Doo Prime Daily Featured Trading Strategies – December 7, 2020 - Doo Prime News
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Doo Prime Daily Featured Trading Strategies – December 7, 2020 

  1. Daily technical analysis of selected currency pairs 

GBP/NZD  Bearish

 

Image Features: forms “Engulfing Line (Bearish)” pattern

Target

Opportunity recognized 2020 Dec 04 for the period of up to 48 hours

-0.00160 (16 pips) price change since the Technical Event at 1.90860

Technical Analysis

We found a pattern called Engulfing Line (Bearish) on 2020 Dec 04 at 21:00 GMT on a 4 hour chart suggesting the outlook is bearish for up to 48 hours.

A bearish event triggered for Slow Stochastics on 2020 Dec 05 at 01:00 GMT when the %K line crossed below the %D line. The close prices are trading closer to the lower end of the recent high-low price range, which is associated with price decreases

SGD/JPY   Bearish

 

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

Target

Opportunity recognized 2020 Dec 04 for the period of up to 48 hours

-0.113 (113 pips) price change since the Technical Event at 78.040

Technical Analysis

We found a pattern called Inside Bar (Bearish) on 2020 Dec 04 at 21:00 GMT on a 4 hour chart suggesting the outlook is bearish for up to 48 hours.

The MACD generated a bearish signal on 2020 Dec 05 at 01:00 GMT.

  1. Daily analyst View

EUR/USD

may fall 26 – 46 pips

Pivot

1.2150

Our preference

Short positions below 1.2150 with targets at 1.2100 & 1.2080 in extension.

Alternative scenario

Above 1.2150 look for further upside with 1.2175 & 1.2200 as targets.

Comment

The RSI calls for a drop.

GBP/USD

may fall 41 – 66 pips

Pivot

1.3450

Our preference

Short positions below 1.3450 with targets at 1.3385 & 1.3360 in extension.

Alternative scenario

Above 1.3450 look for further upside with 1.3490 & 1.3535 as targets.

Comment

The upward potential is likely to be limited by the resistance at 1.3450.

USD/CAD

may fall 44 – 84 pips

Pivot

1.2835

Our preference

Short positions below 1.2835 with targets at 1.2740 & 1.2700 in extension.

Alternative scenario

Above 1.2835 look for further upside with 1.2875 & 1.2910 as targets.

Comment

The RSI advocates for further downside.

Gold spot

may fall to 1823.00 – 1829.00

Pivot

1845.00

Our preference

Short positions below 1845.00 with targets at 1829.00 & 1823.00 in extension.

Alternative scenario

Above 1845.00 look for further upside with 1855.00 & 1861.00 as targets.

Comment

As long as 1845.00 is resistance, look for choppy price action with a bearish bias.

Brent (ICE)

may rise to 49.90 – 50.45

Pivot

48.75

Our preference

Long positions above 48.75 with targets at 49.90 & 50.45 in extension.

Alternative scenario

Below 48.75 look for further downside with 48.15 & 47.70 as targets.

Comment

The RSI is mixed and calls for caution.

S&P 500 (CME)

may rise to 3705.00 – 3724.00

Pivot

3678.00

Our preference

Long positions above 3678.00 with targets at 3705.00 & 3724.00 in extension.

Alternative scenario

Below 3678.00 look for further downside with 3667.00 & 3655.00 as targets.

Comment

The RSI calls for a new upleg.

Dax (Eurex)

may rise to 13315.00 – 13370.00

Pivot

13230.00

Our preference

Long positions above 13230.00 with targets at 13315.00 & 13370.00 in extension.

Alternative scenario

Below 13230.00 look for further downside with 13200.00 & 13145.00 as targets.

Comment

The RSI is bullish and calls for further upside.

SGX FTSE China A50

may fall to 16750.00 – 16880.00

Pivot

17110.00

Our preference

Short positions below 17110.00 with targets at 16880.00 & 16750.00 in extension.

Alternative scenario

Above 17110.00 look for further upside with 17215.00 & 17370.00 as targets.

Comment

As long as 17110.00 is resistance, look for choppy price action with a bearish bias.

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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