Doo Prime Daily Featured Trading Strategies – November 25, 2020
- Daily technical analysis of selected currency pairs
EUR/AUD Bullish
Image Features: forms “Megaphone Bottom” pattern
Target
Opportunity recognized 2020 Nov 25 for the period of up to 48 hours
+0.00176 (176 pips) price change since the Technical Event at 1.61667
Technical Analysis
We found a pattern called Megaphone Bottom on 2020 Nov 25 at 02:30 GMT on a 30 minute chart, providing a target price for up to 48 hours in the range of 1.62000 to 1.63000.
The price crossed above its moving average on 2020 Nov 25 at 02:30 GMT signaling a new uptrend has been established.
GBP/CAD Bearish
Image Features: forms “Inside Bar (Bearish)” pattern
Target
Opportunity recognized 2020 Nov 25 for the period of up to 12 hours
+0.00085 (85 pips) price change since the Technical Event at 1.73572
Technical Analysis
We found a pattern called Inside Bar (Bearish) on 2020 Nov 25 at 02:00 GMT on a 30 minute chart suggesting the outlook is bearish for up to 12 hours.
The Momentum oscillator crossed below 0 on 2020 Nov 25 at 02:00 GMT, thereby signaling a new accelerating downtrend.
- Daily analyst View
EUR/USD
may rise 20 – 35 pips
Pivot
1.1870
Our preference
Long positions above 1.1870 with targets at 1.1920 & 1.1935 in extension.
Alternative scenario
Below 1.1870 look for further downside with 1.1840 & 1.1815 as targets.
Comment
The RSI is bullish and calls for further advance.
GBP/USD
may rise 22 – 42 pips
Pivot
1.3335
Our preference
Long positions above 1.3335 with targets at 1.3380 & 1.3400 in extension.
Alternative scenario
Below 1.3335 look for further downside with 1.3310 & 1.3290 as targets.
Comment
The RSI lacks downward momentum.
USD/CAD
may fall 32 – 67 pips
Pivot
1.3035
Our preference
Short positions below 1.3035 with targets at 1.2960 & 1.2925 in extension.
Alternative scenario
Above 1.3035 look for further upside with 1.3065 & 1.3090 as targets.
Comment
The immediate trend remains down and the momentum is strong.
Gold spot
may fall to 1791.00 – 1800.00
Pivot
1820.00
Our preference
Short positions below 1820.00 with targets at 1800.00 & 1791.00 in extension.
Alternative scenario
Above 1820.00 look for further upside with 1831.00 & 1841.00 as targets.
Comment
As long as the resistance at 1820.00 is not surpassed, the risk of the break below 1800.00 remains high.
Brent (ICE)
may rise to 49.20 – 49.70
Pivot
47.65
Our preference
Long positions above 47.65 with targets at 49.20 & 49.70 in extension.
Alternative scenario
Below 47.65 look for further downside with 46.90 & 46.35 as targets.
Comment
The RSI advocates for further upside.
S&P 500 (CME)
may rise to 3668.00 – 3685.00
Pivot
3625.00
Our preference
Long positions above 3625.00 with targets at 3668.00 & 3685.00 in extension.
Alternative scenario
Below 3625.00 look for further downside with 3605.00 & 3581.00 as targets.
Comment
The RSI is bullish and calls for further upside.
Dax (Eurex)
may rise to 13390.00 – 13470.00
Pivot
13270.00
Our preference
Long positions above 13270.00 with targets at 13390.00 & 13470.00 in extension.
Alternative scenario
Below 13270.00 look for further downside with 13200.00 & 13150.00 as targets.
Comment
The RSI lacks downward momentum.
SGX FTSE China A50
may rise to 16810.00 – 16900.00
Pivot
16600.00
Our preference
Long positions above 16600.00 with targets at 16810.00 & 16900.00 in extension.
Alternative scenario
Below 16600.00 look for further downside with 16500.00 & 16440.00 as targets.
Comment
The RSI calls for a rebound.
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.
