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[Antony_NPBFX]

USD/CAD: the instrument is consolidating 19.06.2020

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

USD shows ambiguous dynamics of trading against CAD during today’s Asian session, consolidating near the level of 1.3600. Yesterday, USD managed to strengthen across the entire spectrum of the market, receiving support from the concerns regarding the increase in the incidence of coronavirus in China and the US. Uncertain macroeconomic statistics on the US labor market almost did not prevent the strengthening of the instrument. Initial Jobless Claims for the week ending June 12 decreased from 1.566M to 1.508M, which was significantly worse than market expectations of 1.300M. Continuing Jobless Claims number fell from 20.606M to 20.544M with a forecast of 19.8M.

Canadian data has also been contradictory. Investors are optimistic about the release of the Canadian Employment Report from ADP. In May, the employment change increased by 208.4K jobs after a decrease of 2.361M jobs in the previous month. Experts expected the growth by 280.3K. At the same time, Wholesale Sales in April fell sharply by 21.6% MoM, which turned out to be almost twice worse than market expectations.

Support and resistance

In the D1 chart, Bollinger Bands are reversing horizontally. The price range is trying to consolidate, reflecting the flat nature of trading in the short term. MACD indicator is growing preserving a weak buy signal (located above the signal line). Stochastic still maintains a downtrend and reacts weakly to recent growth.

Resistance levels: 1.3650, 1.3700, 1.3800, 1.3900.

Support levels: 1.3571, 1.3500, 1.3400, 1.3314.

Trading tips

To open long positions, one can rely on the breakout of 1.3650. Take-profit – 1.3800. Stop-loss – 1.3571.

The breakdown of 1.3500 may serve as a signal to sales with the target at 1.3314. Stop-loss – 1.3600.

Implementation time: 2-3 days.

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

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[Antony_NPBFX]

EUR/USD: wave analysis 22.06.2020

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

The pair may grow.

On the 4-hour chart, a downward correction of the higher level developed as the wave (2), and the formation of the wave (3) began, within which the third wave of the lower level iii of 1 of (3) develops. Now, the wave (iii) of iii of 1 has formed, and a local correction is ending as the wave (iv) of iii. If the assumption is correct, after the end of the correction, the pair will grow to the levels of 1.1495–1.1605. In this scenario, critical stop loss level is 1.1096.

Main scenario

Long positions will become relevant above the level of 1.1096 with the targets at 1.1495–1.1605. Implementation period: 7 days and more.

Alternative scenario

The breakout and the consolidation of the price below the level of 1.1096 will let the pair go down to the levels of 1.1019–1.0769.

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[Antony_NPBFX]

NZD/USD: wave analysis 24.06.2020

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

The pair may grow.

On the 4-hour chart, the wave (А) of the higher level developed, and an upward correction began to develop as the wave (B), within which the wave A of (B) forms. Now, the third wave of the lower level iii of A is developing, within which a local correction has ended as the wave (iv) of iii, and the formation of the wave (v) of iii has begun. If the assumption is correct, the pair will grow to the levels of 0.6751–0.6972. In this scenario, critical stop loss level is 0.6377.

Main scenario

Long positions will become relevant during the correction, above the level of 0.6377 with the targets at 0.6751–0.6972. Implementation period: 7 days and more.

Alternative scenario

The breakout and the consolidation of the price below the level of 0.6377 will let the pair go down to the levels of 0.6078–0.5921.

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[Antony_NPBFX]

USD/CAD: wave analysis 26.06.2020

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.

The pair may grow.

On the 4-hour chart, the third wave of the higher level (3) develops, within which a downward correction developed as the second wave 2 of (3). Now, the development of the wave 3 of (3) has started, within which the first entry wave of the lower level (i) of i of 3 has formed, and a local correction has ended as the wave (ii) of i. If the assumption is correct, the pair will grow to the levels of 1.3875–1.4047. In this scenario, critical stop loss level is 1.3481.

Main scenario

Long positions will become relevant during the correction, above the level of 1.3481 with the targets at 1.3875–1.4047. Implementation period: 7 days and more.

Alternative scenario

The breakout and the consolidation of the price below the level of 1.3481 will let the pair go down to the levels of 1.3189–1.2948.

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[Antony_NPBFX]

USD/CHF: the dollar remains under pressure 29.06.2020

Good afternoon, dear forum visitors!

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

Current trend

Today, during the Asian session, the USD/CHF pair is showing flat trading, retreating from local highs since June 22, renewed at the end of last trading week. Moderate support for the US currency is provided by increased demand for shelter assets, as investors are noticeably worried about alarming statistics on the incidence of coronavirus in the world.

Macroeconomic data from the USA published last Friday was ambiguous but on the whole contributed to a moderate growth of the dollar. Thus, the volume of personal expenses of US citizens for May grew by 8.2% MoM after a decrease by 12.6% MoM last month. Analysts expected an increase by 9% MoM. Revenues, by contrast, fell by 4.2% MoM after gaining 10.8% MoM in April. Investors expected a decrease by 6% MoM. The University of Michigan consumer confidence index fell from 78.9 to 78.1 points for June, which was worse than market expectations for growth to 79 points.

Support and resistance

On the daily chart, Bollinger Bands reverse horizontally. The price range narrows from below, reflecting the ambiguous nature of trading in the short term. MACD grows, maintaining a poor buy signal (the histogram is above the signal line). Stochastic, reacting to the appearance of a "bearish" dynamics at the beginning of the new week, reversed horizontally.

It is better to wait until the signals from technical indicators are clear to open new positions.

Resistance levels: 0.9507, 0.9532, 0.9572, 0.9600.

Support levels: 0.9454, 0.9419, 0.9375.

Trading tips

Long positions may be opened after a rebound from 0.9454 and a breakout of 0.9507 with the target at 0.9572. Stop loss – 0.9470.

Short positions may be opened after the breakdown of 0.9454 with the target at 0.9375. Stop loss – 0.9500.

Implementation period: 2–3 days.

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[Antony_NPBFX]

XAU/USD: prices update record highs 01.07.2020

Good afternoon, dear forum visitors!

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

Current trend

Gold prices are trading in both directions near their multi-year highs, which were once again updated the day before. Investors are once again resorting to safe assets amid alarming news of a new outbreak of coronavirus, which may erase previous estimates of the timing of global economic recovery. First of all, the growing incidence in the United States is alarming, as the US economy has just begun to recover from the first wave of quarantine restrictions.

Rising geopolitical tensions between the US and China also contribute to lower demand for risk. Earlier, Beijing passed a controversial national security bill, which implies the strengthening of state control in Hong Kong. In response to this decision, the USA withdrew the special status of Hong Kong, which implied certain preferences in the field of trade.

Support and resistance

Bollinger Bands in D1 chart show stable growth. The price range expands from above, freeing a path to new local highs for the “bulls”. MACD indicator is growing preserving a weak buy signal (located above the signal line). Stochastic has reversed upwards again after a short decline and is approaching its highs, indicating that the instrument is overbought in the ultra-short term.

One should keep existing long positions in the short and/or ultra-short term.

Resistance levels: 1790.00, 1810.00.

Support levels: 1779.25, 1764.69, 1747.15, 1726.91.

Trading tips

To open long positions, one can rely on the breakout of 1790.00. Take-profit – 1820.00. Stop-loss – 1770.00.

A rebound from 1790.00 as from resistance followed by a breakdown of 1779.25 may become a signal for new sales with the target at 1747.15. Stop-loss should be placed no further than 1800.00.

Implementation time: 2-3 days.

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[Antony_NPBFX]

USD/JPY: the dollar is trading ambiguous 03.07.2020

Good afternoon, dear forum visitors!

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

Current trend

Today, during the Asian session, the USD/JPY pair is trading ambiguous, consolidating near 107.50. Traders continue to analyze the June statistics on the US labor market, published yesterday. The steady increase in the number of new jobs, as well as lower unemployment, were overshadowed by a further decrease in the dynamics of wage growth and a high rate of increase in the number of initial jobless claims.

At the end of the week, JPY is supported by a strong indicator of the manufacturing index of business activity in Japan from Jibun Bank. The June data reflected an increase in the index from 26.5 to 45 points, which was better than average market forecasts.

Support and resistance

On the daily chart, Bollinger bands move sideways. The price range remains virtually unchanged but remains spacious enough for the current level of activity in the market. The MACD indicator is growing, maintaining a poor buy signal (the histogram is above the signal line), and is trying to consolidate above the zero line. Stochastic, by contrast, maintains a fairly confident downward direction and practically does not respond to an attempt to correct the growth of the instrument at the end of this week.

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

Resistance levels: 107.87, 108.37, 108.83, 109.17.

Support levels: 107.32, 107.00, 106.71, 106.44.

Trading tips

Long positions may be opened after the breakout of 107.87 with the target at 108.50. Stop loss – 107.50.

Short positions may be opened after the breakdown of 107.32 with the target at 106.71. Stop loss – 107.75.

Implementation period: 2–3 days.

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[Retinuemarab]

Thank you for another interesting and informative analysis of XAU/USD.

 

[Antony_NPBFX]

EUR/USD: EUR is rising 06.07.2020

Good afternoon, dear forum visitors!

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

Current trend

EUR shows strong growth against USD during today's Asian session, approaching the local highs of last Thursday. Moderate support for the instrument is provided by good macroeconomic statistics from Europe, published last Friday. Markit Services PMI in Germany rose in June from 45.8 to 47.3 points with a neutral forecast. Markit PMI Composite for the same period rose from 45.8 to 47 points, which also turned out to be better than the forecasts. Markit Services PMI in the eurozone grew from 47.3 to 48.3 points, while Markit PMI Composite rose from 47.5 to 48.5 points.

In turn, pressure on USD is caused by disturbing news regarding the dynamics of the incidence of coronavirus in the USA. Despite the record growth rate of new cases, the authorities are hesitant to return harsh quarantine measures, limiting themselves only to a number of local restrictions. In particular, President Donald Trump has not canceled a trip around the country, dedicated to the celebration of Independence Day.

Support and resistance

Bollinger Bands in D1 chart demonstrate flat dynamics. The price range expands from above, freeing a path to new local highs for the "bulls". MACD has reversed to growth having formed a new buy signal (located above the signal line). Stochastic keeps a confident upward direction gradually approaching its highs.

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

Resistance levels: 1.1300, 1.1352, 1.1400, 1.1446.

Support levels: 1.1260, 1.1200, 1.1167, 1.1131.

Trading tips

To open long positions, one can rely on the breakout of 1.1300. Take-profit – 1.1380–1.1400. Stop-loss – 1.1250.

A rebound from 1.1300 as from resistance followed by a breakdown of 1.1260 may become a signal for new sales with the target at 1.1200. Stop-loss – 1.1300.

Implementation time: 2-3 days.

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

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

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

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

 

[Antony_NPBFX]

USD/CAD: the dollar is strengthening 08.07.2020

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

Today, during the Asian session, the USD/CAD pair shows ambiguous dynamics, testing the level of 1.3600 for a breakout. Yesterday, the US dollar was actively growing with the support of technical factors, retreating from its local lows since June 23. Also, investors responded positively to the first signs of stabilization of the situation with the incidence of coronavirus. In turn, on Tuesday, the Canadian dollar was positively affected by national macroeconomic statistics. Thus, the Ivey business activity index for June rose from 39.1 to 58.2 points against the forecast of a decrease to 25.1 points.

Investors wait for Friday when Canada will publish its June labor market report. It is expected that the employment rate will rise by approximately 700K. The unemployment rate may fall from 13.7% to 12%.

Support and resistance

On the daily chart, Bollinger bands are moving flat. The price range has not practically changed for a long time, indicating the ambiguous nature of trading in the short term. The MACD indicator is growing, maintaining a relatively strong buy signal (the histogram is above the signal line). Stochastic is growing more confidently and is currently located approximately in the center of its work area.

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

Resistance levels: 1.3650, 1.3700, 1.3800.

Support levels: 1.3571, 1.3518, 1.3484, 1.3400.

Trading tips

Long positions may be opened after the breakout of the level of 1.3650 with the target at 1.3800. Stop loss – 1.3571.

Short positions may be opened after the breakdown of the level of 1.3571 with the target at 1.3400. Stop loss – 1.3650.

Implementation period: 2–3 days.

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 USD/CAD and trade efficiently with NPBFX.