Doo Prime Daily Featured Trading Strategies – December 15, 2020
- Daily technical analysis of selected currency pairs
EUR/SGD Bullish
Image Features: forms “Upside Breakout” pattern
Target
Opportunity recognized 2020 Dec 15 for the period of up to 48 hours
+0.00175 (175 pips) price change since the Technical Event at 1.62218
Technical Analysis
We found a pattern called Upside Breakout on 2020 Dec 15 at 02:00 GMT on a 1 hour chart, providing a target price for up to 48 hours in the range of 1.63000 to 1.64000.
The price crossed above its moving average on 2020 Dec 15 at 01:00 GMT signaling a new uptrend has been established.
EUR/NZD Bullish
Image Features: forms “Megaphone Bottom” pattern
Target
Opportunity recognized 2020 Dec 14 for the period of up to 48 hours
+0.00294 (294 pips) price change since the Technical Event at 1.71297
Technical Analysis
We found a pattern called Megaphone Bottom on 2020 Dec 14 at 17:00 GMT on a 1 hour chart, providing a target price for up to 48 hours in the range of 1.72000 to 1.73000.
On 2020 Dec 14 at 19:00 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.
- Daily Analyst View
EUR/USD
may rise 18 – 43 pips
Pivot
1.2140
Our preference
Long positions above 1.2140 with targets at 1.2175 & 1.2200 in extension.
Alternative scenario
Below 1.2140 look for further downside with 1.2120 & 1.2105 as targets.
Comment
The RSI has just landed on its neutrality area at 50% and is turning up.
GBP/USD
may fall 31 – 66 pips
Pivot
1.3370
Our preference
Short positions below 1.3370 with targets at 1.3300 & 1.3265 in extension.
Alternative scenario
Above 1.3370 look for further upside with 1.3405 & 1.3445 as targets.
Comment
A break below 1.3300 would trigger a drop towards 1.3265.
USD/CAD
may rise 20 – 35 pips
Pivot
1.2740
Our preference
Long positions above 1.2740 with targets at 1.2775 & 1.2790 in extension.
Alternative scenario
Below 1.2740 look for further downside with 1.2720 & 1.2700 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Gold
may fall to 1806.00 – 1818.00
Pivot
1839.00
Our preference
Short positions below 1839.00 with targets at 1818.00 & 1806.00 in extension.
Alternative scenario
Above 1839.00 look for further upside with 1848.00 & 1856.00 as targets.
Comment
The RSI is mixed with a bearish bias.
Brent (ICE)
may rise to 50.70 – 51.05
Pivot
49.85
Our preference
Long positions above 49.85 with targets at 50.70 & 51.05 in extension.
Alternative scenario
Below 49.85 look for further downside with 49.50 & 49.15 as targets.
Comment
The RSI is mixed to bullish.
S&P 500 (CME)
may fall to 3621.00 – 3637.00
Pivot
3667.00
Our preference
Short positions below 3667.00 with targets at 3637.00 & 3621.00 in extension.
Alternative scenario
Above 3667.00 look for further upside with 3691.00 & 3707.00 as targets.
Comment
The RSI is bearish and calls for further decline.
Dax (Eurex)
may fall to 13065.00 – 13140.00
Pivot
13310.00
Our preference
Short positions below 13310.00 with targets at 13140.00 & 13065.00 in extension.
Alternative scenario
Above 13310.00 look for further upside with 13370.00 & 13410.00 as targets.
Comment
The RSI calls for a drop.
SGX FTSE China A50
may fall to 16300.00 – 16430.00
Pivot
16700.00
Our preference
Short positions below 16700.00 with targets at 16430.00 & 16300.00 in extension.
Alternative scenario
Above 16700.00 look for further upside with 16770.00 & 16870.00 as targets.
Comment
The RSI is bearish and calls for further downside.
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.
