Doo Prime Daily Featured Trading Strategies – November 30, 2020
- Daily technical analysis of selected currency pairs
NZD/USD Bearish
Image Features: forms “Hanging Man” pattern
Target
Opportunity recognized 2020 Nov 30 for the period of up to 12 hours
-0.00181 (181 pips) price change since the Technical Event at 0.70442
Technical Analysis
We found a pattern called Hanging Man on 2020 Nov 30 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 30 at 03:30 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
AUD/CAD Bearish
Image Features: forms “Hanging Man” pattern
Target
Opportunity recognized 2020 Nov 30 for the period of up to 12 hours
-0.00192 (192 pips) price change since the Technical Event at 0.96102
Technical Analysis
We found a pattern called Hanging Man on 2020 Nov 30 at 02:00 GMT on a 30 minute chart suggesting the outlook is bearish for up to 12 hours.
The MACD generated a bearish signal on 2020 Nov 30 at 04:00 GMT.
- Daily analyst View
EUR/USD
may rise 27 – 47 pips
Pivot
1.1940
Our preference
Long positions above 1.1940 with targets at 1.2000 & 1.2020 in extension.
Alternative scenario
Below 1.1940 look for further downside with 1.1915 & 1.1900 as targets.
Comment
The RSI is bullish and calls for further upside.
GBP/USD
may rise 18 – 38 pips
Pivot
1.3310
Our preference
Long positions above 1.3310 with targets at 1.3360 & 1.3380 in extension.
Alternative scenario
Below 1.3310 look for further downside with 1.3285 & 1.3260 as targets.
Comment
The RSI calls for a rebound.
USD/CAD
may fall 17 – 32 pips
Pivot
1.3010
Our preference
Short positions below 1.3010 with targets at 1.2970 & 1.2955 in extension.
Alternative scenario
Above 1.3010 look for further upside with 1.3025 & 1.3040 as targets.
Comment
As long as the resistance at 1.3010 is not surpassed, the risk of the break below 1.2970 remains high.
Gold spot
may fall to 1747.00 – 1757.00
Pivot
1793.00
Our preference
Short positions below 1793.00 with targets at 1757.00 & 1747.00 in extension.
Alternative scenario
Above 1793.00 look for further upside with 1805.00 & 1814.00 as targets.
Comment
The RSI is bearish and calls for further downside.
Brent (ICE)
may fall to 46.70 – 47.35
Pivot
48.45
Our preference
Short positions below 48.45 with targets at 47.35 & 46.70 in extension.
Alternative scenario
Above 48.45 look for further upside with 49.00 & 49.45 as targets.
Comment
The RSI shows downside momentum.
S&P 500 (CME)
may rise to 3655.00 – 3668.00
Pivot
3622.00
Our preference
Long positions above 3622.00 with targets at 3655.00 & 3668.00 in extension.
Alternative scenario
Below 3622.00 look for further downside with 3612.00 & 3593.00 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Dax (Eurex)
may rise to 13375.00 – 13410.00
Pivot
13270.00
Our preference
Long positions above 13270.00 with targets at 13375.00 & 13410.00 in extension.
Alternative scenario
Below 13270.00 look for further downside with 13225.00 & 13185.00 as targets.
Comment
The RSI is mixed to bullish.
SGX FTSE China A50
may rise to 17300.00 – 17420.00
Pivot
16855.00
Our preference
Long positions above 16855.00 with targets at 17300.00 & 17420.00 in extension.
Alternative scenario
Below 16855.00 look for further downside with 16750.00 & 16630.00 as targets.
Comment
The RSI is bullish and calls for further advance.
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.
