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Facebook Inc. (FB/NASD): general analysis 06 December 2019, 11:19

Facebook Inc. (FB/NASD): general analysis 06 December 2019, 11:19 Scenario Timeframe Intraday Recommendation SELL STOP ...

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Dec 6, 2019

Facebook Inc. (FB/NASD): general analysis 06 December 2019, 11:19

 

Scenario
Timeframe Intraday
Recommendation SELL STOP
Entry Point 197.00
Take Profit 192.00, 187.00, 183.00
Stop Loss 202.00
Key Levels 182.00, 189.00, 197.00, 203.50, 208.50
Alternative scenario
Recommendation BUY STOP
Entry Point 203.50
Take Profit 214.00, 218.00
Stop Loss 198.00
Key Levels 182.00, 189.00, 197.00, 203.50, 208.50
Current trend
Facebook shares have added 3.2% since mid-November and are currently trading near a 4-month high with a 3.6% discount to a 52-week high of July 25. This week, analysts at Stifel investment company raised their recommendation on Facebook shares, expecting stabilization of revenue growth in 2020 against the backdrop of the company's successful investment in advertising initiatives.
Facebook stocks fell by 1.31% over the past week. The S&P 500 index fell by 1.15% over the same period.
Support and resistance
The company's shares stabilized after a protracted growth. #FB quotes are currently consolidating. There is no unidirectional trend observed. The key range is 197.00–203.50. In the near future, technical correction of the trading instrument is not ruled out. The signals of the indicators differ: the price fixed above MA (50) and MA (200); MACD began to decline. It is better to open the positions from the key levels.
A comparative analysis of the multiples of the company and competing companies indicates the neutrality of #FB.
Resistance levels: 203.50, 208.50.
Support levels: 197.00, 189.00, 182.00.

Trading tips
Short positions may be opened after the price consolidates below the level of 197.00. The closing of the profitable positions is possible at the levels of 192.00, 187.00 and 183.00. Stop loss – 202.00.
Long positions may be opened after the price consolidates above the level of 203.50 with the targets at 214.00–218.00. Stop loss – 198.00.
Implementation period: 3 days.

EUR/USD: general analysis 06 December 2019, 11:16

 

Scenario
Timeframe Weekly
Recommendation BUY STOP
Entry Point 1.1110
Take Profit 1.1170
Stop Loss 1.1080
Key Levels 1.0990, 1.1070, 1.1110, 1.1170
Alternative scenario
Recommendation SELL STOP
Entry Point 1.1070
Take Profit 1.0990
Stop Loss 1.1100
Key Levels 1.0990, 1.1070, 1.1110, 1.1170
Current trend
During her speech earlier this week, ECB chairman Christine Lagarde said the EU economic growth remains very poor due to global factors that impede investor confidence. The forecast for the future was restrained, which cast doubt on possible future economic growth. After such statements on Thursday at a meeting of EU finance ministers, the former President of European Commission Jean Claude Juncker hastened to reassure investors and said that he believed in the reliability of the euro, and the regulator, in turn, would take all measures to maintain price stability in the future. The single European currency strengthened against the US dollar by more than 1%.
Meanwhile, the USD Index continues to renew anti-records, reaching a minimum at 97.54 points on Thursday.
The weakening US dollar and the generally positive fundamental background after the meeting in the EU inspire confidence that the currency pair will continue to grow.
Support and resistance
It seems that the upward trend in the pair intends to break the resistance level of the sideways channel and consolidate above 1.1100. The Alligator indicator keeps a stable buy signal, and the AO oscillator is still in convergence, which increases the likelihood of growth.
Resistance levels: 1.1110, 1.1170.
Support levels: 1.1070, 1.0990.

Trading tips
If the asset continues to grow and the price consolidates above 1.1110, buy positions with the target at 1.1170 will be relevant. Stop loss is advisable to set below the local minimum, around 1.1080.
In the case of a reversal and decrease, as well as fixing the price below the local minimum around 1.1070, it is better to open sell positions with a possible target of 1.0990. In this case, stop loss should be set behind the previous maximum, around 1.1100.
Implementation period: 7 days or more.

USD/CHF: USD remains under pressure 06 December 2019, 11:15

 

Scenario
Timeframe Intraday
Recommendation BUY STOP
Entry Point 0.9895
Take Profit 0.9950, 0.9964
Stop Loss 0.9850
Key Levels 0.9800, 0.9838, 0.9848, 0.9867,0.9889, 0.9909, 0.9926, 0.9950
Alternative scenario
Recommendation SELL STOP
Entry Point 0.9860
Take Profit 0.9800
Stop Loss 0.9889, 0.9895
Key Levels 0.9800, 0.9838, 0.9848, 0.9867,0.9889, 0.9909, 0.9926, 0.9950
Current trend
USD is stable against CHF during today’s Asian session trading near local lows updated on Wednesday (0.9854). The pressure on USD is exerted by the growth of uncertainty around the US-Chinese trade negotiations after the publication of conflicting data.
Today, investors expect the publication of the November report on the US labor market, which could trigger the appearance of correctional dynamics in favor of USD. The previously published ADP employment report turned out to be worse than its forecasts, so it is possible that the official report will be weaker than expected. One way or another, at the moment investors expect Nonfarm Payrolls to grow by 186K in November after rising by 128K in October. Average Hourly Earnings in November may grow by 0.3% MoM, accelerating from the previous values of 0.2% MoM. The Unemployment Rate is expected to remain at the previous level of 3.6%.
Support and resistance
Bollinger Bands in D1 chart demonstrate a gradual decrease. The price range is actively expanding, making way for new local lows for the "bears". MACD is going down preserving a stable sell signal (located below the signal line). Stochastic, having approached its lows, reversed into a horizontal plane, indicating risks of strongly oversold USD in the ultra-short term.
Existing short positions should be kept in the short term until the situation clears up.
Resistance levels: 0.9889, 0.9909, 0.9926, 0.9950.
Support levels: 0.9867, 0.9848, 0.9838, 0.9800.


Trading tips
To open long positions, one can rely on the rebound from the support level of 0.9867, with the subsequent breakout of 0.9889. Take profit – 0.9950 or 0.9964. Stop loss – 0.9850.
The breakdown of 0.9867 may serve as a signal to new sales with the target at 0.9800. Stop loss – 0.9889 or 0.9895.
Implementation time: 2-3 days.

AUD/USD: general review 06 December 2019, 11:13

 

Scenario
Timeframe Weekly
Recommendation BUY STOP
Entry Point 0.6855
Take Profit 0.6900
Stop Loss 0.6830
Key Levels 0.6780, 0.6820, 0.6855, 0.6900
Alternative scenario
Recommendation SELL STOP
Entry Point 0.6820
Take Profit 0.6780
Stop Loss -0.6840
Key Levels 0.6780, 0.6820, 0.6855, 0.6900
Current trend
This week has been filled with a variety of macroeconomic data from the Australian National Bureau of Statistics. On Tuesday, the Reserve Bank left the interest rate at the same level of 0.75% for the third time in a row after a September decrease of 0.25%, which inspired positive investors. However, negative releases came out on Wednesday: GDP showed a slowdown from 0.5% last month to 0.4% this month, while retail sales remained at 0% against the expected value of 0.3%. Today, the US dollar may be affected by the publication of the unemployment rate. Although analysts expect the index to remain unchanged, there are concerns that it will increase based on poor data on Nonfarm Payrolls published on Tuesday.
Despite the poor positions of the American currency, the Australian dollar is also not a strong asset, which forces the currency pair to consolidate within a narrow range.
Support and resistance
The classic “triangle” pattern is formed on the chart, which is quite expected in the current situation of uncertainty in the macroeconomics. According to statistics, the patter may end with growth but pending sell orders should also not be excluded.
Support levels: 0.6820, 0.6780.
Resistance levels: 0.6855, 0.6900.

Trading tips
In case of growth and consolidation above the level of 0.6855, both previously opened and new buy positions with the target at 0.6900 will be relevant. Stop loss needs to be moved beyond the line of resistance of the pattern, around 0.6830.
If the asset decreases and the price fixes below the local minimum and the support line at 0.6820, it is better to open sell positions with the target at 0.6780 and stop loss 0.6840 located inside the pattern.
Implementation period: 7 days or more.

Brent Crude Oil: oil prices consolidate 06 December 2019, 11:10

 

Scenario
Timeframe Intraday
Recommendation BUY
Entry Point 64.06
Take Profit 65.00, 65.30
Stop Loss 63.30
Key Levels 62.00, 62.33, 62.95, 63.50, 64.00, 64.62, 65.00
Alternative scenario
Recommendation SELL STOP
Entry Point 63.45
Take Profit 62.33, 62.00
Stop Loss 64.30
Key Levels 62.00, 62.33, 62.95, 63.50, 64.00, 64.62, 65.00
Current trend
Today, during the Asian session, oil prices moderately fall, retreating from yesterday's local highs at 64.62. The price is supported moderately by expectations of positive changes after a two-day OPEC meeting, which will end on December 6. The cartel suggests recommending reduce in oil production by an additional 500K barrels per day in 2020 Q1. An additional “bullish” impulse comes from the previously published report on oil reserves from the US Department of Energy. For the week of November 29, oil reserves in the US stocks fell by 4.856 million barrels after an increase of 1.572 million barrels over the past period. Analysts had expected the appearance of negative dynamics but expected only –1.734 million barrels.
On Friday, investors were focused on the publication of the November report on the US labor market and US Baker Hughes Oil Rig Count.
Support and resistance
On the daily chart, Bollinger bands grow moderately. The price range sharply narrows from below, reflecting the ambiguous nature of trades in the ultra-short term. MACD grows, maintaining a poor buy signal (the histogram is above the signal line). Stochastic grows but quickly approaches its highs, which indicates the risks of a corrective decline in the ultra-short term.
Current readings of technical indicators do not contradict the further development of an uptrend in the short and/or ultra-short term.
Resistance levels: 64.00, 64.62, 65.00.
Support levels: 63.50, 62.95, 62.33, 62.00.


Trading tips
Long positions may be opened after a rebound from 63.50 and a breakout of 64.00 with the target at 65.00 or 65.30. Stop loss – 63.30. Implementation period: 1–2 days.
Short positions may be opened after the breakdown of 63.50 with the target at 62.33 or 62.00. Stop loss – 64.30. Implementation period: 2–3 days.

XAU/USD: gold prices have stabilized 06 December 2019, 11:09

 

Scenario
Timeframe Intraday
Recommendation BUY STOP
Entry Point 1481.50
Take Profit 1500.00
Stop Loss 1471.15
Key Levels 1449.81, 1455.93, 1464.48, 1471.15, 1481.44, 1486.81, 1493.88, 1500.00
Alternative scenario
Recommendation SELL STOP
Entry Point 1471.10
Take Profit 1455.93, 1449.81
Stop Loss 1481.44
Key Levels 1449.81, 1455.93, 1464.48, 1471.15, 1481.44, 1486.81, 1493.88, 1500.00
Current trend
Gold prices are stable during today’s Asian session, trading near 1475.00. Gold quotes have changed little recently since investors expect the situation to develop in a trade conflict between the United States and China. Earlier this week, information appeared that the conclusion of the agreement may have to be postponed to November 2020, when the next presidential election will be held in the United States. Donald Trump later reiterated that “negotiations are going well,” and moderate optimism gradually began to return to the markets. However, there is little time left until December 15, and new import duties, if they are introduced by the USA, will almost certainly put an end to the current progress in the negotiations and everything will have to be started from scratch.
Support and resistance
In the D1 chart, Bollinger Bands are reversing horizontally. The price range remains virtually unchanged, limiting the development of the “bullish” sentiment in the ultra-short term. MACD indicator is growing preserving a weak buy signal (located above the signal line). Stochastic, having reached the level of “80”, demonstrates weak correctional dynamics, indicating the possibility of developing a full-fledged downtrend in the nearest time intervals.
It is necessary to wait for the additional signals from technical indicators to open short positions.
Resistance levels: 1481.44, 1486.81, 1493.88, 1500.00.
Support levels: 1471.15, 1464.48, 1455.93, 1449.81.


Trading tips
To open long positions, one can rely on the breakout of 1481.44. Take profit – 1500.00. Stop loss – 1471.15.
A breakdown of 1471.15 may be a signal for new sales with target at 1455.93 or 1449.81. Stop loss – 1481.44.
Implementation time: 2-3 days.

USD/CAD: wave analysis 06 December 2019, 11:06

 

Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 1.3184
Take Profit 1.3498, 1.3560
Stop Loss 1.3042
Key Levels 1.2654, 1.2849, 1.3042, 1.3498, 1.3560
Alternative scenario
Recommendation SELL STOP
Entry Point 1.3035
Take Profit 1.2849, 1.2654
Stop Loss 1.3100
Key Levels 1.2654, 1.2849, 1.3042, 1.3498, 1.3560
The pair may grow.
On the daily chart, the third wave of the higher level (3) forms, within which the wave 1 of (3) develops. Now, the third wave of the lower level iii of 1 is forming, within which the development of the local correction (ii) of iii is ending. If the assumption is correct, the pair will grow to the levels of 1.3498–1.3560. In this scenario, critical stop loss level is 1.3042.


Main scenario
Long positions will become relevant during the correction, above the level of 1.3042 with the targets at 1.3498–1.3560. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 1.3042 will let the pair go down to the levels of 1.2849–1.2654.

USD/JPY: wave analysis 06 December 2019, 11:04

 

Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 108.68
Take Profit 109.76, 110.50
Stop Loss 108.26
Key Levels 106.95, 107.55, 108.26, 109.76, 110.50
Alternative scenario
Recommendation SELL STOP
Entry Point 108.20
Take Profit 107.55, 106.95
Stop Loss 108.50
Key Levels 106.95, 107.55, 108.26, 109.76, 110.50
The pair may grow.
On the 4-hour chart, the wave (C) of the higher level forms, within which the first wave 1 of (C) develops. Now, the development of the third wave of the lower level iii of 1 has started, within which the local correction (ii) of iii has formed. If the assumption is correct, the pair will grow to the levels of 109.76–110.50. In this scenario, critical stop loss level is 108.26.


Main scenario
Long positions will become relevant during the correction, above the level of 108.26 with the targets at 109.76–110.50. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 108.26 will let the pair go down to the levels of 107.55–106.95.

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