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HomeDoo Prime Daily Featured Trading Strategies – December 30, 2020
- Daily technical analysis of selected currency pairs
AUD/NZD Bullish
Image Features: forms “Triple Bottom” pattern
Target
Opportunity recognized 2020 Dec 30 for the period of up to 48 hours
+0.00004 (04 pips) price change since the Technical Event at 1.06513
Technical Analysis
We found a pattern called Triple Bottom on 2020 Dec 30 at 03:00 GMT on a 30 minute chart, providing a target price for up to 48 hours in the range of 1.07000 to 1.08000.
The price crossed above its moving average on 2020 Dec 30 at 03:00 GMT signaling a new uptrend has been established.
SGD/JPY Bearish
Image Features: forms “Flag (Bearish)” pattern
Target
Opportunity recognized 2020 Dec 30 for the period of up to 48 hours
+0.056 (56 pips) price change since the Technical Event at 77.955
Technical Analysis
We found a pattern called Flag (Bearish) on 2020 Dec 30 at 02:00 GMT on a 1 hour chart, providing a target price for up to 48 hours in the range of 77.710 to 77.750.
The price crossed below its moving average on 2020 Dec 30 at 02:00 GMT signaling a new downtrend has been established.
- 2. Daily Analyst View
EUR/USD
may rise 24 – 44 pips
Pivot
1.2240
Our preference
Long positions above 1.2240 with targets at 1.2300 & 1.2320 in extension.
Alternative scenario
Below 1.2240 look for further downside with 1.2220 & 1.2205 as targets.
Comment
The RSI advocates for further advance.
GBP/USD
may rise 24 – 54 pips
Pivot
1.3480
Our preference
Long positions above 1.3480 with targets at 1.3545 & 1.3575 in extension.
Alternative scenario
Below 1.3480 look for further downside with 1.3460 & 1.3435 as targets.
Comment
The RSI calls for a new upleg.
USD/CAD
may fall 23 – 43 pips
Pivot
1.2840
Our preference
Short positions below 1.2840 with targets at 1.2795 & 1.2775 in extension.
Alternative scenario
Above 1.2840 look for further upside with 1.2855 & 1.2875 as targets.
Comment
A break below 1.2795 would trigger a drop towards 1.2775.
Gold
may fall to 1862.00 – 1869.00
Pivot
1887.00
Our preference
Short positions below 1887.00 with targets at 1869.00 & 1862.00 in extension.
Alternative scenario
Above 1887.00 look for further upside with 1894.00 & 1900.00 as targets.
Comment
Intraday technical indicators are mixed.
Brent (ICE)
may rise to 51.70 – 52.05
Pivot
51.00
Our preference
Long positions above 51.00 with targets at 51.70 & 52.05 in extension.
Alternative scenario
Below 51.00 look for further downside with 50.60 & 50.30 as targets.
Comment
The RSI calls for a rebound.
S&P 500 (CME)
may fall to 3688.00 – 3701.00
Pivot
3737.00
Our preference
Short positions below 3737.00 with targets at 3701.00 & 3688.00 in extension.
Alternative scenario
Above 3737.00 look for further upside with 3747.00 & 3759.00 as targets.
Comment
The RSI is mixed to bearish.
Dax (Eurex)
may fall to 13500.00 – 13600.00
Pivot
13820.00
Our preference
Short positions below 13820.00 with targets at 13600.00 & 13500.00 in extension.
Alternative scenario
Above 13820.00 look for further upside with 13895.00 & 14030.00 as targets.
Comment
The RSI is bearish and calls for further downside.
SGX FTSE China A50
may rise to 17290.00 – 17390.00
Pivot
17115.00
Our preference
Long positions above 17115.00 with targets at 17290.00 & 17390.00 in extension.
Alternative scenario
Below 17115.00 look for further downside with 17075.00 & 17020.00 as targets.
Comment
The RSI advocates 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.
