Source: PaxForex Premium Analytics Portal, Technical Insight

The Data Protection Supervision Agency of Ireland, DPC, has sent Facebook a preliminary order to suspend data transfer from the EU to the U.S., reports the Wall Street Journal. The decision came after a decision of the Supreme Court of Europe this summer, which at the same time canceled the EU-U.S. data transfer agreement and questioned the legitimacy of an alternative transfer mechanism - of course, in cases where the data comes to a non-EU organization covered by the U.S. tracking law.

Facebook, H4

Pivot: 274.23

Analysis:

Provided that the asset is traded above 268.00, follow the recommendations below:

• Time frame: H4
• Recommendation: long position
• Entry point: 274.23
• Take Profit 1:  283.20
• Take Profit 2: 287.60

Alternative scenario:

 In case of breakdown of the level 268.00, follow the recommendations below:

• Time frame: H4
• Recommendation: short position
• Entry point: 268.00
• Take Profit 1: 260.60
• Take Profit 2: 256.40

Comment:

RSI below 50. MACD is above the signal line and negative. The configuration is mixed. Facebook is traded on a moving average of 20 and 50 (274.55 and 279.41 respectively).

Key levels:

Facebook, D1

Pivot: 287.67

Analysis:

While the asset is traded above 266.90, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 287.67
• Take Profit 1: 324.10
• Take Profit 2: 337.20

Alternative scenario:

If level 266.90 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 266.90
• Take Profit 1: 245.90
• Take Profit 2: 233.10

Comment:

RSI above 50. MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is traded above 20 and 50-day moving average (275.7 and 253.84 respectively).

Key levels

We also advise you to pay attention to Tesla shares for intraday trading:

Pivot: 330.21

Analysis:

While the asset is traded below 420.00 follow the recommendations below:

• Time frame: H4
• Recommendation: short position
• Entry point: 330.21
• Take Profit 1: 261.00
• Take Profit 2: 226.00

Alternative scenario:

If the level 420.00 is broken-out, follow the recommendations below.

• Time frame: H4
• Recommendation: long position
• Entry point: 420.00
• Take Profit 1: 485.00
• Take Profit 2: 524.00