Doo Prime Daily Featured Trading Strategies – February 05, 2021
1. Daily technical analysis of selected currency pairs
AUD/SGD Bullish
Image Features: forms “Outside Bar (Bullish)” pattern
Target
Opportunity recognized 2021 Feb 05 for the period of up to 12 hours
+0.00005 (05 pips) price change since the Technical Event at 1.01603
Technical Analysis
We found a pattern called Outside Bar (Bullish) on 2021 Feb 05 at 02:30 GMT on a 30 minute chart suggesting the outlook is bullish for up to 12 hours.
The price crossed above its moving average on 2021 Feb 05 at 02:30 GMT signaling a new uptrend has been established.
USD/EUR Bullish
Image Feature: forms “Hammer” pattern
Target
Opportunity recognized 2021 Feb 05 for the period of up to 12 hours
+0.00053 (53 pips) price change since the Technical Event at 0.83547
Technical Analysis
We found a pattern called Hammer on 2021 Feb 05 at 01:00 GMT on a 30 minute chart suggesting the outlook is bullish for up to 12 hours.
The Momentum oscillator crossed above 0 on 2021 Feb 05 at 02:30 GMT, thereby signaling a new accelerating uptrend.
2. Daily Analyst View
EUR/USD
may fall 13 – 38 pips
Pivot
1.1995
Our preference
Short positions below 1.1995 with targets at 1.1955 & 1.1930 in extension.
Alternative scenario
Above 1.1995 look for further upside with 1.2020 & 1.2040 as targets.
Comment
A break below 1.1955 would trigger a drop towards 1.1930.
GBP/USD
may rise 13 – 43 pips
Pivot
1.3650
Our preference
Long positions above 1.3650 with targets at 1.3700 & 1.3730 in extension.
Alternative scenario
Below 1.3650 look for further downside with 1.3630 & 1.3610 as targets.
Comment
The RSI is bullish and calls for further upside.
USD/CAD
may rise 16 – 36 pips
Pivot
1.2805
Our preference
Long positions above 1.2805 with targets at 1.2840 & 1.2860 in extension.
Alternative scenario
Below 1.2805 look for further downside with 1.2790 & 1.2775 as targets.
Comment
A support base at 1.2805 has formed and has allowed for a temporary stabilisation.
Gold
may fall to 1777.00 – 1785.00
Pivot
1808.00
Our preference
Short positions below 1808.00 with targets at 1785.00 & 1777.00 in extension.
Alternative scenario
Above 1808.00 look for further upside with 1819.00 & 1830.00 as targets.
Comment
The RSI is mixed with a bearish bias.
Brent (ICE)
may rise to 59.45 – 60.00
Pivot
58.60
Our preference
Long positions above 58.60 with targets at 59.45 & 60.00 in extension.
Alternative scenario
Below 58.60 look for further downside with 58.05 & 57.60 as targets.
Comment
The RSI is bullish and calls for further advance.
S&P 500 (CME)
may rise to 3875.00 – 3900.00
Pivot
3840.00
Our preference
Long positions above 3840.00 with targets at 3875.00 & 3900.00 in extension.
Alternative scenario
Below 3840.00 look for further downside with 3807.00 & 3780.00 as targets.
Comment
The RSI shows upside momentum.
Dax (Eurex)
may rise to 14120.00 – 14180.00
Pivot
13960.00
Our preference
Long positions above 13960.00 with targets at 14120.00 & 14180.00 in extension.
Alternative scenario
Below 13960.00 look for further downside with 13900.00 & 13850.00 as targets.
Comment
The RSI is bullish and calls for further advance.
SGX FTSE China A50
may rise to 19115.00 – 19230.00
Pivot
18780.00
Our preference
Long positions above 18780.00 with targets at 19115.00 & 19230.00 in extension.
Alternative scenario
Below 18780.00 look for further downside with 18660.00 & 18540.00 as targets.
Comment
The RSI is bullish and calls for further advance.
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.
