Doo Prime Daily Featured Trading Strategies – November 5, 2021 - Doo Prime News
Doo Prime News > Analysis > Daily Featured Trading Strategies > Doo Prime Daily Featured Trading Strategies – November 5, 2021
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1. Daily technical analysis of selected currency pairs



GBP/AUD Bullish

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

Target
Opportunity recognized 2021 Nov 04 for the period of up to 12 hours
+0.00126 (12.6 pips) price change since the Technical Event at 1.82389

Technical Analysis

We found a pattern called Inside Bar (Bullish) on 2021 Nov 04 at 22:00 GMT on a 30 minute chart suggesting the outlook is bullish for up to 12 hours.

The Momentum oscillator crossed above 0 on 2021 Nov 05 at 01:00 GMT, thereby signaling a new accelerating uptrend.

AUD/JPY Bullish

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

Target
Opportunity recognized 2021 Nov 04 for the period of up to 48 hours
-0.245 (24.5 pips) price change since the Technical Event at 84.169

Technical Analysis

We found a pattern called Inside Bar (Bullish) on 2021 Nov 04 at 21:00 GMT on a 4 hour chart suggesting the outlook is bullish for up to 48 hours.

A bullish event triggered for Fast Stochastics on 2021 Nov 05 at 01:00 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.

2. Daily Analyst’s View



EUR/USD

may fall 28 – 53 pips

Pivot
1.1575

Our preference
Short positions below 1.1575 with targets at 1.1525 & 1.1500 in extension.

Alternative scenario
Above 1.1575 look for further upside with 1.1595 & 1.1615 as targets.

Comment
As long as the resistance at 1.1575 is not surpassed, the risk of the break below 1.1525 remains high.

GBP/USD

may fall 55 – 85 pips

Pivot
1.3560

Our preference
Short positions below 1.3560 with targets at 1.3450 & 1.3420 in extension.

Alternative scenario
Above 1.3560 look for further upside with 1.3585 & 1.3610 as targets.

Comment
The RSI is bearish and calls for further decline.

USD/CAD

may rise 28 – 48 pips

Pivot
1.2420

Our preference
Long positions above 1.2420 with targets at 1.2480 & 1.2500 in extension.

Alternative scenario
Below 1.2420 look for further downside with 1.2400 & 1.2375 as targets.

Comment
The RSI calls for a new upleg.

Gold

may rise to 1799.00 – 1810.00

Pivot
1783.00

Our preference
Long positions above 1783.00 with targets at 1799.00 & 1810.00 in extension.

Alternative scenario
Below 1783.00 look for further downside with 1777.00 & 1770.00 as targets.

Comment
The RSI is mixed with a bullish bias.

Crude Oil (WTI)

may fall to 78.25 – 79.00

Pivot
80.50

Our preference
Short positions below 80.50 with targets at 79.00 & 78.25 in extension.

Alternative scenario
Above 80.50 look for further upside with 81.45 & 82.25 as targets.

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

S&P 500 (CME)

may rise to 4700.00 – 4716.00

Pivot
4651.00

Our preference
Long positions above 4651.00 with targets at 4700.00 & 4716.00 in extension.

Alternative scenario
Below 4651.00 look for further downside with 4625.00 & 4605.00 as targets.

Comment
The RSI is bullish and calls for further advance.

Nasdaq 100 (CME)

may rise to 16500.00 – 16600.00

Pivot
16150.00

Our preference
Long positions above 16150.00 with targets at 16500.00 & 16600.00 in extension.

Alternative scenario
Below 16150.00 look for further downside with 16015.00 & 15900.00 as targets.

Comment
The RSI is bullish and calls for further advance.

Hang Seng (HKFE)

may fall to 24630.00 – 24750.00

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Pivot
25065.00

Our preference
Short positions below 25065.00 with targets at 24750.00 & 24630.00 in extension.

Alternative scenario
Above 25065.00 look for further upside with 25300.00 & 25440.00 as targets.

Comment
The RSI is bearish and calls for further downside.

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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