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[Antony_NPBFX]

USD/JPY: USD maintains an uptrend 07.02.2020

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 is showing a slight decline against JPY during today's Asian session, correcting after strong growth since the beginning of the week, which led to the renewal of local highs on the instrument of January 22. USD decline is technical in nature, as traders take their long profits before the weekend.

Meanwhile, macroeconomic statistics from Japan remain mixed. Overall Household Spending in December 2019 decreased by 4.8% YoY after a decrease of 2% YoY in November. Analysts had expected a slight improvement in the dynamics of the indicator and a decrease of only 1.7% YoY. Coincident Index in December remained at the previous level of 94.7 points against the forecast of growth to 95.9 points. Leading Economic Index for the same period increased from 90.8 to 91.6 points, which turned out to be better than neutral market forecasts.

Support and resistance

On the D1 chart, Bollinger Bands are reversing horizontally. The price range is trying to consolidate, but remains rather spacious for the current level of activity in the market. MACD indicator is growing preserving a stable buy signal (located above the signal line). Stochastic, having reached the level of 100, reversed into the horizontal plane, indicating strong overbought USD in the ultra-short term.

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

Resistance levels: 110.00, 110.20, 110.40, 110.66.

Support levels: 109.75, 109.42, 109.25, 109.00.

Trading tips

To open long positions, one can rely on the breakout of 110.00. Take profit – 110.40 or 110.50. Stop loss – 109.75 or 109.60. Implementation time: 1-2 days.

The rebound from 110.00 as from resistance, with the subsequent breakdown of 109.75, can become a signal to new sales with target at 109.25 or 109.00. Stop loss – 110.20. Implementation time: 2-3 days.

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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: AUD is correcting 10.02.2020

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 is growing against USD during today’s Asian session, retreating from new record lows since 2009, updated at the end of last week. The instrument adds about 0.35%, testing 0.6700 for a breakout. In addition to a number of technical factors, macroeconomic statistics from China provide strong support for AUD. Last Friday, the Chinese economy showed a sharp increase in exports (9.1% YoY), and today it supports consumer sentiment with consumer inflation statistics. In January, Consumer Price Index rose by 1.4% MoM and by 5.4% YoY, which was significantly better than market expectations of 0.8% MoM and 4.9% YoY. Today, interesting statistics from Australia are not expected, but on Tuesday there will be data on the dynamics of Australia’s Home Loans for December.

Support and resistance

Bollinger Bands in D1 chart demonstrate a stable decrease. The price range is narrowing from below, reflecting the emergence of ambiguous trading dynamics in the short term. MACD is reversing upwards preserving a sell signal (located below the signal line). Stochastic almost ignores the appearance of the correctional growth of AUD during today’s Asian session. The indicator still maintains a confident downtrend, indicating the preservation of the “bearish” momentum in the ultra-short term.

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

Resistance levels: 0.6700, 0.6723, 0.6746, 0.6776.

Support levels: 0.6677, 0.6650, 0.6620, 0.6600.

Trading tips

To open long positions, one can rely on the breakout of 0.6700 or 0.6723. Take profit – 0.6776 or 0.6800. Stop loss – 0.6677 or 0.6660.

The rebound from 0.6700 as from resistance with the subsequent breakdown of 0.6677 or 0.6660 can become a signal for new sales with target at 0.6620 or 0.6600. Stop loss – 0.6700 or 0.6715.

Implementation time: 2-3 days.

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[Antony_NPBFX]

Brent Crude Oil: oil prices recover 12.02.2020

Good afternoon, dear forum visitors!

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

Today, during the Asian session, oil prices are growing moderately, continuing to develop the “bullish” momentum formed yesterday. The quotes were able to deviate from the year’s lows amid some improvement in the situation with the spread of coronavirus. Optimism regarding the epidemic was also supported by the chief medical adviser to the PRC government, who suggested that the peak of the virus would occur in February, after which it would be possible to count on a gradual weakening of the epidemic.

In turn, a report published on Tuesday by the American Petroleum Institute prevented a more confident growth of the instrument. In the week of February 7, oil reserves grew by 6 million barrels after rising by 4.18 million barrels over the past period. Today, the official report on oil reserves from the US Department of Energy will be released.

Support and resistance

On the daily chart, Bollinger bands are steadily declining. The price range is narrowing, reflecting the emergence of upward dynamics in the ultra-short term. The MACD indicator is growing, maintaining a poor buy signal (the histogram is above the signal line). Stochastic demonstrates similar dynamics, retreating from its lows, signaling that the instrument is oversold in the ultra-short term.

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

Resistance levels: 56.00, 57.06, 59.00, 60.00.

Support levels: 54.20, 53.46, 52.00.

Trading tips

Long positions may be opened after the breakout of the level of 56.00 with the targets at 58.00 or 59.00. Stop loss – 55.00 or 54.20.

Short positions may be opened after the breakdown of the level of 54.20 with the target at 52.00. Stop loss – 55.50.

Implementation period: 2–3 days.

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[Antony_NPBFX]

USD/JPY: the pair is trading in the flat 14.02.2020

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 shows near-zero dynamics against JPY during today’s Asian session, consolidating near 109.80. Demand for USD and JPY again rose significantly after the publication of updated statistics on the number of patients with coronavirus, which frightened investors with a sharp surge in the number of infected. It is curious that macroeconomic statistics from the USA practically did not support USD. At the same time, the Consumer Price Index in January accelerated from 2.3% YoY to 2.5% YoY, which turned out to be better than market expectations. Consumer Price Index Excluding Food and Energy in January rose by 0.2% MoM and 2.3% YoY, which also turned out to be slightly better than forecasts of 0.2% MoM and 2.2% YoY.

Support and resistance

Bollinger Bands on D1 chart show moderate growth. The price range expands slightly, freeing a path to new local highs for the "bulls". MACD reversed downwards having formed a weak sell signal (located below the signal line). Stochastic decreases more confidently, which, however, weakly correlates with the real trend in the market.

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

Resistance levels: 110.00, 110.20, 110.40.

Support levels: 109.75, 109.52, 109.25, 109.00.

Trading tips

To open long positions, one can rely on the breakout of 110.00. Take profit – 110.40 or 110.50. Stop-loss – 109.75.

A breakdown of 109.75 or 109.60 may be a signal for new sales with target at 109.25 or 109.10. Stop loss should be placed no further than 110.00.

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.

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

 

[Antony_NPBFX]

Brent Crude Oil: oil prices rise 17.02.2020

Good afternoon, dear forum visitors!

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

On Friday, oil prices rose significantly, renewing local highs since January 31 and fixing the first weekly increase this year.

The instrument was supported by investors' hopes for the fall in the economic damage caused by the spread of coronavirus. In particular, traders are optimistic about new incentives from the Central Bank of China, which had previously taken a series of stabilization measures. The markets also expect that in response to the expected decline in oil demand in the first quarter of this year, OPEC will be able to counter the revised agreement of oil production reducing.

Support and resistance

On the daily chart, Bollinger Bands smoothly reverse into a horizontal plane. The price range is narrowing, reflecting the emergence of upward dynamics in the short/ultra-short term. The MACD indicator is growing, maintaining a strong buy signal (the histogram is above the signal line). Stochastic reached its highs and reversed into a horizontal plane, indicating that the instrument may become overbought in the ultra-short term.

The current readings of the technical indicators do not contradict the further development of upward dynamics in the short and/or ultra-short term.

Resistance levels: 57.78, 59.00, 60.00, 60.84.

Support levels: 57.06, 56.00, 54.20, 53.46.

Trading tips

Long positions may be opened after the breakout of the level of 57.78 with the target at 60.00 or 60.84. Stop loss – 56.50–56.00.

Short positions may be opened after a rebound from the level of 57.78 and a breakdown of the level of 57.06 with the target at 55.00 or 54.20. Stop loss – 58.00–58.50.

Implementation period: 2–3 days.

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[Antony_NPBFX]

GBP/USD: the pound is consolidating 19.02.2020

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 is trading with ambiguous dynamics during today’s Asian session, continuing to consolidate near 1.3000. Short-term support for the instrument is provided by the expectation of positive changes in the fiscal policy of the UK government after the appointment of the new Minister of Finance Rishi Sunak. Sunak confirmed his intention to introduce the new state budget on March 11, which strengthened optimism in the market.

Macroeconomic statistics published on Tuesday turned out to be contradictory and, on the whole, contributed to the development of negative dynamics for the instrument. In December, Average Earnings Including Bonus slowed down from 3.2% 3MoY to 2.9% 3MoY, which turned out to be worse than market expectations of 3% 3MoY. At the same time, the Unemployment Rate remained at the previous level of 3.8%, and Claimant Count Change in January increased from 2.6K to 5.5K, which is significantly lower than market expectations of 22.6K.

Support and resistance

Bollinger Bands in D1 chart demonstrate a gradual decrease. The price range is narrowing, reflecting the emergence of ambiguous dynamics of trading in the short term. MACD indicator is growing preserving a weak buy signal (located above the signal line). Stochastic showed a rebound from the level of “80” and reversed downwards, pointing to the risks of corrective decline in the ultra-short term.

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

Resistance levels: 1.3000, 1.3030, 1.3068, 1.3100.

Support levels: 1.2970, 1.2940, 1.2900, 1.2870.

Trading tips

To open long positions, one can rely on the breakout of 1.3030. Take profit – 1.3100. Stop loss – 1.3000.

The breakdown of 1.2970 may serve as a signal to new sales with the target at 1.2900. Stop loss – 1.3010.

Implementation time: 2-3 days.

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[Antony_NPBFX]

USD/CHF: dollar is being corrected 21.02.2020

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

Today, during the Asian session, the USD/CHF pair is falling within the correction, retreating from local highs of mid-December 2019. The development of the dynamics is facilitated by technical factors of closing of the profitable USD long positions, while there are not enough fundamental reasons for the growth of the franc.

Swiss macroeconomic statistics released yesterday was to be controversial. Investors were optimistic about data showing growth in exports and trade surplus for January. Exports grew by 20,676 million francs, and the trade balance added 4,778 million francs after an increase of 1975 million over the past period. Analysts expected growth of 3,361 million francs. In turn, the volume of Q4 2019 industrial production in Switzerland significantly slowed down from +7.9% YoY to +1.6% YoY, causing concern about the prospects of the indicator.

Support and resistance

On the daily chart, Bollinger bands grow steadily. The price range narrows, reflecting the emergence of ambiguous dynamics in the short or ultra-short term. MACD growth slows, preparing for a possible downward reversal but so far it has retained its previous buy signal (the histogram is above the signal line). Stochastic has long been located near its highs, signaling that USD is overbought in the ultra-short term.

A correctional decline is possible in the short and/or ultra-short term.

Resistance levels: 0.9847, 0.9867, 0.9889, 0.9900.

Support levels: 0.9825, 0.9810, 0.9788, 0.9765.

Trading tips

Long positions may be opened after the breakout of 0.9847 with the target at 0.9889 or 0.9900. Stop loss – 0.9825–0.9815.

Short positions may be opened after a rebound from 0.9847 and a breakdown of 0.9825–0.9810 with the targets at 0.9765–0.9750. Stop loss – 0.9847–0.9860.

Implementation period: 2–3 days.

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You can learn more about the current situation on USD/CHF and get acquainted with the weekly analytical forecast in the "Video reviews" section on the NPBFX portal. Weekly video reviews contain trends, key levels, trading recommendations for such popular instruments as EUR/USD, GBP/USD, USD/JPY, AUD/USD. In order to get free and unlimited access to video forecast 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 USD/CHF and trade efficiently with NPBFX.

 

[Antony_NPBFX]

EUR/USD: EUR is consolidating 24.02.2020

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 ambiguous dynamics against USD during today’s Asian session, correcting after an active growth of the instrument last Friday. The reason for the appearance of active uptrend, in addition to technical factors, was good data on the euro area's business activity for February. Markit Manufacturing PMI rose from 47.9 to 49.1 points with a forecast of a decline to 47.5 points. Markit Services PMI for the same period strengthened from 52.5 to 52.8 points, which also turned out to be better than market expectations. Composite Manufacturing PMI in February rose from 51.3 to 51.6 points with a forecast of 51 points.

German data were positive as well. Markit Manufacturing PMI rose sharply from 45.3 to 47.8 points, with the forecast of decline to 44.8 points. Today, traders expect the publication of IFO statistics on business optimism in Germany for February. Otherwise, given the fairly meager economic calendar, a rather quiet start to the new week is expected.

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 indicator is growing preserving a stable buy signal (located above the signal line). Stochastic is showing a more active growth being located in the middle of its area.

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

Resistance levels: 1.0862, 1.0900, 1.0924, 1.0940.

Support levels: 1.0826, 1.0800, 1.0777, 1.0740.

Trading tips

To open long positions, one can rely on the breakout of 1.0862. Take profit – 1.0924 or 1.0940. Stop loss – 1.0826 or 1.0800.

A breakdown of 1.0826 or 1.0800 may be a signal for new sales with target at 1.0740 or 1.0720. Stop loss – 1.0840 or 1.0862.

Implementation time: 2-3 days.

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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 EUR/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

XAU/USD: gold prices are corrected 26.02.2020

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 show growth during today’s Asian session, correcting after a sharp decline in quotations yesterday. The instrument is testing the level of 1645.00 for a breakout. Analysts attribute the appearance of negative trading dynamics on Tuesday to the fixation of long profits after updating seven-year highs. At the same time, investors are still frightened by statistics on the spread of the incidence of coronavirus outside of China, which supports gold quotes. Additional support for the instrument is provided by talks about the possible introduction by the leading regulators of changes in monetary policy in order to mitigate the negative consequences of a slowdown in the global economy. A number of analysts believe that the Fed may return to the idea of cutting rates already at the March meeting.

Support and resistance

Bollinger Bands in D1 chart show stable growth. The price range is expanding, indicating the possibility of a return of the “bulls” to previous record highs. MACD indicator is prone to reversing downwards preserving the buy signal (located above the signal line). Stochastic shows an active decline, reacting to the collapse of the instrument on Tuesday.

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

Resistance levels: 1640.00, 1658.27, 1689.11.

Support levels: 1630.00, 1620.00, 1611.06, 1602.18.

Trading tips

To open long positions, one can rely on the breakout of 1658.27. Take profit – 1689.11 or 1700.00. Stop loss – 1640.00.

A breakdown of 1640.00 or 1630.00 may be a signal for new sales with target at 1611.06 or 1602.18. Stop loss – 1650.00 or 1658.27.

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 XAU/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

USD/JPY: USD declines 28.02.2020

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 is falling against JPY today. The instrument loses about 0.58%, testing 109.00 for breakdown. JPY is again attracting investors as a safe asset. In turn, today’s Japanese macroeconomic statistics could be better.

Tokyo Core CPI slowed down in February from 0.7% YoY to 0.5% YoY, worse than forecast of 0.6% YoY. Unemployment Rate in January rose from 2.2% to 2.4% with a neutral forecast. Retail Sales in January rose by 0.6% MoM after rising by 0.2% MoM in the previous month. Analysts had expected the increase of 2.4% MoM. Industrial Production in January declined by 2.5% YoY after a decrease of 3.1% YoY in December. Analysts predicted a decrease of 9.5% YoY. Production slowed down from 1.2% MoM to 0.8% MoM with a forecast of growth of 0.2% MoM.

Support and resistance

On the D1 chart Bollinger Bands are reversing downwards. The price range expands, making way to new local lows for the “bears”. MACD is going down preserving a stable sell signal (located below the signal line). The indicator is trying to consolidate below the zero level. Stochastic retains stable downtrend being close to its lows, which indicates the risks of oversold USD in the ultra-short term.

Existing short positions should be kept in the short and/or ultra-short term until the signals from technical indicators clear up.

Resistance levels: 109.25, 109.52, 109.75, 110.00.

Support levels: 108.72, 108.30, 108.00, 107.76.

Trading tips

To open long positions, one can rely on the rebound from the support level of 108.72 with the subsequent breakout of 109.00 or 109.25. Take profit – 109.75 or 110.00. Stop loss – 108.72 or 108.50. Implementation time: 2-3 days.

A breakdown of 108.72 may be a signal for new sales with target at 108.00 or 107.76. Stop loss – 109.25. Implementation time: 1-2 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 USD/JPY and trade efficiently with NPBFX.