Doo Prime Daily Featured Trading Strategies – December 17, 2021 - Doo Prime News
Doo Prime News > Analysis > Daily Featured Trading Strategies > Doo Prime Daily Featured Trading Strategies – December 17, 2021
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1. Daily technical analysis of selected currency pairs



AUD/JPY Bullish

Image Features: forms “Inside Bar (Bullish)” pattern

Target
Opportunity recognized 2021 Dec 16 for the period of up to 12 hours
-0.088 (8.8 pips) price change since the Technical Event at 81.607

Technical Analysis

We found a pattern called Inside Bar (Bullish) on 2021 Dec 16 at 21:00 GMT on a 1 hour chart suggesting the outlook is bullish for up to 12 hours.

A bullish event triggered for Fast Stochastics on 2021 Dec 16 at 23:00 GMT when the %K line crossed above the %D line. The close prices are trading closer to the upper end of the recent high-low price range, which is associated with price increases.

GBP/JPY Bearish

Image Features: forms “Hanging Man (Bearish)” pattern

Target
Opportunity recognized 2021 Dec 17 for the period of up to 12 hours
-0.115 (11.5 pips) price change since the Technical Event at 151.558

Technical Analysis

We found a pattern called Hanging Man on 2021 Dec 17 at 00:30 GMT on a 15 minute chart suggesting the outlook is bearish for up to 12 hours.

The Momentum oscillator crossed below 0 on 2021 Dec 17 at 02:45 GMT, thereby signaling a new accelerating downtrend.

2. Daily Analyst’s View



EUR/USD

may rise 23 – 38 pips

Pivot
1.1305

Our preference
Long positions above 1.1305 with targets at 1.1345 & 1.1360 in extension.

Alternative scenario
Below 1.1305 look for further downside with 1.1280 & 1.1260 as targets.

Comment
A support base at 1.1305 has formed and has allowed for a temporary stabilisation.

GBP/USD

may rise 17 – 47 pips

Pivot
1.3300

Our preference
Long positions above 1.3300 with targets at 1.3345 & 1.3375 in extension.

Alternative scenario
Below 1.3300 look for further downside with 1.3270 & 1.3240 as targets.

Comment
The RSI lacks downward momentum.

USD/CAD

may fall 20 – 45 pips

Pivot
1.2805

Our preference
Short positions below 1.2805 with targets at 1.2755 & 1.2730 in extension.

Alternative scenario
Above 1.2805 look for further upside with 1.2830 & 1.2860 as targets.

Comment
A break below 1.2755 would trigger a drop towards 1.2730.

Gold

may rise to 1808.00 – 1815.00

Pivot
1786.00

Our preference
Long positions above 1786.00 with targets at 1808.00 & 1815.00 in extension.

Alternative scenario
Below 1786.00 look for further downside with 1779.00 & 1772.00 as targets.

Comment
The RSI shows upside momentum.

Crude Oil (WTI)

may rise to 72.55 – 73.00

Pivot
71.30

Our preference
Long positions above 71.30 with targets at 72.55 & 73.00 in extension.

Alternative scenario
Below 71.30 look for further downside with 70.65 & 70.00 as targets.

Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

S&P 500 (CME)

may fall to 4605.00 – 4642.00

Pivot
4700.00

Our preference
Short positions below 4700.00 with targets at 4642.00 & 4605.00 in extension.

Alternative scenario
Above 4700.00 look for further upside with 4740.00 & 4760.00 as targets.

Comment
The RSI is bearish and calls for further downside.

Nasdaq 100 (CME)

may fall to 15550.00 – 15720.00

Pivot
15980.00

Our preference
Short positions below 15980.00 with targets at 15720.00 & 15550.00 in extension.

Alternative scenario
Above 15980.00 look for further upside with 16170.00 & 16340.00 as targets.

Comment
The RSI has broken down its 30 level.

Hang Seng (HKFE)

may rise to 23735.00 – 24040.00

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Pivot
23330.00

Our preference
Long positions above 23330.00 with targets at 23735.00 & 24040.00 in extension.

Alternative scenario
Below 23330.00 look for further downside with 23070.00 & 22870.00 as targets.

Comment
The RSI has just landed on its neutrality area at 50% and is turning up.

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.

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