Doo Prime Daily Featured Trading Strategies – November 19, 2020 - Doo Prime News
Doo Prime News > Important Notice > Doo Prime Daily Featured Trading Strategies – November 19, 2020

Doo Prime Daily Featured Trading Strategies – November 19, 2020 

  1. Daily technical analysis of selected currency pairs 

GBP/JPY  Bullish

Image Features: forms “Hammer” pattern

Target

Opportunity recognized 2020 Nov 19 for the period of up to 12 hours

+0.056 (56 pips) price change since the Technical Event at 137.382

Technical Analysis

We found a pattern called Hammer on 2020 Nov 19 at 01:30 GMT on a 30 minute chart suggesting the outlook is bullish for up to 12 hours.

The RSI rose above 30 on 2020 Nov 19 at 02:00 GMT, telling us the price is starting to recover from being oversold.

NZD/CHF  Bullish

Image Features:  forms “Hammer” pattern

Target

Opportunity recognized 2020 Nov 19 for the period of up to 12 hours

+0.00018 (18 pips) price change since the Technical Event at 0.62943

Technical Analysis

We found a pattern called Hammer on 2020 Nov 19 at 02:30 GMT on a 30 minute chart suggesting the outlook is bullish for up to 12 hours.

A bullish event triggered for Fast Stochastics on 2020 Nov 19 at 02:30 GMT when the %K line crossed above the %D line. The close prices are trading closer to the upper end of the recent high-low price range, which is associated with price increases.

  1. Daily analyst View

EUR/USD

may fall 18 – 38 pips

Pivot

1.1860

Our preference

Short positions below 1.1860 with targets at 1.1820 & 1.1800 in extension.

Alternative scenario

Above 1.1860 look for further upside with 1.1875 & 1.1890 as targets.

Comment

The RSI is bearish and calls for further decline.

GBP/USD

may fall 22 – 42 pips

Pivot

1.3265

Our preference

Short positions below 1.3265 with targets at 1.3210 & 1.3190 in extension.

Alternative scenario

Above 1.3265 look for further upside with 1.3290 & 1.3310 as targets.

Comment

The RSI has broken down its 30 level.

USD/CAD

may rise 34 – 54 pips

Pivot

1.3055

Our preference

Long positions above 1.3055 with targets at 1.3120 & 1.3140 in extension.

Alternative scenario

Below 1.3055 look for further downside with 1.3030 & 1.3000 as targets.

Comment

The RSI advocates for further upside.

Gold spot

may fall to 1855.00 – 1864.00

Pivot

1884.00

Our preference

Short positions below 1884.00 with targets at 1864.00 & 1855.00 in extension.

Alternative scenario

Above 1884.00 look for further upside with 1892.00 & 1899.00 as targets.

Comment

The RSI is mixed to bearish.

Brent (ICE)

may fall to 43.50 – 43.80

Pivot

44.55

Our preference

Short positions below 44.55 with targets at 43.80 & 43.50 in extension.

Alternative scenario

Above 44.55 look for further upside with 44.90 & 45.30 as targets.

Comment

The RSI advocates for further decline.

S&P 500 (CME)

may fall to 3513.00 – 3539.00

Pivot

3586.00

Our preference

Short positions below 3586.00 with targets at 3539.00 & 3513.00 in extension.

Alternative scenario

Above 3586.00 look for further upside with 3607.00 & 3630.00 as targets.

Comment

The RSI shows downside momentum.

Dax (Eurex)

may rise to 13190.00 – 13245.00

Pivot

13035.00

Our preference

Long positions above 13035.00 with targets at 13190.00 & 13245.00 in extension.

Alternative scenario

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

Comment

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

FTSE China A50

may rise to 17160.00 – 17405.00

Pivot

15966.00

Our preference

As long as 15966 is support look for 17160.

Alternative scenario

The downside breakout of 15966 would call for 15560 and 15318.

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 16126.92 and 15775.67).

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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