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eBay Inc. (EBAY/NASD): general analysis 19 October 2018, 12:01

eBay Inc. (EBAY/NASD): general analysis 19 October 2018, 12:01 Scenario Timeframe Intraday Recommendation BUY STOP Entr...

Jan 12, 2018

AUD/USD: waiting for the US inflation data 12 January 2018, 14:55


Scenario
Timeframe Intraday
Recommendation BUY STOP
Entry Point 0.7880
Take Profit 0.7900, 0.7935
Stop Loss 0.7860
Key Levels 0.7780, 0.7812, 0.7850, 0.7900, 0.7935, 0.7965
Alternative scenario
Recommendation SELL STOP
Entry Point 0.7855
Take Profit 0.7812
Stop Loss 0.7875
Key Levels 0.7780, 0.7812, 0.7850, 0.7900, 0.7935, 0.7965
Current trend
At the beginning of the week, the pair declined under the pressure of optimistic statements by FOMC members John Williams and Loretta Meister, who spoke in favor of three or four interest rate increases in the US this year.
However, on Wednesday the price reversed around the 0.7800 mark and began to rise under the influence of later reports that China plans to stop purchasing US Treasury bonds and strong data on retail sales in Australia. In November, the indicator showed significant growth, amounting to 1.2% instead of the expected 0.4%, which indicates active sales on "Black Friday". As a result, the price has risen to the level of 0.7900, has been corrected a little, and now is in the area of the level of 0.7870.
Today, the market is waiting for the publication of December data on the consumer price index, one of the defining indicators in the decision to change the US interest rate. Now, a number of Fed members, including Charles Evans, the president of the Federal Reserve Bank of Chicago, are concerned about the low level of inflation and are supporting the rate hike before mid-2018.
If realized, the forecasts (the reduction of the consumer price index from 2.2% to 2.1% and the preservation of the base level of consumer prices at around 1.7%) can strengthen the positions of the "pigeons" at the January meeting of the American regulator and exert significant pressure on the US currency.
Support and resistance
Technically, the price is at the lower border of the rising channel and in case of breakdown it may drop to the area of 0.7812 (Murrey [0/8]), otherwise, growth is likely to reach levels of 0.7900 (Murrey [6/8]) and 0.7935 (Murrey [8/8]). Technical indicators allow the possibility of decline, Stochastic is turned down, the MACD histogram is preparing to go into the negative zone and to form sale signal.
Support levels: 0.7850, 0.7812, 0.7780.
Resistance levels: 0.7900, 0.7935, 0.7965.

Trading tips
Short positions may be opened from the level of 0.7880 with targets at 0.7900, 0.7935 and stop-loss at 0.7860. Consolidation below the lower border of the channel near the 0.7855 mark will make short positions relevant, with the goal of 0.7812 and the stop-loss at the level of 0.7875.

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