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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...

Oct 11, 2018

EUR/USD: the pair is growing 11 October 2018, 10:58


Scenario
Timeframe Intraday
Recommendation BUY STOP
Entry Point 1.1585
Take Profit 1.1657, 1.1700
Stop Loss 1.1540
Key Levels 1.1430, 1.1460, 1.1500, 1.1522, .1547, 1.1580, 1.1615, 1.1657, 1.1700, 1.1732
Alternative scenario
Recommendation SELL
Entry Point 1.1540
Take Profit 1.1500, 1.1475, 1.1460
Stop Loss 1.1580, 1.1590
Key Levels 1.1430, 1.1460, 1.1500, 1.1522, .1547, 1.1580, 1.1615, 1.1657, 1.1700, 1.1732
Current trend
Yesterday, the EUR/USD pair rose within the correction after the “bearish” start of the week, which led to a renewal of the lows since August 20. EUR was supported by USD correction due to a decline in the 10-year government bonds’ yield. Data on Industrial Production from France and Italy affected the instrument positively, too. Thus, August Industrial Production in France rose by 0.3% MoM, which is noticeably worse than the dynamics of last month (0.8% MoM), but still better than analysts' forecasts (+0.1% MoM). The corresponding index in Italy rose by 1.7% MoM against a decrease of 1.6% MoM last month. Experts expected the growth only by +0.8% MoM.
This morning, the pair continues to grow. Investors are waiting for new drivers: ECB meeting report and a block of US September macroeconomic statistics on consumer inflation.
Support and resistance
On the daily chart, Bollinger bands are actively falling. The price range narrows, reflecting a sharp change in the trade direction in the short term. MACD reversed upwards, forming a buy signal (the histogram is above the signal line). Stochastic is growing, rapidly approaching its highs, which reflects that EUR will become overbought soon.
It is better to keep current long positions until the situation is clear.
Resistance Levels: 1.1580, 1.1615, 1.1657, 1.1700, 1.1732.
Support levels: 1.1547, 1.1522, 1.1500, 1.1460, 1.1430.


Trading tips
Long positions can be opened after the breakout of the level of 1.1580 with the target at 1.1657 or 1.1700. Stop loss is 1.1540.
Short positions can be opened after the rebound from the level of 1.1580 and the breakdown of the level of 1.1547 with the targets at 1.1500 or 1.1475–1.1460. Stop loss 1.1580–1.1590.
Implementation period: 2–3 days.

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