Doo Prime Daily Featured Trading Strategies – December 23, 2020 - Doo Prime News
Doo Prime News > Important Notice > Doo Prime Daily Featured Trading Strategies – December 23, 2020

Doo Prime Daily Featured Trading Strategies – December 23, 2020 

  1. Daily technical analysis of selected currency pairs 

GBP/HKD Bullish

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

Target

Opportunity recognized 2020 Dec 22 for the period of up to 48 hours

+0.02546 (2546 pips) price change since the Technical Event at 10.35909

Technical Analysis

We found a pattern called Inside Bar (Bullish) on 2020 Dec 22 at 21:00 GMT on a 4 hour chart suggesting the outlook is bullish for up to 48 hours.

The Momentum oscillator crossed above 0 on 2020 Dec 22 at 21:00 GMT, thereby signaling a new accelerating uptrend.

EUR/CAD    Bearish

Image Features: forms “Shooting Star” pattern

Target
Opportunity recognized 2020 Dec 22 for the period of up to 48 hours

-0.00231 (231 pips) price change since the Technical Event at 1.57237

Technical Analysis

We found a pattern called Shooting Star on 2020 Dec 22 at 17:00 GMT on a 4 hour chart suggesting the outlook is bearish for up to 48 hours.

The Momentum oscillator crossed below 0 on 2020 Dec 23 at 01:00 GMT, thereby signaling a new accelerating downtrend.

  1. 2. Daily Analyst View

EUR/USD

may rise 33 – 58 pips

Pivot

1.2150

Our preference

Long positions above 1.2150 with targets at 1.2205 & 1.2230 in extension.

Alternative scenario

Below 1.2150 look for further downside with 1.2130 & 1.2110 as targets.

Comment

A support base at 1.2150 has formed and has allowed for a temporary stabilisation.

GBP/USD

may rise 51 – 116 pips

Pivot

1.3320

Our preference

Long positions above 1.3320 with targets at 1.3435 & 1.3500 in extension.

Alternative scenario

Below 1.3320 look for further downside with 1.3275 & 1.3230 as targets.

Comment

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

 

USD/CAD

may fall 29 – 59 pips

Pivot

1.2930

Our preference

Short positions below 1.2930 with targets at 1.2865 & 1.2835 in extension.

Alternative scenario

Above 1.2930 look for further upside with 1.2960 & 1.2990 as targets.

Comment

As long as the resistance at 1.2930 is not surpassed, the risk of the break below 1.2865 remains high.

Gold

may fall to 1844.00 – 1855.00

Pivot

1875.00

Our preference

Short positions below 1875.00 with targets at 1855.00 & 1844.00 in extension.

Alternative scenario

Above 1875.00 look for further upside with 1886.00 & 1892.00 as targets.

Comment

The RSI is mixed to bearish.

Brent (ICE)

may fall to 48.70 – 49.20

Pivot

50.40

Our preference

Short positions below 50.40 with targets at 49.20 & 48.70 in extension.

Alternative scenario

Above 50.40 look for further upside with 50.70 & 51.10 as targets.

Comment

A break below 49.20 would trigger a drop towards 48.70.

S&P 500 (CME)

may fall to 3596.00 – 3625.00

Pivot

3684.00

Our preference

Short positions below 3684.00 with targets at 3625.00 & 3596.00 in extension.

Alternative scenario

Above 3684.00 look for further upside with 3697.00 & 3723.00 as targets.

Comment

The RSI is bearish and calls for further downside.

Dax (Eurex)

may fall to 13130.00 – 13220.00

Pivot

13430.00

Our preference

Short positions below 13430.00 with targets at 13220.00 & 13130.00 in extension.

Alternative scenario

Above 13430.00 look for further upside with 13525.00 & 13590.00 as targets.

Comment

The RSI has just struck against its neutrality area at 50% and is reversing down.

   

SGX FTSE China A50

may rise to 17000.00 – 17090.00

Pivot

16840.00

Our preference

Long positions above 16840.00 with targets at 17000.00 & 17090.00 in extension.

Alternative scenario

Below 16840.00 look for further downside with 16770.00 & 16700.00 as targets.

Comment

The RSI is bullish and calls for further advance.

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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