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HomeDoo Prime Daily Featured Trading Strategies – November 18, 2020
- 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.
- 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.
