Doo Prime Daily Featured Trading Strategies – December 22, 2020
1. Daily technical analysis of selected currency pairs
GBP/NZD Bullish
Image Features: forms “Double Bottom” pattern
Target
Opportunity recognized 2020 Dec 21 for the period of up to 48 hours
+0.00654 (654 pips) price change since the Technical Event at 1.89260
Technical Analysis
We found a pattern called Double Bottom on 2020 Dec 21 at 19:30 GMT on a 15 minute chart, providing a target price for up to 48 hours in the range of 1.91000 to 1.92000.
The faster moving average crossed above the slower moving average on 2020 Dec 22 at 03:15 GMT, signaling a new uptrend has been established.
GBP/AUD Bullish
Image Features: forms “Diamond Bottom” pattern
Target
Opportunity recognized 2020 Dec 21 for the period of up to 48 hours
+0.01383 (1383 pips) price change since the Technical Event at 1.76055
Technical Analysis
We found a pattern called Diamond Bottom on 2020 Dec 21 at 18:00 GMT on a 15 minute chart, providing a target price for up to 48 hours in the range of 1.77000 to 1.78000.
The price crossed above its moving average on 2020 Dec 22 at 02:30 GMT signaling a new uptrend has been established.
2. Daily Analyst View
EUR/USD
may rise 20 – 40 pips
Pivot
1.2200
Our preference
Long positions above 1.2200 with targets at 1.2255 & 1.2275 in extension.
Alternative scenario
Below 1.2200 look for further downside with 1.2175 & 1.2150 as targets.
Comment
The break above 1.2200 is a positive signal that has opened a path to 1.2255.
GBP/USD
may rise 77 – 127 pips
Pivot
1.3370
Our preference
Long positions above 1.3370 with targets at 1.3500 & 1.3550 in extension.
Alternative scenario
Below 1.3370 look for further downside with 1.3330 & 1.3290 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
USD/CAD
may fall 33 – 63 pips
Pivot
1.2880
Our preference
Short positions below 1.2880 with targets at 1.2815 & 1.2785 in extension.
Alternative scenario
Above 1.2880 look for further upside with 1.2910 & 1.2950 as targets.
Comment
The upward potential is likely to be limited by the resistance at 1.2880.
Gold
may rise to 1899.00 – 1906.00
Pivot
1868.00
Our preference
Long positions above 1868.00 with targets at 1899.00 & 1906.00 in extension.
Alternative scenario
Below 1868.00 look for further downside with 1855.00 & 1844.00 as targets.
Comment
The RSI is mixed with a bullish bias.
Brent (ICE)
may rise to 51.10 – 51.50
Pivot
50.30
Our preference
Long positions above 50.30 with targets at 51.10 & 51.50 in extension.
Alternative scenario
Below 50.30 look for further downside with 49.75 & 49.20 as targets.
Comment
The RSI is mixed with a bullish bias.
S&P 500 (CME)
may rise to 3697.00 – 3723.00
Pivot
3657.00
Our preference
Long positions above 3657.00 with targets at 3697.00 & 3723.00 in extension.
Alternative scenario
Below 3657.00 look for further downside with 3625.00 & 3596.00 as targets.
Comment
The RSI is mixed to bullish.
Dax (Eurex)
may fall to 13125.00 – 13220.00
Pivot
13420.00
Our preference
Short positions below 13420.00 with targets at 13220.00 & 13125.00 in extension.
Alternative scenario
Above 13420.00 look for further upside with 13510.00 & 13600.00 as targets.
Comment
The RSI is mixed to bearish.
SGX FTSE China A50
may rise to 17080.00 – 17180.00
Pivot
16875.00
Our preference
Long positions above 16875.00 with targets at 17080.00 & 17180.00 in extension.
Alternative scenario
Below 16875.00 look for further downside with 16770.00 & 16630.00 as targets.
Comment
The RSI advocates for further advance.
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.
