Doo Prime Daily Featured Trading Strategies – November 13, 2020
- Daily technical analysis of selected currency pairs
EUR/AUD Bearish
Image Features: forms “Engulfing Line (Bearish)” pattern
Target
Opportunity recognized 2020 Nov 13 for the period of up to 12 hours
+0.00307 (307 pips) price change since the Technical Event at 1.63010
Technical Analysis
We found a pattern called Engulfing Line (Bearish) on 2020 Nov 13 at 00:00 GMT on a 1 hour chart suggesting the outlook is bearish for up to 12 hours.
The RSI fallen below 70 on 2020 Nov 13 at 03:00 GMT, telling us the price is starting to pull back from being overbought.
EUR/GBP Bearish
Image Features: forms “Inside Bar (Bearish)” pattern
Target
Opportunity recognized 2020 Nov 13 for the period of up to 12 hours
+0.00042 (42 pips) price change since the Technical Event at 0.89952
Technical Analysis
We found a pattern called Inside Bar (Bearish) on 2020 Nov 13 at 00:00 GMT on a 1 hour chart suggesting the outlook is bearish for up to 12 hours.
The MACD generated a bearish signal on 2020 Nov 13 at 03:00 GMT.
- Daily analyst View
EUR/USD
may rise 26 – 51 pips
Pivot
1.1780
Our preference
Long positions above 1.1780 with targets at 1.1835 & 1.1860 in extension.
Alternative scenario
Below 1.1780 look for further downside with 1.1760 & 1.1745 as targets.
Comment
The RSI is mixed with a bullish bias.
GBP/USD
may fall 33 – 73 pips
Pivot
1.3170
Our preference
Short positions below 1.3170 with targets at 1.3090 & 1.3050 in extension.
Alternative scenario
Above 1.3170 look for further upside with 1.3200 & 1.3230 as targets.
Comment
The RSI is mixed with a bearish bias.
USD/CAD
may rise 27 – 52 pips
Pivot
1.3110
Our preference
Long positions above 1.3110 with targets at 1.3175 & 1.3200 in extension.
Alternative scenario
Below 1.3110 look for further downside with 1.3090 & 1.3075 as targets.
Comment
The RSI is bullish and calls for further upside.
Gold spot
may rise to 1890.00 – 1900.00
Pivot
1862.00
Our preference
Long positions above 1862.00 with targets at 1890.00 & 1900.00 in extension.
Alternative scenario
Below 1862.00 look for further downside with 1850.00 & 1839.00 as targets.
Comment
The RSI is mixed to bullish.
Brent (ICE)
may fall to 42.10 – 42.60
Pivot
44.05
Our preference
Short positions below 44.05 with targets at 42.60 & 42.10 in extension.
Alternative scenario
Above 44.05 look for further upside with 44.50 & 45.30 as targets.
Comment
The RSI advocates for further downside.
S&P 500 (CME)
may fall to 3476.00 – 3506.00
Pivot
3576.00
Our preference
Short positions below 3576.00 with targets at 3506.00 & 3476.00 in extension.
Alternative scenario
Above 3576.00 look for further upside with 3598.00 & 3622.00 as targets.
Comment
The RSI is mixed to bearish.
Dax (Eurex)
may fall to 12675.00 – 12820.00
Pivot
13160.00
Our preference
Short positions below 13160.00 with targets at 12820.00 & 12675.00 in extension.
Alternative scenario
Above 13160.00 look for further upside with 13290.00 & 13460.00 as targets.
Comment
The RSI is bearish and calls for further decline.
FTSE China A50
may rise to 17233.00 – 17476.00
Pivot
16021.00
Our preference
The upside prevails as long as 16021 is support.
Alternative scenario
The downside breakout of 16021 would call for 15616 and 15376.
Comment
The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. FTSE China A50 index is above its 20 and 50 period MA (respectively at 16071.29 and 15729.35).
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.
