Doo Prime Daily Featured Trading Strategies – November 26, 2020
- Daily technical analysis of selected currency pairs
NZD/JPY Bearish
Image Features: forms “Engulfing Line (Bearish)” pattern
Target
Opportunity recognized 2020 Nov 26 for the period of up to 48 hours
-0.037 (37 pips) price change since the Technical Event at 73.095
Technical Analysis
We found a pattern called Engulfing Line (Bearish) on 2020 Nov 26 at 01:00 GMT on a 4 hour chart suggesting the outlook is bearish for up to 48 hours.
The RSI fallen below 70 on 2020 Nov 26 at 01:00 GMT, telling us the price is starting to pull back from being overbought.
AUD/USD Bearish
Image Features: forms “Two Bar Reversal (Bearish)” pattern
Target
Opportunity recognized 2020 Nov 26 for the period of up to 12 hours
-0.00002 (02 pips) price change since the Technical Event at 0.73662
Technical Analysis
We found a pattern called Two Bar Reversal (Bearish) on 2020 Nov 26 at 02:00 GMT on a 30 minute chart suggesting the outlook is bearish for up to 12 hours.
The Williams %R indicator triggered a bearish signal on 2020 Nov 26 at 02:30 GMT, having fallen out of overbought (-20 level) and continued on to cross below the -50 level.
- Daily analyst View
EUR/USD
may rise 22 – 42 pips
Pivot
1.1900
Our preference
Long positions above 1.1900 with targets at 1.1950 & 1.1970 in extension.
Alternative scenario
Below 1.1900 look for further downside with 1.1880 & 1.1865 as targets.
Comment
The RSI calls for a new upleg.
GBP/USD
may rise 14 – 39 pips
Pivot
1.3365
Our preference
Long positions above 1.3365 with targets at 1.3410 & 1.3435 in extension.
Alternative scenario
Below 1.3365 look for further downside with 1.3335 & 1.3310 as targets.
Comment
The RSI advocates for further upside.
USD/CAD
may fall 9 – 29 pips
Pivot
1.3015
Our preference
Short positions below 1.3015 with targets at 1.2985 & 1.2965 in extension.
Alternative scenario
Above 1.3015 look for further upside with 1.3030 & 1.3045 as targets.
Comment
A break below 1.2985 would trigger a drop towards 1.2965.
Gold spot
may fall to 1791.00 – 1800.00
Pivot
1820.00
Our preference
Short positions below 1820.00 with targets at 1800.00 & 1791.00 in extension.
Alternative scenario
Above 1820.00 look for further upside with 1831.00 & 1841.00 as targets.
Comment
The immediate trend remains down but the momentum is weak.
Brent (ICE)
may rise to 49.35 – 49.80
Pivot
48.40
Our preference
Long positions above 48.40 with targets at 49.35 & 49.80 in extension.
Alternative scenario
Below 48.40 look for further downside with 48.05 & 47.55 as targets.
Comment
The RSI advocates for further advance.
S&P 500 (CME)
may fall to 3605.00 – 3615.00
Pivot
3643.00
Our preference
Short positions below 3643.00 with targets at 3615.00 & 3605.00 in extension.
Alternative scenario
Above 3643.00 look for further upside with 3655.00 & 3668.00 as targets.
Comment
The RSI is mixed and calls for caution.
Dax (Eurex)
may rise to 13370.00 – 13410.00
Pivot
13226.00
Our preference
Long positions above 13226.00 with targets at 13370.00 & 13410.00 in extension.
Alternative scenario
Below 13226.00 look for further downside with 13160.00 & 13115.00 as targets.
Comment
The RSI calls for a new upleg.
SGX FTSE China A50
may rise to 16550.00 – 16635.00
Pivot
16395.00
Our preference
Long positions above 16395.00 with targets at 16550.00 & 16635.00 in extension.
Alternative scenario
Below 16395.00 look for further downside with 16320.00 & 16250.00 as targets.
Comment
The RSI calls for a rebound.
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.
