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[Antony_NPBFX]

EUR/USD: the euro is strengthening 04.11.2019

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

EUR rose against USD on Friday, reacting to the publication of contradictory macroeconomic statistics from the US. Nonfarm Payrolls in October rose by 128K after an increase by 180K in the previous month. Experts expected the growth by 89K only. Average Hourly Earnings in October maintained its previous growth rate of 3% YoY, as experts had predicted. In monthly terms, the indicator increased by 0.2% MoM after zero dynamics in September. Market forecasts suggested growth of 0.3% MoM. The Unemployment Rate in October expectedly increased from 3.5% to 3.6%. Markit Manufacturing PMI fell from 51.5 to 51.3 points in October. ISM Manufacturing PMI grew from 47.8 to 48.3 points, which nevertheless turned out to be worse than the forecast of 48.9 points.

Today, the pair maintains an uptrend. On Monday, investors are focused on European statistics on Markit Manufacturing PMI.

Support and resistance

Bollinger Bands in D1 chart show active growth. The price range expands actively, freeing a path to new local highs for the “bulls”. MACD indicator is growing, keeping a stable buy signal (located above the signal line). Stochastic, having approached its highs, reversed into a horizontal plane, indicating the overbought euro in the ultra-short term.

Existing long positions should be kept until the situation clears up.

Resistance levels: 1.1178, 1.1200, 1.1229, 1.1248.

Support levels: 1.1138, 1.1117, 1.1071, 1.1050.

Trading tips

To open long positions, one can rely on the breakout of 1.1178. Take profit – 1.1248. Stop loss – 1.1138.

The rebound from 1.1178 as from resistance with the subsequent breakdown of 1.1138 can become a signal to new sales with target at 1.1071 or 1.1050. Stop loss – 1.1178.

Implementation time: 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 EUR/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

AUD/USD: the pair is trading in both directions 06.11.2019

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 strong growth on Tuesday, updating local highs of October 31. However, the instrument failed to consolidate at new highs, and by the time the US trading session opened, it had lost most of its gains. AUD was supported by the results of the RBA meeting and the comments of the head of the regulator. As expected, the RBA kept its key interest rate at 0.75%. At the same time, investors hope that in the near future the regulator will not change the parameters of monetary policy significantly. RBA head Philip Lowe supported such sentiments, noting that the period of low interest rates will be quite long.

Correction of the instrument was facilitated by the publication of ISM Services PMI with the opening of the American trading session. In October, the index showed growth from 52.6 to 54.7 points, which turned out to be better than market expectations of 53.5 points.

Support and resistance

In the D1 chart, Bollinger Bands are reversing horizontally. The price range is trying to consolidate, reflecting the ambiguous nature of trading in the short/ultra-short term. MACD is declining keeping a weak sell signal (located below the signal line). Stochastic is showing slightly more stable decline and is located in the middle of its area.

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

Resistance levels: 0.6900, 0.6928, 0.6955.

Support levels: 0.6881, 0.6864, 0.6829, 0.6808.

Trading tips

To open long positions, one can rely on the breakout of 0.6928. Take profit – 0.7000. Stop loss should be placed no further than 0.6900.

A breakdown of 0.6881 or 0.6864 may be a signal for new sales with target at 0.6808 or 0.6779. Stop loss – 0.6900 or 0.6915.

Implementation time: 2-3 days.

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.

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 AUD/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

USD/JPY: USD is strengthening 08.11.2019

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

USD rose against JPY on Thursday, updating local highs of May 31. The development of the “bullish” dynamics of the instrument was facilitated by the depreciation of JPY against the background of an upbeat sentiment regarding the conclusion of a trade agreement between the US and China. Despite the fact that currently the new terms for signing the preliminary agreement have not been agreed upon, the comments of the officials show real progress in the ongoing negotiations.

Today, the pair is trading in both directions. JPY is moderately supported by the Japanese macroeconomic data. Household Spending in September grew by 9.5% YoY after growth by 1.0% YoY a month earlier. Analysts had expected growth by 7.8% YoY. Overall wage income of employees in September rose by 0.8% YoY after a decrease of 0.1% YoY in the previous month, with a forecast of +0.4% YoY.

Support and resistance

Bollinger Bands in D1 chart grow moderately. The price range is expanding, but it fails to catch the development of “bullish” trend at the moment. MACD indicator is growing preserving a buy signal (located above the signal line). Stochastic, having approached its highs tends to reverse into a horizontal plane, indicating the risks of overbought dollar in the ultra-short term.

Existing long positions should be kept in the short and/or ultra-short term until the situation is clear.

Resistance levels: 109.47, 109.73, 110.00.

Support levels: 109.05, 108.71, 108.46, 108.24.

Trading tips

To open long positions, one can rely on the breakout of 109.47. Take profit – 110.00. Stop loss – 109.15. Implementation time: 1-2 days.

A more likely scenario at the moment is a breakdown of 109.05, which can be a signal for new sales with target at 108.24 or 108.02. Stop loss – 109.47 or 109.60. Implementation time: 2-3 days.

Use more opportunities of the NPBFX analytical portal: glossary

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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/JPY and trade efficiently with NPBFX.

 

[Antony_NPBFX]

WTI Crude Oil: general review 11.09.2019

Good afternoon, dear forum visitors!

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

Current trend

Oil prices showed ambiguous dynamics on Friday, reacting to the publication of conflicting information on the process of trade negotiations between the US and China. The quotes were pressured by the comments of Donald Trump, who stated that he had not agreed to abolish previously imposed import duties on Chinese goods just yet. Last week the media reported that the US and China are preparing for the mutual abolition of increased import tariffs as part of the signing of the first phase of the trade agreement.

Moderate support for the instrument on Friday was provided by Baker Hughes US Oil Rig Count report. For the reporting week, the number of oil rigs decreased from 691 to 684 units.

Support and resistance

In the D1 chart Bollinger Bands keep weak uptrend but demonstrate a tendency to reverse into a horizontal plane. The price range is slightly narrowing, being spacious enough for the current activity level in the market. MACD is gradually reversing downwards keeping a previous buy signal (located above the signal line). Stochastic reversed downwards, approaching the level of 80, indicating the risks of a corrective decline in the short and/or ultra-short term.

To open new trading positions on the market, it is necessary to wait for the signals from technical indicators to be clarified.

Resistance levels: 57.79, 58.42, 59.00.

Support levels: 56.82, 55.70, 54.93, 54.00.

Trading tips

To open long positions, one can rely on the breakout of 57.79. Take profit – 59.00 or 59.50. Stop loss – 57.00.

A breakdown of 55.70 may be a signal for new sales with target at 54.00 or 53.62. Stop loss – 56.82.

Implementation time: 2-3 days.

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[Antony_NPBFX]

USD/CAD: the pair is strengthening 13.09.2019

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, the USD/CAD pair rose moderately, renewing local highs since October 11th. However, the instrument failed to consolidate at the new levels, and by the end of the daily session, it lost all his advantage by reacting to the neutral speech of US President Donald Trump at the Economic Club in New York. Investors expected further development of trade relations between the United States and China, which hovered before signing the preliminary agreement but Trump said nothing new. The President noted that China was still striving to conclude a trade agreement, however, the deal would be signed only on those conditions that will provide profit to the US economy otherwise Washington was ready to introduce new import duties.

Support and resistance

On the daily chart, Bollinger bands are growing steadily. The price range is narrowing slightly, reflecting the ambiguous nature of trading in the last few days. Nevertheless, the current indicators’ readings reflect the continuing “bullish” potential of the US dollar. The MACD indicator is growing, maintaining a strong buy signal (the histogram is above the signal line). Stochastic, approaching its highs, reversed into a horizontal plane, signaling the risks of corrective dynamics in the ultra-short term.

It is better to keep the current long positions until the market situation is clarified.

Resistance levels: 1.3256, 1.3289, 1.3309, 1.3347.

Support levels: 1.3224, 1.3196, 1.3159, 1.3132.

Trading tips

Long positions may be opened after the breakout of the level of 1.3256 with the target at 1.3309 or 1.3347. Stop loss – 1.3210–1.3200.

Short positions may be opened after a rebound from the level of 1.3256 and a breakdown of the levels of 1.3224–1.3210 with the target at 1.3159 or 1.3132. Stop loss – 1.3256.

Implementation period: 2–3 days.

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[Antony_NPBFX]

GBP/USD: general review 15.09.2019

Good afternoon, dear forum visitors!

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

Current trend

GBP rose against USD on Thursday, rising to local highs, updated earlier this week. The growth of the instrument was largely determined by technical factors, while the macroeconomic background from the UK remained negative. UK Retail Sales in October showed a decrease of 0.1% MoM, despite an expected increase of 0.2% MoM. In annual terms, the indicator strengthened by 3.1% YoY, which coincided with the data for the previous month. Analysts expected an increase of 3.7% YoY. Core Retail Sales for the same period decreased by 0.3% MoM after rising 0.2% MoM in September. In annual terms, the index slowed down from 2.9% YoY to 2.7% YoY against a forecast of 3.4% YoY.

Support and resistance

Bollinger Bands in the D1 chart demonstrate flat dynamics. The price range remains consolidated, but fully corresponds to the real dynamics observed in the market. MACD indicator tries to reverse to growth and to form a new buy signal (the histogram should consolidate above the signal line). Stochastic keeps its upward direction but is approaching its highs, which reflects risks of the overbought pound in the ultra-short term.

Current readings of technical indicators do not contradict the further growth of the instrument in the ultra-short and/or short term; however, to open new long positions, it is necessary to wait for the trading signals from the indicators to be clarified.

Resistance levels: 1.2896, 1.2950, 1.3011, 1.3060.

Support levels: 1.2762, 1.2705, 1.2659, 1.2600.

Trading tips

To open long positions, one can rely on the breakout of 1.2896. Take profit – 1.3011 or 1.3060. Stop loss – 1.2830.

The rebound from 1.2896 as from resistance with the subsequent breakdown of 1.2830 can become a signal to new sales with target at 1.2705 or 1.2659. Stop loss – 1.2896.

Implementation time: 2-3 days.

Use more opportunities of the NPBFX analytical portal: weekly FOREX forecast

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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.

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[Antony_NPBFX]

USD/JPY: USD is growing 18.09.2019

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

USD showed corrective growth against JPY on Friday, retreating from local lows of November 4. Positive dynamics was facilitated by strong macroeconomic statistics from Japan and weak data from the USA. Japan’s Industrial Production in September increased by 1.3% YoY after rising by 1.1% YoY in the previous month. In monthly terms, production grew by 1.7% MoM after a decrease of 1.2% MoM in the previous month and with a forecast of +1.4% MoM. Capacity Utilization in September increased by 1% after a decrease of 2.9% in August. Analysts expected a negative trend to remain at the level of –0.6%.

Similar statistics on Industrial Production from the United States turned out to be weaker than forecasts, and USD was supported only by data on Retail Sales. In October, Retail Sales grew by 0.3% MoM after a decline of 0.3% MoM in the previous month. Analysts had expected increase by 0.2% MoM.

Support and resistance

Bollinger Bands in the D1 chart demonstrate flat dynamics. The price range is almost constant, remaining rather spacious for the current activity level. MACD is trying to reverse upwards keeping a previous sell signal (located below the signal line). Stochastic, having approached its lows, signaled about the upward reversal, indicating risks of oversold USD in the ultra-short term.

Full-fledge correctional growth is possible in the short and/or ultra-short term.

Resistance levels: 108.98, 109.28, 109.47.

Support levels: 108.71, 108.54, 108.22, 108.00.

Trading tips

To open long positions, one can rely on the breakout of 108.85. Take profit – 109.28 or 109.47. Stop loss – 108.50 or 108.46.

Rebound from 108.85 as from resistance with the subsequent breakdown of 108.71 or 108.60 can become a signal for new sales with target at 108.24 or 108.00. Stop loss – 109.00 or 109.10.

Implementation time: 2-3 days.

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

 

[Antony_NPBFX]

AUD/USD: the instrument recovers 20.11.2019

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 moderate growth against USD on Tuesday, updating local highs of November 14. During the day, the instrument mainly declined, remaining under pressure after the publication of controversial minutes of the RBA meeting. In addition, the uncertain situation around the trade negotiations between the US and China, which has been noticeably complicated lately, is also putting pressure on AUD.

Today, the instrument has returned to decline. Investors are focusing on publications from Australia, as well as the decision of the People's Bank of China on the interest rate. Westpac Leading Index fell by 0.07% in October, after falling by 0.12% last month. The Chinese regulator, in turn, unexpectedly lowered its interest rate from 4.2% to 4.15%, apparently trying to support an economy that is showing a slowing trend.

Support and resistance

Bollinger Bands in D1 chart demonstrate a stable decrease. The price range is narrowing, reflecting the emergence of ambiguous dynamics of trading in the short term. MACD is prone to reverse upwards preserving a sell signal (located below the signal line). Stochastic is growing, indicating good prospects for the development of “bullish” trend in the ultra-short term.

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

Resistance levels: 0.6821, 0.6833, 0.6846, 0.6864.

Support levels: 0.6800, 0.6779, 0.6759.

Trading tips

To open long positions, one can rely on the breakout of 0.6821 or 0.6833. Take profit – 0.6864 or 0.6881. Stop loss – 0.6810 or 0.6800.

The return of “bearish” trend with the breakdown of 0.6800 may become a signal for further sales with the target at 0.6759 or 0.6740. Stop loss – 0.6820 or 0.6830.

Implementation time: 2-3 days.

Use more opportunities of the NPBFX analytical portal: E-book

If you just recently started to be interested in trading on FOREX and would like to deepen your knowledge, an electronic Beginner's Guide to FOREX Trading will be an excellent helper for you here. The book consists of 5 chapters and reflects fundamental concepts of the foreign exchange market to start successful trading. From the main chapters of the E-book you can learn about the concepts and history of FOREX, currencies and trend lines, technical indicators, types of orders, trading on news, psychology of trading, risk management and much more.

You can read a Beginner's guide to FOREX Trading online or download it free of charge from the NPBFX analytical portal in the "Education" section. In order to get unlimited access to the E-book and other useful instruments on the portal, you need to register 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 AUD/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

NZD/USD: instrument consolidates 22.11.2019

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

The NZD/USD pair moves flat during the Asian session and is located near the opening level of 0.6401. Investors receive conflicting information about the process of trade negotiations between the United States and China, which puts significant pressure on the instrument. In turn, poor macroeconomic statistics from the USA do not allow the instrument to decline more confidently.

During the day, traders expect the publication of a block of macroeconomic data from the USA on the dynamics of business activity indices in various sectors for November. Analysts suggest the release of sufficiently strong statistics, which may contribute to the return of the “bearish” dynamics.

Support and resistance

On the daily chart, Bollinger bands are moving in a flat. The price range has consolidated but remains quite spacious for the current level of activity in the market. The MACD indicator is reversing downwards, forming a new sell signal (the histogram is below the signal line). Stochastic is showing a slightly more confident downward trend, signaling the chances of a “bearish” correction in the ultra-short term.

It is possible to open new short positions on the instrument in the short and/or ultra-short term.

Resistance levels: 0.6417, 0.6436, 0.6464.

Support levels: 0.6396, 0.6374, 0.6357, 0.6320.

Trading tips

Long positions may be opened after the breakout of the level of 0.6417 with the targets at 0.6450–0.6464. Stop loss – 0.6396.

Short positions may be opened after the breakdown of the level of 0.6396 with the targets at 0.6357–0.6350. Stop loss – 0.6417.

Implementation period: 2–3 days.

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.

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 NZD/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

EUR/USD: EUR is consolidating 25.11.2019

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

EUR shows flat dynamics during today’s Asian session, slightly correcting after a sharp decline at the end of last week. The reason for the reduction was weak macroeconomic statistics from Europe. Markit Composite PMI in the euro area fell from 50.6 to 50.3 points in November, while investors expected the indicator to rise to 50.9 points. At the same time, Services PMI decreased from 52.2 to 51.5 points, while Manufacturing PMI rose from 45.9 to 46.6 points, which was better than market expectations of 46.4 points.

In addition, the market responded to Christine Lagarde’s first appearance as the new ECB President. Lagarde avoided any details in her speech, but noted the need for a “revision of European monetary policy”. In addition to applying traditional measures, the head of the European regulator plans to bet on stimulating business investment and increasing productivity.

Support and resistance

Bollinger Bands in D1 chart demonstrate a downtrend. The price range is slightly changing, being spacious enough for the current activity level in the market. MACD reversed downwards again having formed new sell signal (located below the signal line). Stochastic keeps a confident downward direction but is rapidly approaching its lows, which indicates the risks of oversold euro in the ultra-short term.

Technical indicators do not contradict the further development of the downtrend in the short and/or ultra-short term.

Resistance levels: 1.1042, 1.1061, 1.1095, 1.1117.

Support levels: 1.1000, 1.0982, 1.0947.

Trading tips

To open long positions, one can rely on the rebound from 1.1000 as from support with the subsequent breakout of 1.1042. Take profit – 1.1095 or 1.1117, 1.1138. Stop loss – 1.1000. Implementation time: 2-3 days.

The breakdown of 1.1000 may serve as a signal to new sales with the target at 1.0947. Stop loss – 1.1030. Implementation time: 1-2 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 EUR/USD and trade efficiently with NPBFX.