Doo Prime Daily Featured Trading Strategies – November 19, 2020
- 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.
- 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.
