Doo Prime Daily Featured Trading Strategies – December 14, 2020 

1. Daily technical analysis of selected currency pairs 

EUR/JPY Bullish 

Image Features: forms “Hammer” pattern

Target  

Opportunity recognized 2020 Dec 14 for the period of up to 48 hours

+0.087 (87 pips) price change since the Technical Event at 126.089

Technical Analysis  

We found a pattern called Hammer on 2020 Dec 14 at 01:00 GMT on a 4 hour chart suggesting the outlook is bullish for up to 48 hours.

The Williams %R indicator triggered a bullish signal on 2020 Dec 14 at 01:00 GMT, having risen up out of oversold (-80 level) and continued on to cross above the -50 level.

 

AUD/CAD Bearish

Image Features: forms “Double Top” pattern

Target  

Opportunity recognized 2020 Dec 14 for the period of up to 48 hours

+0.00040 (4 pips) price change since the Technical Event at 0.96060

Technical Analysis 

We found a pattern called Double Top on 2020 Dec 14 at 01:00 GMT on a 30 minute chart, providing a target price for up to 48 hours in the range of 0.96000 to 0.97000.

The price crossed below its moving average on 2020 Dec 14 at 00:30 GMT signaling a new downtrend has been established.

2. Daily Analyst View

EUR/USD  

may rise 16 – 31 pips

Pivot

1.2105

Our preference

Long positions above 1.2105 with targets at 1.2145 & 1.2160 in extension.

Alternative scenario

Below 1.2105 look for further downside with 1.2080 & 1.2060 as targets.

Comment

Technically the RSI is above its neutrality area at 50.

GBP/USD  

may rise 53 – 98 pips

Pivot

1.3260

Our preference

Long positions above 1.3260 with targets at 1.3370 & 1.3415 in extension.

Alternative scenario

Below 1.3260 look for further downside with 1.3230 & 1.3185 as targets.

Comment

Technically the RSI is above its neutrality area at 50.

 

USD/CAD  

may fall 14 – 34 pips

Pivot

1.2775

Our preference

Short positions below 1.2775 with targets at 1.2740 & 1.2720 in extension.

Alternative scenario

Above 1.2775 look for further upside with 1.2795 & 1.2815 as targets.

Comment

As long as the resistance at 1.2775 is not surpassed, the risk of the break below 1.2740 remains high.

Gold

may fall to 1815.00 – 1823.00

Pivot

1850.00

Our preference

Short positions below 1850.00 with targets at 1823.00 & 1815.00 in extension.

Alternative scenario

Above 1850.00 look for further upside with 1859.00 & 1866.00 as targets.

Comment

As long as 1850.00 is resistance, expect a return to 1823.00.

Brent (ICE)  

may fall to 49.35 – 49.75

Pivot

50.35

Our preference

Short positions below 50.35 with targets at 49.75 & 49.35 in extension.

Alternative scenario

Above 50.35 look for further upside with 50.70 & 51.05 as targets.

Comment

The RSI is mixed to bearish.

 

S&P 500 (CME)  

may rise to 3689.00 – 3707.00

Pivot

3647.00

Our preference

Long positions above 3647.00 with targets at 3689.00 & 3707.00 in extension.

Alternative scenario

Below 3647.00 look for further downside with 3621.00 & 3604.00 as targets.

Comment

The RSI calls for a rebound.

 

Dax (Eurex)  

may rise to 13310.00 – 13370.00

Pivot

13080.00

Our preference

Long positions above 13080.00 with targets at 13310.00 & 13370.00 in extension.

Alternative scenario

Below 13080.00 look for further downside with 13000.00 & 12910.00 as targets.

Comment

The RSI is bullish and calls for further advance.

SGX FTSE China A50  

may rise to 16700.00 – 16770.00

Pivot

16520.00

Our preference

Long positions above 16520.00 with targets at 16700.00 & 16770.00 in extension.

Alternative scenario

Below 16520.00 look for further downside with 16430.00 & 16300.00 as targets.

Comment

The RSI advocates for further upside.

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.