Doo Prime Daily Featured Trading Strategies – December 21, 2020 - Doo Prime News
Doo Prime News > Important Notice > Doo Prime Daily Featured Trading Strategies – December 21, 2020

Doo Prime Daily Featured Trading Strategies – December 21, 2020 

  1. Daily technical analysis of selected currency pairs 

AUD/CHF Bearish

Image Features:  forms “Diamond Top” pattern

Target

Opportunity recognized 2020 Dec 20 for the period of up to 48 hours

-0.00106 (107 pips) price change since the Technical Event at 0.67205

Technical Analysis

We found a pattern called Diamond Top on 2020 Dec 20 at 21:15 GMT on a 15 minute chart, providing a target price for up to 48 hours in the range of 0.67000 to 0.68000.

The faster moving average crossed below the slower moving average on 2020 Dec 21 at 01:00 GMT, signaling a new downtrend has been established.

NZD/SGD  Bearish

Image Features:  forms “Downside Breakout” pattern

Target
Opportunity recognized 2020 Dec 20 for the period of up to 48 hours

-0.00053 (53 pips) price change since the Technical Event at 0.94472

Technical Analysis

We found a pattern called Downside Breakout on 2020 Dec 20 at 23:45 GMT on a 15 minute chart, providing a target price for up to 48 hours in the range of 0.94000 to 0.95000.

The price crossed below its moving average on 2020 Dec 18 at 22:00 GMT signaling a new downtrend has been established.

  1. Daily Analyst View

EUR/USD

may fall 24 – 44 pips

Pivot

1.2250

Our preference

Short positions below 1.2250 with targets at 1.2200 & 1.2180 in extension.

Alternative scenario

Above 1.2250 look for further upside with 1.2270 & 1.2290 as targets.

Comment

As long as the resistance at 1.2250 is not surpassed, the risk of the break below 1.2200 remains high.

 

GBP/USD

may fall 45 – 85 pips

Pivot

1.3470

Our preference

Short positions below 1.3470 with targets at 1.3360 & 1.3320 in extension.

Alternative scenario

Above 1.3470 look for further upside with 1.3520 & 1.3560 as targets.

Comment

The RSI shows downside momentum.

USD/CAD

may rise 18 – 38 pips

Pivot

1.2775

Our preference

Long positions above 1.2775 with targets at 1.2825 & 1.2845 in extension.

Alternative scenario

Below 1.2775 look for further downside with 1.2755 & 1.2735 as targets.

Comment

The RSI is bullish and calls for further upside.

Gold

may rise to 1910.00 – 1920.00

Pivot

1882.00

Our preference

Long positions above 1882.00 with targets at 1910.00 & 1920.00 in extension.

Alternative scenario

Below 1882.00 look for further downside with 1877.00 & 1867.00 as targets.

Comment

The RSI shows upside momentum.

Brent (ICE)

may fall to 49.80 – 50.35

Pivot

51.80

Our preference

Short positions below 51.80 with targets at 50.35 & 49.80 in extension.

Alternative scenario

Above 51.80 look for further upside with 52.15 & 52.50 as targets.

Comment

The RSI has broken down its 30 level.

S&P 500 (CME)

may rise to 3723.00 – 3750.00

Pivot

3690.00

Our preference

Long positions above 3690.00 with targets at 3723.00 & 3750.00 in extension.

Alternative scenario

Below 3690.00 look for further downside with 3677.00 & 3664.00 as targets.

Comment

The RSI is mixed with a bullish bias.

Dax (Eurex)

may fall to 13285.00 – 13375.00

Pivot

13585.00

Our preference

Short positions below 13585.00 with targets at 13375.00 & 13285.00 in extension.

Alternative scenario

Above 13585.00 look for further upside with 13700.00 & 13760.00 as targets.

Comment

The RSI is bearish and calls for further downside.

SGX FTSE China A50

may fall to 16525.00 – 16630.00

Pivot

16935.00

Our preference

Short positions below 16935.00 with targets at 16630.00 & 16525.00 in extension.

Alternative scenario

Above 16935.00 look for further upside with 17010.00 & 17080.00 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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