Doo Prime Daily Featured Trading Strategies – November 27, 2020
- Daily technical analysis of selected currency pairs
NZD/USD Bearish
Image Features: forms “Hanging Man” pattern
Target
Opportunity recognized 2020 Nov 27 for the period of up to 12 hours
-0.00013 (13 pips) price change since the Technical Event at 0.70076
Technical Analysis
We found a pattern called Hanging Man on 2020 Nov 27 at 01:30 GMT on a 30 minute chart suggesting the outlook is bearish for up to 12 hours.
The Momentum oscillator crossed below 0 on 2020 Nov 27 at 02:00 GMT, thereby signaling a new accelerating downtrend.
GBP/AUD Bearish
Image Features: forms “Inside Bar (Bearish)” pattern
Target
Opportunity recognized 2020 Nov 27 for the period of up to 12 hours
+0.00036 (36 pips) price change since the Technical Event at 1.81481
Technical Analysis
We found a pattern called Inside Bar (Bearish) on 2020 Nov 27 at 02:00 GMT on a 30 minute chart suggesting the outlook is bearish for up to 12 hours.
A bearish event triggered for Slow Stochastics on 2020 Nov 27 at 01:30 GMT when the %K line crossed below the %D line. The close prices are trading closer to the lower end of the recent high-low price range, which is associated with price decreases
- Daily analyst View
EUR/USD
may fall 11 – 26 pips
Pivot
1.1920
Our preference
Short positions below 1.1920 with targets at 1.1900 & 1.1885 in extension.
Alternative scenario
Above 1.1920 look for further upside with 1.1940 & 1.1955 as targets.
Comment
The upward potential is likely to be limited by the resistance at 1.1920.
GBP/USD
may fall 16 – 31 pips
Pivot
1.3365
Our preference
Short positions below 1.3365 with targets at 1.3335 & 1.3320 in extension.
Alternative scenario
Above 1.3365 look for further upside with 1.3380 & 1.3400 as targets.
Comment
As long as the resistance at 1.3365 is not surpassed, the risk of the break below 1.3335 remains high.
USD/CAD
may rise 8 – 28 pips
Pivot
1.3005
Our preference
Long positions above 1.3005 with targets at 1.3030 & 1.3050 in extension.
Alternative scenario
Below 1.3005 look for further downside with 1.2985 & 1.2970 as targets.
Comment
The RSI calls for a rebound.
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 1833.00 & 1841.00 as targets.
Comment
As long as 1820.00 is resistance, look for choppy price action with a bearish bias.
Brent (ICE)
may fall to 46.70 – 47.20
Pivot
48.40
Our preference
Short positions below 48.40 with targets at 47.20 & 46.70 in extension.
Alternative scenario
Above 48.40 look for further upside with 48.70 & 49.10 as targets.
Comment
The RSI is bearish and calls for further downside.
S&P 500 (CME)
may rise to 3638.00 – 3655.00
Pivot
3605.00
Our preference
Long positions above 3605.00 with targets at 3638.00 & 3655.00 in extension.
Alternative scenario
Below 3605.00 look for further downside with 3593.00 & 3581.00 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Dax (Eurex)
may fall to 13160.00 – 13226.00
Pivot
13327.00
Our preference
Short positions below 13327.00 with targets at 13226.00 & 13160.00 in extension.
Alternative scenario
Above 13327.00 look for further upside with 13370.00 & 13410.00 as targets.
Comment
The RSI lacks momentum.
SGX FTSE China A50
may rise to 16725.00 – 16805.00
Pivot
16510.00
Our preference
Long positions above 16510.00 with targets at 16725.00 & 16805.00 in extension.
Alternative scenario
Below 16510.00 look for further downside with 16395.00 & 16320.00 as targets.
Comment
The RSI is bullish and calls for further upside.
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.
Daily Featured Trading Strategies
