NPBFX - making money with us since 1996!

[Antony_NPBFX]

GBP/USD: the pound is trying to recover its positions 20.06.2022

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 is showing weak growth against the US currency, recovering from a significant decline last Friday. GBP/USD is testing 1.2250 for a breakout, waiting for new drivers to appear on the market.

Moderate support for quotes last week was provided by the results of the meeting of the Bank of England on the interest rate. Officials, following the US Federal Reserve, continued to actively tighten monetary policy in order to curb rapid inflation, which was caused by the limited labor market and pricing strategies of large national companies, as well as increasing global tensions against the backdrop of an escalation of the military conflict in Ukraine. The regulator adjusted its interest rate by another 25 basis points to 1.25% and made its fifth consecutive increase since December 2021, becoming the first major bank to be "hawkish" since the start of the coronavirus pandemic. It is worth noting that three members of the Committee voted for a more significant adjustment of the value by 0.50%, but in the end the votes were distributed in the same way as at the May meeting. At the same time, inflationary risks for the UK remain quite high, and economic growth rates are rapidly slowing down, threatening a full-fledged recession. Current forecasts suggest that UK GDP will contract in Q2 2022 by 0.3%, which is not much less than in May.

Investors are waiting for the publication of May statistics on the dynamics of consumer prices in the UK on Wednesday. Current forecasts suggest that inflation will slow down in the monthly terms from 2.5% to 1.9%, but accelerate YoY from 9% to a new record high of 9.1%.

Support and resistance

Bollinger Bands in D1 chart demonstrate quite active decrease. The price range is almost unchanged, but it remains rather spacious for the current level of activity in the market. MACD is growing preserving a weak buy signal (located above the signal line). Stochastic keeps its upward direction but is rapidly approaching its highs, which reflects the risks of overbought GBP in the ultra-short term.

Resistance levels: 1.2250, 1.2328, 1.2400, 1.2457.
Support levels: 1.2163, 1.2074, 1.2000, 1.1933.

Trading tips

Long positions can be opened after a breakout of 1.2328 with the target of 1.2500. Stop-loss — 1.2250. Implementation time: 2-3 days.

A rebound from 1.2250 as from resistance, followed by a breakdown of 1.2163 may become a signal for opening of new short positions with the target at 1.2000. Stop-loss — 1.2250.

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

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]

XAU/USD: metal quotes are developing a downward trend 22.06.2022

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 moderately declining, testing 1825.00 for a breakdown and renewing new local lows from June 16.

Investors are in no hurry to open new trading positions ahead of the publication of inflation statistics from the UK, as well as the speech of the head of the US Federal Reserve, Jerome Powell, who, as analysts hope, will outline the immediate prospects for monetary policy. So, some agency representatives said they were not opposed to another rate hike by 75 basis points, and a more conservative position still suggests an increase of only 50 basis points, after which a pause will be required to assess the measures taken.

Quotes of gold, traditionally protective assets, are supported by growing fears about a slowdown in the global economy. Also, the geopolitical risks associated with the development of a military conflict in Ukraine are not weakening yet, while the countries of the world are forced to deal with the consequences of a sharp increase in energy prices. Analysts are confident that rapid inflation on a global scale and a slowdown in economic growth can catalyze stagflation in the US economy, and the US Federal Reserve's measures to tighten monetary policy will be insufficient. It, in turn, will allow gold to regain investor interest and overcome the level of 2000.00.

An additional negative factor for the metal is the increase in the yield of US Treasury bonds amid expectations of further actions by the American regulator. As new signals for the asset, there is the talk about a possible restriction of Russian gold imports by European countries in the next sanctions packages from the EU. In particular, Denmark has previously announced such a possibility.

Support and resistance

On the daily chart, Bollinger bands are moderately declining: the price range narrows slightly from below, reflecting the ambiguous nature of trading in the short term. MACD falls, keeping a poor sell signal (the histogram is below the signal line). Stochastic falls, reversing downwards in the center of its working area. The current readings of technical indicators do not contradict the further development of the "bearish" dynamics in the nearest time intervals.

Resistance levels: 1843.37, 1857.27, 1869.49, 1878.84.
Support levels: 1823.09, 1800.00, 1775.00, 1752.87.

Trading tips

Short positions may be opened after a confident downward breakdown of 1823.09 with the target at 1800.00. Stop loss – 1835.00. Implementation period: 1–2 days.

Long positions may be opened after the rebound from 1823.09 and the breakout of 1843.37 with the target at 1869.49. Stop loss – 1830.00.

Use more opportunities of the NPBFX analytical portal: trading signals for commodities

How can a trader determine if it’s worth buying or selling XAU/USD now or better waiting for a more favorable period? Use trading signals for commodities from the top 10 technical indicators on the NPBFX portal and make the right decisions! All registered users have free and unlimited access to the minutely updated trading signals (MA10, BBands, Ichimoku, Stochastic, ZigZag, etc.) for Gold, Silver, Brent and WTI Crude oil.

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]

AUD/USD: the instrument is consolidating around 0.6900 24.06.2022

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 shows corrective growth, winning back the losses of the previous two "bearish" sessions. The instrument is again testing the level of 0.6900 for a breakout, receiving support from the growth of corrective moods in the US currency. Investors are in a hurry to fix their profits, and also react to the publication of rather weak macroeconomic statistics from the US.

The data released the day before by S&P Global pointed to a drop in the index of business activity in the US Services sector from 53.4 to 51.6 points, while analysts had expected growth to 53.5 points. The Manufacturing PMI fell sharply from 57.0 to 52.4 points, which also turned out to be significantly worse than the market's expectations of a reduction to 56.0 points. The Composite PMI in June corrected from 53.6 to 51.2 points, while the forecast was at the level of 53.7 points.

Additional pressure on the markets yesterday was exerted by the speech of US Federal Reserve Chairman Jerome Powell in the US Senate, where the official again noted significant risks of expanding inflationary pressure within the country, recognizing the possibility of a recession due to the regulator's "hawkish" position. At the same time, the Fed intends to further tighten monetary policy, trying to return the Consumer Price Index to the target level of 2%.

In Australia, against the background of a lack of energy obtained with the help of solar panels and wind generators, a fuel crisis is rapidly developing. Last week, the Australian Energy Market Operator (AEMO) announced it was suspending market and capping wholesale electricity prices until June 23 due to the impossibility of uninterrupted supplies to consumers. Due to the existing deficit, local companies had to buy oil and gas in the spot markets, which contributed to a sharp increase in costs. The government is ready to return to coal-fired infrastructure, as Australian Resources Minister Madeleine King said earlier, noting that the resumption of such enterprises will provide an additional 30% of energy capacity and improve the situation with the energy supply on the east coast.

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 is trying to reverse upwards keeping a previous sell signal (located below the signal line). Stochastic retains a downward direction, but is rapidly approaching its lows, indicating the risks of oversold Australian dollar in the ultra-short term.

Resistance levels: 0.6950, 0.7000, 0.7050, 0.7100.
Support levels: 0.6900, 0.6849, 0.6800, 0.6750.

Trading tips

Long positions can be opened after a breakout of 0.6950 with the target of 0.7050. Stop-loss — 0.6900. Implementation time: 2-3 days.

A rebound from 0.6950 as from resistance, followed by a breakdown of 0.6900 may become a signal for opening of new short positions with the target at 0.6800. Stop-loss — 0.6950.

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]

NZD/USD: the instrument develops a "bullish" momentum 27.06.2022

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

The New Zealand dollar shows a moderate increase, developing a fairly confident "bullish" signal formed last Thursday. NZD/USD is trying to consolidate above 0.6300, receiving support from the publication of weak macroeconomic statistics from the US.

At the end of last week, Michigan Consumer Sentiment Index fell from 50.2 points to a new record low of 50.0 points, although analysts expected the index to remain unchanged. Today, investors expect the release of May data on the Durable Goods Orders dynamics. Forecasts suggest a sharp decline from 0.5% to 0.1% due in part to a sharp slowdown in vehicle purchases. On Wednesday, updated data on the dynamics of US GDP for Q1 2022 will be published. The indicator is expected to remain unchanged on the level of –1.5%.

Last weekend, it became known about the creation of the Partners in the Blue Pacific organization, which, in addition to Australia, Great Britain, Japan and the United States, also included New Zealand. It is noted that the main attention of the members of the alliance will focus on strengthening ties in various industries and economic interaction. In addition, the parties will develop measures to combat climate change, as well as to develop transport infrastructure, healthcare, and education. Experts agree that the main goal of creating a new alliance will be to counter the recent increased activity of China, which is trying to strengthen its position in the Pacific region.

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 is growing preserving a weak buy signal (located above the signal line). Stochastic reversed upwards, never reaching the level of "20". At the moment, the instrument is located approximately in the center of its area, signaling in favor of the development of corrective growth in the nearest time intervals.

It is worth looking into the possibility of the "bullish" correctional trend in the short and/or ultra-short term.

Resistance levels: 0.6350, 0.6400, 0.6450, 0.6500.
Support levels: 0.6300, 0.6244, 0.6200, 0.6156.

Trading tips

Long positions can be opened after a breakout of 0.6350 with the target of 0.6450. Stop-loss — 0.6300. Implementation time: 2-3 days.

A rebound from 0.6350 as from resistance, followed by a breakdown of 0.6300 may become a signal for opening of new short positions with the target at 0.6200. Stop-loss — 0.6350.

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]

USD/JPY: consolidation near record highs 29.06.2022

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 is showing mixed dynamics, testing 136.00 for a breakout. USD/JPY is building on its "bullish" momentum from earlier in the week, reacting to investor expectations for inflation to peak, fueled by the recent decline in commodity prices. In addition, the Chinese authorities intend to significantly ease the quarantine restrictions imposed due to the outbreak of COVID-19, which is likely to be a catalyst for economic recovery.

Traders are reluctant to open new positions in anticipation of the publication of updated data on the dynamics of US GDP for Q1 2022, although analysts do not predict any noticeable changes in the indicator. At the same time, speeches by the heads of the leading financial regulators, the US Federal Reserve, the Bank of England, and the European Central Bank (ECB), are expected today, which may shed light on the prospects for monetary policy in the US, the UK and the eurozone in the near future.

Significant support for the yen today is provided by quite optimistic macroeconomic statistics from Japan. Retail Sales in May increased by 0.6% after rising by 1.0% a month earlier, although analysts expected negative dynamics at the level of –0.1%, and in annual terms, the figure accelerated from 3.1% to 3.6%, which also turned out to be better than the predicted 3.3%. Large Retailer Sales over the same period showed a record acceleration from 4.0% to 8.5% instead of the expected slowdown to 1.3%.

In addition, Japan is increasing pressure on the Russian economy: for example, the day before, Prime Minister Fumio Kishida announced a ban on gold imports from the Russian Federation, which will apply to newly mined and processed metal. Moreover, Japanese companies are now prohibited from providing accounting, trust and some other financial services to Russian enterprises.

Support and resistance

Bollinger Bands in D1 chart show moderate growth. The price range expands slightly from above, freeing a path to new record highs for the "bulls". MACD is declining keeping a weak sell signal (located below the signal line). Stochastic, having shown an upward reversal at the beginning of the week, maintains an upward direction and is located near its highs, indicating the risks of the US dollar being overbought in the ultra-short term.

Resistance levels: 136.69, 137.50, 138.50, 139.50.
Support levels: 135.57, 134.54, 133.70, 133.00.

Trading tips

Long positions can be opened after a breakout of 136.69 with the target of 138.50. Stop-loss — 135.57. Implementation time: 1-2 days.

The breakdown of 135.57 may serve as a signal to open short positions with the target at 133.70. Stop-loss — 136.69.

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.

 

[Antony_NPBFX]

EUR/USD: the asset returned to decline 01.07.2022

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 a downtrend, correcting after an attempt at corrective growth the day before, which eventually allowed EUR/USD to retreat from the local lows of June 16. The euro was supported by expectations of a tightening of monetary policy by the European Central Bank (ECB), with representatives of the regulator speaking in favor of a faster increase in interest rates amid worsening inflation forecasts.

Earlier, the ECB announced its readiness to adjust the value during the July meeting by 25 basis points, but one should not exclude the possibility of an increase by 50 basis points at once, to which the inflation data may push the regulator. The day before, for example, the markets paid attention to the dynamics of prices in Spain, which exceeded forecasts and reached 10%. Investors were also disappointed by statistics from Germany: Retail Sales in annual terms fell sharply by 3.6% in May after falling by 0.4% a month earlier. Analysts expected the negative dynamics to worsen, but expected only –2%. At the same time, in monthly terms, the indicator rose by 0.6% after a decrease of 5.4% in April. Investors also paid attention to statistics on the labor market: in June, the Unemployment Change in Germany increased by 133K, while earlier the figure showed a decrease of 4K and the Unemployment Rate accelerated from 5% to 5.3%. Such statistics are explained by the inclusion in the register of a large number of Ukrainian refugees who are forced to look for a job due to the further escalation of the conflict in Ukraine.

Serbian President Aleksandar Vučić announced his readiness to join the anti-Russian sanctions, noting that the country intends to look for alternative ways to obtain oil, despite its heavy dependence on resources. He noted that the oil refining infrastructure in Pancevo has used its maximum capacity, and in case of emergency, gasoline prices can rise significantly. Earlier, Vučić said that as part of the sixth package of sanctions, Serbia will stop importing oil from Russia from November this year, which will lead to additional spending from the national budget in the amount of 600 million dollars.

Support and resistance

In the D1 chart, Bollinger Bands are reversing horizontally. The price range is narrowing, while remaining spacious enough for the current activity level in the market. MACD is going down, keeping a fairly stable sell signal (located below the signal line). Stochastic, having approached the level of "20", reversed into a horizontal plane, indicating the risks of oversold EUR in the ultra-short term.

Resistance levels: 1.0500, 1.0550, 1.0600, 1.0640.
Support levels: 1.0450, 1.0400, 1.0350, 1.0300.

Trading tips

Short positions may be opened after a breakdown of 1.0400 with the target at 1.0300. Stop-loss — 1.0450. Implementation time: 2-3 days.

The breakout of 1.0500 may be a signal to open new long positions with the target of 1.0600. Stop-loss — 1.0450.

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 EUR/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

AUD/USD: Australian dollar shows corrective growth 04.07.2022

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 shows a weak corrective growth, recovering from a strong decline at the end of last week, when the US currency strengthened significantly amid growing fears that a possible recession in the US would have an extremely negative impact on the global economy.

Quotes of the trading instrument completely ignored the relatively optimistic macroeconomic statistics from Australia: S&P Global's Manufacturing PMI rose from 55.8 to 56.2 in June with a neutral outlook, while AiG's Manufacturing PMI rose from 52.4 to 54.0 points.

Investors are paying a lot more attention to Australian statistics today, in part because US markets are closed for Independence Day. Significant support for the instrument is provided by the Building Permits, which rose sharply in May by 9.9% after declining by 3.9% a month earlier, although analysts had expected a further decline in the indicator by 1.8%. In turn, Home Loans issued in May increased by 2.1% after falling by 7.3% a month earlier, with a projected decrease in value by 2.0%.

Tomorrow investors are waiting for the decision of the Reserve Bank of Australia (RBA) on the interest rate. Current forecasts suggest that the regulator will increase the value by 50 basis points to 1.35%, which, however, can only provide short-term support to the Australian dollar.

Support and resistance

Bollinger Bands in D1 chart demonstrate active decrease. The price range is expanding from below; however, it fails to catch the surge of the "bearish" sentiment at the moment. MACD is going down having formed a new sell signal (located below the signal line). Stochastic, having approached the level of "20", is trying to reverse in the direction of growth, reacting to corrective sentiments at the beginning of the week.

Resistance levels: 0.6849, 0.6900, 0.6950, 0.7000.
Support levels: 0.6800, 0.6750, 0.6700, 0.6650.

Trading tips

Long positions can be opened after a breakout of 0.6849 with the target of 0.6950. Stop-loss — 0.6800. Implementation time: 1-2 days.

A rebound from 0.6849 as from resistance, followed by a breakdown of 0.6800 may become a signal for opening of new short positions with the target at 0.6700. Stop-loss — 0.6849.

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 GBP/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 AUD/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

EUR/USD: the instrument develops a strong "bearish" impetus 06.07.2022

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 a moderate decline, developing a strong "bearish" momentum, formed the day before. EUR/USD is testing 1.0245 for a breakdown, holding near the record lows updated yesterday.

Significant pressure on the position of the instrument was exerted by alarming data on business activity from S&P Global in the eurozone: the Composite PMI fell to a 16-month low, reflecting deterioration in manufacturing activity and growing fears of a full-fledged recession in the economy. In this regard, investors have adjusted their assessments of the prospects for tightening monetary policy, although there is practically no doubt about the July meeting of the European Central Bank (ECB). One way or another, the situation remains tense: the regulator has not raised the rate yet, and the risks of a recession are only increasing.

Today, investors are focused on statistics from the euro area on the dynamics of Retail Sales in May. Analysts' current forecasts are quite optimistic and suggest an increase of 0.4% in monthly terms and 5.4% in annual terms. Also during the day data on Factory Orders in Germany in May will be released, and it is likely to maintain a negative trend at –0.6%.

In the meantime, resources for European consumers will increase in price again. Last week, the Algerian company Sonatrach, whose imports to the EU in June amounted to about 9%, announced the introduction of changes in its pricing policy and, in particular, an increase in tariffs for gas supplies to the eurozone countries. At the moment, negotiations are underway with long-term clients to change the price formula (now it is pegged to Brent Crude Oil), which, however, can be revised every three years.

Support and resistance

Bollinger Bands in D1 chart demonstrate a moderate decrease. The price range is expanding, but at the moment it is not keeping up with the surge of "bearish" sentiment. MACD is going down preserving a stable 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 EUR in the ultra-short term.

Resistance levels: 1.0300, 1.0350, 1.0400, 1.0450.
Support levels: 1.0234, 1.0200, 1.0150, 1.0100.

Trading tips

Short positions may be opened after a breakdown of 1.0234 with the target at 1.0100. Stop-loss — 1.0300. Implementation time: 1-2 days.

A rebound from 1.0234 as from support followed by a breakout of 1.0300 may become a signal for opening new long positions with the target at 1.0400. Stop-loss — 1.0234.

Use more opportunities of the NPBFX analytical portal: economic calendar

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

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

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

 

[Antony_NPBFX]

AUD/USD: the instrument shows flat trading dynamics 08.07.2022

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 declining against the US currency during morning trading on July 8, losing value after trying to correct growth the day before. At the moment, AUD/USD is testing 0.6820 for a breakdown, retreating from the local highs of July 5.

Traders fix positions ahead of the publication of the final report on the US labor market for June, while the Australian currency receives little support from macroeconomic data on the dynamics of Imports and Exports. Statistics released yesterday showed a sharp 9.5% rise in Exports in May after rising 5% a month earlier. Due to the positive dynamics, Australia's Trade Surplus widened from 13.248 million Australian dollars to 15.965 million Australian dollars, with a forecast to shrink to 10.725 million Australian dollars.

In turn, American statistics disappointed investors: in May, the US Trade Deficit was recorded in the amount of 85.55 billion US dollars, which is only slightly lower than the figure of 86.69 billion US dollars in the previous period. Initial Jobless Claims for the week ended July 1 increased from 231.0 thousand to 235.0 thousand, while analysts expected a slight decrease to 230.0 thousand.

Meanwhile, in Australia, against the backdrop of rising fuel prices, as well as a shortage of skilled labor, food inflation is rapidly developing. Rain and frost in southeast Queensland led to a loss of harvest, which was the catalyst for a threefold increase in the price of greens, and deliveries to the region's stores fell by 80%. Farmers forecast shortages until at least the end of summer, after which weather conditions are likely to turn to favorable, and they will be able to re-sow fields, but the increase in prices for products will not slow down, as fertilizers, fuel, and packaging have also added significantly to the cost.

Support and resistance

On the daily chart, Bollinger Bands are moderately declining. The price range is narrowing, reflecting appearance of multi-directional dynamics in the short term. MACD is growing, maintaining a weak buy signal and being located above the signal line. Stochastic shows mixed dynamics, being located near the level of "20" and signaling in favor of the development of corrective growth in the ultra-short term.

Resistance levels: 0.6849, 0.6900, 0.6950, 0.7000.
Support levels: 0.6800, 0.6750, 0.6700, 0.6650.

Trading tips

Long positions can be opened after a breakout of 0.6849 with the target of 0.6950. Stop-loss — 0.6800. Implementation time: 2-3 days.

A rebound from 0.6849 as from resistance, followed by a breakdown of 0.6800 may become a signal for opening of new short positions with the target at 0.6700. Stop-loss — 0.6849.

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]

XAU/USD: gold stays at record lows 11.07.2022

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

XAU/USD is consolidating near the September 2021 lows, updated at the end of the last trading week, when the quotes showed the fastest weekly decline since June 2020, losing 4% in value.

Gold positions came under pressure on Friday amid the publication of a stronger report on the US labor market: the Unemployment Rate remained at 3.6%, while Employment Change rose by 372 thousand, well ahead of the projected 268 thousand, which allows investors to hope for continued tightening of monetary policy by the US Federal Reserve. According to the CME FedWatch indicator, more than 92% of traders are confident in the "hawkish" rhetoric at the next meeting of the regulator, as well as in the adjustment of the value by 75 basis points at the end of this month.

In turn, the USD Index at the beginning of the week rises by 0.26% to 107.280.

This week, the US data on inflation for June will be released, as well as the monthly economic report of the US Fed, the so-called "Beige Book". Current forecasts suggest that the Consumer Price Index in June in annual terms may accelerate from 8.6% to 8.7%, updating record highs, and in monthly terms, the previous growth rate of 1.0% is expected to remain unchanged.

In turn, moderate support for gold in the market is still provided by the expectations of the introduction of new restrictions on the import of Russian gold by European countries and their partners. Some Western countries have already announced the cessation of purchases of the precious metal from the Russian Federation, but so far a new package of EU sanctions with a corresponding ban has not been adopted.

Support and resistance

Bollinger Bands in D1 chart demonstrate a stable decrease. The price range is expanding, making way to new record lows for the "bears". MACD is going down, keeping a fairly stable sell signal (located below the signal line). Stochastic has reached its lows and is trying to reverse upwards, indicating risks of oversold instrument in the ultra-short term.

Resistance levels: 1752.87, 1775.00, 1784.31, 1800.00.
Support levels: 1730.00, 1720.00, 1700.00.

Trading tips

Short positions may be opened after a breakdown of 1730.00 with the target at 1700.00. Stop-loss — 1745.00. Implementation time: 2-3 days.

The breakout of 1752.87 may be a signal to open new long positions with the target of 1784.31. Stop-loss — 1735.00.

Use more opportunities of the NPBFX analytical portal: trading signals for commodities

How can a trader determine if it’s worth buying or selling XAU/USD now or better waiting for a more favorable period? Use trading signals for commodities from the top 10 technical indicators on the NPBFX portal and make the right decisions! All registered users have free and unlimited access to the minutely updated trading signals (MA10, BBands, Ichimoku, Stochastic, ZigZag, etc.) for Gold, Silver, Brent and WTI Crude oil.

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.