Doo Prime Daily Featured Trading Strategies – January 19, 2021
1. Daily technical analysis of selected currency pairs
EUR/CAD Bullish
Image Features: forms “Inside Bar (Bullish)” pattern
Target
Opportunity recognized 2021 Jan 19 for the period of up to 12 hours
+0.00023 (23 pips) price change since the Technical Event at 1.53928
Technical Analysis
We found a pattern called Inside Bar (Bullish) on 2021 Jan 19 at 03:00 GMT on a 15 minute chart suggesting the outlook is bullish for up to 12 hours.
The MACD generated a bullish signal on 2021 Jan 19 at 03:00 GMT.
GBP/EUR Bearish
Image Features: forms “Engulfing Line (Bearish)” pattern
Target
Opportunity recognized 2021 Jan 19 for the period of up to 12 hours
+0.00021 (21 pips) price change since the Technical Event at 1.12458
Technical Analysis
We found a pattern called Engulfing Line (Bearish) on 2021 Jan 19 at 03:00 GMT on a 30 minute chart suggesting the outlook is bearish for up to 12 hours.
The price crossed below its moving average on 2021 Jan 19 at 03:00 GMT signaling a new downtrend has been established.
2. Daily Analyst View
EUR/USD
may rise 22 – 37 pips
Pivot
1.2070
Our preference
Long positions above 1.2070 with targets at 1.2115 & 1.2130 in extension.
Alternative scenario
Below 1.2070 look for further downside with 1.2055 & 1.2040 as targets.
Comment
The RSI is bullish and calls for further upside.
GBP/USD
may rise 24 – 49 pips
Pivot
1.3570
Our preference
Long positions above 1.3570 with targets at 1.3630 & 1.3655 in extension.
Alternative scenario
Below 1.3570 look for further downside with 1.3545 & 1.3520 as targets.
Comment
The RSI is bullish and calls for further advance.
USD/CAD
may fall 30 – 50 pips
Pivot
1.2775
Our preference
Short positions below 1.2775 with targets at 1.2720 & 1.2700 in extension.
Alternative scenario
Above 1.2775 look for further upside with 1.2800 & 1.2835 as targets.
Comment
The RSI advocates for further downside.
Gold
may rise to 1851.00 – 1858.00
Pivot
1831.00
Our preference
Long positions above 1831.00 with targets at 1851.00 & 1858.00 in extension.
Alternative scenario
Below 1831.00 look for further downside with 1822.00 & 1816.00 as targets.
Comment
The RSI is bullish and calls for further advance.
Brent (ICE)
may fall to 54.20 – 54.50
Pivot
55.20
Our preference
Short positions below 55.20 with targets at 54.50 & 54.20 in extension.
Alternative scenario
Above 55.20 look for further upside with 55.50 & 55.80 as targets.
Comment
The RSI is mixed with a bearish bias.
S&P 500 (CME)
may rise to 3797.00 – 3815.00
Pivot
3759.00
Our preference
Long positions above 3759.00 with targets at 3797.00 & 3815.00 in extension.
Alternative scenario
Below 3759.00 look for further downside with 3741.00 & 3730.00 as targets.
Comment
The RSI is bullish and calls for further advance.
Dax (Eurex)
may rise to 14020.00 – 14120.00
Pivot
13765.00
Our preference
Long positions above 13765.00 with targets at 14020.00 & 14120.00 in extension.
Alternative scenario
Below 13765.00 look for further downside with 13660.00 & 13600.00 as targets.
Comment
The RSI is bullish and calls for further advance.
SGX FTSE China A50
may rise to 18720.00 – 18865.00
Pivot
18470.00
Our preference
Long positions above 18470.00 with targets at 18720.00 & 18865.00 in extension.
Alternative scenario
Below 18470.00 look for further downside with 18305.00 & 18200.00 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
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.
