Doo Prime Daily Featured Trading Strategies – November 26, 2020

2020-11-26

Doo Prime Daily Featured Trading Strategies – November 26, 2020 

  1. 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.

  1. 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.

 

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