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



AUD/JPY Bullish

Image Features: forms “Diamond Bottom (Bullish)” pattern

Target
Opportunity recognized 2021 Nov 12 for the period of up to 2 weeks
+0.329 (32.9 pips) price change since the Technical Event at 83.308

Technical Analysis

We found a pattern called Diamond Bottom on 2021 Nov 12 at 17:00 GMT on a 4 hour chart, providing a target price for up to 2 weeks in the range of 84.200 to 84.400.

The price crossed above its moving average on 2021 Nov 15 at 09:00 GMT signaling a new uptrend has been established.

EUR/JPY Bullish

Image Features: forms “Hammer (Bullish)” pattern

Target
Opportunity recognized 2021 Nov 16 for the period of up to 12 hours
+0.112 (11.2 pips) price change since the Technical Event at 129.813

Technical Analysis

We found a pattern called Hammer on 2021 Nov 16 at 20:30 GMT on a 30 minute chart suggesting the outlook is bullish for up to 12 hours.

On 2021 Nov 16 at 23:30 GMT, the 4-bar Moving Average crossed above the 9-bar MA which crossed above the 18-bar MA, signaling a new uptrend has been established.

2. Daily Analyst’s View



EUR/USD

may fall 23 – 43 pips

Pivot
1.1350

Our preference
Short positions below 1.1350 with targets at 1.1290 & 1.1270 in extension.

Alternative scenario
Above 1.1350 look for further upside with 1.1370 & 1.1385 as targets.

Comment
The RSI is bearish and calls for further downside.

GBP/USD

may fall 19 – 39 pips

Pivot
1.3450

Our preference
Short positions below 1.3450 with targets at 1.3400 & 1.3380 in extension.

Alternative scenario
Above 1.3450 look for further upside with 1.3470 & 1.3490 as targets.

Comment
The RSI advocates for further decline.

USD/CAD

may rise 25 – 45 pips

Pivot
1.2530

Our preference
Long positions above 1.2530 with targets at 1.2590 & 1.2610 in extension.

Alternative scenario
Below 1.2530 look for further downside with 1.2510 & 1.2490 as targets.

Comment
The RSI is bullish and calls for further upside.

Gold

may fall to 1832.00 – 1842.00

Pivot
1863.00

Our preference
Short positions below 1863.00 with targets at 1842.00 & 1832.00 in extension.

Alternative scenario
Above 1863.00 look for further upside with 1869.00 & 1877.00 as targets.

Comment
The RSI calls for a drop.

Crude Oil (WTI)

may fall to 78.30 – 79.00

Pivot
80.30

Our preference
Short positions below 80.30 with targets at 79.00 & 78.30 in extension.

Alternative scenario
Above 80.30 look for further upside with 80.70 & 81.10 as targets.

Comment
The RSI is bearish and calls for further decline.

S&P 500 (CME)

may rise to 4716.00 – 4728.00

Pivot
4688.00

Our preference
Long positions above 4688.00 with targets at 4716.00 & 4728.00 in extension.

Alternative scenario
Below 4688.00 look for further downside with 4670.00 & 4658.00 as targets.

Comment
The RSI is mixed with a bullish bias.

Nasdaq 100 (CME)

may rise to 16375.00 – 16440.00

Pivot
16230.00

Our preference
Long positions above 16230.00 with targets at 16375.00 & 16440.00 in extension.

Alternative scenario
Below 16230.00 look for further downside with 16155.00 & 16100.00 as targets.

Comment
The RSI is bullish and calls for further upside.

Hang Seng (HKFE)

may rise to 25890.00 – 26100.00

Pivot
25345.00

Our preference
Long positions above 25345.00 with targets at 25890.00 & 26100.00 in extension.

Alternative scenario
Below 25345.00 look for further downside with 25155.00 & 24970.00 as targets.

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

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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