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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...

Jun 13, 2018

USD/CAD: technical analysis 13 June 2018, 13:17


Scenario
Timeframe Intraday
Recommendation BUY STOP
Entry Point 1.3035
Take Profit 1.3061, 1.3122
Stop Loss 1.3010
Key Levels 1.2935, 1.2970, 1.3000, 1.3031, 1.3061, 1.3092, 1.3122
Alternative scenario
Recommendation SELL STOP
Entry Point 1.2995
Take Profit 1.2970, 1.2935
Stop Loss 1.3025
Key Levels 1.2935, 1.2970, 1.3000, 1.3031, 1.3061, 1.3092, 1.3122
Current trend
The USD/CAD pair is growing along the upper border of Bollinger bands and is testing the resistance level of 1.3031 (Murray [7/8]). If the current trend maintains, the next target of buyers will be the level of 1.3061 (Murray [8/8]). It is a strong resistance level, from which the reversal and the formation of a downward correction are possible. The breakout and consolidation above the level of 1.3061 will let the price grow to the area of ​​1.3092 (Murray [+1/8])–1.3122 (Murray [+2/8]). The restoration of the downward trend is possible after the price is set below the level of 1.3000 (Murray [6/8]). In this case, the next sellers’ targets will be the levels of 1.2970–1.2935.
Technical indicators reflect that the current upward movement maintains. Bollinger bands are directed upwards. MACD volumes are actively growing in the positive zone, forming a buy signal. Stochastic entered the overbought zone and is directed sideways.
Support and resistance
Resistance levels: 1.3061, 1.3092, 1.3122.
Support levels: 1.3031, 1.3000, 1.2970, 1.2935.

Trading tips
Long positions can be opened above level 1.3031 with the targets around ​​1.3061–1.3122 and stop loss 1.3010.
Short positions can be opened below the level of 1.3000 with the targets around ​​1.2970–1.2935 and stop loss 1.3025.

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