NPBFX - making money with us since 1996!

[Antony_NPBFX]

AUD/USD: Australian dollar is strengthening 05.06.2020

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 showing moderate growth against USD during the Asian session on Friday, again preparing to test the important resistance at 0.7000. The instrument adds about 0.40%, receiving support from the publication of rather optimistic macroeconomic statistics from Australia. AiG Performance of Services Index grew from 27.1 to 31.6 points, which turned out to be better than the average market expectations.

Today investors are focused on the publication of the May report on the US labor market. However, given that the report will cover the period only until mid-May, the market has already received the most relevant data on the number of the unemployed yesterday. The situation in the American labor market remains difficult, although it shows weak hints of recovery.

Support and resistance

Bollinger Bands in D1 chart show active growth. The price range expands, freeing a path to new local highs for the “bulls”. MACD indicator is growing preserving a stable buy signal (located well above the signal line). Stochastic, having reached its high, reversed into a horizontal plane, signaling in favor of the development of a correctional decline in the ultra-short term.

One should keep existing long positions in the short and/or ultra-short term. It is worthwhile to postpone opening new purchases now.

Resistance levels: 0.7000, 0.7031, 0.7081.

Support levels: 0.6955, 0.6900, 0.6856, 0.6812.

Trading tips

To open long positions, one can rely on the breakout of 0.7000. Take-profit – 0.7081–0.7100. Stop-loss – 0.6940. Implementation time: 1-2 days.

A rebound from 0.7000 as from resistance, followed by a breakdown of 0.6955 may become a signal for new sales with the targets at 0.6856–0.6812. Stop-loss – 0.7031. Implementation time: 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 AUD/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

USD/CHF: general review 08.06.2020

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 grows, continuing the “bullish” momentum after a slight correctional decline yesterday, which allowed the instrument to test the level of 0.9650.

On Friday, USD was supported by US unemployment data, which was better than forecasted. It fell to 13.3% against the expectation of a jump to 20%. Nonfarm Payrolls rose by 2.509M against a decrease of 8M expected. So, the US unemployment peak was in April, not in May, as it was predicted, which is extremely positive news for the US economy.

Meanwhile, CHF fell due to the forecast of the Swiss bank UBS, which said that this summer, about 85K apartments will be vacant. The share of real estate without residents will reach 1.9%, which is a new negative record, due to the economic crisis caused by the COVID-19 pandemic, which caused massive job losses, resulted in a decrease in the number of tenants. 63.2% of Swiss residents rent housing, and the country occupies the third place in Europe in the number of tenants.

Support and resistance

On the 4-hour chart, Bollinger Bands consolidated within a wide range, which allows high trading activity in the short term. MACD grows, forming bars above zero and giving a buy signal. Stochastic fell after reaching 80% but is going to reverse upwards, signaling for an uptrend development in the ultra-short term. Now, the local support and resistance levels are 0.9541 and 0.9651.

Resistance levels: 0.9638, 0.9651.

Support levels: 0.9607, 0.9572, 0.9541.

Trading tips

Long positions may be opened after the breakout of 0.9651 with the target at 0.9700. Stop loss – 0.9635.

Short positions may be opened after the breakdown of 0.9572 with the target at 0.9541. Stop loss – 0.9590.

Implementation period: 2–3 days.

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/CHF and trade efficiently with NPBFX.

 

[Antony_NPBFX]

EUR/USD: EUR remains under pressure 10.06.2020

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 insignificant growth against USD during today's Asian session, continuing the development of yet another “bullish” impulse formed yesterday. The instrument tests the level of 1.1350 for a breakout and returns to the previous three-month local highs, updated on June 5. Some support to EUR is provided by yesterday's macroeconomic statistics from the eurozone. According to updated data, eurozone GDP in Q1 2020 fell by 3.6% QoQ after the previous estimate of –3.8% QoQ. In annual terms, the eurozone economy lost 3.1% YoY, which is also slightly better than previous data of –3.2% YoY. Employment Change in Q1 2020 accelerated from +0.3% YoY to +0.4% YoY.

USD remains under pressure amid expectations of the publication of the Fed two-day meeting minutes, scheduled for today. In addition, on Wednesday, investors expect the release of May statistics on consumer inflation in the USA.

Support and resistance

Bollinger Bands in D1 chart show stable growth. The price range is slightly narrowed from below, being too spacious for the current activity level in the market. MACD indicator is growing preserving a weak buy signal (located above the signal line). Stochastic, after an unsuccessful attempt to downward correction, again reverses in the direction of growth.

Current indications do not contradict further growth of the instrument in the near future.

Resistance levels: 1.1382, 1.1447, 1.1500, 1.1547.

Support levels: 1.1284, 1.1200, 1.1153, 1.1100.

Trading tips

To open long positions, one can rely on the breakout of 1.1382. Take-profit – 1.1547. Stop-loss – 1.1300.

A rebound from 1.1382 as from resistance, followed by a breakdown of 1.1284 may become a signal for new sales with the targets at 1.1153–1.1100. Stop-loss – 1.1382.

Implementation time: 2-3 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 EUR/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

XAU/USD: gold prices are consolidating 12.06.2020

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 show flat dynamics during today’s morning session, consolidating near 1730.00. The day before, the instrument showed negative dynamics, retreating from its local highs since June 2 against the background of widespread strengthening of USD. Additional pressure on gold was exerted by the fact that the US regulator has at the moment abandoned the idea of negative interest rates, and is inclined to take a wait and see attitude, continuing only to increase the program of quantitative easing if necessary.

At the same time, the Fed’s economic indicators and forecasts indicate a rather difficult situation for the American economy, which supports the demand for gold. In addition, investors are worried about the possibility of a second wave of the COVID-19 epidemic, which could force countries to return some of the restrictions before the vaccine is found.

Support and resistance

Bollinger Bands in D1 chart demonstrate flat dynamics. The price range remains virtually unchanged, indicating an approximate balance of power in the short term. MACD indicator is growing preserving a weak buy signal (located above the signal line). Having approached the level of “80”, Stochastic reversed into the horizontal plane, reacting to the appearance of the downtrend as a result of Thursday’s trading.

Current readings of technical indicators remain uninformative for opening new trading positions.

Resistance levels: 1735.13, 1744.89, 1753.57, 1765.07.

Support levels: 1720.00, 1703.07, 1691.28, 1675.00.

Trading tips

To open long positions, one can rely on the rebound from the support level of 1720.00 with the subsequent breakout of 1735.13. Take-profit – 1753.57. Stop-loss – 1725.00. Implementation time: 2-3 days.

The breakdown of 1720.00 may serve as a signal to new sales with the target at 1703.07. Stop-loss – 1730.00. Implementation time: 1-2 days.

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]

EUR/USD: EUR is corrected 15.06.2020

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 moderate growth against USD during today’s Asian session, retreating from local lows updated at the end of last trading week, marked by a two-day decline in EUR quotes. The instrument is testing the level of 1.2560 for a breakout. EUR is supported by technical factors, as well as the publication of good macroeconomic statistics from China, which, however, turned out worse than its forecasts. Industrial Production in China in May showed an increase of 4.4% YoY after an increase of 3.9% YoY in April. Analysts expected an increase of 5% YoY. Retail Sales for the same period decreased by 2.8% YoY after falling by 7.5% YoY in April. Market forecasts suggested a decline of 2% YoY.

In general, in the current situation, the position of EUR looks very promising. Experts believe that in the near future, EUR will make an attempt to grow to its March highs at 1.1500.

Support and resistance

Bollinger Bands in D1 chart show stable growth. The price range is narrowing, reflecting the emergence of ambiguous dynamics of trading in the short term. MACD reversed downwards having formed a sell signal (located below the signal line). Stochastic keeps a confident downtrend but is located near its lows, which indicates the growing risks of oversold EUR in the ultra-short term.

Resistance levels: 1.1284, 1.1340, 1.1421, 1.1500.

Support levels: 1.1200, 1.1153, 1.1100, 1.1054.

Trading tips

To open long positions, one can rely on the rebound from the support level of 1.1200 with the subsequent breakout of 1.1284. Take-profit – 1.1421. Stop-loss – 1.1200.

The breakdown of 1.1200 may serve as a signal to new sales with the targets at 1.1100–1.1054. Stop-loss – 1.1284.

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.

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/CHF: the pair is consolidating 17.06.2020

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 trading in different directions, being near the level of 0.9500. On Tuesday, USD moderately grew, supported by the US macroeconomic statistics and the speech of the head of the US Federal Reserve Jerome Powell. Presenting a report to Congress, Powell noted that the US economy may have reached its bottom and is on the path to a relatively sustainable recovery, as evidenced by recent macroeconomic publications.

On Wednesday, investors are focused on the US statistics on the dynamics of the housing market for May. Also, Powell will continue to report to Congress today, and Loretta Meister, a member of the US Federal Open Market Committee, will also speak. On Thursday, the Swiss regulator will keep at an interest rate meeting. It is predicted that the rate will remain at the level of –0.75%.

Support and resistance

On the daily chart, Bollinger Bands actively decline. The price range narrows in response to the emergence of flat trading dynamics in the short term. MACD grows, maintaining a poor buy signal (the histogram is above the signal line). Stochastic grows more confident and rapidly approaches the level of 80, indicating that USD may become overbought in the ultra-short term.

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

Resistance levels: 0.9540, 0.9572, 0.9600, 0.9637.

Support levels: 0.9500, 0.9462, 0.9400.

Trading tips

Long positions may be opened after the breakout of 0.9540 with the target at 0.9600. Stop loss – 0.9500.

Short positions may be opened after the breakdown of 0.9462 with the target at 0.9400. Stop loss – 0.9500.

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/CHF and trade efficiently with NPBFX.

 

[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.

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

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.

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

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

 

[Antony_NPBFX]

EUR/USD: wave analysis 22.06.2020

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.

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.

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]

NZD/USD: wave analysis 24.06.2020

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.

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.

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 NZD/USD and trade efficiently with NPBFX.

 

[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.

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/CAD and trade efficiently with NPBFX.

 

[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.

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 USD/CHF and trade efficiently with NPBFX.

 

[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.

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]

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.

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 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.

 

[Antony_NPBFX]

GBP/USD: the pound is consolidating 10.07.2020

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

Today, during the Asian session, the GBP/USD pair is falling.

The instrument departs from its local highs, renewed yesterday, under the pressure of technical factors, while the overall picture on the market does not change significantly. The pound is still supported by rumors of notable progress on the trade agreement between the UK and the EU. Also, investors responded positively to the Treasury Secretary’s plan to further support the British economy, presented on Wednesday. The dollar, in turn, is supported as a shelter asset since the latest statistics on the dynamics of the incidence of coronavirus in the US and the world cause more and more anxiety and fear.

Support and resistance

On the daily chart, Bollinger bands reverse in the horizontal plane. The price range is slightly expanding from above, letting the “bulls” renew local highs. The MACD indicator is growing, maintaining a poor buy signal (the histogram is above the signal line). Stochastic is showing a reversal downwards, signaling in favor of the development of corrective decline in the ultra-short term.

An appearance of a “bearish” dynamics is possible in the short and/or ultra-short term.

Resistance levels: 1.2617, 1.2668, 1.2730, 1.2812.

Support levels: 1.2541, 1.2500, 1.2400, 1.2334.

Trading tips

Long positions may be opened after a rebound from 1.2541 and a breakout of 1.2600 with the target at 1.2730. Stop loss – 1.2541.

Short positions may be opened after the breakdown of the level of 1.2541 with the target at 1.2400. Stop loss – 1.2617.

Implementation period: 2–3 days.

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 GBP/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

AUD/USD: AUD is recovering 13.07.2020

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 showing insignificant growth against USD during today's Asian session, recovering from a "bearish" end of trading last week. Investors are buying AUD amid taking a short profit on the instrument, while fundamentally the picture is changing little.

Moderate support for the pair is provided by the gradual recovery of the global economy; however, alarming data indicating a sharp increase in the incidence of coronavirus inhibit the growth of "bullish" sentiment. USD, however, also does not receive significant support from the deterioration of the epidemiological situation in the world. Interesting macroeconomic statistics from Australia will appear on Tuesday, when the data from the National Bank of Australia on business sentiment in June will be published.

Support and resistance

In the D1 chart, Bollinger Bands are reversing horizontally. The price range expands from above, freeing a path to new local highs for the "bulls". MACD has reversed upwards preserving a sell signal (located below the signal line). Stochastic is showing similar dynamics preserving fairly stable downward direction.

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

Resistance levels: 0.7000, 0.7060, 0.7100.

Support levels: 0.6955, 0.6900, 0.6839, 0.6800.

Trading tips

To open long positions, one can rely on the breakout of 0.7000. Take-profit – 0.7060–0.7100. Stop-loss – 0.6955.

A rebound from 0.7000 as from resistance, followed by a breakdown of 0.6955 may become a signal for new sales with the target at 0.6900. Stop-loss – 0.7000.

Implementation time: 2-3 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 AUD/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

EUR/USD: the euro consolidates 15.07.2020

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

Today, during the Asian session, the EUR/USD pair shows ambiguous dynamics. Now, the euro is trying to consolidate above 1.1400, although at the opening of trading, the instrument renewed its local highs of June 10, touching the level of 1.1422. EUR’s technical factors for growth stays relatively strong, while increasing market tension in response to the confrontation between the US and China, as well as the rapid growth of new cases of COVID-19 infection, significantly inhibit investor interest in risk.

Tuesday’s macroeconomic statistics from Europe was ambiguous. May industrial production increased by 12.4% MoM after a decrease of 18.2% MoM for the previous month. Analysts had expected an increase of 15% MoM. The index of moods in the business environment of Germany from the ZEW Institute for July fell from 63.4 to 59.3 points, which was worse than forecasts of 60 points.

Support and resistance

On the daily chart, Bollinger bands actively grow. The price range expands from above but not as fast as the "bullish" moods develop. The MACD indicator is growing, maintaining a strong buy signal (the histogram is above the signal line). Stochastic maintains a confident upward trend but quickly approaches the level of 100, which indicates that EUR may become overbought in the short-term.

It is better to keep the current long positions until signals from technical indicators are clarified.

Resistance levels: 1.1422, 1.1460, 1.1500.

Support levels: 1.1373, 1.1340, 1.1284, 1.1200.

Trading tips

Long positions may be opened after the breakout of 1.1422 with the target at 1.1500. Stop loss – 1.1373.

Short positions may be opened after a rebound from 1.1422 and a breakdown of 1.1373 with the target at 1.1284. Stop loss – 1.1422.

Implementation period: 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.

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]

XAU/USD: gold prices are corrected 17.07.2020

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 show ambiguous trading during today's morning session, having shown a moderate decline in trading yesterday. The instrument is trying to consolidate below the key level of 1800.00 again; however, the demand for gold remains quite high. The instrument is supported by an uncertain market situation related to the aggravation of geopolitical risks and the further worsening of the epidemiological situation in the world. The United States and China again exchange mutual sanctions, and this threatens with crossing out all the progress made earlier in the framework of the trade agreement. While global regulators are taking a wait and see attitude, new measures to support the economy today seem quite reasonable, which also increases the attractiveness of gold among investors.

Support and resistance

In the D1 chart, Bollinger Bands are reversing horizontally. The price range is almost unchanged, but it remains rather spacious for the current level of activity in the market. MACD is declining keeping a weak sell signal (located below the signal line). Stochastic shows a slightly more confident decline, signaling in favor of the development of the correctional trend in the ultra-short term.

The appearance of a full-fledged downtrend is possible in the short and/or ultra-short term.

Resistance levels: 1808.71, 1817.85, 1830.00.

Support levels: 1794.67, 1779.09, 1765.07, 1753.57.

Trading tips

To open long positions, one can rely on the rebound from the support level of 1794.67 with the subsequent breakout of 1808.71. Take-profit – 1830.00. Stop-loss – 1794.67.

The breakdown of 1794.67 may serve as a signal to new sales with the target at 1765.07. Stop-loss – 1808.71.

Implementation time: 2-3 days.

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]

USD/CAD: dollar is correcting 20.07.2020

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 is growing slightly, approaching the resistance level around 1.3600. The positive dynamics of the instrument are largely due to technical factors, while there are still few fundamental reasons for the strengthening of USD.

US macroeconomic statistics published late last week were ambiguous. Investors were pleased with the data on the dynamics of June Housing Starts, which rose by an impressive 17.3% MoM after an increase of 8.2% MoM for May. At the same time, the rate of change in the Building Permits for the same period dropped sharply from +14.1% MoM to +2.1% MoM. Canadian data showed an increase in wholesale sales for May by 5.7% MoM after a record drop of 21.4% MoM for April. Analysts had expected an increase of 8.5% MoM.

Support and resistance

On the daily chart, Bollinger bands are moving sideways. The price range consolidated within rather narrow boundaries, reflecting the ambiguous nature of trading in the short term. The MACD indicator is growing, maintaining a poor buy signal (the histogram is above the signal line). Stochastic also reversed upwards after a short decline, reacting to the “bullish” end of last week's trading.

A full-fledged uptrend development is possible in the short and/or super short term.

Resistance levels: 1.3600, 1.3650, 1.3700.

Support levels: 1.3535, 1.3484, 1.3440, 1.3400.

Trading tips

Long positions may be opened after the breakout of 1.3600 with the target at 1.3700. Stop loss – 1.3550.
Short positions may be opened after a rebound from 1.3600 and a breakdown of 1.3535 with the target at 1.3440. Stop loss – 1.3590.
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/CAD and trade efficiently with NPBFX.