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[Antony_NPBFX]

Visa Inc. Class A: technical analysis 18.05.2022

Good afternoon, dear forum visitors!

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

The shares of Visa Inc. Class A, the largest American multinational company providing payment transaction services, are corrected at 203.00.

On the daily chart of the asset, a global side channel is developing with the boundaries of 189.00–235.00, and at the moment, the price has reversed upwards from its support line.

Primary signs of a reversal appeared on the four-hour chart: the price has broken the local resistance around 200.00. Technical indicators also point to a high probability of continued growth: indicator Alligator’s EMA fluctuations range began to actively narrow, fast EMAs are approaching the signal line, and the AO oscillator histogram began to form new rising bars in the sell zone.

Trading tips

After the price rises and consolidates above the local resistance level at 205.00, the main scenario is relevant, assuming the formation of buy positions with the target at 235.00 and stop loss 200.00. Implementation period: 7 days or more.

After the price reverses, falls, and consolidates below the support level at 189.00, an alternative scenario is relevant, which involves the formation of sell positions with the target at 170.00 and stop loss around 200.00.

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[Antony_NPBFX]

Tesla Inc.: technical analysis 20.05.2022

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

The shares of Tesla Inc., the world's leading manufacturer of electric cars, continue their global correction, trading at 709.00.

On the daily chart of the asset, the price is moving within the global Expanding formation pattern with dynamic extremes at 1150.00–500.00. At the moment, the instrument is forming the fifth wave of the pattern, which is one of the two most probable waves.

On the four-hour chart, the rate can already break the low of the third wave at 700.00 today, which will be a signal to continue the downward movement. The readings of technical indicators confirm the likelihood of a decline: fast EMAs on the Alligator indicator are actively moving away from the signal line, and the AO oscillator histogram is forming bars with a downward trend in the sell zone.

Trading tips

After the price drops and consolidates below the local minimum at 680.00, the main scenario is relevant, which involves the formation of sell positions with the target at 500.00 and stop loss 750.00. Implementation period: 7 days or more.

After the price reverses, rises, and consolidates above the local resistance level at 764.00, an alternative scenario is relevant, which involves the formation of buy positions with the target at 950.00 and stop loss 700.00.

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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.

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[Antony_NPBFX]

XAG/USD: wave analysis 23.05.2022

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

The pair XAG/USD is in the correction, a fall is possible.

On the daily chart, a downward correction of the higher level develops as the second wave (2), within which the wave C of (2) forms. Now, the fourth wave of the lower level iv of C has formed, and the development of the fifth wave v of C has started, within which a local correction of the lower level is forming as the wave (iv) of v. If the assumption is correct, after the end of the correction, the price will fall to the levels of 18.40–15.60. In this scenario, critical stop loss level is 23.20.

Main scenario

Short positions will become relevant after the end of the correction, below the level of 23.20 with the targets at 18.40–15.60. Implementation period: 7 days and more.

Alternative scenario

The breakout and the consolidation of the price above the level of 23.20 will let the price grow to the levels of 26.20–29.81.

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[Antony_NPBFX]

EUR/USD: statistics from the eurozone disappointed investors 25.05.2022

Good afternoon, dear forum visitors!

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

Current trend

The European currency shows a slight decrease against the US dollar during the Asian session, correcting after the "bullish" start of the week, which led to the renewal of local highs for the instrument from April 25. Quotes are still supported by the moderate weakness of the dollar, which reacts negatively to the publication of mixed macroeconomic statistics. In addition, investors positively assessed the rhetoric of the President of the European Central Bank (ECB) Christine Lagarde, who actually announced the imminent completion of the quantitative easing program and a possible increase in interest rates by 50 basis points in July.

Traders also assess the statement of the President of the European Commission, Ursula von der Leyen, who announced a number of steps to reduce the EU's dependence on Russian energy resources. The authorities intend to accelerate the transition to "green" energy, increasing the current target values from 9% to 13% by 2030. In particular, the construction of solar roofs in new buildings is proposed. About 300 billion euros will be needed for energy reforms, of which about 72 billion euros will be grants and 225 billion can be obtained in the form of loans. Up to 2 billion euros will be needed for oil infrastructure, taking into account the cessation of shipments of Russian oil.

Meanwhile, macroeconomic statistics from the euro area, released the day before, turned out to be negative. Markit Services PMI fell from 57.7 to 56.3 points, which turned out to be worse than market expectations for a reduction to 57.5 points. Composite PMI fell from 55.8 to 54.9 points, which also turned out to be weaker than market forecasts at the level of 55.3 points.

Today, investors are focused on statistics from Germany on updated estimates of GDP for Q1 2022. Also during the day, ECB representatives are expected to speak, including the President of the regulator, Christine Lagarde.

Support and resistance

Bollinger Bands in D1 chart show moderate growth. The price range is expanding but it fails to conform to the surge of "bullish" activity at the moment. MACD grows, preserving a stable buy signal (located above the signal line). The indicator is trying to consolidate above the zero level. Stochastic, having reached its highs, reversed into a horizontal plane, indicating overbought EUR in the ultra-short term.

Resistance levels: 1.0747, 1.0800, 1.0850, 1.0900.
Support levels: 1.0700, 1.0640, 1.0600, 1.0500.

Trading tips

Long positions can be opened after breakout of 1.0747 with the target of 1.0850. Stop-loss – 1.0700. Implementation time: 2-3 days.

The breakdown of 1.0640 may serve as a signal to open short positions with the target at 1.0530. Stop-loss – 1.0700.

Use more opportunities of the NPBFX analytical portal: analytics

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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 EUR/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

USD/CHF: the US dollar remains under pressure 27.05.2022

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

During the Asian session, the USD/CHF pair is slightly corrected, renewing local lows from April 26. The asset is preparing to end trading with a fairly confident decline and continue the development of a strong "bearish" momentum formed last week.

The pressure on quotes is again exerted by uncertain US macroeconomic statistics, which increases the risk that the US Federal Reserve will break the interest rate hike cycle after its planned increase in June and July. Traders fear that the actions of financial regulators, which are due to the fight against high inflation, will lead to a noticeable slowdown in global economic growth. According to the revised data, the contraction of the US economy for the first quarter of this year amounted to 1.5%, which was 0.1% worse than the previous estimate.

On Friday, traders expect the publication in the US of April data on the dynamics of income and expenses of American citizens. Current forecasts suggest that revenue growth will remain flat at 0.5%, while spending could slow from 1.1% to 0.7%.

Support and resistance

On the daily chart, Bollinger Bands are steadily declining: the price range expands, letting the "bears" renew local lows. The MACD indicator falls, keeping a strong sell signal (the histogram is below the signal line). Stochastic is close to its lows, signaling that USD may become oversold in the ultra-short term.

Resistance levels: 0.9600, 0.9637, 0.9700, 0.9762.
Support levels: 0.9535, 0.9459, 0.9400, 0.9300.

Trading tips

Short positions may be opened after the breakdown of 0.9535 with the target at 0.9400. Stop loss – 0.9600. Implementation period: 1–2 days.

Long positions may be opened after the rebound from 0.9535 and the breakout of 0.9600 with the target at 0.9700. Stop loss — 0.9550.

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

You can learn more about the current situation on USD/CHF 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 AUD/USD, EUR/USD, GBP/USD, USD/JPY. In order to get free and unlimited access to video forecast and other useful instruments on the portal, you need to register on the NPBFX website.

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[Antony_NPBFX]

Alibaba Group Holdings Ltd.: technical analysis 30.05.2022

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

The shares of Alibaba Group Holdings Ltd., one of the largest companies in the world in the field of Internet commerce, are correcting, trading at 92.00.

On the daily chart, a wide downwards channel with dynamic boundaries 70.00–100.00 is formed, within which the price is held for a long time near the resistance line, unsuccessfully trying to break it.

On the four-hour chart, the local Triangle pattern is formed, the upper border of which coincides with the resistance line of the global channel around 100.00.

At the moment, there is no clear signal from the indicators for the subsequent movement yet but, given the factor of the pattern, the growth potential prevails: fast EMA on the Alligator indicator is actively approaching the signaling line, and the histogram of the AO indicator forms upward bars.

Trading tips

After the reverse, growth and consolidation of the price above 101.00, the main scenario is relevant, which involves the formation of buy positions with the target at 119.00 and stop loss 95.00. The implementation period: 7 days or more.

After decrease and consolidation of the price below 81.00, an alternative scenario is relevant, which involves the formation of sell positions with the target at 70.00 and stop loss 85.00.

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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.

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[Antony_NPBFX]

Pfizer Inc.: technical analysis 01.06.2022

Good afternoon, dear forum visitors!

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

The shares of Pfizer Inc., one of the world's largest pharmaceutical companies, are correcting slightly above 53.00.

An uptrend is forming on the daily chart of the asset, and the price is holding above the support line at 49.00, developing a local increase.

On the four-hour chart, it can be seen that the channel with dynamic boundaries 49.00–57.00 is quite stable, and the price is approaching the resistance line, which is the main goal of the current upward movement of quotes. Since the price is in the middle of the channel, a downward scenario with reaching the support line at 49.00 is not excluded.

Technical indicators keep a stable buy signal, which is a priority: fast EMAs on the alligator indicator are above the signal line, and the AO oscillator histogram is trading in the buy zone, forming upward bars.

Trading tips

Long positions may be opened after the price rises and consolidates above 54.70 with the target at 59.00. Stop loss is 53.00. Implementation period: 7 days or more.

Short positions may be opened after a reversal, reduction, and consolidation of the price below 50.80 with the target at 47.70. Stop loss is 52.00.

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

 

[Antony_NPBFX]

Alphabet Inc.: technical analysis 03.06.2022

Good afternoon, dear forum visitors!

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

Alphabet Inc. shares are trading at 2352.00.

On the daily chart of the asset, a global downtrend is forming, within which the price reached the low of the year 2090.0 and is now growing as part of a correction.

On the four-hour chart, the upward movement has already overcome the initial correction of 23.6% Fibonacci around 2274.0, which means the beginning of a full-fledged correction. The main targets for this local growth may be an intermediate correction of 50.0% and a complete correction of 61.8% by Fibonacci at 2480.0 and 2572.0, respectively.

Technical indicators do not exclude growth and have already begun to weaken the global sell signal: fast EMAs on the Alligator indicator are approaching the signal line, and the AO oscillator histogram is trading below the transition level, forming upward bars.

Trading tips

Long positions may be opened after the price rises and consolidates above 2387.0 with the target at 2572.0. Stop loss is 2300.0. Implementation period: 7 days or more.

Short positions may be opened after a reversal, reduction, and consolidation of the price below 2274.0 with the target at 2090.0. Stop loss is 2320.0.

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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 Alphabet Inc. and trade efficiently with NPBFX.

 

[Antony_NPBFX]

eBay Inc.: technical analysis 06.06.2022

Good afternoon, dear forum visitors!

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

The shares of eBay Inc., the world's largest online auction, are correcting upwards around the level of 47.00.

On the daily chart, the price is falling within a narrow downwards channel, approaching the resistance line. The key support remains a full correction of 61.8% Fibonacci 46.00, after its breakdown, the downward dynamics will intensify.

On the four-hour chart, local growth may continue after consolidation above the local high of last week around 48.80. In this case, the movement target will be the 50.0% Fibonacci intermediate correction level at 53.30.

At the moment, fast EMAs on the Alligator indicator are approaching the signal line, and the AO oscillator histogram is forming upward bars in the sell zone.

Trading tips

Long positions may be opened after the price rises and consolidates above 48.80 with the target at 53.30 and stop loss around 47.00. Implementation period: 7 days or more.

Short positions may be opened after the consolidation below 46.00 with the target at 40.00. Stop loss is below 48.00.

Use more opportunities of the NPBFX analytical portal: analytics

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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 eBay Inc. and trade efficiently with NPBFX.

 

[Antony_NPBFX]

The Walt Disney Co.: technical analysis 08.06.2022

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

The shares of The Walt Disney Co., one of the leaders in the global entertainment industry, are correcting around 107.00.

On the daily chart of the asset, the formation of a global downwards channel with dynamic boundaries at 90.00–123.00 continues, and after reaching the support line at 91.00, the price reversed upwards.

On the four-hour chart, the current decline has turned into an independent trend, and soon the asset may attempt to reverse test the Fibonacci 61.8% retracement level of 124.00.

Technical indicators are ready for a reversal and signal a significant weakening of the "bears": indicator Alligator’s EMA oscillation range actively narrows, and the histogram of the AO oscillator forms bars with an upward trend in the sell zone.

Trading tips

Long positions may be opened after the price rises and consolidates above 111.00 with the target at 124.00. Stop loss is 105.00. Implementation period: 7 days or more.

Short positions may be opened after the price drops and consolidates below 101.00 with the target at 91.00. Stop loss is 105.00.

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[Antony_NPBFX]

Starbucks Corp.: technical analysis 10.06.2022

Good afternoon, dear forum visitors!

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

The shares of Starbucks Corp., one of the largest companies in the world that owns a chain of coffee houses, are trading in a corrective trend around the level of 79.00.

On the daily chart of the asset, a wide downward channel forms, within which the price has renewed the year’s low around 69.00, coinciding with the initial trend of 61.8% for the Fibonacci extension.

On the four-hour chart, the upward correction is strengthening, and the recent achievement of the previous local high of 81.50 is an important marker of growth. The further development of positive dynamics is confirmed by the readings of technical indicators that gave a new buy signal: fast EMAs on the Alligator indicator crossed the signal line upwards, expanding the range of fluctuations, and the histogram of the AO oscillator, having moved into the buy zone, forms ascending bars.

Trading tips

Long positions may be opened after the price rises and consolidates above 81.50 with the target at 93.00. Stop loss is 78.00. Implementation period: 7 days or more.

Short positions may be opened after the price drops and consolidates below 69.00 with the target at 54.00. Stop loss is 78.00.

Use more opportunities of the NPBFX analytical portal: analytics

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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 Starbucks Corp. and trade efficiently with NPBFX.

 

[Antony_NPBFX]

Adobe Systems Inc.: technical analysis 13.06.2022

Good afternoon, dear forum visitors!

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

The shares of Adobe Systems Inc., the US software giant, decrease, trading around 393.00.

A downtrend is forming on the daily chart of the asset, which may continue with renewed vigor if the price breaks the global year’s low of 373.00.

On a four-hour chart, the trading instrument failed to overcome the resistance line of the global downtrend at 440.00 and, having reversed, is actively declining. Despite the recent upward correction, the current momentum began with a price gap, one of the key markers reflecting its strength.

Technical indicators reflect a possible reversal: indicator Alligator’s EMA oscillation range began to actively narrow, and the histogram of the AO oscillator formed the first down bar in the buy zone.

Trading tips

Short positions may be opened after the price drops and consolidates below 373.00 with the target at 300.00. Stop loss is 400.00. Implementation period: 7 days or more.

Long positions may be opened after a reversal, growth, and consolidation of the price above 420.00 with the target at 474.00. Stop loss is 390.00.

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

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

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

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

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

 

[Antony_NPBFX]

GBP/USD: correction after a sharp decline the day before 15.06.2022

Good afternoon, dear forum visitors!

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

Current trend

The British pound is trading upwards during the morning session, correcting after a sharp decline the previous day, as a result of which GBP/USD made new record lows in March 2020. The reason for the emergence of "bearish" sentiment on the market was the weak macroeconomic statistics from the UK.

Office for National Statistics, as part of its report, noted a decline in Gross Domestic Product to 3.4% in April from 6.4% a month earlier. In addition, a sharp Unemployment Rate was recorded, which rose from 3.7% to 3.8% due to a reduction in the Average Earnings Including Bonus to 6.8% from 7.0%, while the Claimant Count Change last month declined by only 19.7K, which turned out to be significantly worse than the reduction by 65.5K over the previous period, as well as the experts' forecast at the level of –49.4K. The negative trend in the economy is intensifying against the backdrop of the escalation of the military conflict between Russia and Ukraine, which has become a catalyst for global inflation and the food crisis; in addition, there are problems in the supply chains in trade disputes between representatives of the United Kingdom and the European Union, which do not stop after Brexit.

At the beginning of the week, investors reacted negatively to the 0.3% slowdown in the UK economy in April, expecting that this would become an obstacle for the Bank of England on the path of a gradual tightening of monetary policy. The meeting of the British regulator will be held tomorrow, the day after the publication of the decision of the US Federal Reserve. If the US Fed can raise the interest rate by 75 basis points at once, the Bank of England is expected to have a much more modest correction of the value by 25 basis points. In addition, the British regulator may somewhat soften its position on further tightening of monetary conditions.

Support and resistance

Bollinger Bands in D1 chart demonstrate a stable decrease. The price range is expanding but it fails to conform to the surge of "bearish" activity at the moment. MACD is going down preserving a stable sell signal (located below the signal line). Stochastic, having approached its lows, is trying to reverse towards growth, indicating an oversold pound in the ultra-short term.

Resistance levels: 1.2074, 1.2163, 1.2250, 1.2328.
Support levels: 1.2000, 1.1933, 1.1800, 1.1700.

Trading tips

Short positions may be opened after a breakdown of 1.1933 with the target at 1.1800. Stop-loss — 1.2010. Implementation time: 1-2 days.

The return of the "bullish" trend with the breakout of 1.2074 may become a signal for new purchases with the target of 1.2250. Stop-loss — 1.1960.

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

You can learn more about the current situation on GBP/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 AUD/USD, EUR/USD, USD/CHF, USD/JPY. In order to get free and unlimited access to video forecast and other useful instruments on the portal, you need to register on the NPBFX website.

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

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

 

[Antony_NPBFX]

NZD/USD: consolidation at local highs 17.06.2022

Good afternoon, dear forum visitors!

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

Current trend

The New Zealand dollar shows mixed dynamics against the US dollar, consolidating near 0.6350. The day before the "bulls" still managed to take the lead in NZD/USD, despite the publication of extremely weak macroeconomic statistics from New Zealand.

Gross Domestic Product declined 0.2% after rising 3.0% in the previous quarter. Analysts expected a slowdown in the indicator, but hoped that the positive dynamics would remain at the level of 0.6%. In annual terms, the New Zealand economy slowed down from 3.1% to 1.2%, while the market expected an acceleration to 3.3%. The REINZ House Price Index fell 1.6% in May after falling 1.9% a month earlier. During the morning session, the instrument is slightly supported by data on the Manufacturing PMI, which showed an increase from 51.2 to 52.9 points in May, which turned out to be better than analysts' forecast of an increase to 52.7 points.

Support and resistance

Bollinger Bands in D1 chart demonstrate active decrease. The price range is slightly narrowing from below, reflecting the correctional growth in the short term. MACD is reversing to growth forming a new buy signal (located above the signal line). Stochastic grows more actively but is rapidly approaching its highs, which reflects risks of the overbought instrument in the ultra-short term.

Resistance levels: 0.6400, 0.6450, 0.6500, 0.6535.
Support levels: 0.6350, 0.6300, 0.6244, 0.6200.

Trading tips

Long positions can be opened after a breakout of 0.6400 with the target of 0.6500. Stop-loss — 0.6350. Implementation time: 2-3 days.

The return of "bearish" trend with the breakdown of 0.6300 may become a signal for new sales with the target at 0.6200. Stop-loss — 0.6350.

Use more opportunities of the NPBFX analytical portal: analytics

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

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

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

 

[Antony_NPBFX]

GBP/USD: the pound is trying to recover its positions 20.06.2022

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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 British pound is showing weak growth against the US currency, recovering from a significant decline last Friday. GBP/USD is testing 1.2250 for a breakout, waiting for new drivers to appear on the market.

Moderate support for quotes last week was provided by the results of the meeting of the Bank of England on the interest rate. Officials, following the US Federal Reserve, continued to actively tighten monetary policy in order to curb rapid inflation, which was caused by the limited labor market and pricing strategies of large national companies, as well as increasing global tensions against the backdrop of an escalation of the military conflict in Ukraine. The regulator adjusted its interest rate by another 25 basis points to 1.25% and made its fifth consecutive increase since December 2021, becoming the first major bank to be "hawkish" since the start of the coronavirus pandemic. It is worth noting that three members of the Committee voted for a more significant adjustment of the value by 0.50%, but in the end the votes were distributed in the same way as at the May meeting. At the same time, inflationary risks for the UK remain quite high, and economic growth rates are rapidly slowing down, threatening a full-fledged recession. Current forecasts suggest that UK GDP will contract in Q2 2022 by 0.3%, which is not much less than in May.

Investors are waiting for the publication of May statistics on the dynamics of consumer prices in the UK on Wednesday. Current forecasts suggest that inflation will slow down in the monthly terms from 2.5% to 1.9%, but accelerate YoY from 9% to a new record high of 9.1%.

Support and resistance

Bollinger Bands in D1 chart demonstrate quite active decrease. The price range is almost unchanged, but it remains rather spacious for the current level of activity in the market. MACD is growing preserving a weak buy signal (located above the signal line). Stochastic keeps its upward direction but is rapidly approaching its highs, which reflects the risks of overbought GBP in the ultra-short term.

Resistance levels: 1.2250, 1.2328, 1.2400, 1.2457.
Support levels: 1.2163, 1.2074, 1.2000, 1.1933.

Trading tips

Long positions can be opened after a breakout of 1.2328 with the target of 1.2500. Stop-loss — 1.2250. Implementation time: 2-3 days.

A rebound from 1.2250 as from resistance, followed by a breakdown of 1.2163 may become a signal for opening of new short positions with the target at 1.2000. Stop-loss — 1.2250.

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[Antony_NPBFX]

XAU/USD: metal quotes are developing a downward trend 22.06.2022

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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

During the Asian session, gold prices are moderately declining, testing 1825.00 for a breakdown and renewing new local lows from June 16.

Investors are in no hurry to open new trading positions ahead of the publication of inflation statistics from the UK, as well as the speech of the head of the US Federal Reserve, Jerome Powell, who, as analysts hope, will outline the immediate prospects for monetary policy. So, some agency representatives said they were not opposed to another rate hike by 75 basis points, and a more conservative position still suggests an increase of only 50 basis points, after which a pause will be required to assess the measures taken.

Quotes of gold, traditionally protective assets, are supported by growing fears about a slowdown in the global economy. Also, the geopolitical risks associated with the development of a military conflict in Ukraine are not weakening yet, while the countries of the world are forced to deal with the consequences of a sharp increase in energy prices. Analysts are confident that rapid inflation on a global scale and a slowdown in economic growth can catalyze stagflation in the US economy, and the US Federal Reserve's measures to tighten monetary policy will be insufficient. It, in turn, will allow gold to regain investor interest and overcome the level of 2000.00.

An additional negative factor for the metal is the increase in the yield of US Treasury bonds amid expectations of further actions by the American regulator. As new signals for the asset, there is the talk about a possible restriction of Russian gold imports by European countries in the next sanctions packages from the EU. In particular, Denmark has previously announced such a possibility.

Support and resistance

On the daily chart, Bollinger bands are moderately declining: the price range narrows slightly from below, reflecting the ambiguous nature of trading in the short term. MACD falls, keeping a poor sell signal (the histogram is below the signal line). Stochastic falls, reversing downwards in the center of its working area. The current readings of technical indicators do not contradict the further development of the "bearish" dynamics in the nearest time intervals.

Resistance levels: 1843.37, 1857.27, 1869.49, 1878.84.
Support levels: 1823.09, 1800.00, 1775.00, 1752.87.

Trading tips

Short positions may be opened after a confident downward breakdown of 1823.09 with the target at 1800.00. Stop loss – 1835.00. Implementation period: 1–2 days.

Long positions may be opened after the rebound from 1823.09 and the breakout of 1843.37 with the target at 1869.49. Stop loss – 1830.00.

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[Antony_NPBFX]

AUD/USD: the instrument is consolidating around 0.6900 24.06.2022

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

Current trend

The Australian dollar shows corrective growth, winning back the losses of the previous two "bearish" sessions. The instrument is again testing the level of 0.6900 for a breakout, receiving support from the growth of corrective moods in the US currency. Investors are in a hurry to fix their profits, and also react to the publication of rather weak macroeconomic statistics from the US.

The data released the day before by S&P Global pointed to a drop in the index of business activity in the US Services sector from 53.4 to 51.6 points, while analysts had expected growth to 53.5 points. The Manufacturing PMI fell sharply from 57.0 to 52.4 points, which also turned out to be significantly worse than the market's expectations of a reduction to 56.0 points. The Composite PMI in June corrected from 53.6 to 51.2 points, while the forecast was at the level of 53.7 points.

Additional pressure on the markets yesterday was exerted by the speech of US Federal Reserve Chairman Jerome Powell in the US Senate, where the official again noted significant risks of expanding inflationary pressure within the country, recognizing the possibility of a recession due to the regulator's "hawkish" position. At the same time, the Fed intends to further tighten monetary policy, trying to return the Consumer Price Index to the target level of 2%.

In Australia, against the background of a lack of energy obtained with the help of solar panels and wind generators, a fuel crisis is rapidly developing. Last week, the Australian Energy Market Operator (AEMO) announced it was suspending market and capping wholesale electricity prices until June 23 due to the impossibility of uninterrupted supplies to consumers. Due to the existing deficit, local companies had to buy oil and gas in the spot markets, which contributed to a sharp increase in costs. The government is ready to return to coal-fired infrastructure, as Australian Resources Minister Madeleine King said earlier, noting that the resumption of such enterprises will provide an additional 30% of energy capacity and improve the situation with the energy supply on the east coast.

Support and resistance

Bollinger Bands on the daily chart show a steady decline. The price range is narrowing, reflecting the emergence of multidirectional trading dynamics in the short term. MACD is trying to reverse upwards keeping a previous sell signal (located below the signal line). Stochastic retains a downward direction, but is rapidly approaching its lows, indicating the risks of oversold Australian dollar in the ultra-short term.

Resistance levels: 0.6950, 0.7000, 0.7050, 0.7100.
Support levels: 0.6900, 0.6849, 0.6800, 0.6750.

Trading tips

Long positions can be opened after a breakout of 0.6950 with the target of 0.7050. Stop-loss — 0.6900. Implementation time: 2-3 days.

A rebound from 0.6950 as from resistance, followed by a breakdown of 0.6900 may become a signal for opening of new short positions with the target at 0.6800. Stop-loss — 0.6950.

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[Antony_NPBFX]

NZD/USD: the instrument develops a "bullish" momentum 27.06.2022

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

Current trend

The New Zealand dollar shows a moderate increase, developing a fairly confident "bullish" signal formed last Thursday. NZD/USD is trying to consolidate above 0.6300, receiving support from the publication of weak macroeconomic statistics from the US.

At the end of last week, Michigan Consumer Sentiment Index fell from 50.2 points to a new record low of 50.0 points, although analysts expected the index to remain unchanged. Today, investors expect the release of May data on the Durable Goods Orders dynamics. Forecasts suggest a sharp decline from 0.5% to 0.1% due in part to a sharp slowdown in vehicle purchases. On Wednesday, updated data on the dynamics of US GDP for Q1 2022 will be published. The indicator is expected to remain unchanged on the level of –1.5%.

Last weekend, it became known about the creation of the Partners in the Blue Pacific organization, which, in addition to Australia, Great Britain, Japan and the United States, also included New Zealand. It is noted that the main attention of the members of the alliance will focus on strengthening ties in various industries and economic interaction. In addition, the parties will develop measures to combat climate change, as well as to develop transport infrastructure, healthcare, and education. Experts agree that the main goal of creating a new alliance will be to counter the recent increased activity of China, which is trying to strengthen its position in the Pacific region.

Support and resistance

Bollinger Bands on the daily chart show a steady decline. The price range is narrowing, reflecting the emergence of multidirectional trading dynamics in the short term. MACD is growing preserving a weak buy signal (located above the signal line). Stochastic reversed upwards, never reaching the level of "20". At the moment, the instrument is located approximately in the center of its area, signaling in favor of the development of corrective growth in the nearest time intervals.

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

Resistance levels: 0.6350, 0.6400, 0.6450, 0.6500.
Support levels: 0.6300, 0.6244, 0.6200, 0.6156.

Trading tips

Long positions can be opened after a breakout of 0.6350 with the target of 0.6450. Stop-loss — 0.6300. Implementation time: 2-3 days.

A rebound from 0.6350 as from resistance, followed by a breakdown of 0.6300 may become a signal for opening of new short positions with the target at 0.6200. Stop-loss — 0.6350.

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[Antony_NPBFX]

USD/JPY: consolidation near record highs 29.06.2022

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

Current trend

The US dollar is showing mixed dynamics, testing 136.00 for a breakout. USD/JPY is building on its "bullish" momentum from earlier in the week, reacting to investor expectations for inflation to peak, fueled by the recent decline in commodity prices. In addition, the Chinese authorities intend to significantly ease the quarantine restrictions imposed due to the outbreak of COVID-19, which is likely to be a catalyst for economic recovery.

Traders are reluctant to open new positions in anticipation of the publication of updated data on the dynamics of US GDP for Q1 2022, although analysts do not predict any noticeable changes in the indicator. At the same time, speeches by the heads of the leading financial regulators, the US Federal Reserve, the Bank of England, and the European Central Bank (ECB), are expected today, which may shed light on the prospects for monetary policy in the US, the UK and the eurozone in the near future.

Significant support for the yen today is provided by quite optimistic macroeconomic statistics from Japan. Retail Sales in May increased by 0.6% after rising by 1.0% a month earlier, although analysts expected negative dynamics at the level of –0.1%, and in annual terms, the figure accelerated from 3.1% to 3.6%, which also turned out to be better than the predicted 3.3%. Large Retailer Sales over the same period showed a record acceleration from 4.0% to 8.5% instead of the expected slowdown to 1.3%.

In addition, Japan is increasing pressure on the Russian economy: for example, the day before, Prime Minister Fumio Kishida announced a ban on gold imports from the Russian Federation, which will apply to newly mined and processed metal. Moreover, Japanese companies are now prohibited from providing accounting, trust and some other financial services to Russian enterprises.

Support and resistance

Bollinger Bands in D1 chart show moderate growth. The price range expands slightly from above, freeing a path to new record highs for the "bulls". MACD is declining keeping a weak sell signal (located below the signal line). Stochastic, having shown an upward reversal at the beginning of the week, maintains an upward direction and is located near its highs, indicating the risks of the US dollar being overbought in the ultra-short term.

Resistance levels: 136.69, 137.50, 138.50, 139.50.
Support levels: 135.57, 134.54, 133.70, 133.00.

Trading tips

Long positions can be opened after a breakout of 136.69 with the target of 138.50. Stop-loss — 135.57. Implementation time: 1-2 days.

The breakdown of 135.57 may serve as a signal to open short positions with the target at 133.70. Stop-loss — 136.69.

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[Antony_NPBFX]

EUR/USD: the asset returned to decline 01.07.2022

Good afternoon, dear forum visitors!

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

Current trend

The European currency shows a downtrend, correcting after an attempt at corrective growth the day before, which eventually allowed EUR/USD to retreat from the local lows of June 16. The euro was supported by expectations of a tightening of monetary policy by the European Central Bank (ECB), with representatives of the regulator speaking in favor of a faster increase in interest rates amid worsening inflation forecasts.

Earlier, the ECB announced its readiness to adjust the value during the July meeting by 25 basis points, but one should not exclude the possibility of an increase by 50 basis points at once, to which the inflation data may push the regulator. The day before, for example, the markets paid attention to the dynamics of prices in Spain, which exceeded forecasts and reached 10%. Investors were also disappointed by statistics from Germany: Retail Sales in annual terms fell sharply by 3.6% in May after falling by 0.4% a month earlier. Analysts expected the negative dynamics to worsen, but expected only –2%. At the same time, in monthly terms, the indicator rose by 0.6% after a decrease of 5.4% in April. Investors also paid attention to statistics on the labor market: in June, the Unemployment Change in Germany increased by 133K, while earlier the figure showed a decrease of 4K and the Unemployment Rate accelerated from 5% to 5.3%. Such statistics are explained by the inclusion in the register of a large number of Ukrainian refugees who are forced to look for a job due to the further escalation of the conflict in Ukraine.

Serbian President Aleksandar Vučić announced his readiness to join the anti-Russian sanctions, noting that the country intends to look for alternative ways to obtain oil, despite its heavy dependence on resources. He noted that the oil refining infrastructure in Pancevo has used its maximum capacity, and in case of emergency, gasoline prices can rise significantly. Earlier, Vučić said that as part of the sixth package of sanctions, Serbia will stop importing oil from Russia from November this year, which will lead to additional spending from the national budget in the amount of 600 million dollars.

Support and resistance

In the D1 chart, Bollinger Bands are reversing horizontally. The price range is narrowing, while remaining spacious enough for the current activity level in the market. MACD is going down, keeping a fairly stable sell signal (located below the signal line). Stochastic, having approached the level of "20", reversed into a horizontal plane, indicating the risks of oversold EUR in the ultra-short term.

Resistance levels: 1.0500, 1.0550, 1.0600, 1.0640.
Support levels: 1.0450, 1.0400, 1.0350, 1.0300.

Trading tips

Short positions may be opened after a breakdown of 1.0400 with the target at 1.0300. Stop-loss — 1.0450. Implementation time: 2-3 days.

The breakout of 1.0500 may be a signal to open new long positions with the target of 1.0600. Stop-loss — 1.0450.

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.