Doo Prime Daily Featured Trading Strategies – November 13, 2020

2020-11-13

Doo Prime Daily Featured Trading Strategies – November 13, 2020 

  1. Daily technical analysis of selected currency pairs

EUR/AUD Bearish

Image Features: forms “Engulfing Line (Bearish)” pattern

Target

Opportunity recognized 2020 Nov 13 for the period of up to 12 hours

+0.00307 (307 pips) price change since the Technical Event at 1.63010

Technical Analysis

We found a pattern called Engulfing Line (Bearish) on 2020 Nov 13 at 00:00 GMT on a 1 hour chart suggesting the outlook is bearish for up to 12 hours.

The RSI fallen below 70 on 2020 Nov 13 at 03:00 GMT, telling us the price is starting to pull back from being overbought.

EUR/GBP Bearish

Image Features:  forms “Inside Bar (Bearish)” pattern

Target

Opportunity recognized 2020 Nov 13 for the period of up to 12 hours

+0.00042 (42 pips) price change since the Technical Event at 0.89952

Technical Analysis

We found a pattern called Inside Bar (Bearish) on 2020 Nov 13 at 00:00 GMT on a 1 hour chart suggesting the outlook is bearish for up to 12 hours.

The MACD generated a bearish signal on 2020 Nov 13 at 03:00 GMT.

  1. Daily analyst View

EUR/USD

may rise 26 – 51 pips

Pivot

1.1780

Our preference

Long positions above 1.1780 with targets at 1.1835 & 1.1860 in extension.

Alternative scenario

Below 1.1780 look for further downside with 1.1760 & 1.1745 as targets.

Comment

The RSI is mixed with a bullish bias.

GBP/USD

may fall 33 – 73 pips

Pivot

1.3170

Our preference

Short positions below 1.3170 with targets at 1.3090 & 1.3050 in extension.

Alternative scenario

Above 1.3170 look for further upside with 1.3200 & 1.3230 as targets.

Comment

The RSI is mixed with a bearish bias.

USD/CAD

may rise 27 – 52 pips

Pivot

1.3110

Our preference

Long positions above 1.3110 with targets at 1.3175 & 1.3200 in extension.

Alternative scenario

Below 1.3110 look for further downside with 1.3090 & 1.3075 as targets.

Comment

The RSI is bullish and calls for further upside.

Gold spot

may rise to 1890.00 – 1900.00

Pivot

1862.00

Our preference

Long positions above 1862.00 with targets at 1890.00 & 1900.00 in extension.

Alternative scenario

Below 1862.00 look for further downside with 1850.00 & 1839.00 as targets.

Comment

The RSI is mixed to bullish.

Brent (ICE)

may fall to 42.10 – 42.60

Pivot

44.05

Our preference

Short positions below 44.05 with targets at 42.60 & 42.10 in extension.

Alternative scenario

Above 44.05 look for further upside with 44.50 & 45.30 as targets.

Comment

The RSI advocates for further downside.

S&P 500 (CME)

may fall to 3476.00 – 3506.00

Pivot

3576.00

Our preference

Short positions below 3576.00 with targets at 3506.00 & 3476.00 in extension.

Alternative scenario

Above 3576.00 look for further upside with 3598.00 & 3622.00 as targets.

Comment

The RSI is mixed to bearish.

 

Dax (Eurex)

may fall to 12675.00 – 12820.00

Pivot

13160.00

Our preference

Short positions below 13160.00 with targets at 12820.00 & 12675.00 in extension.

Alternative scenario

Above 13160.00 look for further upside with 13290.00 & 13460.00 as targets.

Comment

The RSI is bearish and calls for further decline.

FTSE China A50

may rise to 17233.00 – 17476.00

Pivot

16021.00

Our preference

The upside prevails as long as 16021 is support.

Alternative scenario

The downside breakout of 16021 would call for 15616 and 15376.

Comment

The RSI is above its neutrality area at 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 16071.29 and 15729.35).

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.

Service UpdatesIconBrandElement

article-thumbnail

2025-02-13 | Trading Hours

Adjusted Trading Hours for Presidents’ Day 

We wish to inform you of adjusted trading hours due to the upcoming Presidents’ Day in the US on February 17,2025.

article-thumbnail

2025-02-13 | Product Updates

Upcoming Margin Adjustments for US Stock CFDs 

We would like to inform you of an upcoming adjustment to the margin requirements for several US stock CFDs.  

article-thumbnail

2025-02-12 | System Maintenance

MT4 Live 3 Update: Order Compression 

As part of our ongoing efforts to enhance your trading experience, we will be performing scheduled maintenance on the MT4 Live 3 server on 15.02.2025

Service UpdatesIconBrandElement

MT4 Live 3 Update: Order Compression 

2025-02-12 | System Maintenance