Doo Prime Daily Featured Trading Strategies – December 21, 2020
- Daily technical analysis of selected currency pairs
AUD/CHF Bearish
Image Features: forms “Diamond Top” pattern
Target
Opportunity recognized 2020 Dec 20 for the period of up to 48 hours
-0.00106 (107 pips) price change since the Technical Event at 0.67205
Technical Analysis
We found a pattern called Diamond Top on 2020 Dec 20 at 21:15 GMT on a 15 minute chart, providing a target price for up to 48 hours in the range of 0.67000 to 0.68000.
The faster moving average crossed below the slower moving average on 2020 Dec 21 at 01:00 GMT, signaling a new downtrend has been established.
NZD/SGD Bearish
Image Features: forms “Downside Breakout” pattern
Target
Opportunity recognized 2020 Dec 20 for the period of up to 48 hours
-0.00053 (53 pips) price change since the Technical Event at 0.94472
Technical Analysis
We found a pattern called Downside Breakout on 2020 Dec 20 at 23:45 GMT on a 15 minute chart, providing a target price for up to 48 hours in the range of 0.94000 to 0.95000.
The price crossed below its moving average on 2020 Dec 18 at 22:00 GMT signaling a new downtrend has been established.
- Daily Analyst View
EUR/USD
may fall 24 – 44 pips
Pivot
1.2250
Our preference
Short positions below 1.2250 with targets at 1.2200 & 1.2180 in extension.
Alternative scenario
Above 1.2250 look for further upside with 1.2270 & 1.2290 as targets.
Comment
As long as the resistance at 1.2250 is not surpassed, the risk of the break below 1.2200 remains high.
GBP/USD
may fall 45 – 85 pips
Pivot
1.3470
Our preference
Short positions below 1.3470 with targets at 1.3360 & 1.3320 in extension.
Alternative scenario
Above 1.3470 look for further upside with 1.3520 & 1.3560 as targets.
Comment
The RSI shows downside momentum.
USD/CAD
may rise 18 – 38 pips
Pivot
1.2775
Our preference
Long positions above 1.2775 with targets at 1.2825 & 1.2845 in extension.
Alternative scenario
Below 1.2775 look for further downside with 1.2755 & 1.2735 as targets.
Comment
The RSI is bullish and calls for further upside.
Gold
may rise to 1910.00 – 1920.00
Pivot
1882.00
Our preference
Long positions above 1882.00 with targets at 1910.00 & 1920.00 in extension.
Alternative scenario
Below 1882.00 look for further downside with 1877.00 & 1867.00 as targets.
Comment
The RSI shows upside momentum.
Brent (ICE)
may fall to 49.80 – 50.35
Pivot
51.80
Our preference
Short positions below 51.80 with targets at 50.35 & 49.80 in extension.
Alternative scenario
Above 51.80 look for further upside with 52.15 & 52.50 as targets.
Comment
The RSI has broken down its 30 level.
S&P 500 (CME)
may rise to 3723.00 – 3750.00
Pivot
3690.00
Our preference
Long positions above 3690.00 with targets at 3723.00 & 3750.00 in extension.
Alternative scenario
Below 3690.00 look for further downside with 3677.00 & 3664.00 as targets.
Comment
The RSI is mixed with a bullish bias.
Dax (Eurex)
may fall to 13285.00 – 13375.00
Pivot
13585.00
Our preference
Short positions below 13585.00 with targets at 13375.00 & 13285.00 in extension.
Alternative scenario
Above 13585.00 look for further upside with 13700.00 & 13760.00 as targets.
Comment
The RSI is bearish and calls for further downside.
SGX FTSE China A50
may fall to 16525.00 – 16630.00
Pivot
16935.00
Our preference
Short positions below 16935.00 with targets at 16630.00 & 16525.00 in extension.
Alternative scenario
Above 16935.00 look for further upside with 17010.00 & 17080.00 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.
