Doo Prime Daily Featured Trading Strategies – November 18, 2020 - Doo Prime News
Doo Prime News > Important Notice > Doo Prime Daily Featured Trading Strategies – November 18, 2020

Doo Prime Daily Featured Trading Strategies – November 18, 2020 

  1. Daily technical analysis of selected currency pairs 

USD/CHF Bullish

Image Features:  forms “Hammer” pattern

Target

Opportunity recognized 2020 Nov 18 for the period of up to 12 hours

+0.00020 (2 pips) price change since the Technical Event at 0.91121

Technical Analysis

We found a pattern called Hammer on 2020 Nov 18 at 03:00 GMT on a 15 minute chart suggesting the outlook is bullish for up to 12 hours.The Momentum oscillator crossed above 0 on 2020 Nov 18 at 03:30 GMT, thereby signaling a new accelerating uptrend.

 

NZD/CAD  Bearish

Image Features:    forms “Hanging Man” pattern

Target

Opportunity recognized 2020 Nov 18 for the period of up to 12 hours

+0.00010 (1 pips) price change since the Technical Event at 0.90245

Technical Analysis

We found a pattern called Hanging Man on 2020 Nov 18 at 03:00 GMT on a 15 minute chart suggesting the outlook is bearish for up to 12 hours.

The price crossed below its moving average on 2020 Nov 18 at 03:15 GMT signaling a new downtrend has been established.

  1. Daily analyst View

EUR/USD

may fall 20 – 35 pips

Pivot

1.1875

Our preference

Short positions below 1.1875 with targets at 1.1840 & 1.1825 in extension.

Alternative scenario

Above 1.1875 look for further upside with 1.1895 & 1.1910 as targets.

Comment

As long as 1.1875 is resistance, look for choppy price action with a bearish bias.

GBP/USD

may rise 19 – 39 pips

Pivot

1.3235

Our preference

Long positions above 1.3235 with targets at 1.3270 & 1.3290 in extension.

Alternative scenario

Below 1.3235 look for further downside with 1.3210 & 1.3190 as targets.

Comment

A support base at 1.3235 has formed and has allowed for a temporary stabilisation.

USD/CAD

may rise 21 – 46 pips

Pivot

1.3085

Our preference

Long positions above 1.3085 with targets at 1.3125 & 1.3150 in extension.

Alternative scenario

Below 1.3085 look for further downside with 1.3060 & 1.3040 as targets.

Comment

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Gold spot

may fall to 1864.00 – 1872.00

Pivot

1887.00

Our preference

Short positions below 1887.00 with targets at 1872.00 & 1864.00 in extension.

Alternative scenario

Above 1887.00 look for further upside with 1894.00 & 1899.00 as targets.

Comment

As long as 1887.00 is resistance, look for choppy price action with a bearish bias.

 

Brent (ICE)

may rise to 44.00 – 44.25

Pivot

43.40

Our preference

Long positions above 43.40 with targets at 44.00 & 44.25 in extension.

Alternative scenario

Below 43.40 look for further downside with 43.05 & 42.65 as targets.

Comment

The RSI is mixed.

S&P 500 (CME)

may rise to 3636.00 – 3668.00

Pivot

3585.00

Our preference

Long positions above 3585.00 with targets at 3636.00 & 3668.00 in extension.

Alternative scenario

Below 3585.00 look for further downside with 3566.00 & 3547.00 as targets.

Comment

The immediate trend remains up but the momentum is weak.

Dax (Eurex)

may rise to 13190.00 – 13275.00

Pivot

13035.00

Our preference

Long positions above 13035.00 with targets at 13190.00 & 13275.00 in extension.

Alternative scenario

Below 13035.00 look for further downside with 12970.00 & 12920.00 as targets.

Comment

The RSI is mixed to bullish.

FTSE China A50

may rise to 17102.00 – 17346.00

Pivot

15893.00

Our preference

As long as 15893 is support look for 17102.

Alternative scenario

Below 15893, expect 15486 and 15245.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The index could retrace in the short term. FTSE China A50 index is above its 20 and 50 period MA (respectively at 16112.33 and 15763.84).

 

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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