655 look for further downside with 1.3635 & 1.3610 as targets.
Comment
The RSI calls for a new upleg.
USD/CAD
may fall 28 – 53 pips
Pivot
1.2825
Our preference
Short positions below 1.2825 with targets at 1.2760 & 1.2735 in extension.
Alternative scenario
Above 1.2825 look for further upside with 1.2845 & 1.2870 as targets.
Comment
The RSI is bearish and calls for further decline.
Gold
may fall to 1820.00 – 1829.00
Pivot
1845.00
Our preference
Short positions below 1845.00 with targets at 1829.00 & 1820.00 in extension.
Alternative scenario
Above 1845.00 look for further upside with 1854.00 & 1863.00 as targets.
Comment
The RSI is mixed with a bearish bias.
Brent (ICE)
may rise to 58.05 – 58.70
Pivot
57.10
Our preference
Long positions above 57.10 with targets at 58.05 & 58.70 in extension.
Alternative scenario
Below 57.10 look for further downside with 56.65 & 56.20 as targets.
Comment
The RSI is mixed with a bullish bias.
S&P 500 (CME)
may rise to 3858.00 – 3891.00
Pivot
3800.00
Our preference
Long positions above 3800.00 with targets at 3858.00 & 3891.00 in extension.
Alternative scenario
Below 3800.00 look for further downside with 3780.00 & 3750.00 as targets.
Comment
The RSI is mixed to bullish.
Dax (Eurex)
may rise to 14000.00 – 14060.00
Pivot
13745.00
Our preference
Long positions above 13745.00 with targets at 14000.00 & 14060.00 in extension.
Alternative scenario
Below 13745.00 look for further downside with 13670.00 & 13630.00 as targets.
Comment
The immediate trend remains up and the momentum is strong.
SGX FTSE China A50
may rise to 18715.00 – 18880.00
Pivot
18390.00
Our preference
Long positions above 18390.00 with targets at 18715.00 & 18880.00 in extension.
Alternative scenario
Below 18390.00 look for further downside with 18200.00 & 18060.00 as targets.
Comment
The RSI is mixed to bullish.
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.
