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[Antony_NPBFX]

GBP/USD: GBP is testing 1.3600 again 08.10.2021

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 multidirectional dynamics against USD today, holding near 1.3600, where the instrument was trying to consolidate at the beginning of the week.

Market activity remains low due to the fact that investors are reluctant to open new positions ahead of the weekend and the publication of the September US labor market report. Yesterday, the instrument managed to show moderate growth and won back most of the positions it lost on Wednesday. The surge in "bullish" sentiment is partly due to some improvement in the situation with the energy crisis in Europe. After the statements of the President of the Russian Federation Vladimir Putin about the increase in supplies through the territory of Ukraine, the gas price in Europe fell by half.

Another positive factor for GBP was the upbeat macroeconomic statistics from the UK. Halifax House Prices in September rose by 1.7% MoM after falling by 0.8% MoM in August. Analysts did not expect the indicator to change. Today, investors are focused on the quarterly report of the Bank of England, as well as the minutes of the regulator's meeting on the financial policy.

Support and resistance

On the D1 chart, Bollinger Bands are gradually reversing horizontally. The price range is narrowed from above, being spacious enough for the current activity in the market. MACD indicator grows, preserving a stable buy signal (located above the signal line). Stochastic, having reached its highs, reverses downwards, reflecting the risks of overbought GBP in the ultra-short term.

Resistance levels: 1.3650, 1.3700, 1.3750, 1.3800.
Support levels: 1.3600, 1.3552, 1.3500, 1.3450.

Trading tips

To open long positions, one can rely on the breakout of 1.3650. Take-profit – 1.3750. Stop-loss – 1.3600. Implementation time: 2-3 days.
The return of a "bearish" trend with the breakdown of 1.3552 may become a signal for new sales with the target at 1.3450. Stop-loss – 1.3600.

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[Antony_NPBFX]

USD/JPY: US dollar reaches record highs 11.10.2021

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, the USD/JPY pair grows steadily, renewing record highs since December 2018.

Investors are focused on the US labor market report for September, published last Friday. The ambiguous statistics did not greatly affect the dynamics of the asset, in which the dollar is still the clear leader. The data reflected positive wage growth and overall unemployment results but was disappointing by the slower growth of new jobs outside the agricultural sector (194K versus the expected 500K). Investors did not react to the negative dynamics, reasonably believing that it would not affect the plans of the US Federal Reserve to start tightening monetary policy soon.

On Friday, some support for the yen was provided by moderately optimistic macroeconomic statistics from Japan. Thus, the forecast for the development of events from Eco Watchers for September confidently rose from 43.7 to 56.6 points, which was noticeably better than market expectations of 45.8 points. The index of the current situation for the same period has strengthened from 34.7 to 42.1 points.

Support and resistance

Bollinger bands grow steadily on the daily chart. The price range actively narrows but not as fast as the “bullish” sentiments have developed in recent days. MACD grows, maintaining a strong buy signal (the histogram is above the signal line). Stochastic maintains a confident upward trend but is near its highs, indicating that USD may become overbought in the ultra-short term.

Resistance levels: 113.00, 113.50, 114.00.
Support levels: 112.06, 111.19, 110.81, 110.43.

Trading tips

Long positions may be opened after the breakout of 113.00 with the target at 114.00. Stop loss – 112.50. Implementation period: 1–2 days.

Short positions may be opened after the rebound from 113.00 and the breakdown of 112.50 with the target at 111.50. Stop loss – 113.00.

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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]

Brent Crude Oil: multidirectional trading dynamics 13.10.2021

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

Prices for Brent Crude Oil are trading in different directions after renewing three-year highs earlier this week.

Quotes continue to demonstrate steady growth amid the arrival of alarming publications that indicate a slowdown in the recovery of world economies and an expansion of the crisis in the energy market. Investors fear that against the backdrop of record electricity and natural gas prices in Europe, some power plants will be forced to use petroleum products to generate electricity, which will only exacerbate the current shortage. At the same time, OPEC+ is still abandoning the idea of a sharp increase in the production of "black gold". The cartel decided to stick to its target values, fearing sharp fluctuations and hoping to maintain a balance of supply and demand in the market.

Today, in addition to US statistics on consumer inflation for September, the focus of traders' attention is on the report of the American Petroleum Institute (API), which will reflect energy reserves as of the week of October 8. It should be recalled that there was a slight increase by 0.951 million barrels.

Support and resistance

Bollinger Bands in D1 chart show stable growth. The price range is slightly narrowing, staying spacious enough for the current activity level in the market. MACD reversed towards declining, having formed a new sell signal (located below the signal line). Stochastic, having once again reached the level of 80, reversed horizontally and signaled a strong overbought instrument in the ultra-short term.

There's a possibility of a full-fledged downtrend in the nearest time.

Resistance levels: 83.50, 84.18, 85.00.
Support levels: 82.50, 81.76, 81.00, 80.00.

Trading tips

To open short positions, one should wait for the confident breakdown of 82.50. Take-profit — 81.00 Stop loss – 83.50. Implementation period: 1-2 days.

A rebound from 82.50 as from support followed by a breakout of 83.50 may become a signal for new purchases with the target at 85.00. Stop loss – 82.50.

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[Antony_NPBFX]

AUD/USD: weak statistics does not impede the growth of the pair 15.10.2021

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 has been showing mixed performance against USD during the Asian session, consolidating near 0.7420 and updating local highs from September 7. Some support for the instrument is still provided by the rather vulnerable positions of USD: investors are in no hurry to open new positions, waiting for action from the US Fed to raise the interest rate in the near future.

The growth of AUD yesterday was not impeded by weak statistics from Australia on the labor market, which indicated a drop in Employment Change by 138K in September after falling by 146.3K in August. At the same time, the Unemployment Rate rose from 4.5% to 4.6%, which, however, turned out to be better than negative forecasts of an increase to 4.8%.

Support and resistance

Bollinger Bands in D1 chart show active growth. The price range is expanding but it fails to conform to the surge of "bullish" activity at the moment. MACD indicator grows, preserving a stable buy signal (located above the signal line). Stochastic retains an upward direction but is located in close proximity to its highs, which indicates the overbought AUD in the ultra-short term.

Resistance levels: 0.7440, 0.7500, 0.7550.
Support levels: 0.7408, 0.7374, 0.7328, 0.7287.

Trading tips

To open long positions, one can rely on the breakout of 0.7440. Take-profit – 0.7500. Stop-loss – 0.7408. Implementation time: 1-2 days.

A rebound from 0.7440 as from resistance, followed by a breakdown of 0.7408 may become a signal for new sales with the target at 0.7328. Stop-loss – 0.7450.

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[Antony_NPBFX]

NZD/USD: consolidation after last week's growth 18.10.2021

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 is showing ambiguous trading performance against USD during this morning session, consolidating at 0.7070.

The trading instrument has already managed to update the local highs of September 16, responding to the publication of strong macroeconomic statistics from New Zealand. Business NZ PSI in September rose from 35.4 to 46.9 points, which was better than the market average forecasts. The Consumer Price Index for Q3 2021 added 2.2% QoQ, showing a significant breakthrough from the previous 1.3% QoQ, while analysts hoped it only to strengthen within 1.4% QoQ. On an annualized basis, price growth accelerated from +3.3% YoY to a record +4.9% YoY, outstripping the already bold forecasts of a 4.1% YoY increase.

Investors believe that such a strong surge in inflationary pressures in the country will force the Reserve Bank of New Zealand (RBNZ) to speed up decisions on changes in the country's monetary policy. However, it is worth recalling that the New Zealand regulator was one of the first to raise the key rate by 0.25% in early October.

Support and resistance

Bollinger Bands in D1 chart show stable growth. The price range is expanding but it fails to conform to the development of "bullish" sentiments at the moment. MACD is also growing, maintaining a strong buy signal, being located above the signal line. Stochastic, having approached its highs, is also trying to reverse into a descending plane, indicating the risks of overbought NZD in the ultra-short term.

Resistance levels: 0.7100, 0.7150, 0.7200, 0.7250.
Support levels: 0.7040, 0.7000, 0.6950, 0.6900.

Trading tips

To open long positions, one can rely on the breakout of 0.7100. Take-profit – 0.7200. Stop-loss – 0.7040. Implementation time: 1-2 days.

A rebound from 0.7100 as from resistance followed by a breakdown of 0.7040 may become a signal for new sales with the target at 0.6950. Stop-loss – 0.7100.

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[Antony_NPBFX]

USD/JPY: USD consolidates near 2017 highs 20.10.2021

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 modest gains against JPY, holding near new record highs from November 2017.

The instrument is testing 114.50 for a breakout; however, the "bullish" impetus for USD has noticeably weakened since the beginning of the week, responding to the appearance of not the most optimistic macroeconomic statistics from the US. Data came out on Monday, indicating a sharp decline in industrial production in September by 1.3% MoM, while analysts expected an increase of +0.2% MoM. Experts point out that the decline in industrial production is caused by problems with supply chains, as well as a noticeable increase in energy prices in Europe and Asia.

Meanwhile, JPY was supported by data from Japan on exports and imports. Export volumes rose 13% YoY in September after rising 26.2% YoY a month earlier, while analysts had projected +11% YoY. Imports for the same period grew by 38.6% YoY, slowing down from +44.7% YoY in August. The indicator again turned out to be better than market forecasts at 34.4% YoY.

Support and resistance

Bollinger Bands in D1 chart show stable growth. The price range expands, freeing a path to new record highs for the "bulls". MACD indicator is growing, while preserving a rather stable buy signal (located above the signal line). Stochastic has been near its highs for a long time, signaling strongly overbought USD in the ultra-short term.

Resistance levels: 115.00, 115.50, 116.00.
Support levels: 114.50, 114.00, 113.50, 113.00.

Trading tips

To open long positions, one can rely on the breakout of 115.00. Take-profit – 116.00. Stop-loss – 114.50. Implementation time: 2-3 days.

The return of a "bearish" trend with the breakdown of 114.00 may become a signal for new sales with the target at 113.00. Stop-loss – 114.50.

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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.

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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]

USD/JPY: USD is correcting at the end of the week 22.10.2021

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 trading marginally higher against JPY in Asia, consolidating at 114.00. The day before, USD/JPY showed a moderate decline, retreating from its record highs and renewing the local lows of October 14, as at the end of the week there are quite strong corrective sentiments in the market. At the same time, a more confident decline in USD yesterday was hampered by optimistic statistics from the US on the dynamics of initial and continuing jobless claims. The number of initial jobless claims was only 290K, while analysts expected an increase to 300K.

Today, JPY is moderately supported by the Japanese macroeconomic data. National Consumer Price Index in September rose by 0.2% YoY after falling by 0.4% YoY in August. Analysts had expected an even more confident fall in prices by 0.8% YoY. Jibun Bank Manufacturing PMI rose from 51.5 to 53 points, which was also better than the forecasts at 51.4 points.

Support and resistance

Bollinger Bands in D1 chart show stable growth. The price range is narrowing, reflecting the emergence of ambiguous dynamics of trading in the short term. MACD reversed downwards having formed a new sell signal (located below the signal line). Stochastic is showing a downtrend being located in the middle of its area.

Resistance levels: 114.00, 114.50, 115.00, 115.50.
Support levels: 113.50, 113.00, 112.06, 111.19.

Trading tips

To open long positions, one can rely on the breakout of 114.50. Take-profit – 115.50. Stop-loss – 114.00. Implementation time: 2-3 days.

The breakdown of 113.50 may serve as a signal to new sales with the target at 112.06. Stop-loss – 114.00.

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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.

 

[Antony_NPBFX]

AUD/USD: correction after decline at the end of the week 25.10.2021

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 showing corrective gains against USD, recovering from a moderate decline at the end of last week and preparing to test 0.7500 for a breakout; however, there are still few fundamental reasons for the instrument's growth.

Last week, the Chair of the US Federal Reserve, Jerome Powell, reiterated the regulator's commitment to a gradual tightening of monetary policy through a reduction in the quantitative easing (QE) program, which the Fed plans to fully complete by mid-2022. With regard to a potential increase in interest rates, the current inflation rate is significantly shortening the time frame, and there are no reasons for a slowdown in price growth so far.

Meanwhile, the activity of the US manufacturing sector, according to published data, is already starting to decline. Markit Manufacturing PMI in October fell from 60.7 to 59.2 points against the forecast at 60.3 points.

Support and resistance

Bollinger Bands in D1 chart show stable growth. The price range is narrowing, reflecting the appearance of ambiguous dynamics of trading in the short term. MACD is trying to reverse upwards but preserves its previous sell signal (located below the signal line). Stochastic is showing a more confident downtrend, still signaling in favor of the development of a corrective decline in the ultra-short term.

To open new positions, it is necessary to wait for the trade signals to become clear.

Resistance levels: 0.7500, 0.7550, 0.7600, 0.7650.
Support levels: 0.7440, 0.7408, 0.7374, 0.7328.

Trading tips

To open long positions, one can rely on the breakout of 0.7500. Take-profit – 0.7600. Stop-loss – 0.7440. Implementation time: 1-2 days.

The breakdown of 0.7440 may serve as a signal to new sales with the target at 0.7328. Stop-loss – 0.7500.

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

You can learn more about the current situation on AUD/USD 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/CHF, USD/JPY. 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 AUD/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

EUR/USD: EUR is consolidating near 1.1600 27.10.2021

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 of trading against USD during today's Asian session, consolidating near 1.1600.

After a moderate decline at the beginning of the week, caused by the appearance of weak statistics from Germany, the activity on the market remains rather low, and investors expect the emergence of new drivers for the movement of the trading instrument. The Business Climate Index in Germany in October, according to the IFO, fell from 98.9 to 97.7 points, which turned out to be slightly worse than analysts' forecasts at 97.9 points. The IFO Current Assessment for the same period corrected from 100.4 to 100.1 points, and the IFO Expectations retreated from 97.4 to 95.4 points, with the outlook at 96.4 points.

Another negative factor for EUR is the fear that the European Central Bank (ECB) may become one of the last regulators in developed countries to decide to tighten monetary policy. The next meeting of the ECB will be held on Thursday, and more and more investors agree that the rhetoric of the final protocol will again turn out to be "dovish".

Support and resistance

In the D1 chart, Bollinger Bands are reversing horizontally. The price range is narrowing from below insignificantly, remaining rather spacious for the current level of activity in the market. MACD is trying to reverse downwards forming a new sell signal (located below the signal line). Stochastic is declining more actively, but is rapidly approaching its lows, indicating a strongly oversold EUR in the ultra-short term.

Resistance levels: 1.1600, 1.1650, 1.1700, 1.1754.
Support levels: 1.1570, 1.1528, 1.1500, 1.1450.

Trading tips

To open long positions, one can rely on the breakout of 1.1600. Take-profit – 1.1700. Stop-loss – 1.1540. Implementation time: 2-3 days.

A rebound from 1.1600 as from resistance, followed by a breakdown of 1.1570 may become a signal for new sales with the target at 1.1500. Stop-loss – 1.1610.

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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 EUR/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

EUR/USD: EUR is consolidating after active growth the day before 29.10.2021

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 is showing ambiguous dynamics against USD during today's Asian session, consolidating near the local highs of September 29, which were renewed against the background of strong growth in the instrument yesterday. Notable support for EUR/USD was provided by not the most confident macroeconomic publications from the USA. Annual data on the dynamics of US GDP for Q3 2021 reflected a sharp slowdown in the US economy from +6.7% YoY to +2.0% YoY, which turned out to be worse than expectations of +2.7% YoY.

Investors also focused on the meeting of the European Central Bank (ECB). As expected, the regulator did not change the parameters of monetary policy, keeping both the rate and the volume of the quantitative easing (QE) program unchanged. At the follow-up press conference, ECB President Christine Lagarde noted that the European economy continues to recover, but its growth rate is gradually slowing down due to epidemiological risks, a period of high energy prices, as well as supply chain disruptions that undermine the recovery in industrial activity. As for the high rates of price growth, Lagarde expects inflationary pressures to ease as early as 2022.

Support and resistance

Bollinger Bands in D1 chart show moderate growth. The price range is narrowing, pointing at the ambiguous nature of trading in the short term. MACD indicator grows, preserving a stable buy signal (located above the signal line). Stochastic keeps its upward direction but is rapidly approaching its highs, which reflects the risks of overbought EUR in the ultra-short term.

Resistance levels: 1.1700, 1.1754, 1.1800, 1.1850.
Support levels: 1.1650, 1.1600, 1.1570, 1.1528.

Trading tips

To open long positions, one can rely on the breakout of 1.1700. Take-profit – 1.1800. Stop-loss – 1.1650. Implementation time: 1-2 days.

The breakdown of 1.1650 may serve as a signal to new sales with the target at 1.1550. Stop-loss – 1.1700.

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 EUR/USD and trade efficiently with NPBFX.