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[Antony_NPBFX]

XAU/USD: gold prices are going down 26.08.2020

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 showing a slight decline in trading in today's Asian session, still responding to some improvement in market sentiment. In particular, investors are in no hurry to return to long positions in the instrument amid progress in the development of a vaccine against the coronavirus. In addition, support for risky assets was provided by the phone talks between the USA and China, during which the results of fulfilling obligations under the first phase of the trade agreement signed at the beginning of the year were discussed.

Investors are also looking forward to tomorrow's speech by US Federal Reserve Chairman Jerome Powell. Markets hope that the official will bring some clarity to the prospects of the regulator's monetary policy and talk about new measures to support the economy, the need for which has been repeatedly mentioned in the latest published minutes of the Fed.

Support and resistance

Bollinger Bands in D1 chart demonstrate active decrease. The price range is narrowing, pointing at the ambiguous nature of trading in the short term. MACD is going down keeping a fairly stable sell signal (located below the signal line). Stochastic shows a similar trend, but falls below the level of "20", indicating the risks of the oversold instrument in the ultra-short term.

One should keep existing short positions and open new ones until technical indicators are clarified.

Resistance levels: 1935.00, 1955.00, 1980.84, 2000.00.

Support levels: 1910.00, 1895.06, 1876.23, 1850.00.

Trading tips

To open long positions, one can rely on the rebound from the support level of 1910.00, with the subsequent breakout of 1935.00. Take-profit – 1980.84. Stop-loss – 1910.00.

The breakdown of 1910.00 may serve as a signal to new sales with the target at 1850.00. Stop-loss – 1935.00.

Implementation time: 2-3 days.

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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 XAU/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

EUR/USD: EUR is recovering 28.08.2020

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 is strengthening against USD during today's Asian session, recovering from the active multidirectional dynamics on Thursday, which were the result of the reaction to the speech of the Fed Chairman Jerome Powell and the publication of macroeconomic statistics from the US. Powell's speech supported USD for a while, as the markets saw the long-awaited changes in monetary policy: now the Fed does not limit inflation to a strict threshold of 2%, but will allow prices to stay above this level for some time so that the American economy could recover after the crisis.

Additional support for USD was provided by the updated data on the dynamics of US GDP for Q2 2020. According to new estimates, the indicator dropped by 31.7% YoY, which was better than the market's expectations at –32.5% YoY.

Support and resistance

Bollinger Bands in D1 chart demonstrate flat dynamics. The price range is narrowing from below, reflecting the emergence of ambiguous dynamics of trading in the short term. MACD is gradually reversing upwards keeping a previous sell signal (located below the signal line). Stochastic is demonstrating a more confident uptrend, signaling in favor of the development of an ultra-short-term "bullish" trend for EUR.

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

Resistance levels: 1.1850, 1.1914, 1.1964, 1.2000.
Support levels: 1.1780, 1.1700, 1.1657, 1.1600.

Trading tips

To open long positions, one can rely on the breakout of 1.1914. Take-profit – 1.2000. Stop-loss – 1.1860.

A rebound from 1.1914 as from resistance followed by a breakdown of 1.1880 may become a signal for new sales with the target at 1.1780. Stop-loss – 1.1930.

Implementation time: 2-3 days.

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.

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

 

[Antony_NPBFX]

USD/JPY: the pair is trading in both directions 31.08.2020

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

The US dollar is actively growing against the Japanese yen today, compensating for the sharp drop at the end of last week. Then the yen showed active growth and retreated from two-week lows in response to the resignation of Japanese Prime Minister Shinzo Abe, who decided to leave the post due to deteriorating health. The demand for the Japanese currency rose markedly, as analysts suggested the beginning of a possible repatriation of capital due to the sharply increased political uncertainty.

This week, the yen is pressured by the ambiguous macroeconomic statistics. Retail sales in July decreased by 3.3% MoM and 2.8% YoY, which turned out to be significantly worse than the market forecasts of +8% MoM and +2.4% YoY. Industrial output contracted by 16.1% YoY in July after falling by 18.2% YoY last month. MoM, the indicator rose by 8%, sharply accelerating from the previous value of +1.9%.

Support and resistance

Bollinger Bands in the D1 chart demonstrate a gradual decrease. The price range is narrowing from above, reflecting a sharp change of trend in the short term. MACD is going down having formed a weak sell signal (histogram is located under the signal line). Stochastic is declining more actively and is currently rapidly approaching its minima.

The current showings of the indicators do not contradict the further development of the downtrend in the short and/or ultra-short term.

Resistance levels: 105.67, 106.00, 106.46, 106.79.

Support levels: 105.29, 105.00, 104.50, 104.17.

Trading tips

To open long positions, one can rely on the breakout of 105.67. Take profit – 106.30. Stop-loss – 105.35.

A confident breakdown of 105.29 may serve as a signal to further sales with the target at 104.70. Stop-loss – 105.67.

Implementation period: 2-3 days.

Use more opportunities of the NPBFX analytical portal: economic indicators

Regular monitoring of global economic indicators plays an important role in trading, because of their strong influence on FOREX market and possibility to provoke significant price fluctuations. For the convenience of traders the "Education" section on the NPBFX portal contains the most popular and significant world economic indices with a detailed description, their possible impact on the economy and exchange rates (GDP, consumer price index, unemployment rate, Nonfarm Payrolls (NFP), etc.).

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: EUR is corrected 02.09.2020

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 is trading in both directions against USD during today's Asian session, consolidating at 1.1900. EUR retreated from its record highs since May 2018 and the important psychological level of 1.2000, responding to the emergence of not the most confident macroeconomic statistics from Europe yesterday. Core Consumer Price Index in the euro zone slowed down in August from 1.2% YoY to 0.4% YoY, which turned out to be noticeably worse than market expectations at 0.9% YoY. Consumer Price Index for the same period fell by 0.2% YoY, while investors expected its growth by 0.2% YoY. Unemployment Rate in the euro area in July rose from 7.7% to 7.9%, which was only 0.1% better than the forecasts.

In turn, USD received some support after the publication of statistics from the US on business activity from ISM. Today, traders are focused on the US ADP report on Employment Change in August, as well as the monthly economic review, the Fed's Beige Book.

Support and resistance

In the D1 chart, Bollinger Bands are reversing horizontally. The price range expands slightly from above, indicating that "bullish" momentum may persist in the short term. MACD is reversing downwards forming a new sell signal (trying to consolidate below the signal line). Stochastic demonstrates similar dynamics, reversing downwards at the level of "80".

Resistance levels: 1.1914, 1.1964, 1.2000.

Support levels: 1.1881, 1.1850, 1.1780, 1.1700.

Trading tips

To open long positions, one can rely on the rebound from the support level of 1.1881, with the subsequent breakout of 1.1914. Take-profit – 1.2000. Stop-loss – 1.1870.

The breakdown of 1.1881 may serve as a signal to new sales with the target at 1.1820. Stop-loss – 1.1914.

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]

Brent Crude Oil: oil prices decline 04.09.2020

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

Today during the Asian session, oil prices are showing ambiguous dynamics, consolidating near the level of 43.00. Yesterday, the instrument renewed local lows since the beginning of August, responding to the appearance of poor macroeconomic statistics, which reflected the slow pace of recovery of the world economy after the coronavirus epidemic. Also, the market fears a further decline in demand for oil and gasoline amid current restrictions on international flights and the closure of several US refineries for maintenance.

The report from the US Department of Energy, published on Wednesday, significantly supported the “bullish” sentiment. For the week of August 28, oil reserves fell sharply by 9.362 million barrels after falling by 4.689 million barrels in the previous period. Analysts had expected a decrease of only 1.887 million barrels.

Support and resistance

On the daily chart, Bollinger bands are moving flat. The price range is slightly expanding but not as fast as the “bearish” dynamics develop. The MACD indicator is going down, maintaining a poor sell signal (the histogram is below the signal line), and is trying to consolidate below the zero line. Stochastic maintains a confident downward trend but is rapidly approaching its lows, which indicates that the instrument is oversold in the ultra-short term.

It is better to keep the current short positions in the nearest time intervals.

Resistance levels: 43.49, 43.90, 44.51, 45.00.

Support levels: 43.00, 42.76, 42.32, 42.00.

Trading tips

Long positions may be opened after a rebound from 43.00 and the breakout of 43.49 with the target at 44.51. Stop loss – 43.00.

Short positions may be opened after the breakdown of 43.00 with the targets at 42.32–42.00. Stop loss – 43.49.

Implementation period: 2–3 days.

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Use the current recommendations of analysts on Brent Crude Oil and trade efficiently with NPBFX.

 

[Antony_NPBFX]

GBP/USD: the pound is declining 07.09.2020

Good afternoon, dear forum visitors!

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

Current trend

GBP is trading near zero against USD during today's morning session, consolidating after the active end of last week. The instrument was declining, but managed to fix a slight increase on Friday, when the market received conflicting statistics from the US.

Uncertainty around the conclusion of a trade deal between London and Brussels after Brexit continues to exert pressure on GBP. Despite the positive comments that European and British officials shared earlier, there has been no significant progress on the deal so far. However, Prime Minister Boris Johnson is still trying to remain optimistic, noting that whatever the outcome of the negotiations, close trade ties between the UK and the EU will undoubtedly be preserved.

Support and resistance

In the D1 chart, Bollinger Bands are reversing horizontally. The price range is slightly narrowing, reflecting the ambiguous dynamics of trading in the short term. MACD is going down keeping a fairly stable sell signal (located below the signal line). Stochastic is showing similar dynamics; however, it is rapidly approaching its lows, reflecting the risks associated with the oversold GBP 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: 1.3266, 1.3300, 1.3350, 1.3400.

Support levels: 1.3200, 1.3147, 1.3100, 1.3052.

Trading tips

To open long positions, one can rely on the breakout of 1.3266. Take-profit – 1.3350. Stop-loss – 1.3215.

The breakdown of 1.3200 may serve as a signal for new sales with the target at 1.3100. Stop-loss – 1.3250.

Implementation time: 2-3 days.

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

 

[Antony_NPBFX]

AUD/USD: ambiguous trading 09.09.2020

Good afternoon, dear forum visitors!

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

Current trend

AUD is trading in both directions against USD in today's morning session, consolidating near new local lows since August 26. The instrument's positions were supported on Wednesday by good macroeconomic statistics from Australia, while the pair is still under pressure amid attempts of USD to recover. In addition, AUD reacts negatively to the increased prospects for the introduction of negative interest rates after the controversial statements from the RBA last weekend. The Westpac Consumer Confidence index in Australia in September rose by 18% after falling by 9.5% in August. The volume of Home Loans in July also increased significantly by 10.7% MoM after increasing by 7.7% MoM in the last month. Analysts expected the indicator to slow down to +3.1% MoM..

Support and resistance

Bollinger Bands in D1 chart show moderate growth. The price range is narrowing, pointing at the flat nature of trading in the short term. MACD is declining keeping a weak sell signal (located below the signal line). Stochastic while approaching its lows is prone to a reversal into a horizontal plane, signaling risks of oversold AUD in the ultra-short term.

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

Resistance levels: 0.7250, 0.7274, 0.7300, 0.7336.
Support levels: 0.7200, 0.7150, 0.7130, 0.7100.

Trading tips

To open long positions, one can rely on the breakout of 0.7250. Take-profit – 0.7300. Stop-loss – 0.7220.

The breakdown of 0.7200 may serve as a signal for new sales with the targets at 0.7150–0.7130. Stop-loss – 0.7235.

Implementation time: 2-3 days.

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[Antony_NPBFX]

Brent Crude Oil: prices consolidate

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

Today, during the Asian session, oil prices show an ambiguous dynamic, consolidating near the level of $40. Yesterday, the instrument returned to decline after a short corrective growth on Wednesday, responding to the publication of statistics on oil and oil products reserves. According to a report from the US Department of Energy, the figure for the week of September 4 unexpectedly rose by 2.032M barrels after falling by 9.362M barrels in the previous period. Analysts had expected negative dynamics to remain at –1.335M barrels. The volume of oil production in the US rose to 10M barrels per day against 9.7M barrels per day in the previous reporting week. At the same time, the Ministry of Energy also lowered its own forecast for oil demand in 2020 to 8.32M barrels per day.

On Friday, also to publications on US consumer inflation, investors wait for the release of Baker Hughes' report on active oil platforms.

Support and resistance

On the daily chart, Bollinger Bands moderately decline. The price range actively expands from below, letting the “bears” renew local lows. MACD falls, maintaining a relatively strong sell signal (the histogram is below the signal line). Stochastic has been near its lows for a long time, signaling that the instrument is oversold in the super short term.

It is better to wait until the situation on the market becomes clear to open new trading positions.

Resistance levels: 40.00, 40.89, 41.50, 42.32.
Support levels: 39.00, 38.50, 38.00.

Trading tips

Long positions may be opened after the breakout of 40.89 with the target at 42.32. Stop loss – 40.00. Implementation period: 2–3 days.

Short positions may be opened after the breakdown of 39.00 with the target at 38.00. Stop loss – 39.60. Implementation period: 1–2 days.

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

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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.

 

[Antony_NPBFX]

USD/JPY: flat dynamics 14.09.2020

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

USD is trading in different directions against JPY in today's Asian session, developing a flat channel that formed at the beginning of the month. The ambiguous macroeconomic statistics from the US on the dynamics of consumer inflation, published at the end of last week, did not provide significant support to USD, while JPY was expecting the publication of new drivers.

Today's macroeconomic statistics from Japan provide moderate support to JPY, as a result of which the pair is actively testing the level of 106.00 for a breakdown. Industrial production in July increased by 8.7% MoM, accelerating from the previous value of +8% MoM. In annual terms, the pace of production decreased by 15.5% YoY, which was slightly better than forecasts of –16.1% YoY. Capacity Utilization rose by 9.6% in July, after rising by 6.2% in June.

Support and resistance

Bollinger Bands in D1 chart demonstrate steady flat dynamics. The price range remains virtually unchanged, indicating an approximate balance of power in the short term. The MACD indicator, which has not consolidated above the zero level, reverses downwards again, forming a sell signal (the histogram is below the signal line). Stochastic is showing unsteady dynamics and is located in the middle of its area.

One should wait for clarification of the situation at the market, as the current indicators remain uninformative.

Resistance levels: 106.20, 106.50, 106.79, 107.00.
Support levels: 106.00, 105.67, 105.29, 105.00.

Trading tips

Short positions can be opened from the current levels with the nearest take-profit of 105.67. Stop-loss – 106.25.

To open long positions, one can rely on the rebound from the support level of 106.00 with the subsequent breakout of 106.20. Take-profit – 106.50. Stop-loss – 106.00.

Implementation time: 1-2 days.

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 USD/JPY and trade efficiently with NPBFX.

 

[Antony_NPBFX]

EUR/USD: ambiguous dynamics 16.09.2020

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 is trading near zero against USD during today's Asian session, hovering at 1.1850. The day before, EUR managed to demonstrate moderate growth against USD and even updated local highs since September 10, but the "bulls" failed to consolidated at new levels (at 1.1900). The instrument was supported moderately by the data from Germany, released on Tuesday. ZEW Economic Sentiment in September rose from 71.5 to 77.4 points, which turned out to be better than the negative forecasts, which assumed a decrease in the indicator to 69.8 points. In the euro area, ZEW Survey showed a moderate increase in Economic Sentiment in September from 64 to 73.9 points, which also exceeded the projected 62.8 points.

Today, investors are focused on the publication of the final minutes of the two-day Fed meeting on the interest rate. In addition, traders are awaiting the release of the August statistics on the dynamics of retail sales in the United States.

Support and resistance

Bollinger Bands in D1 chart demonstrate flat dynamics. The price range is almost unchanged, but it remains rather spacious for the current level of activity in the market. MACD indicator is growing preserving a weak buy signal (located above the signal line). Stochastic interrupted active growth and is inclined to reverse downwards, reacting to the "bearish" dynamics of Tuesday.

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

Resistance levels: 1.1860, 1.1881, 1.1916, 1.1964.
Support levels: 1.1808, 1.1780, 1.1751, 1.1700.

Trading tips

To open long positions, one can rely on the breakout of 1.1860. Take-profit – 1.1916. Stop-loss – 1.1830.

The breakdown of 1.1808 may serve as a signal to new sales with the target at 1.1751. Stop-loss – 1.1840.

Implementation time: 1-2 days.

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 EUR/USD and trade efficiently with NPBFX.