Doo Prime Daily Featured Trading Strategies – January 28, 2021
- Daily technical analysis of selected currency pairs
NZD/USD Bullish
Image Features: forms “Outside Bar (Bullish)” pattern
Target
Opportunity recognized 2021 Jan 28 for the period of up to 12 hours
+0.00003 (03 pips) price change since the Technical Event at 0.71488
Technical Analysis
We found a pattern called Outside Bar (Bullish) on 2021 Jan 28 at 02:00 GMT on a 1 hour chart suggesting the outlook is bullish for up to 12 hours.
The RSI rose above 30 on 2021 Jan 28 at 02:00 GMT, telling us the price is starting to recover from being oversold.
CAD/MXN Bullish
Image Features: forms “Hammer” pattern
Target
Opportunity recognized 2021 Jan 28 for the period of up to 12 hours
-0.00451 (451 pips) price change since the Technical Event at 15.81990
Technical Analysis
We found a pattern called Hammer on 2021 Jan 28 at 02:05 GMT on a 5 minute chart suggesting the outlook is bullish for up to 12 hours.
A bullish event triggered for Slow Stochastics on 2021 Jan 28 at 02:10 GMT when the %K line crossed above the %D line. The close prices are trading closer to the upper end of the recent high-low price range, which is associated with price increases.
- Daily Analyst View
EUR/USD
may fall 18 – 38 pips
Pivot
1.2125
Our preference
Short positions below 1.2125 with targets at 1.2075 & 1.2055 in extension.
Alternative scenario
Above 1.2125 look for further upside with 1.2145 & 1.2170 as targets.
Comment
A break below 1.2075 would trigger a drop towards 1.2055.
GBP/USD
may fall 30 – 55 pips
Pivot
1.3700
Our preference
Short positions below 1.3700 with targets at 1.3635 & 1.3610 in extension.
Alternative scenario
Above 1.3700 look for further upside with 1.3725 & 1.3755 as targets.
Comment
Technically the RSI is below its neutrality area at 50.
USD/CAD
may rise 44 – 69 pips
Pivot
1.2780
Our preference
Long positions above 1.2780 with targets at 1.2860 & 1.2885 in extension.
Alternative scenario
Below 1.2780 look for further downside with 1.2745 & 1.2705 as targets.
Comment
The break above 1.2780 is a positive signal that has opened a path to 1.2860.
Gold
may fall to 1822.00 – 1831.00
Pivot
1849.00
Our preference
Short positions below 1849.00 with targets at 1831.00 & 1822.00 in extension.
Alternative scenario
Above 1849.00 look for further upside with 1860.00 & 1868.00 as targets.
Comment
The RSI is bearish and calls for further downside.
Brent (ICE)
may fall to 54.60 – 54.95
Pivot
55.85
Our preference
Short positions below 55.85 with targets at 54.95 & 54.60 in extension.
Alternative scenario
Above 55.85 look for further upside with 56.20 & 56.50 as targets.
Comment
The RSI is mixed to bearish.
S&P 500 (CME)
may fall to 3652.00 – 3686.00
Pivot
3763.00
Our preference
Short positions below 3763.00 with targets at 3686.00 & 3652.00 in extension.
Alternative scenario
Above 3763.00 look for further upside with 3791.00 & 3808.00 as targets.
Comment
The RSI is mixed to bearish.
Dax (Eurex)
may fall to 13295.00 – 13464.00
Pivot
13655.00
Our preference
Short positions below 13655.00 with targets at 13464.00 & 13295.00 in extension.
Alternative scenario
Above 13655.00 look for further upside with 13745.00 & 13800.00 as targets.
Comment
As long as the resistance at 13655.00 is not surpassed, the risk of the break below 13464.00 remains high.
SGX FTSE China A50
may fall to 18060.00 – 18180.00
Pivot
18470.00
Our preference
Short positions below 18470.00 with targets at 18180.00 & 18060.00 in extension.
Alternative scenario
Above 18470.00 look for further upside with 18600.00 & 18715.00 as targets.
Comment
The RSI shows downside momentum.
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.
