Doo Prime Daily Featured Trading Strategies – November 17, 2020
- Daily technical analysis of selected currency pairs
EUR/JPY Bullish
Image Features: forms “Inside Bar (Bullish)” pattern
Target
Opportunity recognized 2020 Nov 17 for the period of up to 12 hours
+0.065 (65 pips) price change since the Technical Event at 123.920
Technical Analysis
We found a pattern called Inside Bar (Bullish) on 2020 Nov 17 at 00:45 GMT on a 15 minute chart suggesting the outlook is bullish for up to 12 hours.
The MACD generated a bullish signal on 2020 Nov 17 at 02:00 GMT.
USD/JPY Bullish
Image Features: forms “Outside Bar (Bullish)” pattern
Target
Opportunity recognized 2020 Nov 17 for the period of up to 12 hours
+0.040 (4 pips) price change since the Technical Event at 104.486
Technical Analysis
We found a pattern called Outside Bar (Bullish) on 2020 Nov 17 at 01:00 GMT on a 15 minute chart suggesting the outlook is bullish for up to 12 hours.
The MACD generated a bullish signal on 2020 Nov 17 at 02:00 GMT.
- Daily analyst View
EUR/USD
may rise 17 – 37 pips
Pivot
1.1835
Our preference
Long positions above 1.1835 with targets at 1.1880 & 1.1900 in extension.
Alternative scenario
Below 1.1835 look for further downside with 1.1815 & 1.1795 as targets.
Comment
The RSI calls for a new upleg.
GBP/USD
may rise 18 – 43 pips
Pivot
1.3185
Our preference
Long positions above 1.3185 with targets at 1.3235 & 1.3260 in extension.
Alternative scenario
Below 1.3185 look for further downside with 1.3165 & 1.3150 as targets.
Comment
A support base at 1.3185 has formed and has allowed for a temporary stabilisation.
USD/CAD
may fall 15 – 40 pips
Pivot
1.3105
Our preference
Short positions below 1.3105 with targets at 1.3055 & 1.3030 in extension.
Alternative scenario
Above 1.3105 look for further upside with 1.3125 & 1.3150 as targets.
Comment
The RSI shows downside momentum.
Gold spot
may rise to 1899.00 – 1909.00
Pivot
1879.00
Our preference
Long positions above 1879.00 with targets at 1899.00 & 1909.00 in extension.
Alternative scenario
Below 1879.00 look for further downside with 1871.00 & 1864.00 as targets.
Comment
The RSI is mixed to bullish.
Brent (ICE)
may rise to 44.65 – 44.95
Pivot
43.60
Our preference
Long positions above 43.60 with targets at 44.65 & 44.95 in extension.
Alternative scenario
Below 43.60 look for further downside with 43.20 & 42.65 as targets.
Comment
The RSI has just landed on its neutrality area at 50% and is turning up.
S&P 500 (CME)
may rise to 3636.00 – 3668.00
Pivot
3596.00
Our preference
Long positions above 3596.00 with targets at 3636.00 & 3668.00 in extension.
Alternative scenario
Below 3596.00 look for further downside with 3576.00 & 3547.00 as targets.
Comment
The RSI is mixed with a bullish bias.
Dax (Eurex)
may rise to 13290.00 – 13370.00
Pivot
13060.00
Our preference
Long positions above 13060.00 with targets at 13290.00 & 13370.00 in extension.
Alternative scenario
Below 13060.00 look for further downside with 12865.00 & 12740.00 as targets.
Comment
A support base at 13060.00 has formed and has allowed for a temporary stabilisation.
FTSE China A50
may rise to 17022.00 – 17267.00
Pivot
15786.00
Our preference
The upside prevails as long as 15786 is support.
Alternative scenario
The downside breakout of 15786 would call for 15382 and 15140.
Comment
The RSI is above 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 16096.87 and 15752.22).
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.
