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[Antony_NPBFX]

USD/CAD: dollar strengthened 08.02.2019

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

Yesterday, USD grew steadily against CAD, renewing its highs since January 25.

USD demand is high despite the poor macroeconomic data publication. In addition, traders actively discuss the possible postponing of the planned meeting between US President Donald Trump and Chinese Chairman Xi Jinping. Analysts say the meeting is unlikely before the March deadline, which was set by both countries to conclude a final trade transaction. In general, optimism around the possible completion of the US-Chinese trade conflict has been declining lately, and the White House economic adviser Larry Kudlow said that the countries are still far from the deal.

Today, investors wait for January labor market data in Canada. Analysts' forecasts are quite pessimistic. In particular, the January Unemployment Rate is expected to increase from 5.6% to 5.7%, and the Employment Number will increase by only 8K after rising by 9.3K in December.

Support and resistance

On the daily chart, Bollinger bands move flat. The price range is virtually unchanged but remains quite wide for the current activity level. MACD grows, keeping a strong buy signal (the histogram is above the signal line). Stochastic rises almost vertically but is in near the level of 100, which signals that USD can become overbought in the super-short and short term.

The current readings do not contradict the development of the “bullish” trend in the short term.

Resistance levels: 1.3327, 1.3374, 1.3443.

Support levels: 1.3284, 1.3247, 1.3200, 1.3164.

Trading tips

Long positions can be opened after the breakout of 1.3327 with the target at 1.3443. Stop loss is 1.3284.

Short positions can be opened after the rebound from 1.3327 and the breakdown of 1.3284 with the target at 1.3200 or 1.3164. Stop loss is 1.3327.

Implementation period: 2–3 days.

Use more opportunities of the NPBFX analytical portal:glossary.

Beginning traders certainly face a lot of specialized concepts and lexicon on FOREX, which are often not fully been understood. Swap, tick, hedge, margin calls are often unfamiliar to beginning traders. But the lack of knowledge of these fundamentals make a competent market vision impossible. So glossary on the NPBFX analytical portal could be an excellent helper in this case, which contains all the main definitions with explanations in a compact and accessible form. All concepts are arranged in alphabetical order, so that you can easily and quickly find and explore a new concept for yourself.

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

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

 

[Antony_NPBFX]

USD/JPY: the pair moves flat 11.02.2019

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, USD is growing within the correction after the “bearish” end of the last week. The instrument is supported by positive news around the US-PRC trade conflict. As it became known, the final meeting of the heads of the countries will be held in Beijing on February 14–15.

Investors continue to respond to the negative macroeconomic statistics, published in Japan last Friday. In particular, in December the Household Spending indicator increased by only 0.1% YoY against the forecast of +0.8% YoY after falling by 0.6% YoY in November, while wages rose moderately from +1.7% YoY to +1.8% YoY, as experts expected. The January Economy Watchers Current Index was revised downwards from 46.8 to 45.6 points, despite the expected increase to 48.6 points.

Support and resistance

On the daily chart, Bollinger bands grow moderately. The price range is virtually unchanged but remains quite wide for the current level of the market activity. MACD rises, keeping a poor buy signal (the histogram is above the signal line), and is preparing to test the zero line for a breakout. However, Stochastic is directed downwards and is still not responding to the appearance of today's “bullish” dynamics.

It is better to wait until the trading signals are clear before opening new positions.

Resistance levels: 110.00, 110.45, 111.00.

Support levels: 109.54, 109.07, 108.48, 108.00.

Trading tips

Long positions can be opened after the breakout of 110.00–110.20 with the target at 111.00. Stop loss is 109.70–109.80.

Short positions can be opened after the rebound from 110.00 and the breakdown of 109.54 with the targets at 109.07 or 108.70–108.48. Stop loss is 110.00.

Implementation period: 2–3 days.

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

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

 

[Antony_NPBFX]

AUD/USD: wave analysis 13.02.2019

Good afternoon, dear forum visitors!

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

The pair may grow.

On the 4-hour chart, an upward correction of the higher level develops as the wave 2 of (5). Now the wave b of 2 has formed, and the development of the wave c of 2 is beginning. If the assumption is correct, the pair will grow to the levels of 0.7348–0.7534. In this scenario, critical stop loss level is 0.7050.

Main scenario

Long positions will become relevant above the level of 0.7050 with the targets at 0.7348–0.7534. Implementation period: 7 days and more.

Alternative scenario

The breakdown and the consolidation of the price below the level of 0.7050 will let the pair go down to the levels of 0.6961–0.6880.

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

 

[Antony_NPBFX]

USD/CAD: wave analysis 15.02.2019

Good afternoon, dear forum visitors!

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

The pair may grow.

On the 4-hour chart, the third wave of the higher level 3 develops, within which the wave ii of 3 ended. Now the entry wave of the lower level (i) of iii of 3 has formed, and a local correction developed as the wave (ii) of iii. If the assumption is correct, the pair will grow to the level of 1.3661. In this scenario, critical stop loss level is 1.3188.

Main scenario

Long positions will become relevant during the correction, above the level of 1.3188 with the target at 1.3661. Implementation period: 7 days and more.

Alternative scenario

The breakdown and the consolidation of the price below the level of 1.3188 will let the pair go down to the level of 1.3067.

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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/CAD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

Brent Crude Oil: oil prices are growing 18.02.2019

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

Oil prices continue to grow moderately, updating local highs since the end of November.

Quotes are supported by decisive actions of OPEC countries aimed at further reducing production. Last week, Saudi Arabia announced a reduction in March by 0.5 million barrels per day, in addition to what the agreement originally required. The instrument is supported by new US sanctions against Venezuela, as well as increased tensions in the Libyan fields.

In turn, the Baker Hughes report on active drilling rigs in the United States published on February 15 put some pressure on prices. Over the past week, the number of drilling rigs in the country increased from 854 to 857 units.

Support and resistance

The Bollinger Bands in D1 chart show moderate growth. The price range is expanding, however, failing to follow the “bullish” trend, which indicates risks of the overbought instrument in the short term. MACD indicator is growing preserving a stable buy signal (the histogram is above the signal line). Stochastic, having reached its maxima, reversed horizontally, indicating a strong overbought instrument in the ultra-short term.

One should keep long positions in the short and/or ultra-short term until the signals for a downward correction appear. Currently, one should not open the new "bullish" positions.

Resistance levels: 67.00, 67.47, 67.85, 68.20.

Support levels: 66.06, 65.50, 65.00, 64.42.

Trading tips

To open long positions, one can rely on the breakout of 67.00. Take profit — 67.85 or 68.20. Stop loss – 66.20. Implementation period: 1-2 days.

The return of "bearish" dynamics with the breakdown of 66.06 or 65.80 may become a signal for correctional sales with the target at 64.42 or 64.00. Stop loss – 66.80-66.60. Implementation period: 2-3 days.

Use more opportunities of the NPBFX analytical portal:glossary

Beginning traders certainly face a lot of specialized concepts and lexicon on FOREX, which are often not fully been understood. Swap, tick, hedge, margin calls are often unfamiliar to beginning traders. But the lack of knowledge of these fundamentals make a competent market vision impossible. So glossary on the NPBFX analytical portal could be an excellent helper in this case, which contains all the main definitions with explanations in a compact and accessible form. All concepts are arranged in alphabetical order, so that you can easily and quickly find and explore a new concept for yourself.

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

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

 

[Antony_NPBFX]

GBP/USD: GBP is strengthening 20.02.2019

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 showed a sharp rise against the US dollar on Tuesday, marking a new local maximum since February 4.

The pound was strongly supported by data from the labor market, which inspired confidence in the stability of the economy in front of Brexit. The average salary (with premiums) in December increased by 3,4% 3MoY, which coincided with the data of last month and is the most powerful positive dynamics over the past 10 years. Still, analysts expected a slightly stronger growth (3.5% 3MoY). In December, The number employed increased by 167K, which turned out to be better than analysts' forecasts of 140K. The employment rate was the best since the beginning of 2018.

Today, investors are focused on the meeting of British Prime Minister Theresa May with the head of the European Commission, Jean-Claude Juncker.

Support and resistance

On the D1 chart, Bollinger Bands are reversing horisontally. The price range is trying to consolidate within a fairly wide range, corresponding to the observed dynamics. MACD indicator is growing preserving a stable buy signal (the histogram is above the signal line). Stochastic keeps a confident upward trend but is located near its maximum levels, signaling the overbought pound in the ultra-short term.

The showings of the indicators do not contradict the further development of the "bullish" trend in the short and/or ultra-short term.

Resistance levels: 1.3100, 1.3139, 1.3173, 1.3216.

Support levels: 1.3054, 1.3000, 1.2957, 1.2917.

Trading tips

To open long positions, one can rely on the breakout of 1.3100. Take profit — 1.3173 or 1.3216. Stop loss – 1.3054.

A reverse near the current level, followed by a breakdown of 1.3054-1.3020, may become a signal for corrective sales with the target at 1.2957 or 1.2917. Stop loss — 1.3060 or 1.3100.

Implementation period: 2-3 days.

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

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

 

[Antony_NPBFX]

USD/CHF: dollar strengthens 22.02.2019

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

Yesterday, USD rose slightly against CHF. In the morning, the position of the instrument was supported by poor macroeconomic statistics from Europe. With the opening of the American session and the publication of ambiguous statistics from the US, “bullish” activity has noticeably decreased, and investors have increasingly begun to close the profitable positions.

In February, EU Markit composite index of business activity in the manufacturing sector rose from 51.0 to 51.4 points, which turned out to be better than analysts' expectations of 51.1 points. At the same time, the usual index for the same period decreased from 50.5 to 49.2 points while the forecast was 50.3 points. Germany made a significant contribution to the weakening of the activity index in the manufacturing sector. February German index fell from 49.7 to 47.6 points, recalling the problems in the country's economy.

Support and resistance

On the daily chart, Bollinger bands are reversing horizontally. The price range tries to consolidate within fairly spacious (given the low activity on the instrument) boundaries. The MACD indicator is falling, keeping a poor sell signal (the histogram is below the signal line). Stochastic, reaching 20, is trying to reverse into the ascending plane.

The current indicator readings reflect the risks of oversold US currency in the short and/or ultra-short term. The development of correctional growth is possible.

Resistance levels: 1.0022, 1.0050, 1.0073, 1.0097.

Support levels: 1.0000, 0.9980, 0.9962, 0.9933.

Trading tips

Long positions can be opened after the breakout of the levels of 1.0022–1.0030 with the target at 1.0073. Stop loss is 1.0010–1.0000.

Short positions can be opened after the breakdown of the level of 1.0000 with the target at 0.9962. Stop loss is 1.0015.
Implementation period: 2–3 days.


Use more opportunities of the NPBFX analytical portal: economic calendar.

Be ready for any market changes through global events using the economic calendar on the NPBFX portal. The calendar contains all the most important events of the world economy and prognoses for them. In order to get free and unlimited access to the economic calendar and other useful instruments on the portal, you need to pass a one-time registration on the NPBFX website.

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

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

 

[Antony_NPBFX]

XAG/USD: silver prices are rising 25.02.2019

Good afternoon, dear forum visitors!

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

Current trend

On Friday, silver prices rose markedly, balancing a sharp Thursday’s decline partially. During the Asian session on February 25, the instrument grows, moderately supported by low investors’ interest in risk. Traders wait for the resolution of the US-China trade conflict in order to concentrate on other market drivers. Additional support for the course provides uncertainty in Europe. In addition to the process of Brexit, investors are concerned about another round of political crisis in Italy and a significant slowdown in the German economy.

On the other hand, the instrument is under pressure from recent Fed’s comments, which has slightly changed its position on further interest rate growth. The regulator still refers to an unstable external economic background but at the same time, some board members are in favor of tightening policies in the second half of 2019.

Support and resistance

On the daily chart, Bollinger bands moderately grow. The price range expands from above, letting the “bulls” renew local highs. MACD increases, keeping a poor buy signal (the histogram is above the signal line). Stochastic falls and does not react to growth.

It is better to wait until the situation is clear and to keep part of current long positions in the short and/or super short term for some time.

Resistance levels: 15.96, 16.05, 16.18, 16.28.

Support levels: 15.84, 15.74, 15.66, 15.58, 15.46, 15.40, 15.21, 15.09, 15.00.

Trading tips

Long positions can be opened after the breakout of 15.96 with the target at 16.18 or 16.28. Stop loss – 15.84. Implementation period: 1–2 days.

Short positions can be opened after the rebound from 15.96 and the breakdown of 15.84 with the targets at 15.58 or 15.50–15.46. Stop loss – 15.96. Implementation period: 2–3 days.

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[Antony_NPBFX]

AUD/USD: Australian Dollar strengthens 27.02.2019

Good afternoon, dear forum visitors!

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

Current trend

Today, during the Asian session, AUD is slightly rising, trading around weekly highs with moderate support from poor US dollar positions. In addition, investors expect a positive resolution of the trade conflict between the United States and China. Meanwhile, the macroeconomic background of Australia remains ambiguous. Wednesday’s 2018 Q4 Construction Work Done release declined by 3.1% QoQ after a decline by 2.8% QoQ in the previous period. Investors were counting on a positive trend of +0.4% QoQ.

Support and resistance

On the daily chart, Bollinger bands are slightly increasing. The price range widens from above but not as fast as the “bullish” dynamics is developing. MACD indicator rises, keeping a relatively strong buy signal (the histogram is above the signal line), and is trying to consolidate above the zero line. Stochastic is growing steadily since the end of the last trading week and is approaching its highs again, which indicates that AUD can become overbought in the super-short term.

The current readings of technical indicators do not contradict the further development of the “bullish” trend in the short and/or ultra-short term.

Resistance levels: 0.7200, 0.7234, 0.7263, 0.7300.

Support levels: 0.7173, 0.7159, 0.7142, 0.7116.

Trading tips

Long positions can be opened after the breakout of the level of 0.7200 with the target at 0.7263. Stop loss is 0.7173.

Short positions can be opened after the breakdown of the level of 0.7159 with the target at 0.7100 or 0.7090. Stop loss is 0.7180–0.7190.

Implementation period: 2–3 days.

Use more opportunities of the NPBFX analytical portal: analytics.

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

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

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

 

[Antony_NPBFX]

USD/CAD: the pair is trading ambiguously 01.03.2019

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

Yesterday, USD rose against CAD but failed to consolidate at the occupied positions and lost almost all the advantage by the time of the closing of the daily session.

American macroeconomic statistics, published on Thursday, did not significantly support USD. According to preliminary estimates, the 2018 Q4 GDP rose by 2.6% YoY after rising by 3.4% YoY in the third quarter. Despite a significant slowdown in economic growth, the published figure was still much better than the forecasts, suggested a rise of +2.3% YoY. However, Canadian data was not better, reflecting the growth of the 2018 Q4 payments deficit balance from 10.11 billion to 15.4 billion CAD.

Today, investors are focused on US statistics on personal incomes and expenditures in December, as well as the February data block on business activity. In Canada, the 2018 Q4 annual GDP data and Manufacturing PMI will be released.

Support and resistance

On the daily chart, Bollinger bands moderately reduced. The price range narrows, reflecting the ambiguous trading nature in the short term. MACD grows, keeping a poor buy signal (the histogram is above the signal line). Stochastic reversed horizontally after a short growth at the beginning of the week.

The current indicators’ readings remain controversial. It is better to wait until the situation is clear.

Resistance levels: 1.3200, 1.3241, 1.3284, 1.3327.

Support levels: 1.3149, 1.3100, 1.3067, 1.3000.

Trading tips

Long positions can be opened after the breakout of 1.3200 with the target at 1.3284. Stop loss is 1.3160.

Short positions can be opened after the breakdown of 1.3149 with the target at 1.3067 or 1.3040. Stop loss is no further than 1.3200.

Implementation period: 2–3 days.

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

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

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

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

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