Doo Prime Daily Featured Trading Strategies – November 17, 2020

2020-11-17

Doo Prime Daily Featured Trading Strategies – November 17, 2020 

  1. Daily technical analysis of selected currency pairs 

EUR/JPY Bullish

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

Target

Opportunity recognized 2020 Nov 17 for the period of up to 12 hours

+0.065 (65 pips) price change since the Technical Event at 123.920

Technical Analysis

We found a pattern called Inside Bar (Bullish) on 2020 Nov 17 at 00:45 GMT on a 15 minute chart suggesting the outlook is bullish for up to 12 hours.

The MACD generated a bullish signal on 2020 Nov 17 at 02:00 GMT.

USD/JPY Bullish

Image Features:   forms “Outside Bar (Bullish)” pattern

Target

Opportunity recognized 2020 Nov 17 for the period of up to 12 hours

+0.040 (4 pips) price change since the Technical Event at 104.486

Technical Analysis

We found a pattern called Outside Bar (Bullish) on 2020 Nov 17 at 01:00 GMT on a 15 minute chart suggesting the outlook is bullish for up to 12 hours.

The MACD generated a bullish signal on 2020 Nov 17 at 02:00 GMT.

  1. Daily analyst View

EUR/USD

may rise 17 – 37 pips

Pivot

1.1835

Our preference

Long positions above 1.1835 with targets at 1.1880 & 1.1900 in extension.

Alternative scenario

Below 1.1835 look for further downside with 1.1815 & 1.1795 as targets.

Comment

The RSI calls for a new upleg.

GBP/USD

may rise 18 – 43 pips

Pivot

1.3185

Our preference

Long positions above 1.3185 with targets at 1.3235 & 1.3260 in extension.

Alternative scenario

Below 1.3185 look for further downside with 1.3165 & 1.3150 as targets.

Comment

A support base at 1.3185 has formed and has allowed for a temporary stabilisation.

USD/CAD

may fall 15 – 40 pips

Pivot

1.3105

Our preference

Short positions below 1.3105 with targets at 1.3055 & 1.3030 in extension.

Alternative scenario

Above 1.3105 look for further upside with 1.3125 & 1.3150 as targets.

Comment

The RSI shows downside momentum.

 

Gold spot

may rise to 1899.00 – 1909.00

Pivot

1879.00

Our preference

Long positions above 1879.00 with targets at 1899.00 & 1909.00 in extension.

Alternative scenario

Below 1879.00 look for further downside with 1871.00 & 1864.00 as targets.

Comment

The RSI is mixed to bullish.

Brent (ICE)

may rise to 44.65 – 44.95

Pivot

43.60

Our preference

Long positions above 43.60 with targets at 44.65 & 44.95 in extension.

Alternative scenario

Below 43.60 look for further downside with 43.20 & 42.65 as targets.

Comment

The RSI has just landed on its neutrality area at 50% and is turning up.

S&P 500 (CME)

may rise to 3636.00 – 3668.00

Pivot

3596.00

Our preference

Long positions above 3596.00 with targets at 3636.00 & 3668.00 in extension.

Alternative scenario

Below 3596.00 look for further downside with 3576.00 & 3547.00 as targets.

Comment

The RSI is mixed with a bullish bias.

Dax (Eurex)

may rise to 13290.00 – 13370.00

Pivot

13060.00

Our preference

Long positions above 13060.00 with targets at 13290.00 & 13370.00 in extension.

Alternative scenario

Below 13060.00 look for further downside with 12865.00 & 12740.00 as targets.

Comment

A support base at 13060.00 has formed and has allowed for a temporary stabilisation.

FTSE China A50

may rise to 17022.00 – 17267.00

Pivot 

15786.00

Our preference

The upside prevails as long as 15786 is support.

Alternative scenario

The downside breakout of 15786 would call for 15382 and 15140.

Comment

The RSI is above 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 16096.87 and 15752.22).

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.

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