Doo Prime Daily Featured Trading Strategies – January 14, 2021
- Daily technical analysis of selected currency pairs
NZD/JPY Bullish
Image Features: forms “Diamond Bottom” pattern
Target
Opportunity recognized 2021 Jan 14 for the period of up to 48 hours
+0.099 (99 pips) price change since the Technical Event at 74.723
Technical Analysis
We found a pattern called Diamond Bottom on 2021 Jan 14 at 03:00 GMT on a 30 minute chart, providing a target price for up to 48 hours in the range of 75.030 to 75.090.
The price crossed above its moving average on 2021 Jan 14 at 03:00 GMT signaling a new uptrend has been established.
AUD/JPY Bullish
Image Features: forms “Flag (Bullish)” pattern
Target
Opportunity recognized 2021 Jan 13 for the period of up to 48 hours
+0.151 (151 pips) price change since the Technical Event at 80.404
Technical Analysis
We found a pattern called Flag (Bullish) on 2021 Jan 13 at 16:00 GMT on a 1 hour chart, providing a target price for up to 48 hours in the range of 80.610 to 80.650.
On 2021 Jan 14 at 03:00 GMT, the 4-bar Moving Average crossed above the 9-bar MA which crossed above the 18-bar MA, signaling a new uptrend has been established.
- Daily Analyst View
EUR/USD
may fall 17 – 32 pips
Pivot
1.2180
Our preference
Short positions below 1.2180 with targets at 1.2150 & 1.2135 in extension.
Alternative scenario
Above 1.2180 look for further upside with 1.2200 & 1.2220 as targets.
Comment
The upward potential is likely to be limited by the resistance at 1.2180.
GBP/USD
may fall 27 – 42 pips
Pivot
1.3665
Our preference
Short positions below 1.3665 with targets at 1.3625 & 1.3610 in extension.
Alternative scenario
Above 1.3665 look for further upside with 1.3700 & 1.3725 as targets.
Comment
Intraday technical indicators are mixed and call for caution.
USD/CAD
may fall 40 – 65 pips
Pivot
1.2740
Our preference
Short positions below 1.2740 with targets at 1.2655 & 1.2630 in extension.
Alternative scenario
Above 1.2740 look for further upside with 1.2765 & 1.2790 as targets.
Comment
The RSI advocates for further downside.
Gold
may rise to 1864.00 – 1877.00
Pivot
1837.00
Our preference
Long positions above 1837.00 with targets at 1864.00 & 1877.00 in extension.
Alternative scenario
Below 1837.00 look for further downside with 1829.00 & 1816.00 as targets.
Comment
Intraday technical indicators are mixed and call for caution.
Brent (ICE)
may fall to 55.00 – 55.40
Pivot
56.60
Our preference
Short positions below 56.60 with targets at 55.40 & 55.00 in extension.
Alternative scenario
Above 56.60 look for further upside with 57.00 & 57.40 as targets.
Comment
As long as 56.60 is resistance, expect a return to 55.40.
S&P 500 (CME)
may fall to 3768.00 – 3780.00
Pivot
3824.00
Our preference
Short positions below 3824.00 with targets at 3780.00 & 3768.00 in extension.
Alternative scenario
Above 3824.00 look for further upside with 3838.00 & 3849.00 as targets.
Comment
The RSI is mixed with a bearish bias.
Dax (Eurex)
may rise to 14040.00 – 14085.00
Pivot
13855.00
Our preference
Long positions above 13855.00 with targets at 14040.00 & 14085.00 in extension.
Alternative scenario
Below 13855.00 look for further downside with 13790.00 & 13709.00 as targets.
Comment
The RSI lacks downward momentum.
SGX FTSE China A50
may fall to 18335.00 – 18575.00
Pivot
18875.00
Our preference
Short positions below 18875.00 with targets at 18575.00 & 18335.00 in extension.
Alternative scenario
Above 18875.00 look for further upside with 19110.00 & 19330.00 as targets.
Comment
The RSI is bearish and calls for further decline.
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.
