Doo Prime Daily Featured Trading Strategies – February 18, 2022

 

1. Daily technical analysis of selected currency pairs

AUD/JPY Bullish

Image Features: forms “Inside Bar (Bullish)” pattern

Target
Opportunity recognized 2022 Feb 17 for the period of up to 12 hours
+0.244 (24.4 pips) price change since the Technical Event at 82.602

Technical Analysis

We found a pattern called Inside Bar (Bullish) on 2022 Feb 17 at 22:00 GMT on a 1 hour chart suggesting the outlook is bullish for up to 12 hours.

The price crossed above its moving average on 2022 Feb 18 at 02:00 GMT signaling a new uptrend has been established.

 

EUR/JPY Bullish

Image Features: forms “Double Bottom (Bullish)” pattern

Target
Opportunity recognized 2022 Feb 18 for the period of up to 48 hours
+0.071 (7.1 pips) price change since the Technical Event at 130.880

Technical Analysis

We found a pattern called Double Bottom on 2022 Feb 18 at 02:00 GMT on a 30 minute chart, providing a target price for up to 48 hours in the range of 131.330 to 131.430.

The price crossed above its moving average on 2022 Feb 18 at 02:00 GMT signaling a new uptrend has been established.

 

2. Daily Analyst’s View

EUR/USD

may rise 20 – 35 pips

Pivot
1.1345

Our preference
Long positions above 1.1345 with targets at 1.1380 & 1.1395 in extension.

Alternative scenario
Below 1.1345 look for further downside with 1.1330 & 1.1320 as targets.

Comment
The RSI lacks momentum.

 

GBP/USD

may rise 9 – 29 pips

Pivot
1.3595

Our preference
Long positions above 1.3595 with targets at 1.3620 & 1.3640 in extension.

Alternative scenario
Below 1.3595 look for further downside with 1.3575 & 1.3555 as targets.

Comment
A support base at 1.3595 has formed and has allowed for a temporary stabilisation.

 

USD/CAD

may rise 17 – 32 pips

Pivot
1.2680

Our preference
Long positions above 1.2680 with targets at 1.2720 & 1.2735 in extension.

Alternative scenario
Below 1.2680 look for further downside with 1.2665 & 1.2650 as targets.

Comment
The next resistances are at 1.2720 and then at 1.2735.

 

Gold

may rise to 1902.00 – 1910.00

Pivot
1883.00

Our preference
Long positions above 1883.00 with targets at 1902.00 & 1910.00 in extension.

Alternative scenario
Below 1883.00 look for further downside with 1875.00 & 1867.00 as targets.

Comment
The RSI is mixed and calls for caution.

 

Crude Oil (WTI)

may fall to 89.50 – 90.00

Pivot
92.25

Our preference
Short positions below 92.25 with targets at 90.00 & 89.50 in extension.

Alternative scenario
Above 92.25 look for further upside with 93.30 & 94.00 as targets.

Comment
As long as 92.25 is resistance, expect a return to 90.00.

 

S&P 500 (CME)

may fall to 4322.00 – 4350.00

Pivot
4401.00

Our preference
Short positions below 4401.00 with targets at 4350.00 & 4322.00 in extension.

Alternative scenario
Above 4401.00 look for further upside with 4437.00 & 4468.00 as targets.

Comment
The break below 4401.00 is a negative signal that has opened a path to 4350.00.

 

Nasdaq 100 (CME)

may fall to 13830.00 – 14000.00

Pivot
14320.00

Our preference
Short positions below 14320.00 with targets at 14000.00 & 13830.00 in extension.

Alternative scenario
Above 14320.00 look for further upside with 14460.00 & 14640.00 as targets.

Comment
The RSI has broken down its 30 level.

 

Hang Seng (HKFE)

may rise to 24870.00 – 24980.00

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Pivot
24515.00

Our preference
Long positions above 24515.00 with targets at 24870.00 & 24980.00 in extension.

Alternative scenario
Below 24515.00 look for further downside with 24390.00 & 24280.00 as targets.

Comment
The next resistances are at 24870.00 and then at 24980.00.

 

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.

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