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[Antony_NPBFX]

EUR/USD: euro remains under pressure 22.01.2019

Good afternoon, dear forum visitors!

NPBFX offers the latest release of analytics on EUR/USD for a better understanding of the current market situation and more efficient trading.

Current trend

Yesterday, EUR rose uncertainly against USD within the correction after last week’s fall. However, the pair failed to consolidate in the new positions and by the end of the session, lost its advantage.

EUR growth is constrained by negative PRC data. Chinese Q4 2018 GDP declined. The indicator fell from 1.6% QoQ to 1.5% QoQ and from 6.5% YoY to 6.4% YoY (the worst figure since 1990). Also, European investors are monitoring the situation around Brexit. Yesterday, Prime Minister Theresa May announced a backup plan for an agreement with the EU.

Today, January German and EU data on the index of business sentiment from ZEW will be published. According to the forecast, the number of pessimists in German business circles will increase: the figure will grow from –17.5 to –18.4. EU figure will decrease from –21.0 to –20.1 but pessimism will continue to prevail in European business circles, which may adversely affect EUR.

Support and resistance

On the daily chart, Bollinger bands move flat. The price range is virtually unchanged but remains wide enough for the current activity level. MACD falls, keeping a strong sell signal (the histogram is below the signal line). Stochastic reached its lows, reversed horizontally, indicating the growing risks of an upward correction in the super short term.

It is better to wait until the situation is clear.

Resistance levels: 1.1376, 1.1400, 1.1421, 1.1442.

Support Levels: 1.1351, 1.1333, 1.1300, 1.1268.

Trading tips

Long positions can be opened after a rebound from 1.1351 and a breakout of 1.1376 with the targets at 1.1421–1.1442. Stop loss is 1.1351. Implementation period: 2–3 days.

Short positions can be opened after the breakdown of 1.1351 with the target at 1.1300. Stop loss is 1.1376–1.1380. Implementation period: 1–2 days.

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Use the current recommendations of analysts on EUR/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

USD/CHF: wave analysis 23.01.2019

Good afternoon, dear forum visitors!

NPBFX offers the latest release of analytics on USD/CHF for a better understanding of the current market situation and more efficient trading.

The pair may grow.

On the 4-hour chart, a downward correction of the higher level developed as the wave (2), within which the wave C of (2) formed. Now the development of the third wave (3) has begun, within which the first wave of the lower level i of 1 of (3) is forming. If the assumption is correct, the pair will grow to the levels of 1.0126–1.0256. In this scenario, critical stop loss level is 0.9914.

Main scenario

Long positions will become relevant during the correction, above the level of 0.9914 with the targets at 1.0126–1.0256. Implementation period: 7 days and more.

Alternative scenario

The breakdown and the consolidation of the price below the level of 0.9914 will let the pair go down to the levels of 0.9801–0.9712.
Use more opportunities of the NPBFX analytical portal: analytics.

You can find more actual analytical reviews on other popular currency pairs, metals and CFDs on the NPBFX online portal. Daily analytics with charts, current market prognoses and trading scenarios in the Feed section are available. Get free and unlimited access to the online portal after registering on the official website of NPBFX Company.

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[Antony_NPBFX]

AUD/USD: Australian dollar is going down 25.01.2019

Good afternoon, dear forum visitors!

NPBFX offers the latest release of analytics on AUD/USD for a better understanding of the current market situation and more efficient trading.

Current trend

AUD showed a noticeable decline against USD on Thursday, having updated local lows of January 4. At the same time, in the morning the instrument was trading higher, which was due to the publication of a strong report on the Australian labor market for December.

The unemployment rate dropped to 5.0%, and the employment rate rose by 21.6K. However, general employment growth was achieved due to an increase in the number of part-time working citizens (24.6K). At the same time, the number of full-time workers fell for the second month in a row, this time by 3K. Thus, the state of the labor market in Australia can't be called stable.

Today, the instrument is trading with a raise. Due to the half-empty macroeconomic calendar, investors can concentrate on fixing short profits on AUD.

Support and resistance

Bollinger Bands in D1 chart demonstrate flat dynamics. The price range is expanding, but it still fails to catch the development of the current “bearish” trend, which indicates the risks of corrective growth. MACD is going down keeping a fairly stable sell signal (located below the signal line). Stochastic, having reached its lows, is trying to reverse upwards, indicating an oversold instrument in the ultra-short term.

It is necessary to wait until the upward correction signals are confirmed in the near future.

Resistance levels: 0.7115, 0.7145, 0.7165, 0.7200.

Support levels: 0.7075, 0.7053, 0.7027, 0.7000.

Trading tips

To open long positions, one can rely on the rebound from 0.7075 as from support with the subsequent breakout of 0.7115. Take profit — 0.7165 or 0.7200. Stop loss — 0.7080.

A breakdown of 0.7075 may be a signal to further sales with target at 0.7000 or 0.6973. Stop loss — 0.7100 or 0.7115.

Implementation period: 2-3 days.

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[Antony_NPBFX]

XAU/USD: gold prices are rising 30.01.2019

Good afternoon, dear forum visitors!

NPBFX offers the latest release of analytics on XAU/USD for a better understanding of the current market situation and more efficient trading.

Current trend

Gold prices continue to rise steadily, renewing highs since May 2018. The instrument is supported by weak USD and soft Fed’s position, which implies a pause in the monetary tightening.

Investors are focused on new the complication of US-China relations before the trade negotiations on January 30-31. On Monday, the US Department of Justice officially accused the Chinese company Huawei of two dozen crimes; including violating the sanctions regime against Iran and stealing technology from the American company T-Mobile. Acting US Attorney General Matthew Whitaker said that the US would seek extradition of Huawei Finance Director Meng Wanzhou from Canada. Investors fear that the situation could undermine the prospects for a trade deal. China is unlikely to forgive it and may respond by tightening negotiating positions or creating problems for American companies operating in the PRC, for example, Apple.

Support and resistance

On the daily chart, Bollinger bands grow moderately. The price range actively expands but not as fast as the "bullish" develops. MACD grows, keeping a strong buy signal (the histogram is above the signal line). Stochastic reached its highs and reversed horizontally, reflecting that the instrument is strongly overbought the super short term.

The current indicators’ readings do not contradict the further development of the “bullish” trend in the short term. Nevertheless, the correctional dynamics can develop at the end of the week.

Resistance levels: 1314.41, 1317.17, 1320.87.

Support levels: 1308.93, 1304.21, 1298.32, 1292.69.

Trading tips

Long positions can be opened after the breakout of 1314.41 or 1317.17 with the target at 1320.87 or 1324.00. Stop loss is 1310.00 or 1308.93.

Short positions can be opened after the rebound from 1314.41 and the breakdown of 1308.93 with the target at 1298.32. Stop loss is 1314.41.

Implementation period: 2–3 days.

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[Antony_NPBFX]

USD/CHF: instrument trades ambiguously 01.02.2019

Good afternoon, dear forum visitors!

NPBFX offers the latest release of analytics on USD/CHF for a better understanding of the current market situation and more efficient trading.

Current trend

Yesterday, USD was actively declining against CHF but almost completely recovered at the end of the daily session.

The market remains focused on the outcome of the Fed meeting. Investors were reassured by the intentions of the FOMC to keep patience before the next rate increase and carefully assess the situation. Jerome Powell noted that there were fewer arguments in favor of the rate hike, and the American economy suffered from the Shutdown, but suggested that all losses would be regained in Q2.

Also, investors follow the US-Chinese negotiations that opened yesterday and are awaiting the publication of the December data from the US labor market. The details of the negotiations were not disclosed, but it is known that President Donald Trump can join it.

On Friday, Nonfarm Payrolls will be published. The index may fall from 312K to 165K, but the data may be better than predicted, as evidenced by the positive ADP employment release published previously.

Support and resistance

On the daily chart, Bollinger bands are growing moderately. The price range narrows, reflecting the ambiguous trade nature in the short term. MACD fluctuates but still keeps a weak sell signal (the histogram is below the signal line). Stochastic is reversing into a horizontal plane after a short increase, indicating a decrease in upward corrective risks.

The current readings of technical indicators remain uninformative.

Resistance levels: 0.9962, 0.9980, 1.0000.

Support levels: 0.9933, 0.9904, 0.9871, 0.9847.

Trading tips

Long positions can be opened after the breakout of 0.9962 with the target at 1.0000. Stop loss is 0.9945–0.9940. Implementation period: 1–2 days.

Short positions can be opened after the breakdown of 0.9933–0.9915 with the targets at 0.9871–0.9847. Stop loss is 0.9950–0.9962. Implementation period: 2–3 days.

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If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist.

Use the current recommendations of analysts on USD/CHF and trade efficiently with NPBFX.

 

[Antony_NPBFX]

NZD/USD: the pair is showing ambiguous dynamics 04.02.2019

Good afternoon, dear forum visitors!

NPBFX offers the latest release of analytics on NZD/USD for a better understanding of the current market situation and more efficient trading.

Current trend

NZD showed a decline on Friday, departing from the updated local high of December 4. The reason for the emergence of "bearish" trend was the publication of positive macroeconomic statistics from the US.

The pressure on USD continues to be exerted by the tense situation around the relations between China and the US, although there are positive moments here. Last week, another round of US-China trade negotiations in Washington ended. Both sides rated them as successful and constructive. The Xinhua Agency mentions that China has agreed to increase imports of agricultural, energy and industrial products from the US, as well as cooperate in the field of intellectual property protection. On Thursday, President Donald Trump announced that Finance Secretary, Steven Mnuchin, and Trade Representative, Robert Lighthizer, would go to China for a new round of talks in mid-February, and Trump could meet with Xi Jinping at the end of February. The market assesses the chances of concluding a deal as good.

Support and resistance

Bollinger Bands in D1 chart show stable growth. The price range expands from above, freeing a path to new local highs for the "bulls". MACD is gradually reversing downwards keeping a previous buy signal (located above the signal line). Stochastic demonstrates similar dynamics, reversing downwards at its maximum levels.

It is worth looking into the possibility of corrective decline in the short and/or ultra-short term.

Resistance levels: 0.6923, 0.6940, 0.6968, 0.7000.

Trading tips

To open long positions, one can rely on the breakout of 0.6923 or 0.6940. Take profit — 0.7000. Stop loss — 0.6900 or 0.6890.

A breakdown of 0.6871 may be a signal to new sales with target at 0.6814 or 0.6789. Stop loss — 0.6900.

Implementation time: 2-3 days.

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Use the current recommendations of analysts on NZD/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

Brent Crude Oil: oil prices are consolidating 06.02.2019

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NPBFX offers the latest release of analytics on Brent Crude Oil for a better understanding of the current market situation and more efficient trading.

Current trend

Prices for Brent crude oil showed a decline on Tuesday, remaining close to the local highs of 2019, updated the day before. Poor data on Factory Orders published on Monday in the United States was the reason for the emergence of negative dynamics.

In turn, the instrument is supported by the tense situation around Venezuela, against which the US may impose sanctions. Additional support comes from OPEC, as the cartel intends to continue to cut oil production in order to stabilize supply and demand in the market.

The report of the American Petroleum Institute reflected a moderate increase in oil reserves, which did not contribute to the development of "bullish" trend of the instrument. Over the week up to February 1, US Crude Oil Stock grew by 2.514M barrels after an increase of 2.098M barrels in the previous period.

Support and resistance

Bollinger Bands in D1 chart show unsteady growth. The price range is almost unchanged, significantly limiting the prospects for further growth of the instrument. MACD reversed downwards having formed a weak sell signal (located below the signal line). Stochastic demonstrates a similar trend, reflecting the weakening risks of an overbought instrument in the ultra-short term.

The development of a full-fledged downtrend is possible in the short and/or ultra-short term.

Resistance levels: 62.30, 63.08, 63.69, 64.42.

Support levels: 61.50, 61.00, 60.50, 59.44.

Trading tips

To open long positions, one can rely on the rebound from the support level of 61.50 with the subsequent breakout of 62.30. Take profit — 63.69 or 64.42. Stop loss — 61.50.

A breakdown of 61.50 or 61.00 may be a signal to further sales with target at 59.44 or 58.75. Stop loss — 62.00 or 62.30.

Implementation time: 2-3 days.

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[Antony_NPBFX]

USD/CAD: dollar strengthened 08.02.2019

Good afternoon, dear forum visitors!

NPBFX offers the latest release of analytics on USD/CAD for a better understanding of the current market situation and more efficient trading.

Current trend

Yesterday, USD grew steadily against CAD, renewing its highs since January 25.

USD demand is high despite the poor macroeconomic data publication. In addition, traders actively discuss the possible postponing of the planned meeting between US President Donald Trump and Chinese Chairman Xi Jinping. Analysts say the meeting is unlikely before the March deadline, which was set by both countries to conclude a final trade transaction. In general, optimism around the possible completion of the US-Chinese trade conflict has been declining lately, and the White House economic adviser Larry Kudlow said that the countries are still far from the deal.

Today, investors wait for January labor market data in Canada. Analysts' forecasts are quite pessimistic. In particular, the January Unemployment Rate is expected to increase from 5.6% to 5.7%, and the Employment Number will increase by only 8K after rising by 9.3K in December.

Support and resistance

On the daily chart, Bollinger bands move flat. The price range is virtually unchanged but remains quite wide for the current activity level. MACD grows, keeping a strong buy signal (the histogram is above the signal line). Stochastic rises almost vertically but is in near the level of 100, which signals that USD can become overbought in the super-short and short term.

The current readings do not contradict the development of the “bullish” trend in the short term.

Resistance levels: 1.3327, 1.3374, 1.3443.

Support levels: 1.3284, 1.3247, 1.3200, 1.3164.

Trading tips

Long positions can be opened after the breakout of 1.3327 with the target at 1.3443. Stop loss is 1.3284.

Short positions can be opened after the rebound from 1.3327 and the breakdown of 1.3284 with the target at 1.3200 or 1.3164. Stop loss is 1.3327.

Implementation period: 2–3 days.

Use more opportunities of the NPBFX analytical portal:glossary.

Beginning traders certainly face a lot of specialized concepts and lexicon on FOREX, which are often not fully been understood. Swap, tick, hedge, margin calls are often unfamiliar to beginning traders. But the lack of knowledge of these fundamentals make a competent market vision impossible. So glossary on the NPBFX analytical portal could be an excellent helper in this case, which contains all the main definitions with explanations in a compact and accessible form. All concepts are arranged in alphabetical order, so that you can easily and quickly find and explore a new concept for yourself.

If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist.

Use the current recommendations of analysts on USD/CAD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

USD/JPY: the pair moves flat 11.02.2019

Good afternoon, dear forum visitors!

NPBFX offers the latest release of analytics on USD/JPY for a better understanding of the current market situation and more efficient trading.

Current trend

Today during the Asian session, USD is growing within the correction after the “bearish” end of the last week. The instrument is supported by positive news around the US-PRC trade conflict. As it became known, the final meeting of the heads of the countries will be held in Beijing on February 14–15.

Investors continue to respond to the negative macroeconomic statistics, published in Japan last Friday. In particular, in December the Household Spending indicator increased by only 0.1% YoY against the forecast of +0.8% YoY after falling by 0.6% YoY in November, while wages rose moderately from +1.7% YoY to +1.8% YoY, as experts expected. The January Economy Watchers Current Index was revised downwards from 46.8 to 45.6 points, despite the expected increase to 48.6 points.

Support and resistance

On the daily chart, Bollinger bands grow moderately. The price range is virtually unchanged but remains quite wide for the current level of the market activity. MACD rises, keeping a poor buy signal (the histogram is above the signal line), and is preparing to test the zero line for a breakout. However, Stochastic is directed downwards and is still not responding to the appearance of today's “bullish” dynamics.
It is better to wait until the trading signals are clear before opening new positions.

Resistance levels: 110.00, 110.45, 111.00.

Support levels: 109.54, 109.07, 108.48, 108.00.

Trading tips

Long positions can be opened after the breakout of 110.00–110.20 with the target at 111.00. Stop loss is 109.70–109.80.

Short positions can be opened after the rebound from 110.00 and the breakdown of 109.54 with the targets at 109.07 or 108.70–108.48.

Stop loss is 110.00.

Implementation period: 2–3 days.

Use more opportunities of the NPBFX analytical portal: economic calendar. Be ready for any market changes through global events using the economic calendar on the NPBFX portal. The calendar contains all the most important events of the world economy and prognoses for them. In order to get free and unlimited access to the economic calendar and other useful instruments on the portal, you need to pass a one-time registration on the NPBFX website.

If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist.

Use the current recommendations of analysts on USD/JPY and trade efficiently with NPBFX.

 

[Antony_NPBFX]

AUD/USD: wave analysis 13.02.2019

Good afternoon, dear forum visitors!

NPBFX offers the latest release of analytics on AUD/USD for a better understanding of the current market situation and more efficient trading.

The pair may grow.

On the 4-hour chart, an upward correction of the higher level develops as the wave 2 of (5). Now the wave b of 2 has formed, and the development of the wave c of 2 is beginning. If the assumption is correct, the pair will grow to the levels of 0.7348–0.7534. In this scenario, critical stop loss level is 0.7050.

Main scenario

Long positions will become relevant above the level of 0.7050 with the targets at 0.7348–0.7534. Implementation period: 7 days and more.

Alternative scenario

The breakdown and the consolidation of the price below the level of 0.7050 will let the pair go down to the levels of 0.6961–0.6880.

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Use the current recommendations of analysts on AUD/USD and trade efficiently with NPBFX.