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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 ...

Dec 2, 2019

AUD/USD: Australian dollar is correcting 02 December 2019, 09:44


Scenario
Timeframe Intraday
Recommendation BUY STOP
Entry Point 0.6785
Take Profit 0.6821, 0.6833
Stop Loss 0.6753
Key Levels 0.6722, 0.6738, 0.6753, 0.6768, 0.6782, 0.6800, 0.6821, 0.6833
Alternative scenario
Recommendation SELL STOP
Entry Point 0.6750
Take Profit 0.6700
Stop Loss 0.6782
Key Levels 0.6722, 0.6738, 0.6753, 0.6768, 0.6782, 0.6800, 0.6821, 0.6833
Current trend
AUD is showing moderate growth against USD, gaining 0.2%. The growth of the instrument is facilitated by the publication of strong data from China, while Australian statistics are contradictory. Chinese Caixin Manufacturing PMI in November rose from 51.7 to 51.8 points against the forecast of a decrease to 51.4 points. Australian data, by contrast, indicated a decrease in Commonwealth Bank Manufacturing PMI from 50 to 49.9 points. AiG Manufacturing PMI in November fell sharply from 51.6 to 48.1 points. Building Approvals issued in October fell by 8.1% MoM after a 7.2% MoM growth in the previous month. Analysts had expected decline by 0.4% MoM. In annual terms, the indicator decreased from –17% YoY in September to –23.6% YoY in October.
Tomorrow, investors expect the publication of the RBA decision on the interest rate. It is predicted that the regulator will not change the parameters of monetary policy and will keep the rate at the same level of 0.75%.
Support and resistance
Bollinger Bands in D1 chart demonstrate a gradual decrease. The price range narrows from below, reflecting the appearance of corrective growth at the beginning of a new trading week. MACD is declining keeping a weak sell signal (located below the signal line). Stochastic is recovering from its lows, signaling about the oversold AUD in the ultra-short term.
The formation of a full-fledged uptrend is possible in the short and/or ultra-short term.
Resistance levels: 0.6782, 0.6800, 0.6821, 0.6833.
Support levels: 0.6768, 0.6753, 0.6738, 0.6722.


Trading tips
To open long positions, one can rely on the breakout of 0.6782. Take profit – 0.6821 or 0.6833. Stop loss – 0.6753.
The breakdown of 0.6753 may serve as a signal to new sales with the target at 0.6700. Stop loss – 0.6782.
Implementation time: 2-3 days.

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