Doo Prime Daily Featured Trading Strategies – November 3, 2020 - Doo Prime News
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Doo Prime Daily Featured Trading Strategies – November 3, 2020 

  1. Daily technical analysis of selected currency pairs 

AUD/USD  Bullish

Image Features:  forms “Double Bottom” pattern

Target

Opportunity recognized 2020 Nov 02 for the period of up to 12 hours

+0.00117 (117 pips) price change since the Technical Event at 0.70464

Technical Analysis

We found a pattern called Double Bottom on 2020 Nov 02 at 19:30 GMT on a 15 minute chart, providing a target price for up to 12 hours in the range of 0.71000 to 0.72000.

The CCI triggered a bullish signal on 2020 Nov 03 at 02:15 GMT by crossing above the +100% level.

The price crossed below its moving average on 2020 Oct 30 at 03:30 GMT signaling a new downtrend has been established.

NZD/USD  Bullish

Image Features:  forms “Hammer” pattern

Target

Opportunity recognized 2020 Nov 02 for the period of up to 12 hours

+0.00236 (236 pips) price change since the Technical Event at 0.66179

Technical Analysis

We found a pattern called Hammer on 2020 Nov 02 at 19:00 GMT on a 1 hour chart suggesting the outlook is bullish for up to 12 hours.

The CCI triggered a bullish signal on 2020 Nov 03 at 02:00 GMT by crossing above the +100% level.

  1. Daily analyst View

EUR/USD

may rise 9 – 34 pips

Pivot

1.1620

Our preference

Long positions above 1.1620 with targets at 1.1655 & 1.1680 in extension.

Alternative scenario

Below 1.1620 look for further downside with 1.1600 & 1.1580 as targets.

Comment

The RSI calls for a rebound.

GBP/USD

may rise 19 – 39 pips

Pivot

1.2890

Our preference

Long positions above 1.2890 with targets at 1.2940 & 1.2960 in extension.

Alternative scenario

Below 1.2890 look for further downside with 1.2870 & 1.2850 as targets.

Comment

The RSI advocates for further upside.

USD/CAD

may fall 26 – 56 pips

Pivot

1.3265

Our preference

Short positions below 1.3265 with targets at 1.3195 & 1.3165 in extension.

Alternative scenario

Above 1.3265 look for further upside with 1.3300 & 1.3345 as targets.

Comment

A break below 1.3195 would trigger a drop towards 1.3165.

Gold spot

may rise to 1904.00 – 1911.00

Pivot

1884.00

Our preference

Long positions above 1884.00 with targets at 1904.00 & 1911.00 in extension.

Alternative scenario

Below 1884.00 look for further downside with 1873.00 & 1866.00 as targets.

Comment

The RSI is mixed with a bullish bias.

Brent (ICE)

may fall to 33.80 – 35.70

Pivot

41.70

Our preference

Short positions below 41.70 with targets at 35.70 & 33.80 in extension.

Alternative scenario

Above 41.70 look for further upside with 44.60 & 47.20 as targets.

Comment

As long as the resistance at 41.70 is not surpassed, the risk of the break below 35.70 remains high.

S&P 500 (CME)

may fall to 3225.00 – 3272.00

Pivot

3334.00

Our preference

Short positions below 3334.00 with targets at 3272.00 & 3225.00 in extension.

Alternative scenario

Above 3334.00 look for further upside with 3360.00 & 3390.00 as targets.

Comment

As long as 3334.00 is resistance, expect a return to 3272.00.

Dax (Eurex)

may rise to 11980.00 – 12090.00

Pivot

11530.00

Our preference

Long positions above 11530.00 with targets at 11980.00 & 12090.00 in extension.

Alternative scenario

Below 11530.00 look for further downside with 11310.00 & 11140.00 as targets.

Comment

The RSI is bullish and calls for further upside.

FTSE China A50

may rise to 16666.00 – 16928.00

Pivot

15347.00

Our preference

As long as 15347 is support look for 16666.

Alternative scenario

The downside breakout of 15347 would call for 14915 and 14657.

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 trading under its 20 day MA (15780.86) but above its 50 period MA (15596.42).

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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