Doo Prime Daily Featured Trading Strategies – January 4, 2021
- Daily technical analysis of selected currency pairs
GBP/CAD Bearish
Image Features: forms “Hanging Man” pattern
Target
Opportunity recognized 2021 Jan 04 for the period of up to 48 hours
-0.00209 (209 pips) price change since the Technical Event at 1.74079
Technical Analysis
We found a pattern called Hanging Man on 2021 Jan 04 at 01:00 GMT on a 4 hour chart suggesting the outlook is bearish for up to 48 hours.
The CCI triggered a bearish signal on 2021 Jan 01 at 17:00 GMT by crossing below the -100% level.
AUD/USD Bullish
Image Features: forms “Triple Bottom” pattern
Target
Opportunity recognized 2021 Jan 03 for the period of up to 48 hours
+0.00131 (131 pips) price change since the Technical Event at 0.77040
Technical Analysis
We found a pattern called Triple Bottom on 2021 Jan 03 at 21:30 GMT on a 30 minute chart, providing a target price for up to 48 hours in the range of 0.81000 to 0.83000.
The faster moving average crossed above the slower moving average on 2021 Jan 03 at 22:00 GMT, signaling a new uptrend has been established.
- 2. Daily Analyst View
EUR/USD
may rise 25 – 45 pips
Pivot
1.2210
Our preference
Long positions above 1.2210 with targets at 1.2270 & 1.2290 in extension.
Alternative scenario
Below 1.2210 look for further downside with 1.2180 & 1.2160 as targets.
Comment
Technically the RSI is above its neutrality area at 50.
GBP/USD
may rise 22 – 42 pips
Pivot
1.3650
Our preference
Long positions above 1.3650 with targets at 1.3700 & 1.3720 in extension.
Alternative scenario
Below 1.3650 look for further downside with 1.3625 & 1.3600 as targets.
Comment
The RSI advocates for further advance.
USD/CAD
may fall 15 – 35 pips
Pivot
1.2750
Our preference
Short positions below 1.2750 with targets at 1.2710 & 1.2690 in extension.
Alternative scenario
Above 1.2750 look for further upside with 1.2770 & 1.2785 as targets.
Comment
The RSI calls for a drop.
Gold
may rise to 1919.00 – 1930.00
Pivot
1902.00
Our preference
Long positions above 1902.00 with targets at 1919.00 & 1930.00 in extension.
Alternative scenario
Below 1902.00 look for further downside with 1891.00 & 1885.00 as targets.
Comment
The RSI shows upside momentum.
Brent (ICE)
may rise to 52.30 – 52.55
Pivot
51.40
Our preference
Long positions above 51.40 with targets at 52.30 & 52.55 in extension.
Alternative scenario
Below 51.40 look for further downside with 51.10 & 50.90 as targets.
Comment
The RSI is bullish and calls for further upside.
S&P 500 (CME)
may rise to 3758.00 – 3765.00
Pivot
3735.00
Our preference
Long positions above 3735.00 with targets at 3758.00 & 3765.00 in extension.
Alternative scenario
Below 3735.00 look for further downside with 3727.00 & 3719.00 as targets.
Comment
The RSI is mixed to bullish.
Dax (Eurex)
may fall to 13520.00 – 13605.00
Pivot
13750.00
Our preference
Short positions below 13750.00 with targets at 13605.00 & 13520.00 in extension.
Alternative scenario
Above 13750.00 look for further upside with 13820.00 & 13895.00 as targets.
Comment
The RSI lacks upward momentum.
SGX FTSE China A50
may rise to 17750.00 – 17900.00
Pivot
17500.00
Our preference
Long positions above 17500.00 with targets at 17750.00 & 17900.00 in extension.
Alternative scenario
Below 17500.00 look for further downside with 17420.00 & 17330.00 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.
