Doo Prime Daily Featured Trading Strategies – December 23, 2020
- Daily technical analysis of selected currency pairs
GBP/HKD Bullish
Image Features: forms “Inside Bar (Bullish)” pattern
Target
Opportunity recognized 2020 Dec 22 for the period of up to 48 hours
+0.02546 (2546 pips) price change since the Technical Event at 10.35909
Technical Analysis
We found a pattern called Inside Bar (Bullish) on 2020 Dec 22 at 21:00 GMT on a 4 hour chart suggesting the outlook is bullish for up to 48 hours.
The Momentum oscillator crossed above 0 on 2020 Dec 22 at 21:00 GMT, thereby signaling a new accelerating uptrend.
EUR/CAD Bearish
Image Features: forms “Shooting Star” pattern
Target
Opportunity recognized 2020 Dec 22 for the period of up to 48 hours
-0.00231 (231 pips) price change since the Technical Event at 1.57237
Technical Analysis
We found a pattern called Shooting Star on 2020 Dec 22 at 17:00 GMT on a 4 hour chart suggesting the outlook is bearish for up to 48 hours.
The Momentum oscillator crossed below 0 on 2020 Dec 23 at 01:00 GMT, thereby signaling a new accelerating downtrend.
- 2. Daily Analyst View
EUR/USD
may rise 33 – 58 pips
Pivot
1.2150
Our preference
Long positions above 1.2150 with targets at 1.2205 & 1.2230 in extension.
Alternative scenario
Below 1.2150 look for further downside with 1.2130 & 1.2110 as targets.
Comment
A support base at 1.2150 has formed and has allowed for a temporary stabilisation.
GBP/USD
may rise 51 – 116 pips
Pivot
1.3320
Our preference
Long positions above 1.3320 with targets at 1.3435 & 1.3500 in extension.
Alternative scenario
Below 1.3320 look for further downside with 1.3275 & 1.3230 as targets.
Comment
The RSI has just landed on its neutrality area at 50% and is turning up.
USD/CAD
may fall 29 – 59 pips
Pivot
1.2930
Our preference
Short positions below 1.2930 with targets at 1.2865 & 1.2835 in extension.
Alternative scenario
Above 1.2930 look for further upside with 1.2960 & 1.2990 as targets.
Comment
As long as the resistance at 1.2930 is not surpassed, the risk of the break below 1.2865 remains high.
Gold
may fall to 1844.00 – 1855.00
Pivot
1875.00
Our preference
Short positions below 1875.00 with targets at 1855.00 & 1844.00 in extension.
Alternative scenario
Above 1875.00 look for further upside with 1886.00 & 1892.00 as targets.
Comment
The RSI is mixed to bearish.
Brent (ICE)
may fall to 48.70 – 49.20
Pivot
50.40
Our preference
Short positions below 50.40 with targets at 49.20 & 48.70 in extension.
Alternative scenario
Above 50.40 look for further upside with 50.70 & 51.10 as targets.
Comment
A break below 49.20 would trigger a drop towards 48.70.
S&P 500 (CME)
may fall to 3596.00 – 3625.00
Pivot
3684.00
Our preference
Short positions below 3684.00 with targets at 3625.00 & 3596.00 in extension.
Alternative scenario
Above 3684.00 look for further upside with 3697.00 & 3723.00 as targets.
Comment
The RSI is bearish and calls for further downside.
Dax (Eurex)
may fall to 13130.00 – 13220.00
Pivot
13430.00
Our preference
Short positions below 13430.00 with targets at 13220.00 & 13130.00 in extension.
Alternative scenario
Above 13430.00 look for further upside with 13525.00 & 13590.00 as targets.
Comment
The RSI has just struck against its neutrality area at 50% and is reversing down.
SGX FTSE China A50
may rise to 17000.00 – 17090.00
Pivot
16840.00
Our preference
Long positions above 16840.00 with targets at 17000.00 & 17090.00 in extension.
Alternative scenario
Below 16840.00 look for further downside with 16770.00 & 16700.00 as targets.
Comment
The RSI is bullish and calls for further advance.
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.
