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[Antony_NPBFX]

Brent Crude Oil: prices are recovering 14.12.2020

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 upward dynamics, trying to consolidate above the psychological level of $50 per barrel. The instrument dropped slightly at the end of the last trading week, however, it was caused by technical factors.

The quotes are strongly supported by optimism regarding vaccines against COVID-19. Last weekend, it became known that the US Food and Drug Administration (FDA) noted the advantage of the vaccine from Pfizer and approved its use for the population over 16 years old. A vaccination campaign is expected to start soon in the US, which will strengthen the market's confidence that the next year can be survived without new lockdowns.

Meanwhile, Baker Hughes' report on active oil platforms in the US, released on Friday, again reflected a solid increase from 246 to 258 units.

Support and resistance

On the daily chart, Bollinger Bands reverse into a horizontal plane. The price range is expanding from above but not as fast as the “bullish” dynamics develop. The MACD indicator is growing, maintaining a poor buy signal (the histogram is above the signal line). Stochastic, without reaching the overbought area, reversed into a horizontal plane near the level of 80, indicating the ambiguous nature of the last days' trading.

The current readings of technical indicators do not contradict the further development of upward dynamics.

Resistance levels: 51.07, 52.00, 53.00.
Support levels: 50.00, 49.07, 48.40, 47.50..

Trading tips

Long positions may be opened after the breakout of 51.07 with the target at 53.00. Stop loss – 50.00. Implementation period: 2–3 days.

Short positions may be opened after the breakdown of 49.07 with the target at 47.50. Stop loss – 50.00.

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]

EUR/USD: euro is near record highs 16.12.2020

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 is growing slightly, gradually returning to the previous record highs around 1.2174.

USD weakens amid optimism about COVID-19 vaccinations, actively starting around the world. The process may begin in the US soon, as the Food and Drug Administration (FDA) recently approved the use of Pfizer and BioNTech vaccines. Yesterday, it became known that the FDA is preparing to publish the results of the third phase of clinical trials of the vaccine from Moderna, which can also be interpreted as the first step towards its approval for emergency use in the country. Meanwhile, the epidemiological situation in the US remains difficult. Earlier, the mayor of New York expressed the idea of returning the city to a full-fledged quarantine in response to a sharp increase in the case number.

On Wednesday, European investors are focused on the block of macroeconomic statistics on business activity in Germany and the EU. Analysts predict the data to be poor, so there is no expectation of noticeable growth in the single currency.

Support and resistance

On the daily chart, Bollinger bands actively grow. The price range narrows, indicating the emergence of flat dynamics in the short term. MACD grows but keeps a sell signal (the histogram is below the signal line). Stochastic grows but rapidly approaches its highs, indicating that EUR may become overbought in the ultra-short term.

Resistance levels: 1.2200, 1.2243, 1.2270, 1.2300.
Support levels: 1.2150, 1.2087, 1.2039, 1.2000.

Trading tips

Long positions may be opened after the breakout of 1.2200 with the target at 1.2300. Stop loss – 1.2150. Implementation period: 2–3 days.

Short positions may be opened after the breakdown of 1.2087 with the target at 1.2000. Stop loss – 1.2150.

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 EUR/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

USD/JPY: dollar is correcting 18.12.2020

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 grows confidently, recovering from the record lows, renewed yesterday.

Also to technical factors supporting the dollar at the end of the week, the Food and Drugs Administration's readiness to approve Moderna's COVID-19 vaccine affects it positively. However, US macroeconomic statistics often come out worse than market forecasts, and it puts additional pressure on USD. So, yesterday, investors negatively met an increase in Initial Jobless Claims, as well as a sharp drop in the dynamics of Retail Sales. For November, the indicator fell by 1.1% MoM after falling by 0.1% MoM last month. Investors expected negative dynamics at the level of –0.3% MoM.

The Japanese yen, in turn, is under moderate pressure after the meeting of the Bank of Japan on Friday. As expected, the Japanese regulator did not change the monetary policy parameters but extended the terms of its program for the buyback of commercial paper by six months until September 2021.

Support and resistance

On the daily chart, Bollinger bands actively decline. The price range widens from the bottom, reflecting continued “bearish” potential in the short term. MACD reversed towards growth but keeps its sell signal (the histogram is below the signal line). Stochastic shows similar dynamics, retreating from its lows and signaling in favor of the development of corrective growth in the ultra-short term.

Resistance levels: 103.64, 103.90, 104.20, 104.50.
Support levels: 103.35, 103.00, 102.80.

Trading tips

Long positions may be opened after the breakout of 103.64 with the target at 104.20. Stop loss – 103.35. Implementation period: 2–3 days.

Short positions may be opened after the rebound from 103.64 and the breakdown of 103.35 with the target at 102.80. Stop loss – 103.64.

Use more opportunities of the NPBFX analytical portal: E-book

If you just recently started to be interested in trading on FOREX and would like to deepen your knowledge, an electronic Beginner's Guide to FOREX Trading will be an excellent helper for you here. The book consists of 5 chapters and reflects fundamental concepts of the foreign exchange market to start successful trading. From the main chapters of the E-book you can learn about the concepts and history of FOREX, currencies and trend lines, technical indicators, types of orders, trading on news, psychology of trading, risk management and much more.

You can read a Beginner's guide to FOREX Trading online or download it free of charge from the NPBFX analytical portal in the "Education" section. In order to get unlimited access to the E-book and other useful instruments on the portal, you need to register on the NPBFX website.

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

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

 

[Antony_NPBFX]

USD/CAD: the pair actively grows 21.12.2020

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

The USD/CAD pair actively grows, trading at the level of 1.2840.

Since the opening of the trading session, USD has maintained a positive impulse formed on Friday and is winning back losses against CAD. Experts say that one of the main reasons for the positive dynamics is the noticeable progress in negotiations on the budget and additional financial incentives for $900 billion. Today, the negotiations will continue as usual, as Donald Trump signed a decree extending funding for another day.

CAD is trading at fairly stable levels. However, according to the latest data, the economic recovery may take longer than expected. It was announced during a press conference by the Governor of the Bank of Canada Tiff Macklem. The main reason is closed borders and increased purchase prices for imports. According to published statistics, Canada's fiscal balance stood at –216.62 billion Canadian dollars versus –198.11 billion in early fall, while the core retail sales index for October reached 0.0%, down from 1.0% for September.

Support and resistance

Locally, the price broke through the resistance line of the local downtrend and confidently consolidated above it. Technical indicators issued a new local buy signal. Fast EMAs on the Alligator indicator crossed the signal one upwards, and the AO oscillator histogram moved into the positive zone.

Resistance levels: 1.2870, 1.3090.
Support levels: 1.2770, 1.2690.

Trading tips

After growth or consolidation above the local resistance level at 1.2870, buy positions with the target at 1.3090 are relevant. Stop loss is 1.2800. Implementation period: 7 days or more.

After reversal and decline or consolidation below the local support at 1.2770, sell positions with the target at 1.2690 are relevant. Stop loss is 1.2800.

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]

GBP/USD: the pair is correcting 23.12.2020

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

The pair is showing a lateral trend, located at 1.3400.

Trading on the instrument is characterized by strong volatility amid the situation around Brexit. Despite the fact that the final deadline for agreeing a trade deal between the UK and the EU comes only on December 31, one can already say that the negotiations have failed. However, the parties made solid steps towards each other: London reduced the amount of the required compensation from 50% to 35%, and the EU increased its proposal from 12% to 25%.

Another factor influencing the volatility of the pair was the macroeconomic data from the UK and the US. The adjusted GDP of Great Britain in Q3 2020 reached 16.0% against the expected 15.5%, and the GDP of the USA in the same period amounted to 33.4%, which is better than the projected 33.1%. It is also worth noting the growth in the Total Business Investment in the UK by 9.4% against the forecast of 8.8%.

Support and resistance

The pair continues to trade within the local ascending channel, correcting upwards after a significant decline. Technical indicators are still in a state of global purchase. The fast EMAs on the Alligator indicator have crossed, and the AO oscillator histogram is trading in the positive zone.

Resistance levels: 1.3470, 1.3580.
Support levels: 1.3220, 1.2900.

Trading tips

If the asset reverses and continues growing and the price consolidates above the local resistance level of 1.3470, long positions will be relevant with target at 1.3580. Stop-loss – 1.3400. Implementation time: 7 days and more.

If the asset continues to decline and the price consolidates below the local support at 1.3220, short positions can be opened with the target at 1.2900. Stop-loss – 1.3300.

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 GBP/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

NZD/USD: return to the record highs 28.12.2020

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.

Current trend

NZD has shown moderate gains against USD in trading this morning session, again testing 0.7120 for a breakout. Amid extremely low volatility in the market driven by the Christmas and New Year holidays, the instrument is moderately supported by the continued optimism about coronavirus vaccines and the conclusion of a trade agreement between the UK and the EU.

USD is declining again in response to difficulties in aligning the US budget for 2021 and delays in approving a new fiscal stimulus package. According to the media, Donald Trump signed both bills, although he had sharply criticized the proposed package of measures before, demanding an increase in the coronavirus payments from USD 600 to 2,000 per person. Last week, the US Congress approved a relief package that includes the allocation of USD 900B in direct aid to people and businesses.

Support and resistance

Bollinger Bands in D1 chart show insignificant growth. The price range is narrowing from below, reflecting the ambiguous dynamics of trading in the short term. MACD is trying to resume growth keeping a previous sell signal (located below the signal line). Stochastic is showing similar dynamics; however, it is already approaching its highs, indicating the risks of overbought instrument in the ultra-short term.

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

Resistance levels: 0.7150, 0.7200, 0.7241.
Support levels: 0.7100, 0.7050, 0.7000, 0.6962.

Trading tips

To open long positions, one can rely on the breakout of 0.7150. Take-profit – 0.7241. Stop-loss – 0.7100. Implementation time: 2-3 days.

A rebound from 0.7150 as from resistance, followed by a breakdown of 0.7100 may become a signal for new sales with the target at 0.7000. Stop-loss – 0.7150.

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 NZD/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

EUR/USD: updating record highs 30.12.2020

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 rising against USD during today's Asian session, hitting record highs since April 2018. The instrument is supported by the increasing demand for risk at the end of the year amid the approval of a new financial aid package in the US. In addition, investors are pinning high hopes on allowing AstraZeneca's coronavirus vaccine to be available for sale in the UK, reasonably suggesting that increased market supply will help more citizens get vaccinated more quickly.

In turn, the trade deal between the EU and the UK, reached last week, provides moderate support to EUR.

Support and resistance

Bollinger Bands in D1 chart show moderate growth. The price range is slightly expanding from above, having difficulty keeping up with the development of the "bullish" trend in the short term. MACD has reversed to growth having formed a fairly certain buy signal (located above the signal line). Stochastic also demonstrates upward direction but is approaching its highs rapidly, which reflects risks of the overbought EUR in the ultra-short term.

Existing long positions should be kept until technical indicators are clarified.

Resistance levels: 1.2312, 1.2357, 1.2420.
Support levels: 1.2271, 1.2200, 1.2150, 1.2087.

Trading tips

To open long positions, one can rely on the breakout of 1.2312. Take-profit – 1.2420. Stop-loss – 1.2250. Implementation time: 1-2 days.

A rebound from 1.2312 as from resistance, followed by a breakdown of 1.2271 may become a signal for new sales with the targets at 1.2200–1.2150. Stop-loss – 1.2340.

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/JPY: the instrument consolidates 04.01.2021

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 slightly declining, testing the support level of 103.00 for a breakdown.

The US dollar is not expected to be in demand in the first hours of the new trading calendar year, reacting to the previous negative factors. At the end of December, the administration of the incumbent US President Donald Trump was able to agree on the details of a new financial support plan for the American economy, which is in a difficult situation due to a difficult epidemiological situation. USD is now facing a change of power but analysts say President-elect Joe Biden's initial course is unlikely to change much.

At the beginning of the week, JPY was slightly supported by positive national macroeconomic statistics. Thus, the Jibun Bank Manufacturing PMI rose from 49.7 to 50 points.

Support and resistance

On the daily chart, Bollinger bands moderately decline. The price range changes insignificantly, however, not as fast as the “bearish” dynamics develop in the short term. MACD falls, maintaining a relatively strong sell signal (the histogram is below the signal line). Stochastic falls, rapidly approaching the level of 20, which may indicate that USD may become oversold in the ultra-short term.

The current readings of technical indicators do not contradict the further USD decline in the next time intervals.

Resistance levels: 103.25, 103.39, 103.64, 103.90.
Support levels: 103.00, 102.80, 102.50.

Trading tips

Short positions may be opened after the breakdown of 103.00 with the target at 102.50. Stop loss – 103.25. Implementation period: 2–3 days.

Long positions may be opened after the rebound from 103.00 and the breakout of 103.25 with the target at 103.64. Stop loss – 103.00.

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 consolidating 06.01.2021

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 ambiguously against USD this morning session, consolidating near 1.2300. The instrument has already managed to renew record highs, but further advance of EUR is complicated by some deterioration of the epidemiological situation in Europe. Germany extended the partial quarantine until the end of January, and the British authorities decided to do a full lockdown due to the detection of a new strain of coronavirus, which, according to preliminary estimates, may be 70% more infectious.

Macroeconomic statistics from Europe released on Tuesday were controversial. Retail Sales in Germany in November grew by 1.9% MoM and 5.6% YoY, which turned out to be significantly better than expected, but still indicates a slowdown in domestic trading activity. The Unemployment Rate in the largest European economy in December remained at 6.1%, and the Unemployment Change fell by 37K, while forecasts assumed its growth by 10K.

Support and resistance

Bollinger Bands in D1 chart show moderate growth. The price range is slightly expanding from above but it fails to conform to the development of "bullish" sentiments at the moment. MACD indicator is growing preserving a weak buy signal (located above the signal line). After a short decline, Stochastic reversed upwards again, responding to the return of "bullish" activity at the beginning of the week.

Current showings of the indicators do not contradict the further development of the uptrend in the short term.

Resistance levels: 1.2323, 1.2357, 1.2400.
Support levels: 1.2271, 1.2240, 1.2200, 1.2150.

Trading tips

To open long positions, one can rely on the breakout of 1.2323. Take-profit – 1.2400. Stop-loss – 1.2271. Implementation time: 1-2 days.

A rebound from 1.2323 as from resistance, followed by a breakdown of 1.2271 may become a signal for new sales with the target at 1.2150. Stop-loss – 1.2335.

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: correctional growth 08.01.2021

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

USD is showing ambiguous performance against CHF in today's Asian session, hitting local highs since December 29. USD received a strong momentum for correctional growth the day before after the publication of positive macroeconomic statistics from the US. At the same time, investors are noticeably cautious on Friday ahead of the publication of the December report on the US labor market. The forecasts are quite pessimistic. In particular, it is assumed that the number of Nonfarm Payrolls in December will grow by only 71K after increasing by 245K in the previous month. The Unemployment Rate is expected to rise to 6.8%.

Switzerland is also to publish data on the Unemployment Rate during the day. Forecasts suggest that in December the indicator will rise to 3.5% MoM from 3.4% MoM in the previous month.

Support and resistance

In the D1 chart, Bollinger Bands are reversing horizontally. The price range has consolidated, but remains rather spacious for the current level of activity in the market. MACD indicator is growing preserving a rather stable buy signal (located above the signal line). Stochastic is showing almost vertical growth, signaling the emergence of strong "bullish" sentiment in the ultra-short term.

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

Resistance levels: 0.8880, 0.8920, 0.8960, 0.9000.
Support levels: 0.8850, 0.8821, 0.8800, 0.8783.

Trading tips

To open long positions, one can rely on the breakout of 0.8880. Take-profit – 0.8920. Stop-loss – 0.8860. Implementation time: 1-2 days.

The return of "bearish" trend with the breakdown of 0.8850 may become a signal for new sales with the target at 0.8800. Stop-loss – 0.8880.

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]

USD/JPY: active growth 11.01.2021

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 USD/JPY is actively growing, trading at 104.20.

JPY began to decline significantly in relation to its main competitors. This is facilitated, firstly, by the heavy snowfalls that have continued since the middle of last week, which have caused the cancellation of more than 500 domestic flights. The second reason for the negative dynamics for the instrument was rather weak macroeconomic statistics from Japan. Household Spending in November fell to –1.8% from 2.1% in October, while the yield on 30-year JGB auctioned remained at 0.648%.

USD continued to rise, despite the negative data on the US labor market, published on Friday. Nonfarm Payrolls in December decreased by 140K against the forecast of an increase of 71K, and Private Nonfarm Payrolls decreased by 95K against the expected increase by 98K.

Support and resistance

On the global chart, the price continues to rise within the downtrend channel and may reach the resistance line levels this week. Technical indicators are in a global sell state but are preparing to reverse. The fluctuation range of the Alligator indicator EMAs began to actively narrow, and the histogram of the AO oscillator is forming upward bars, being in the sell zone.

Resistance levels: 104.46, 105.65.
Support levels: 103.77, 102.60.

Trading tips

If the asset continues correctional growth and the price consolidates above the resistance level of 104.46, long positions will be relevant with target at 105.65. Stop-loss – 104.00. Implementation time: 7 days and more.

If the asset continues to decline and the price consolidates below the local support at 103.77, short positions can be opened with the target at 102.60. Stop-loss – 104.20.

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]

USD/JPY: downward reversal 13.01.2021

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 USD/JPY pair has reversed and is declining, trading at 103.62.

JPY is actively winning back losses against USD. However, there are factors that are holding back the growth of JPY. Utilities across Japan continue to grapple with the aftermath of heavy snowfall, which has already killed 8 people and injured 270. On the contrary, macroeconomic statistics had a positive effect on the dynamics of the instrument. The Bank of Japan Adjusted Current Account rose to JPY 2.34T from JPY 1.98T in the previous period.

USD, in turn, reversed and began to decline again, breaking down the key level in the index of 90 points. Political instability in the USA has a negative impact on the dollar. Yesterday, the US House of Representatives approved a resolution calling on Vice President Michael Pence to apply the 25th Amendment to the Constitution and remove Donald Trump from power. 223 congressmen voted for the initiative, and 205 voted against.

Support and resistance

On the local chart of the asset, the price, having reached the resistance line of the global descending channel, reversed and began to decline. Technical indicators are still in the state of selling, but are about to reverse. The range of the Alligator indicator EMAs fluctuations began to narrow down, and the histogram of the AO oscillator forms descending bars.

Resistance levels: 103.86, 104.32.
Support levels: 103.40, 102.60.

Trading tips

If the asset continues to decline and the price consolidates below the local support at 103.40, short positions can be opened with the target at 102.60. Stop-loss – 103.80. Implementation time: 7 days and more.

If the asset continues correctional growth and the price consolidates above the resistance level of 103.86, long positions will be relevant with target at 104.32. Stop-loss – 103.40.

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]

USD/CHF: upward correction 15.01.2021

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

The USD/CHF pair is correcting upwards, trading at 0.8885.

The day before, CHF was supported by the message that the Swissmedic Institute approved the use of the vaccine against the coronavirus from Moderna Inc., with which Switzerland signed a contract for the supply of 7.5M doses, 200K doses of which will be sent to the country's regions in the near future.

USD continues its volatile dynamics and today began trading from levels above the key level of 90 points in the index. Macroeconomic statistics from the US were contradictory. The Import Price Index in December was 0.9% instead of the expected 0.7%, and the Export Price Index amounted to 1.1%, which is higher than the projected 0.4%. The data on the number of Initial Jobless Claims disappointed investors: the figure was 965K against the expected 795K.

Support and resistance

The asset continues to trade within a narrow local descending channel, which increasingly resembles a Head and Shoulders pattern. Technical indicators on the local interval are still directed towards purchase, but the signals are not clear. The fast EMAs of the Alligator indicator are above the signal line, and the histogram of the AO oscillator is in the positive zone, close to the transition level.

Resistance levels: 0.8920, 0.9020.
Support levels: 0.8857, 0.8768.

Trading tips

If the asset continues correctional growth and the price consolidates above the local resistance at 0.8920, long positions will be relevant with target at 0.9020. Stop-loss – 0.8860. Implementation time: 7 days and more.

If the asset continues to decline and the price consolidates below the local support at 0.8857, short positions can be opened with the target at 0.8768. Stop-loss – 0.8900.

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

 

[Antony_NPBFX]

USD/CAD: correctional dynamics develops 18.01.2021

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 is growing against CAD today, updating local highs since January 12. Noticeable support for the instrument is provided by the growth of negative sentiments regarding the worsening epidemiological situation in the world. Despite the start of vaccination campaigns, many countries are still forced to maintain and tighten restrictive measures, which negatively affects the pace of global economic recovery. Alarming data comes from China, which has already identified the maximum number of COVID-19 infected in the past 10 months.

USD, in turn, is receiving support from the nearly USD 2T new stimulus plan for the American economy, published last week. Having parity in the Senate, Democrats can easily pass part of the amendments aimed at supporting the population. However, measures to fund vaccination programs will require Democrats to enlist the support of Republicans, which could pose some difficulties given the ongoing political tensions in the country.

Support and resistance

In the D1 chart, Bollinger Bands are reversing horizontally. The price range is narrowing, reflecting the emergence of ambiguous dynamics of trading in the short term. MACD indicator is growing preserving a stable buy signal (located above the signal line). Stochastic, having rebounded from the level of "20", maintains a confident uptrend, signaling in favor of the development of "bullish" sentiments in the ultra-short term.

Current showings of the indicators do not contradict the further development of the uptrend in the short term.

Resistance levels: 1.2800, 1.2850, 1.2900, 1.2950.
Support levels: 1.2766, 1.2738, 1.2700, 1.2664.

Trading tips

To open long positions, one can rely on the breakout of 1.2800. Take-profit – 1.2850. Stop-loss – 1.2766. Implementation time: 1-2 days.

A rebound from 1.2800 as from resistance, followed by a breakdown of 1.2766 may become a signal for new sales with the target at 1.2700. Stop-loss – 1.2800.

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

 

[Antony_NPBFX]

XAU/USD: gold is in demand again 20.01.2021

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 rising significantly during today's Asian session, updating local highs of January 15. The instrument is testing the level of 1850.00 for a breakout. Noticeable pressure on USD was exerted by the speech of the candidate for the post of the US Treasury Secretary Janet Yellen, who spoke in favor of a gradual return of the "strong dollar policy". In any case, it seems that the Joe Biden administration will not engage in artificial weakening of the national currency, as well as prosecute other countries for such actions. In addition, investors are looking forward to Biden's inauguration today, and also expect quick decisions on the announced USD 2 trillion support package for the US economy.

Support and resistance

Bollinger Bands in D1 chart demonstrate a stable decrease. The price range expands from below, weakly reacting to the appearance of ambiguous trading dynamics in the nearest future. MACD is reversing to growth forming a new buy signal (located above the signal line). Stochastic keeps its upward direction but is rapidly approaching its highs, which reflects the risks of overbought instrument in the ultra-short term. Technical indicators do not contradict the further development of the uptrend in the short and/or ultra-short term.

Resistance levels: 1850.00, 1863.34, 1875.09, 1900.00.
Support levels: 1830.00, 1811.96, 1800.00.

Trading tips

To open long positions, one can rely on the breakout of 1863.34. Take-profit – 1900.00. Stop-loss – 1840.00. Implementation time: 2-3 days.

A rebound from 1863.34 as from resistance followed by a breakdown of 1850.00 may become a signal for new sales with the target at 1811.96. Stop-loss – 1870.00.

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[Antony_NPBFX]

GBP/USD: consolidating at record highs 22.01.2021

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 down against USD during today's morning session, correcting slightly after yesterday's renewing record highs since May 2018. The decline in the instrument is largely due to technical factors, while fundamentally the picture changes only slightly.

Moderate support for USD is provided by rather positive macroeconomic statistics from the US, which entered the market on Thursday. The number of initial jobless claims for the week ending January 15 fell from 926K to 900K, while investors expected a decrease in the figure to 910K. Continuing Jobless Claims were revised down from 5.181M to 5.054M with the forecast for growth to 5.4M.

In turn, GBP is under slight pressure on Friday after the publication of GfK Consumer Confidence. In January, the index fell from –26 to –28 points, while the market expected a decline to –29 points.

Support and resistance

The Bollinger Bands in D1 chart show moderate growth. The price range is expanding but it fails to conform to the development of "bullish" sentiments at the moment. MACD indicator is growing preserving a buy signal (located above the signal line). Stochastic keeps its upward direction but is rapidly approaching its highs, which reflects the risks of overbought instrument in the ultra-short term.

Resistance levels: 1.3760, 1.3834, 1.3900.
Support levels: 1.3700, 1.3650, 1.3600, 1.3552.

Trading tips

To open long positions, one can rely on the breakout of 1.3760. Take-profit – 1.3900. Stop-loss – 1.3680. Implementation time: 2-3 days.

A rebound from 1.3760 as from resistance followed by a breakdown of 1.3700 may become a signal for new sales with the target at 1.3600. Stop-loss – 1.3760.

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[Antony_NPBFX]

USD/JPY: USD is correcting 25.01.2021

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 showing slight gains against JPY, supported by strong macroeconomic statistics that were released in the US late last week. In addition to positive data on business activity, investors also paid attention to the dynamics of the secondary housing market. December sales in the US existing home market rose by 0.7% MoM after falling by 2.2% MoM in the previous month. Analysts had expected negative dynamics to remain at –1.4% MoM.

Japanese statistics, in turn, somewhat disappointed investors with a drop in the Manufacturing PMI from Jibun Bank in January from 50 to 49.7 points, which turned out to be worse than market forecasts at 50.5 points.

Support and resistance

Bollinger Bands in D1 chart show stable growth. The price range is narrowing, reflecting ambiguous nature of trading in the short term. MACD is reversing to growth forming a new buy signal (located above the signal line). Stochastic shows similar dynamics, reversing upwards near the level of "20". Current readings of the indicators signal in favor of further growth in the ultra-short term.

One should keep existing long positions and open new ones in the short and/or ultra-short term until the signals from technical indicators clear up.

Resistance levels: 103.90, 104.20, 104.50, 104.75.
Support levels: 103.60, 103.25, 103.00, 102.80.

Trading tips

To open long positions, one can rely on the breakout of 103.90. Take-profit – 104.50. Stop-loss – 103.60. Implementation time: 1-2 days.

A rebound from 103.90 as from resistance followed by a breakdown of 103.60 may become a signal for new sales with the target at 103.00. Stop-loss – 103.90.

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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 USD/JPY and trade efficiently with NPBFX.

 

[Antony_NPBFX]

USD/CHF: USD remains under pressure 27.01.2021

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

USD is showing flat trading dynamics against CHF during today's Asian session, consolidating near 0.8860. American investors are awaiting the publication of the final minutes of the two-day Fed meeting today, but for now they are taking a lead from the usual signals. After Joe Biden's statements about a possible adjustment of his stimulus plan for the American economy, markets fear that some of the measures will not be implemented in the near future.

In addition to the Fed meeting, traders are focused on statistics from the United States on the dynamics of orders for durable goods in December. Analysts expect that the indicator will remain at about the same level as before, so it will not have a noticeable impact on the dynamics of USD. Switzerland will publish ZEW Survey Expectations for January today. The forecasts are rather disappointing: the indicator is expected to fall from 46.8 to 37.9 points.

Support and resistance

In the D1 chart, Bollinger Bands are reversing horizontally. The price range is narrowing, reflecting appearance of multi-directional dynamics in the short term. MACD histogram is slightly strengthening keeping a weak buy signal (located slightly above the signal line). Stochastic is showing slightly more confident dynamics, signaling "bullish" potential in the ultra-short term.

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

Resistance levels: 0.8880, 0.8900, 0.8924, 0.8960.
Support levels: 0.8850, 0.8837, 0.8821, 0.8800.

Trading tips

To open new short positions, one can rely on the breakdown of 0.8850. Take-profit – 0.8821–0.8810. Stop-loss – 0.8870. Implementation time: 2-3 days.

The return of the "bullish" trend to the market with the breakout of 0.8880 may become a signal for new purchases with the target of 0.8924. Stop-loss – 0.8860.

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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]

USD/CAD: the dollar is strengthening 29.01.2021

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 actively grows, trading near the local highs from December 23, renewed yesterday. Thursday’s macroeconomic statistics from the US put pressure on the positions of the American currency. Q4 2020 GDP fell sharply from 33.4% to 4.0% YoY, which was the economy's response to the continued quarantine restrictions and the slowdown in global trade flows. However, the instrument remained positive.

On Friday, traders are waiting for the publication of US data on the dynamics of personal income and expenses for December. Also, investors will pay attention to the consumer confidence index and the dynamics of pending home sales. Canada will release November GDP statistics and December data on commodity and industrial product price indices today.

Support and resistance

On the daily chart, Bollinger Bands are rising moderately. The price range is actively expanding but not as fast as the “bullish” dynamics develop. The MACD indicator is growing, maintaining a strong buy signal (the histogram is above the signal line), and is trying to consolidate above the zero level. Stochastic maintains a strong upward trend but is approaching its highs, signaling that the dollar is overbought in the ultra-short term.

Resistance levels: 1.2900, 1.2950, 1.3000.
Support levels: 1.2850, 1.2800, 1.2738, 1.2700.

Trading tips

Long positions may be opened after the breakout of 1.2900 with the target at 1.3000. Stop loss – 1.2850. Implementation period: 1–2 days.

Short positions may be opened after the rebound from the level of 1.2900 and the breakdown of 1.2850 with a target at 1.2738. Stop loss – 1.2900.

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]

USD/JPY: correction from local highs 01.02.2021

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 correcting against JPY during today's morning session, retreating from local highs since November 16, which the instrument managed to update at the end of the last trading week. The reason for the strengthening of "bullish" sentiment was technical factors, while the fundamental background in the market changed little. Moreover, JPY gained support on Friday after the publication of relatively confident macroeconomic statistics on the Japanese labor market, which showed greater resilience than experts expected.

In turn, data from the US also turned out to be better than market forecasts. Personal Income in December 2020 increased by 0.6% MoM after declining by 1.7% MoM in the previous month. Experts expected an increase of 0.1% MoM. The rate of decline in Personal Spending in December slowed down from –0.7% MoM to –0.2% MoM, which turned out to be two times better than the forecasts. The Chicago PMI in January rose sharply from 58.7 to 63.8 points against the forecast of a decline to 58.5 points.

Support and resistance

Bollinger Bands in D1 chart show moderate growth. The price range is expanding but it fails to conform to the development of "bullish" sentiments at the moment. MACD indicator is growing preserving a stable buy signal (located above the signal line). Stochastic, having reached the level of 80, reversed into horizontal plane, indicating overbought USD in the ultra-short term.

Resistance levels: 104.75, 105.00, 105.33, 105.60.
Support levels: 104.50, 104.20, 103.90, 103.60.

Trading tips

To open new short positions, one can rely on the breakdown of 104.50. Take-profit – 103.90. Stop-loss – 104.75. Implementation time: 1-2 days.

The return of the "bullish" trend with the breakout of 105.00 may become a signal for new purchases with the target of 105.60. Stop-loss – 104.75.

Use more opportunities of the NPBFX analytical portal: E-book

If you just recently started to be interested in trading on FOREX and would like to deepen your knowledge, an electronic Beginner's Guide to FOREX Trading will be an excellent helper for you here. The book consists of 5 chapters and reflects fundamental concepts of the foreign exchange market to start successful trading. From the main chapters of the E-book you can learn about the concepts and history of FOREX, currencies and trend lines, technical indicators, types of orders, trading on news, psychology of trading, risk management and much more.

You can read a Beginner's guide to FOREX Trading online or download it free of charge from the NPBFX analytical portal in the "Education" section. In order to get unlimited access to the E-book and other useful instruments on the portal, you need to register on the NPBFX website.

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

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