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[Antony_NPBFX]

EUR/USD: the euro develops a corrective impetus 02.02.2022

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

The European currency shows weak growth against the US dollar during the Asian session, developing the corrective momentum formed at the beginning of the week and updating the local highs from January 26.

The instrument is moderately supported by the growing interest of investors in risky assets against the backdrop of discussions on the prospects for tightening monetary policy by the US Fed. At the moment, it is not clear whether the US regulator will decide on five or even more interest rate hikes this year, and whether the figure will be adjusted immediately by 50 basis points. The European Central Bank (ECB), in turn, relieved the markets of unnecessary expectations in advance, declaring its readiness to adjust existing parameters, focusing on the epidemiological situation caused by the spread of COVID-19, which is putting significant pressure on the region's economy.

Macroeconomic statistics from Europe published on Tuesday turned out to be moderately optimistic. Investors reacted rather positively to the decline in the Unemployment Rate in Germany from 5.2% to 5.1%, while the Unemployment Change fell by 48K in January after a decrease of 29K a month earlier (expert forecasts assumed a decline of only 6K).

Support and resistance

Bollinger Bands on the daily chart show a steady decline. The price range is narrowing, reflecting the emergence of multidirectional trading dynamics in the short term. MACD grows, preserving a stable buy signal (located above the signal line). Stochastic shows an upward direction but is rapidly approaching its highs, which reflects the risks of overbought EUR in the ultra-short term.

Resistance levels: 1.1300, 1.1363, 1.1400, 1.1422.
Support levels: 1.1255, 1.1220, 1.1185, 1.1130.

Trading tips

To open long positions, one can rely on the breakout of 1.1300 with the target at 1.1400. Stop-loss – 1.1255. Implementation time: 2-3 days.

A rebound from 1.1300 as from resistance followed by a breakdown of 1.1255 may become a signal for new sales with the target at 1.1150. Stop-loss – 1.1300.

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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]

NZD/USD: rising amid strong demand for risky assets 04.02.2022

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

During the Asian session, the NZD/USD pair grows slightly, renewing local highs since January 26.

The macroeconomic statistics from the USA, published on Thursday, were ambiguous. Thus, Initial Jobless Claims for the week of January 28 decreased from 261K to 238K, better than market forecasts of a fall to 245K. Markit Service PMI was also positive, rising from 50.9 to 51.2 points for January, exceeding the neutral forecasts. In turn, ISM Service PMI for the same period fell from 62.3 to 59.9 points, which was slightly better than investors' expectations of 59.5 points. Traders were also disappointed by the volume of industrial orders, which fell by 0.4% for December after rising by 1.8% in the previous period. Analysts had expected a decline of 0.2%.

Support and resistance

On the daily chart, Bollinger Bands are steadily declining. The price range is narrowing from below, reflecting the emergence of flat trading dynamics in the short term. The MACD indicator grows, keeping a strong buy signal (the histogram is above the signal line). Stochastic shows similar dynamics, approaching its highs, which indicates that NZD may become overbought in the ultra-short term.

Resistance levels: 0.6700, 0.6732, 0.6761, 0.6800.
Support levels: 0.6650, 0.6600, 0.6528, 0.6500.

Trading tips

Long positions may be opened after the breakout of 0.6700 with the target at 0.6800. Stop loss – 0.6650. Implementation period: 2–3 days.

Short positions may be opened after the rebound from 0.6700 and the breakdown of 0.6650 with the target at 0.6550. Stop loss – 0.6700.


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[Antony_NPBFX]

USD/JPY: the US dollar develops "bullish" dynamics 07.02.2022

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

The US dollar shows weak growth against the Japanese yen in Asian trading, developing a "bullish" signal formed last Thursday.

Noticeable support for the US currency is provided by a strong report on the US labor market, which was published on Friday and surpassed most forecasts. The American economy has created nearly 470K new jobs, just short of the 510K recorded in December. At the same time, there is also an increase in hourly wages. The only negative moment was the growth of the Unemployment Rate in January from 3.9% to 4.0%. The data obtained testify in favor of further tightening of monetary policy by the US Federal Reserve. Investors expect an increase in the key interest rate already during the March meeting of the regulator, and it can be adjusted immediately by 50 basis points.

Macroeconomic data released today in Japan did not have a significant impact on the yen. Coincident Index in December fell from 92.8 to 92.6 points with the forecast of growth to 94.7 points.

Support and resistance

Bollinger Bands in D1 chart show weak growth. The price range expands from above, freeing a path to new local highs for the "bulls". MACD is growing preserving a weak buy signal (located above the signal line). Stochastic is showing similar dynamics; however, the indicator line is already approaching its highs, indicating the risks of overbought dollar in the ultra-short term.

Resistance levels: 115.50, 116.00, 116.34, 117.00.
Support levels: 115.00, 114.50, 114.00, 113.50.

Trading tips

To open long positions, one can rely on the breakout of 115.50 with the target at 116.34. Stop-loss – 115.10. Implementation time: 2-3 days.

A rebound from 115.50 as from resistance followed by a breakdown of 115.00 may become a signal for new sales with the target at 114.00. Stop-loss — 115.50.

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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]

XAU/USD: gold renews local highs 09.02.2022

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

During the Asian session, gold prices are rising moderately, developing the "bullish" momentum since the beginning of the month and recovering from a sharp decline at the end of January. Supported by relatively poor positions in the American currency, the instrument approached testing the level of 1830.00 for a breakout upwards. Also, the "bulls" on the dollar are waiting for the data on consumer inflation in the US for January, hoping that they will become another signal in favor of a faster tightening of monetary policy by the US Federal Reserve. In turn, a further increase in gold quotes is hindered by a noticeable increase in the yield of treasury bonds both in the US and in Europe.

The US macroeconomic statistics released yesterday did not provide any noticeable support to the dollar. Thus, the business optimism index from the NFIB for January fell from 98.9 to 97.1 points. The index of economic optimism from IBD/TIPP retreated from 44.7 to 44.0 points in February, while the forecasts suggested that the indicator would increase to 47.2 points.

Support and resistance

On the daily chart, Bollinger bands reverse into a horizontal plane. The price range narrow, indicating the emergence of ambiguous trading dynamics in the short/medium term. The MACD indicator grows, keeping a strong buy signal (the histogram is above the signal line). Stochastic remains in a confident upward direction but is close to its highs, indicating that gold may become overbought in the ultra-short term.

Resistance levels: 1831.66, 1840.00, 1847.63, 1853.57.
Support levels: 1823.09, 1814.06, 1805.50, 1800.00.

Trading tips

Long positions may be opened after the breakout of 1831.66 with the target at 1847.63. Stop loss – 1823.09. Implementation period: 1–2 days.

Short positions may be opened after the rebound from 1831.66 and the breakdown of 1823.09 with the target at 1805.50. Stop loss – 1831.66.

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[Antony_NPBFX]

AUD/USD: Australian currency updates local lows 11.02.2022

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

The Australian dollar is developing a strong "bearish" momentum in tandem with the US currency, testing the level of 0.7120 for a breakdown and updating local lows from February 8.

In addition to technical correction factors at the end of the week, the downtrend was facilitated by strong macroeconomic statistics on inflation in the US, published the day before. The data showed a further acceleration in domestic consumer inflation to 7.5%, which is likely to require the US Federal Reserve to tighten monetary policy sooner during 2022. The start of the interest rate hike cycle is expected in March, when the quantitative easing (QE) program comes to an end.

The focus of investors today will also be on the Fed Monetary Policy Report and data on Michigan Consumer Sentiment Index for February.

Support and resistance

In the D1 chart, Bollinger Bands are reversing horizontally. The price range is almost unchanged, but it remains rather spacious for the current level of activity in the market. MACD is reversing downwards preserving the previous weak buy signal (located above the signal line). Stochastic, having rebounded from the level of "80" is declining, signaling in favor of the development of correctional dynamics in the ultra-short term.

Current showings of the indicators do not contradict the further development of the "bearish" trend in the short term.

Resistance levels: 0.7160, 0.7200, 0.7250, 0.7300.
Support levels: 0.7100, 0.7050, 0.7000, 0.6950.

Trading tips

To open new short positions, one can rely on the breakdown of 0.7100 with the target at 0.7000. Stop-loss — 0.7150. Implementation time: 1-2 days.

A rebound from 0.7100 as from support followed by a breakout of 0.7160 may become a signal for opening new long positions with the target at 0.7250. Stop-loss – 0.7100.

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/CAD: interest rate hike risks support the US dollar 14.02.2022

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

The US dollar shows ambiguous dynamics of trading against the Canadian currency during today's Asian session, holding near 1.2730.

The instrument managed to demonstrate a moderate positive trend at the end of last week, which was supported by expectations of a further increase in the interest rate by the US Fed against the backdrop of a sharp rise in inflation in the country by 7.5%, which is the highest level since February 1982. Analysts' forecasts assumed an increase of only 7.3% and at the end of December 2021, inflation in the country grew by only 7.0%.

The Canadian dollar, in turn, is still under pressure from a weak report on the labor market, released at the beginning of the month, and expects new drivers for possible growth. On Wednesday, Canada will release a block of macroeconomic statistics on the dynamics of consumer prices in January. On the same day, Timothy Lane, the member of the Board of Governors of the Bank of Canada, will make a speech.

Support and resistance

Bollinger Bands in D1 chart show weak growth. The price range is actively narrowing, pointing at the ambiguous nature of trading in the short term. MACD is growing preserving a weak buy signal (located above the signal line). Stochastic grows more steadily but is rapidly approaching its highs, which reflects risks of the overbought USD in the ultra-short term.

Resistance levels: 1.2750, 1.2786, 1.2812, 1.2850.
Support levels: 1.2700, 1.2650, 1.2600, 1.2558.

Trading tips

To open long positions, one can rely on the breakout of 1.2750 with the target at 1.2850. Stop-loss – 1.2700. Implementation time: 2-3 days.

A rebound from 1.2750 as from resistance, followed by a breakdown of 1.2700 may become a signal for new sales with the target at 1.2600. Stop-loss – 1.2750.

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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/CAD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

GBP/USD: development of flat dynamics in the short term 16.02.2022

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

The British pound has shown a poor upward trend against the US currency during the morning session, holding near the level of 1.3550. Since the beginning of the month, it has been developing a generally flat dynamic in the short term. The instrument reacted insignificantly due to the improvement in the geopolitical situation in Eastern Europe after there were signs of a resolution of the tense situation solely from the standpoint of diplomacy.

Yesterday, the market focused on macroeconomic statistics from the UK. Thus, the indicator of average wages for December, excluding bonuses, slightly corrected from 3.8% to 3.7%, which is better than market forecasts of 3.6%. In turn, wages, taking into account bonuses for the same period, increased from 4.2% to 4.3%, contrary to analysts' expectations of a slowdown to 3.9%. Jobless claims fell by 31.9K for January after falling by 51.6K last month, while the unemployment rate for December was unchanged at 4.1%.

Support and resistance

Bollinger Bands show a moderate increase on the daily chart: the price range narrows, indicating an ambiguous nature of trading in the short term. MACD falls, keeping a poor sell signal and below the signal line. Stochastic shows similar dynamics and rapidly approaches its lows, indicating that GBP may become oversold in the ultra-short term.

Resistance levels: 1.3565, 1.3600, 1.3650, 1.3700.
Support levels: 1.3500, 1.3460, 1.3435, 1.3400.

Trading tips

Long positions may be opened after the breakout of 1.3565 with the target at 1.3650. Stop loss – 1.3510. Implementation period: 2–3 days.

Short positions may be opened after the breakdown of 1.3500 with the target at 1.3400. Stop loss – 1.3550.

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

 

[Antony_NPBFX]

AUD/USD: the pair is preparing to end the week with strong growth 18.02.2022

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

During the Asian session, the AUD/USD pair has been trading near local highs of February 10, testing the level of 0.7200 for a breakout.

Significant support for the instrument is provided by rather poor macroeconomic signals that have been coming to the market from the US in recent days. In particular, yesterday, investors drew attention to the growth in Initial Jobless Claims: the figure for the week of February 11 rose from 225K to 248K, which was noticeably worse than market expectations for a decrease to 219K. At the same time, Continuous Jobless Claims for the week of February 4 still decreased from 1.619M to 1.593M, ahead of forecasts of 1.605M. An additional negative moment was the decline in the index of business activity in the manufacturing sector of the Philadelphia Fed in February from 23.2 to 16.0 points, while investors expected a decline to only 20.0 points.

Support and resistance

On the daily chart, Bollinger Bands actively grow. The price range changes slightly, limiting the pace of development of "bullish" dynamics in the short term. MACD grows, keeping a relatively strong buy signal (the histogram is above the signal line), and tries to consolidate above the zero line. Stochastic shows similar dynamics but indicates that the instrument may become overbought in the nearest time intervals.

Resistance levels: 0.7200, 0.7250, 0.7300, 0.7328.
Support levels: 0.7160, 0.7100, 0.7050, 0.7000.

Trading tips

Long positions may be opened after the breakout of 0.7250 with the target at 0.7350. Stop loss – 0.7200.

Short positions may be opened after the breakdown of 0.7160 with the target at 0.7050. Stop loss – 0.7210.

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: consolidating around 115.00 21.02.2022

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

The US dollar shows mixed dynamics against the Japanese yen in Asian trading, consolidating near the psychological level of 115.00.

Last week, the US currency showed a moderate decline, but the situation remained ambiguous, and traders unsuccessfully tried to assess the risks of deterioration in the geopolitical situation in Eastern Europe. After some improvement, the situation on the borders of Ukraine becomes tense again, which led to a surge in demand for safe assets. So far, the parties adhere exclusively to diplomatic lines of solving the problem; however, the media are full of various negative scenarios.

On Monday, pressure on the yen is also exerted by weak macroeconomic statistics from Japan. Jibun Bank Manufacturing PMI in February showed a steady decline from 55.4 to 52.9 points, which turned out to be worse than the average forecasts. Today is a public holiday in the US, so business activity statistics will only start appearing on Tuesday.

Support and resistance

On the D1 chart Bollinger Bands are trying to reverse horisontally. The price range is narrowing, pointing at the ambiguous nature of trading in the short term. MACD is going down preserving a moderate sell signal (located below the signal line). Stochastic keeps a confident downward direction but is already approaching its lows, which indicates the risks of oversold USD in the ultra-short term.

Existing short positions should be kept until technical indicators are clarified.

Resistance levels: 115.28, 115.67, 116.00, 116.34.
Support levels: 115.00, 114.50, 114.00, 113.50.

Trading tips

To open short positions, one can rely on the breakdown of 114.50 with the target at 113.50. Stop-loss – 115.00. Implementation time: 2-3 days.

The return of the "bullish" trend to the market with the breakout of 115.28 may become a signal for new purchases with the target of 116.00. Stop-loss – 114.90.

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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]

Brent Crude Oil: the uptrend is possible 23.02.2022

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 "black gold" continue to grow rapidly against the backdrop of the geopolitical situation in Eastern Europe. The day before, Brent Crude Oil quotes rose above 96.50, but by the end of the session corrected to 93.75 (Murray [7/8]).

In general, the situation on the market remains tense: investors fear interruptions in the supply of Russian oil and gas to the market in the event of active hostilities on the borders with Ukraine, which is intensified due to the actions of the German authorities, who suspended the certification of the Nord Stream 2 gas pipeline the day before. Experts believe that Russia will continue to fulfill its obligations under gas contracts, but will not increase the volume of supplies if necessary, not wanting to increase transportation through Ukrainian territory.

The prerequisites for further growth in energy prices on the market remain, although the increase in quotations is somewhat restrained by the possibility of concluding an American-Iranian "nuclear deal". In this case, Iran will be able to bring additional volumes of cheaper oil to the market, but in the current situation, even they are unlikely to be able to fully meet the growing demand.

Support and resistance

The price continues to be in an uptrend, the target of which may be at 100.00. The key level for the "bears" seems to be at 91.00 (the center line of Bollinger Bands), the breakdown of which will give the prospect of a corrective decline to 87.50 (Murray [6/8], the lower line of Bollinger Bands). However, this variant of the movement seems less likely, since the technical indicators indicate continued uptrend: Bollinger Bands and Stochastic reverse upwards, and MACD is stable in the positive zone.

Resistance levels: 95.00, 100.00, 106.25.
Support levels: 91.00, 87.50, 81.25.

Trading tips

Long positions may be opened above 95.00 with target at 100.00 and stop-loss at 92.00. Implementation period: 5-7 days.

Short positions may be opened from 91.00 with target at 87.50 and stop-loss at 93.80.

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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 Brent Crude Oil and trade efficiently with NPBFX.