Doo Prime Daily Featured Trading Strategies – January 25, 2021
1. Daily technical analysis of selected currency pairs
AUD/CAD Bullish
Image Features: forms “Inside Bar (Bullish)” pattern
Target
Opportunity recognized 2021 Jan 25 for the period of up to 12 hours
+0.00028 (29 pips) price change since the Technical Event at 0.98157
Technical Analysis
We found a pattern called Inside Bar (Bullish) on 2021 Jan 25 at 02:00 GMT on a 15 minute chart suggesting the outlook is bullish for up to 12 hours.
The price crossed above its moving average on 2021 Jan 25 at 02:15 GMT signaling a new uptrend has been established.
AUD/JPY Bearish
Image Features:forms “Inside Bar (Bearish)” pattern
Target
Opportunity recognized 2021 Jan 25 for the period of up to 12 hours
+0.055 (55 pips) price change since the Technical Event at 80.116
Technical Analysis
We found a pattern called Inside Bar (Bearish) on 2021 Jan 25 at 02:00 GMT on a 1 hour chart suggesting the outlook is bearish for up to 12 hours.
The Momentum oscillator crossed below 0 on 2021 Jan 25 at 02:00 GMT, thereby signaling a new accelerating downtrend.
2. Daily Analyst View
EUR/USD
may fall 14 – 29 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
As long as the resistance at 1.2180 is not surpassed, the risk of the break below 1.2150 remains high.
GBP/USD
may rise 15 – 35 pips
Pivot
1.3660
Our preference
Long positions above 1.3660 with targets at 1.3700 & 1.3720 in extension.
Alternative scenario
Below 1.3660 look for further downside with 1.3635 & 1.3620 as targets.
Comment
The RSI advocates for further upside.
USD/CAD
may rise 20 – 40 pips
Pivot
1.2700
Our preference
Long positions above 1.2700 with targets at 1.2740 & 1.2760 in extension.
Alternative scenario
Below 1.2700 look for further downside with 1.2680 & 1.2650 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Gold
may rise to 1865.00 – 1875.00
Pivot
1845.00
Our preference
Long positions above 1845.00 with targets at 1865.00 & 1875.00 in extension.
Alternative scenario
Below 1845.00 look for further downside with 1837.00 & 1832.00 as targets.
Comment
The RSI is mixed with a bullish bias.
Brent (ICE)
may rise to 55.70 – 56.20
Pivot
55.00
Our preference
Long positions above 55.00 with targets at 55.70 & 56.20 in extension.
Alternative scenario
Below 55.00 look for further downside with 54.50 & 53.95 as targets.
Comment
The RSI calls for a bounce.
S&P 500 (CME)
may rise to 3860.00 – 3875.00
Pivot
3830.00
Our preference
Long positions above 3830.00 with targets at 3860.00 & 3875.00 in extension.
Alternative scenario
Below 3830.00 look for further downside with 3813.00 & 3800.00 as targets.
Comment
The RSI is bullish and calls for further advance.
Dax (Eurex)
may rise to 13940.00 – 14017.00
Pivot
13815.00
Our preference
Long positions above 13815.00 with targets at 13940.00 & 14017.00 in extension.
Alternative scenario
Below 13815.00 look for further downside with 13731.00 & 13680.00 as targets.
Comment
The RSI is bullish and calls for further upside.
SGX FTSE China A50
may rise to 18685.00 – 18795.00
Pivot
18490.00
Our preference
Long positions above 18490.00 with targets at 18685.00 & 18795.00 in extension.
Alternative scenario
Below 18490.00 look for further downside with 18350.00 & 18280.00 as targets.
Comment
The RSI is bullish and calls for further upside.
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.
