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[Antony_NPBFX]

AUD/USD: the Australian dollar retreats from record lows 14.10.2022

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 moderate growth, retreating from the record lows of April 2020, updated the day before, when AUD/USD fell to 0.6170. The instrument reacted to the publication of US data on inflation, which increased the likelihood of the US Federal Reserve continuing its policy of tightening monetary stimulus.

The Harmonized Consumer Price Index (excluding food and energy) in the US accelerated in September from 6.3% to 6.6%, ahead of forecasts at 6.5%. In turn, expectations for inflation in Australia in October, published by the Melbourne Institute, did not change compared to the previous month and amounted to 5.4%, while analysts expected growth to 5.8%.

The focus of investors today is statistics on inflation in China. The Consumer Price Index in annual terms in September rose by 2.8% after rising by 2.5% in the previous month, and in monthly terms added 0.3% after falling by 0.1%, while analysts expected growth by 0.4%. At the same time, the Producer Price Index for the same period slowed down from 2.3% to 0.9%, while the forecast was for an increase of 1.0%. China's monetary authorities are in no hurry to follow the general trend of raising interest rates, and such inflation statistics are likely to only strengthen the regulator's position in the near future.

The President of the World Bank, David Malpass, predicted a possible recession in the global economy as early as 2023 against the backdrop of a slowdown in developed countries and an increase in household debt burden due to the depreciation of national currencies. In addition, the agency predicts that about 7.0% or 570.0 million people will fall into extreme poverty (day spending does not exceed 2.15 dollars a day), noting that the coronavirus pandemic was a turning point that stopped a long period of reduction poverty, and the rapid pace of inflation and the escalation of the military conflict on the territory of Ukraine, which has become a catalyst for rising food prices, only aggravate the situation.

Support and resistance

Bollinger Bands in D1 chart demonstrate a moderate decrease. The price range is slightly narrowing, reflecting the ambiguous dynamics of trading in the short term. MACD has reversed to growth having formed a new buy signal (located above the signal line). Stochastic shows more active growth and is currently located approximately in the center of its area, signaling in favor of the development of corrective growth in the nearest time intervals.

Resistance levels: 0.6362, 0.6450, 0.6522, 0.6572.
Support levels: 0.6250, 0.6200, 0.6140, 0.6100.

Trading tips

Long positions can be opened after a breakout of 0.6362 with the target of 0.6522. Stop-loss — 0.6280. Implementation time: 2-3 days.

A rebound from 0.6362 as from resistance, followed by a breakdown of 0.6250 may become a signal for opening of new short positions with the target at 0.6140. Stop-loss — 0.6310.

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

You can learn more about the current situation on Apple Inc. 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]

The Walt Disney Co.: technical analysis 17.10.2022

Good afternoon, dear forum visitors!

NPBFX offers the latest release of analytics on The Walt Disney Co. for a better understanding of the current market situation and more efficient trading.

Shares of The Walt Disney Co., the American leader in the entertainment industry, are moving in a downward corrective trend around 94.00.

On the daily chart, the price is within the global downwards channel with dynamic boundaries of 112.00–78.00, having renewed the annual low of 90.50 yesterday.

On the four-hour chart, it can be seen that this mark remains the last barrier for buyers, and a little confidence in its strength is given by the “bullish” divergence signal that is currently being formed on the AO indicator, however, the trend in the dynamics of trading volumes suggests that the price may fall to the level 80.00.

Technical indicators keep a stable sell signal: the EMA fluctuation range on the Alligator indicator expands downwards, and the AO oscillator histogram forms bars with a downward trend in the sell zone.

Trading tips

Short positions may be opened after the price drops and consolidates below 90.50 with the target at 80.00. Stop loss – 95.00. Implementation period: 7 days or more.

Long positions may be opened after a reversal, growth, and consolidation of the price above 101.00 with the target at 112.00. Stop loss – 95.00.

Use more opportunities of the NPBFX analytical portal: glossary

Beginning traders certainly face a lot of specialized concepts and lexicon on FOREX, which are often not fully been understood. Swap, tick, hedge, margin calls are often unfamiliar to beginning traders. But the lack of knowledge of these fundamentals make a competent market vision impossible. So glossary on the NPBFX analytical portal could be an excellent helper in this case, which contains all the main definitions with explanations in a compact and accessible form. All concepts are arranged in alphabetical order, so that you can easily and quickly find and explore a new concept for yourself.

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

Use the current recommendations of analysts on The Walt Disney Co. and trade efficiently with NPBFX.

 

[Antony_NPBFX]

EUR/USD: consolidation at local highs 19.10.2022

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 mixed dynamics, consolidating near 0.9840 and local highs from October 6. Traders are once again in no hurry to open new positions against the backdrop of some stabilization of the market situation. In particular, analysts pay attention to the easing of energy risks for Europe as prices for "blue fuel" and oil decrease, while the volume of supplies of liquefied natural gas increases. In addition, pressure from the dollar is gradually easing, as the US Federal Reserve increasingly mentions the possibility of slowing down the pace of interest rate hikes in the near future.

Macroeconomic statistics from Europe published yesterday did not have a noticeable impact on the instrument's dynamics. The index for Current Situation in Germany in October from the Center for European Economic Research (ZEW) showed a sharp decline from -60.5 points to -72.2 points, which turned out to be worse than market expectations of a fall to -68.0 points. At the same time, the index of Economic Sentiment in Germany from ZEW for the same period adjusted slightly from -61.9 points to -59.2 points, while forecasts suggested a further decline to -65.7 points. In the eurozone, the ZEW survey reflected a correction in the index of Economic Sentiment in October from -60.7 points to -59.7 points, while the forecast was -60.6 points.

The President of the European Central Bank (ECB), Christine Lagarde, speaking at a meeting of the International Monetary Fund (IMF) predicted a "significant slowdown" in the region's economy in the second half of this year, the catalyst for which will be rapid inflation and reduced international demand. In addition, the official confirmed the continued tightening of monetary stimulus over the next few meetings of the regulator to slow down inflation, which now stands at 10.0%. The "hawks" hope to begin a gradual reduction in the amount of assets on the ECB's balance sheet in early 2023 (now valued at 5.1 trillion euros) by not reinvesting the proceeds from redeemable papers, rather than by selling bonds.

Support and resistance

On the D1 chart, Bollinger Bands are gradually reversing horizontally. The price range is slightly changing, being spacious enough for the current activity level in the market. MACD grows, preserving a stable buy signal (located above the signal line). Stochastic retains a steady uptrend, but is located in close proximity to its highs, which points to the risk of overbought euro in the ultra-short term.

Resistance levels: 0.9900, 0.9950, 1.0000, 1.0050.
Support levels: 0.9850, 0.9800, 0.9750, 0.9666.

Trading tips

Short positions may be opened after a breakdown of 0.9800 with the target at 0.9700. Stop-loss — 0.9850. Implementation time: 2-3 days.

A rebound from 0.9800 as from support followed by a breakout of 0.9850 may become a signal for opening new long positions with the target at 0.9950. Stop-loss — 0.9800.

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.

 

[Antony_NPBFX]

GBP/USD: the political crisis in the UK puts pressure on the pound quotes 21.10.2022

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

GBP/USD is trading with a multidirectional dynamics, testing the level of 1.1200 for a breakdown. The British currency is still under pressure from the rising US dollar, which is supported by expectations of a tightening of the US Federal Reserve's monetary policy. The Bank of England is also set to further increase the interest rate, given the fact that inflation in the UK in September exceeded the psychological barrier of 10.0%; in addition, the regulator is considering launching a quantitative tightening program.

At the same time, the Bank of England is forced to respond not only to economic challenges, but also to the political crisis. The day before, British Prime Minister Liz Truss announced her resignation after only 45 days in office, but the official will continue to fulfill her duties until the elections, which are to be held next week. Analysts call the former Chancellor of the Exchequer Rishi Sunak the most likely candidate for the post of chairman of the Conservative Party and the head of government. In addition, Boris Johnson announced the decision to return to his political career. Truss resigned after being criticized for an initiative to reduce the fiscal burden and subsidize utility bills.

Today, investors are watching the publication of a block of macroeconomic statistics from the UK on the dynamics of Retail Sales: on a monthly basis, the indicator slowed down the negative dynamics from -1.6% to -1.4%, and on an annualized basis, on the contrary, strengthened it from -5.4% to -6.9%, while Retail Sales excluding Fuel on a monthly basis corrected from -1.6% to -1.5% with a forecast of -0.3%, and from -5.0% to -6.2% on an annual basis, although analysts expected -4.1%. Weak statistics may push the pound quotes to a new decline.

Support and resistance

On the D1 chart, the Bollinger Bands are gradually reversing into a descending plane. The price range is narrowing from above, reflecting the emergence of ambiguous dynamics in the short/ultra-short term. MACD reversed downwards having formed a new sell signal (located below the signal line). Stochastic shows a more confident decline, but at the moment it is rapidly approaching its lows, indicating risks of the instrument being oversold in the ultra-short term.

Resistance levels: 1.1300, 1.1494, 1.1600, 1.1700.
Support levels: 1.1150, 1.1060, 1.0922, 1.0600.

Trading tips

Short positions may be opened after a breakdown of 1.1150 with the target at 1.0900. Stop-loss — 1.1300. Implementation time: 1-2 days.

A rebound from 1.1150 as from support followed by a breakout of 1.1300 may become a signal for opening new long positions with the target at 1.1600. Stop-loss — 1.1150.

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 GBP/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

USD/JPY: US currency returns to growth 24.10.2022

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 American dollar resumed a fairly active growth against the Japanese yen, recovering from an equally sharp decline last Friday. The USD/JPY pair is again testing 149.00 for a breakout, receiving support from the upcoming US Federal Reserve meeting, which will be held on November 1-2. Forecasts suggest that the regulator will again decide to raise the interest rate by 75 basis points, after which the Fed's rhetoric should soften somewhat. Many board members are already in favor of a more cautious and balanced approach to increasing the cost of borrowing, reasonably fearing the risks of a recession in the US and global economies.

The traders are also awaiting the results of the Bank of Japan meeting, which will be held on October 28. The regulator does not have an issue of raising interest rates; however, the Bank somehow has to respond to a sharp unilateral weakening of the yen, which last week fixed below the psychological level of 150.00. It is likely that the Bank of Japan will again signal the possibility of foreign exchange interventions.

In the meantime, macroeconomic data provide little support to the yen. Jibun Bank's Manufacturing PMI fell from 50.8 points to 50.7 points in October, better than market expectations of a fall to 50.4 points, while the Services PMI showed a modest rise from 52.2 points to 53.0 points, ahead of market forecasts at 52.1 points.

Support and resistance

Bollinger Bands on the daily chart show a steady increase. The price range is narrowing, reflecting ambiguous nature of trading in the ultra-short term. MACD reversed downwards having formed a new sell signal (located below the signal line). Stochastic is showing similar dynamics, retreating from its highs, indicating the overbought American currency in the ultra-short term.

Resistance levels: 149.00, 150.00, 151.00, 152.00.
Support levels: 148.00, 147.00, 146.00, 145.00.

Trading tips

Long positions can be opened after a breakout of 149.00 with the target of 151.00. Stop-loss — 148.00. Implementation time: 1-2 days.

A rebound from 149.00 as from resistance, followed by a breakdown of 148.00 may become a signal for opening of new short positions with the target at 146.00. Stop-loss — 149.00.

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

You can learn more about the current situation on Apple Inc. 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, 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/JPY and trade efficiently with NPBFX.

 

[Antony_NPBFX]

Pfizer Inc.: technical analysis 26.10.2022

Good afternoon, dear forum visitors!

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

Shares of Pfizer Inc., a US pharmaceutical company, are correcting slightly above 45.00.

On the daily chart, the price is approaching the previously implemented global Triangle pattern with dynamic boundaries 48.00–50.00, rising towards the support line.

On the four-hour chart, it can be seen that the upward dynamics consolidate within the local Head and shoulders pattern, the Neckline of which is around 44.00, and the target for processing this signal is 48.00, which coincides with the support line of the global Triangle pattern.

Technical indicators are ready to reverse and issue a buy signal: fast EMAs on the Alligator indicator have come close to the signal line, and the AO oscillator histogram is forming upward bars in the sell zone.

Trading tips

Long positions may be opened after the price rises and consolidates above 46.50 with the target at 48.30. Stop loss — 45.00. Implementation period: 7 days or more.

Short positions may be opened after a reversal, reduction, and consolidation of the price below 44.00 with the target at 41.60. Stop loss — 45.00.

Use more opportunities of the NPBFX analytical portal: glossary

Beginning traders certainly face a lot of specialized concepts and lexicon on FOREX, which are often not fully been understood. Swap, tick, hedge, margin calls are often unfamiliar to beginning traders. But the lack of knowledge of these fundamentals make a competent market vision impossible. So glossary on the NPBFX analytical portal could be an excellent helper in this case, which contains all the main definitions with explanations in a compact and accessible form. All concepts are arranged in alphabetical order, so that you can easily and quickly find and explore a new concept for yourself.

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

Use the current recommendations of analysts on Pfizer Inc. and trade efficiently with NPBFX.

 

[Antony_NPBFX]

Netflix Inc.: technical analysis 28.10.2022

Good afternoon, dear forum visitors!

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

Shares of Netflix Inc., an American entertainment company, are on a corrective trend at 296.00.

On the daily chart, the price continues its confident upward trend, overcame the initial Fibonacci 23.6% correction level, located at 287.00, and is trying to consolidate above it.

On the 4-hour chart, we can see that the upside potential has increased significantly after this key mark has been overcome, and the next target could be the 38.2% Fibonacci base retracement level at 363.00. Opening short positions is possible now only in case of reverse consolidation below the initial correction level of 287.00.

Technical indicators maintain a stable upward signal: the range of fluctuations of the EMA on the Alligator indicator is expanding in the direction of growth, and the histogram of the AO oscillator is forming rising bars, rising in the buying zone.

Trading tips

Long positions may be opened after the price rises and consolidates above 315.00 with the target at 363.00. Stop loss – 300.00. Implementation period: 7 days or more.

Short positions may be opened after a reversal, reduction and consolidation of the price below 286.00 with the target at 212.00. Stop loss – 300.00.

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 Netflix Inc. and trade efficiently with NPBFX.

 

[Antony_NPBFX]

NZD/USD: weak growth at the beginning of the new trading week 31.10.2022

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

GBP/USD is trading with a multidirectional dynamics, testing the level of 1.1200 for a breakdown. The British currency is still under pressure from the rising US dollar, which is supported by expectations of a tightening of the US Federal Reserve's monetary policy. The Bank of England is also set to further increase the interest rate, given the fact that inflation in the UK in September exceeded the psychological barrier of 10.0%; in addition, the regulator is considering launching a quantitative tightening program.

At the same time, the Bank of England is forced to respond not only to economic challenges, but also to the political crisis. The day before, British Prime Minister Liz Truss announced her resignation after only 45 days in office, but the official will continue to fulfill her duties until the elections, which are to be held next week. Analysts call the former Chancellor of the Exchequer Rishi Sunak the most likely candidate for the post of chairman of the Conservative Party and the head of government. In addition, Boris Johnson announced the decision to return to his political career. Truss resigned after being criticized for an initiative to reduce the fiscal burden and subsidize utility bills.

Today, investors are watching the publication of a block of macroeconomic statistics from the UK on the dynamics of Retail Sales: on a monthly basis, the indicator slowed down the negative dynamics from -1.6% to -1.4%, and on an annualized basis, on the contrary, strengthened it from -5.4% to -6.9%, while Retail Sales excluding Fuel on a monthly basis corrected from -1.6% to -1.5% with a forecast of -0.3%, and from -5.0% to -6.2% on an annual basis, although analysts expected -4.1%. Weak statistics may push the pound quotes to a new decline.

Support and resistance

On the D1 chart, the Bollinger Bands are gradually reversing into a descending plane. The price range is narrowing from above, reflecting the emergence of ambiguous dynamics in the short/ultra-short term. MACD reversed downwards having formed a new sell signal (located below the signal line). Stochastic shows a more confident decline, but at the moment it is rapidly approaching its lows, indicating risks of the instrument being oversold in the ultra-short term.

Resistance levels: 1.1300, 1.1494, 1.1600, 1.1700.
Support levels: 1.1150, 1.1060, 1.0922, 1.0600.

Trading tips

Short positions may be opened after a breakdown of 1.1150 with the target at 1.0900. Stop-loss — 1.1300. Implementation time: 1-2 days.

A rebound from 1.1150 as from support followed by a breakout of 1.1300 may become a signal for opening new long positions with the target at 1.1600. Stop-loss — 1.1150.

Use more opportunities of the NPBFX analytical portal: analytics

You can find more actual analytical reviews on other popular currency pairs, metals and CFDs on the NPBFX online portal. Daily analytics with charts, current market prognoses and trading scenarios in the Feed section are available. Get free and unlimited access to the online portal after registering on the official website of NPBFX Company.

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

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

 

[Antony_NPBFX]

EUR/USD: eurozone economy slowed down in the third quarter 02.11.2022

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 flat trading dynamics, consolidating near 0.9885.

Investors are in no hurry to open new trading positions, preferring to wait for the results of the two-day meeting of the US Federal Reserve, which are expected to give signals about the slowdown in further tightening of monetary policy. At the same time, the market expects that today the regulator will announce another interest rate hike by 75 basis points to 4.0%. In addition, the release of data from Automatic Data Processing (ADP) on Nonfarm Payrolls for October is expected, which precedes the publication of the final report on the US labor market at the end of this week.

Data on Trade Balance and Unemployment Rate will be published today in Germany. Current forecasts suggest that against the background of a sharp slowdown in exports from 1.6% to 0.1%, the trade surplus in September will decrease from 1.2 billion euros to 0.7 billion euros. The Unemployment Rate, according to expectations, will not change in October; however, the Unemployment Change is likely to increase from 14.0 thousand to 15.0 thousand. In addition, according to Eurostat, the economy of the European Union showed growth in the third quarter, and against the backdrop of estimates of Gross Domestic Product (GDP), a recession will not occur this year. In the second quarter, the indicator rose by 0.8% in the euro area and by 0.7% in the EU as a whole, but on an annualized basis in the third quarter it slowed down to 2.1%. The most difficult situation is noted in the economies of Latvia, Austria and Belgium, where GDP in the third quarter fell by 1.7%, 1.0% and 1.9% respectively. The day before, the President of the European Central Bank (ECB), Christine Lagarde, in an interview with the Delfi news agency, said that the regulator should continue to raise interest rates to fight inflation, even if the likelihood of a recession in the eurozone increases.

Support and resistance

On the D1 chart, Bollinger Bands are gradually reversing horizontally. The price range is narrowing from below, reflecting the emergence of ambiguous dynamics of trading in the short term. MACD is going down preserving a stable sell signal (located below the signal line). Stochastic retains a steady downtrend but is located in close proximity to its lows, which indicates the risks of oversold euro in the ultra-short term.

Resistance levels: 0.9900, 0.9950, 1.0000, 1.0050.
Support levels: 0.9850, 0.9800, 0.9750, 0.9666.

Trading tips

Short positions may be opened after a breakdown of 0.9850 with the target at 0.9750. Stop-loss — 0.9900. Implementation time: 2-3 days.

The breakout of 0.9900 may be a signal to open new long positions with the target of 1.0000. Stop-loss — 0.9850.

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

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

 

[Antony_NPBFX]

Alibaba Group Holdings Ltd.: technical analysis 04.11.2022

Good afternoon, dear forum visitors!

NPBFX offers the latest release of analytics on Alibaba Group Holdings Ltd. for a better understanding of the current market situation and more efficient trading.

Shares of Alibaba Group Holdings Ltd., one of the world's largest e-commerce companies, correct at 65.00.

On the daily chart, the price is falling within a narrow downwards channel with dynamic boundaries of 50.00–80.00 and today it may try to renew the annual minimum at 62.00.

On the 4-hour chart, it can be seen that the downtrend has a high potential to continue, and the price may receive additional bearish momentum if it consolidates below 62.00, and then the next support will be 53.00. In case of a reverse movement, growth will be limited by the resistance line of the downwards channel around 81.00.

Technical indicators keep a sell signal: fast EMAs on the Alligator indicator are actively moving away from the signal line, and the AO oscillator histogram forms bars deep in the sell zone.

Trading tips

Short positions may be opened after the price drops and consolidates below 62.00 with the target at 53.00. Stop loss — 66.00. Implementation period: 7 days or more.

Long positions may be opened after a reversal, growth and consolidation of the price above 69.00 with the target at 81.00. Stop loss — 65.00.

Use more opportunities of the NPBFX analytical portal: glossary

Beginning traders certainly face a lot of specialized concepts and lexicon on FOREX, which are often not fully been understood. Swap, tick, hedge, margin calls are often unfamiliar to beginning traders. But the lack of knowledge of these fundamentals make a competent market vision impossible. So glossary on the NPBFX analytical portal could be an excellent helper in this case, which contains all the main definitions with explanations in a compact and accessible form. All concepts are arranged in alphabetical order, so that you can easily and quickly find and explore a new concept for yourself.

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

Use the current recommendations of analysts on Alibaba Group Holdings Ltd. and trade efficiently with NPBFX.