Doo Prime Daily Featured Trading Strategies – January 27, 2021
1. Daily technical analysis of selected currency pairs
AUD/SGD Bullish
Image Features: forms “Hammer” patternn
Target
Opportunity recognized 2021 Jan 27 for the period of up to 12 hours
-0.00029 (29 pips) price change since the Technical Event at 1.02539
Technical Analysis
We found a pattern called Hammer on 2021 Jan 27 at 03:30 GMT on a 5 minute chart suggesting the outlook is bullish for up to 12 hours.
On 2021 Jan 27 at 03:35 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.
CHF/AUD Bullish
Image Feature: forms “Hammer” pattern
Target
Opportunity recognized 2021 Jan 27 for the period of up to 12 hours
-0.00053 (53 pips) price change since the Technical Event at 1.45727
Technical Analysis
We found a pattern called Hammer on 2021 Jan 27 at 03:40 GMT on a 5 minute chart suggesting the outlook is bullish for up to 12 hours.
The price crossed above its moving average on 2021 Jan 27 at 03:40 GMT signaling a new uptrend has been established.
2. Daily Analyst View
EUR/USD
may rise 13 – 28 pips
Pivot
1.2145
Our preference
Long positions above 1.2145 with targets at 1.2175 & 1.2190 in extension.
Alternative scenario
Below 1.2145 look for further downside with 1.2125 & 1.2110 as targets.
Comment
Technically the RSI is above its neutrality area at 50.
GBP/USD
may rise 18 – 38 pips
Pivot
1.3720
Our preference
Long positions above 1.3720 with targets at 1.3760 & 1.3780 in extension.
Alternative scenario
Below 1.3720 look for further downside with 1.3700 & 1.3675 as targets.
Comment
The break above 1.3720 is a positive signal that has opened a path to 1.3760.
USD/CAD
may fall 20 – 40 pips
Pivot
1.2730
Our preference
Short positions below 1.2730 with targets at 1.2680 & 1.2660 in extension.
Alternative scenario
Above 1.2730 look for further upside with 1.2755 & 1.2780 as targets.
Comment
A break below 1.2680 would trigger a drop towards 1.2660.
Gold
may fall to 1828.00 – 1837.00
Pivot
1857.00
Our preference
Short positions below 1857.00 with targets at 1837.00 & 1828.00 in extension.
Alternative scenario
Above 1857.00 look for further upside with 1868.00 & 1875.00 as targets.
Comment
The RSI is bearish and calls for further decline.
Brent (ICE)
may rise to 56.10 – 56.40
Pivot
55.45
Our preference
Long positions above 55.45 with targets at 56.10 & 56.40 in extension.
Alternative scenario
Below 55.45 look for further downside with 55.20 & 54.90 as targets.
Comment
The RSI is mixed to bullish.
S&P 500 (CME)
may rise to 3860.00 – 3875.00
Pivot
3821.00
Our preference
Long positions above 3821.00 with targets at 3860.00 & 3875.00 in extension.
Alternative scenario
Below 3821.00 look for further downside with 3806.50 & 3788.00 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Dax (Eurex)
may rise to 13946.00 – 14015.00
Pivot
13795.00
Our preference
Long positions above 13795.00 with targets at 13946.00 & 14015.00 in extension.
Alternative scenario
Below 13795.00 look for further downside with 13730.00 & 13640.00 as targets.
Comment
Investors have to remain cautious since these levels may trigger profit taking.
SGX FTSE China A50
may fall to 18300.00 – 18490.00
Pivot
18820.00
Our preference
Short positions below 18820.00 with targets at 18490.00 & 18300.00 in extension.
Alternative scenario
Above 18820.00 look for further upside with 19030.00 & 19200.00 as targets.
Comment
The RSI is mixed to bearish.
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.
