Doo Prime Daily Featured Trading Strategies – February 09, 2021
- Daily technical analysis of selected currency pairs
GBP/AUD 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.
EUR/HKD Bearish
Image Features: forms “Inside Bar (Bearish)” pattern
Target
Opportunity recognized 2021 Feb 09 for the period of up to 12 hours
+0.01595 (1595 pips) price change since the Technical Event at 9.34836
Technical Analysis
We found a pattern called Inside Bar (Bearish) on 2021 Feb 09 at 02:00 GMT on a 30 minute chart suggesting the outlook is bearish for up to 12 hours.
The price broke above the upper Bollinger Band on 2021 Feb 09 at 02:30 GMT, suggesting the price is over-extended and may reverse.
- Daily Analyst’s View
EUR/USD
may rise 15 – 30 pips
Pivot
1.2035
Our preference
Long positions above 1.2035 with targets at 1.2070 & 1.2085 in extension.
Alternative scenario
Below 1.2035 look for further downside with 1.2020 & 1.2000 as targets.
Comment
The RSI has just landed on its neutrality area at 50% and is turning up.
GBP/USD
may rise 20 – 50 pips
Pivot
1.3720
Our preference
Long positions above 1.3720 with targets at 1.3770 & 1.3800 in extension.
Alternative scenario
Below 1.3720 look for further downside with 1.3700 & 1.3680 as targets.
Comment
The RSI is bullish and calls for further advance.
USD/CAD
may fall 28 – 43 pips
Pivot
1.2755
Our preference
Short positions below 1.2755 with targets at 1.2700 & 1.2685 in extension.
Alternative scenario
Above 1.2755 look for further upside with 1.2780 & 1.2805 as targets.
Comment
The RSI calls for a new downleg.
Gold
may rise to 1845.00 – 1854.00
Pivot
1823.00
Our preference
Long positions above 1823.00 with targets at 1845.00 & 1854.00 in extension.
Alternative scenario
Below 1823.00 look for further downside with 1818.00 & 1808.00 as targets.
Comment
The RSI is bullish and calls for further upside.
Brent (ICE)
may rise to 61.35 – 61.80
Pivot
60.20
Our preference
Long positions above 60.20 with targets at 61.35 & 61.80 in extension.
Alternative scenario
Below 60.20 look for further downside with 59.75 & 59.40 as targets.
Comment
The immediate trend remains up and the momentum is strong.
S&P 500 (CME)
may rise to 3920.00 – 3940.00
Pivot
3885.00
Our preference
Long positions above 3885.00 with targets at 3920.00 & 3940.00 in extension.
Alternative scenario
Below 3885.00 look for further downside with 3868.00 & 3852.00 as targets.
Comment
The RSI is mixed to bullish.
Dax (Eurex)
may fall to 13940.00 – 14000.00
Pivot
14120.00
Our preference
Short positions below 14120.00 with targets at 14000.00 & 13940.00 in extension.
Alternative scenario
Above 14120.00 look for further upside with 14185.00 & 14250.00 as targets.
Comment
The RSI is bearish and calls for further decline.
SGX FTSE China A50
may rise to 19375.00 – 19570.00
Pivot
19070.00
Our preference
Long positions above 19070.00 with targets at 19375.00 & 19570.00 in extension.
Alternative scenario
Below 19070.00 look for further downside with 18940.00 & 18780.00 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.
