Doo Prime Daily Featured Trading Strategies – January 12, 2021
- Daily technical analysis of selected currency pairs
GBP/AUD Bearish
Image Features: forms “Engulfing Line (Bearish)” pattern
Target
Opportunity recognized 2021 Jan 12 for the period of up to 48 hours
+0.00527 (527 pips) price change since the Technical Event at 1.75753
Technical Analysis
We found a pattern called Engulfing Line (Bearish) on 2021 Jan 12 at 21:00 GMT on a 4 hour chart suggesting the outlook is bearish for up to 48 hours.
A bearish event triggered for Fast Stochastics on 2021 Jan 13 at 01:00 GMT when the %K line crossed below the %D line. The close prices are trading closer to the lower end of the recent high-low price range, which is associated with price decreases
GBP/NZD Bearish
Image Features: forms “Engulfing Line (Bearish)” pattern
Target
Opportunity recognized 2021 Jan 12 for the period of up to 48 hours
+0.00219 (219 pips) price change since the Technical Event at 1.89081
Technical Analysis
We found a pattern called Engulfing Line (Bearish) on 2021 Jan 12 at 21:00 GMT on a 4 hour chart suggesting the outlook is bearish for up to 48 hours.
The RSI fallen below 70 on 2021 Jan 12 at 21:00 GMT, telling us the price is starting to pull back from being overbought.
- Daily Analyst View
EUR/USD
may rise 11 – 46 pips
Pivot
1.2180
Our preference
Long positions above 1.2180 with targets at 1.2230 & 1.2265 in extension.
Alternative scenario
Below 1.2180 look for further downside with 1.2160 & 1.2135 as targets.
Comment
The break above 1.2180 is a positive signal that has opened a path to 1.2230.
GBP/USD
may rise 42 – 77 pips
Pivot
1.3635
Our preference
Long positions above 1.3635 with targets at 1.3735 & 1.3770 in extension.
Alternative scenario
Below 1.3635 look for further downside with 1.3600 & 1.3570 as targets.
Comment
The RSI is bullish and calls for further advance.
USD/CAD
may fall 27 – 57 pips
Pivot
1.2755
Our preference
Short positions below 1.2755 with targets at 1.2685 & 1.2655 in extension.
Alternative scenario
Above 1.2755 look for further upside with 1.2790 & 1.2820 as targets.
Comment
The RSI calls for a new downleg.
Gold
may rise to 1877.00 – 1894.00
Pivot
1845.00
Our preference
Long positions above 1845.00 with targets at 1877.00 & 1894.00 in extension.
Alternative scenario
Below 1845.00 look for further downside with 1829.00 & 1816.00 as targets.
Comment
The RSI is mixed with a bullish bias.
Brent (ICE)
may rise to 57.80 – 58.20
Pivot
56.60
Our preference
Long positions above 56.60 with targets at 57.80 & 58.20 in extension.
Alternative scenario
Below 56.60 look for further downside with 56.00 & 55.50 as targets.
Comment
The RSI is bullish and calls for further advance.
S&P 500 (CME)
may fall to 3748.00 – 3768.00
Pivot
3824.00
Our preference
Short positions below 3824.00 with targets at 3768.00 & 3748.00 in extension.
Alternative scenario
Above 3824.00 look for further upside with 3838.00 & 3849.00 as targets.
Comment
Intraday technical indicators are mixed.
Dax (Eurex)
may fall to 13790.00 – 13830.00
Pivot
13990.00
Our preference
Short positions below 13990.00 with targets at 13830.00 & 13790.00 in extension.
Alternative scenario
Above 13990.00 look for further upside with 14085.00 & 14120.00 as targets.
Comment
The RSI is mixed with a bearish bias.
SGX FTSE China A50
may rise to 19110.00 – 19330.00
Pivot
18755.00
Our preference
Long positions above 18755.00 with targets at 19110.00 & 19330.00 in extension.
Alternative scenario
Below 18755.00 look for further downside with 18575.00 & 18335.00 as targets.
Comment
The RSI advocates 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.
