Doo Prime Daily Featured Trading Strategies – November 19, 2020
1. Daily technical analysis of selected currency pairs
USD/JPY Bullish
Image Features: forms “Inside Bar (Bullish)” pattern
Target
Opportunity recognized 2020 Nov 20 for the period of up to 12 hours
-0.049 (49 pips) price change since the Technical Event at 103.816
Technical Analysis
We found a pattern called Inside Bar (Bullish) on 2020 Nov 20 at 06:15 GMT on a 15 minute chart suggesting the outlook is bullish for up to 12 hours.
The faster moving average crossed above the slower moving average on 2020 Nov 20 at 03:15 GMT, signaling a new uptrend has been established.
AUD/USD Bullish
Image Features: forms “Continuation Diamond (Bullish)” pattern
Target
Opportunity recognized 2020 Nov 20 for the period of up to 2 weeks
+0.00010 (11 pips) price change since the Technical Event at 0.72920
Technical Analysis
We found a pattern called Continuation Diamond (Bullish) on 2020 Nov 20 at 05:00 GMT on a 1 hour chart, providing a target price for up to 2 weeks in the range of 0.74000 to 0.75000.
The price crossed above its moving average on 2020 Nov 20 at 04:00 GMT signaling a new uptrend has been established.
- Daily analyst View
EUR/USD
may rise 7 – 27 pips
Pivot
1.1850
Our preference
Long positions above 1.1850 with targets at 1.1890 & 1.1910 in extension.
Alternative scenario
Below 1.1850 look for further downside with 1.1830 & 1.1815 as targets.
Comment
The RSI advocates for further upside.
GBP/USD
may rise 40 – 60 pips
Pivot
1.3225
Our preference
Long positions above 1.3225 with targets at 1.3310 & 1.3330 in extension.
Alternative scenario
Below 1.3225 look for further downside with 1.3195 & 1.3165 as targets.
Comment
The RSI shows upside momentum.
USD/CAD
may fall 41 – 61 pips
Pivot
1.3100
Our preference
Short positions below 1.3100 with targets at 1.3050 & 1.3030 in extension.
Alternative scenario
Above 1.3100 look for further upside with 1.3125 & 1.3145 as targets.
Comment
As long as the resistance at 1.3100 is not surpassed, the risk of the break below 1.3050 remains high.
Gold spot
may rise to 1875.00 – 1884.00
Pivot
1857.00
Our preference
Long positions above 1857.00 with targets at 1875.00 & 1884.00 in extension.
Alternative scenario
Below 1857.00 look for further downside with 1852.00 & 1845.00 as targets.
Comment
The RSI calls for a rebound.
Brent (ICE)
may rise to 44.55 – 44.90
Pivot
43.80
Our preference
Long positions above 43.80 with targets at 44.55 & 44.90 in extension.
Alternative scenario
Below 43.80 look for further downside with 43.50 & 43.10 as targets.
Comment
The RSI is mixed with a bullish bias.
S&P 500 (CME)
may fall to 3513.00 – 3542.00
Pivot
3586.00
Our preference
Short positions below 3586.00 with targets at 3542.00 & 3513.00 in extension.
Alternative scenario
Above 3586.00 look for further upside with 3607.00 & 3630.00 as targets.
Comment
The immediate trend remains down but the momentum is weak.
Dax (Eurex)
may rise to 13165.00 – 13207.00
Pivot
13024.00
Our preference
Long positions above 13024.00 with targets at 13165.00 & 13207.00 in extension.
Alternative scenario
Below 13024.00 look for further downside with 12970.00 & 12920.00 as targets.
Comment
A support base at 13024.00 has formed and has allowed for a temporary stabilisation.
SGX FTSE China A50
may rise to 16565.00 – 16710.00
Pivot
16360.00
Our preference
Long positions above 16360.00 with targets at 16565.00 & 16710.00 in extension.
Alternative scenario
Below 16360.00 look for further downside with 16215.00 & 16100.00 as targets.
Comment
The RSI calls for a new downleg.
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.
