Doo Prime Daily Featured Trading Strategies – January 14, 2021
1. Daily technical analysis of selected currency pairs
GBP/JPY Bullish
Image Features: forms “Engulfing Line (Bullish)” pattern
Target
Opportunity recognized 2021 Jan 15 for the period of up to 12 hours
-0.020 (2 pips) price change since the Technical Event at 142.030
Technical Analysis
We found a pattern called Engulfing Line (Bullish) on 2021 Jan 15 at 03:00 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 2021 Jan 15 at 03:00 GMT, having risen up out of oversold (-80 level) and continued on to cross above the -50 level.
GBP/EUR Bearish
Image Features: forms “Two Bar Reversal (Bearish)” pattern
Target
Opportunity recognized 2021 Jan 15 for the period of up to 12 hours
-0.00010 (1 pips) price change since the Technical Event at 1.12609
Technical Analysis
We found a pattern called Two Bar Reversal (Bearish) on 2021 Jan 15 at 03:15 GMT on a 15 minute chart suggesting the outlook is bearish for up to 12 hours.
The Momentum oscillator crossed below 0 on 2021 Jan 15 at 03:15 GMT, thereby signaling a new accelerating downtrend.
2. Daily Analyst View
EUR/USD
may rise 29 – 49 pips
Pivot
1.2130
Our preference
Long positions above 1.2130 with targets at 1.2180 & 1.2200 in extension.
Alternative scenario
Below 1.2130 look for further downside with 1.2110 & 1.2090 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
GBP/USD
may rise 41 – 66 pips
Pivot
1.3655
Our preference
Long positions above 1.3655 with targets at 1.3725 & 1.3750 in extension.
Alternative scenario
Below 1.3655 look for further downside with 1.3620 & 1.3585 as targets.
Comment
The RSI advocates for further advance.
USD/CAD
may fall 25 – 45 pips
Pivot
1.2670
Our preference
Short positions below 1.2670 with targets at 1.2620 & 1.2600 in extension.
Alternative scenario
Above 1.2670 look for further upside with 1.2700 & 1.2725 as targets.
Comment
A break below 1.2620 would trigger a drop towards 1.2600.
Gold
may rise to 1864.00 – 1877.00
Pivot
1840.00
Our preference
Long positions above 1840.00 with targets at 1864.00 & 1877.00 in extension.
Alternative scenario
Below 1840.00 look for further downside with 1828.00 & 1816.00 as targets.
Comment
The RSI is mixed to bullish.
Brent (ICE)
may rise to 56.85 – 57.40
Pivot
55.85
Our preference
Long positions above 55.85 with targets at 56.85 & 57.40 in extension.
Alternative scenario
Below 55.85 look for further downside with 55.50 & 55.25 as targets.
Comment
The RSI calls for a rebound.
S&P 500 (CME)
may fall to 3749.00 – 3768.00
Pivot
3807.00
Our preference
Short positions below 3807.00 with targets at 3768.00 & 3749.00 in extension.
Alternative scenario
Above 3807.00 look for further upside with 3817.00 & 3824.00 as targets.
Comment
The RSI is bearish and calls for further decline.
Dax (Eurex)
may rise to 14040.00 – 14085.00
Pivot
13920.00
Our preference
Long positions above 13920.00 with targets at 14040.00 & 14085.00 in extension.
Alternative scenario
Below 13920.00 look for further downside with 13855.00 & 13790.00 as targets.
Comment
The RSI is mixed and calls for caution.
SGX FTSE China A50
may rise to 18730.00 – 18865.00
Pivot
18475.00
Our preference
Long positions above 18475.00 with targets at 18730.00 & 18865.00 in extension.
Alternative scenario
Below 18475.00 look for further downside with 18335.00 & 18200.00 as targets.
Comment
The RSI calls for a rebound.
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.
