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[Antony_NPBFX]

XAU/USD: stabilization after last week's decline 24.01.2022

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 consolidating near the level of 1835.00 after a corrective decline at the end of last week, when the XAU/USD pair retreated from its local highs of November 22.

Significant support for metal quotes is still provided by the risks of the total spread of inflation as the world economy recovers. At the same time, investors are in no hurry to open new long positions in anticipation of the start of the US Federal Reserve's interest rate hike cycle. The first of them may take place as early as March, and four adjustments of the indicator are expected during 2022. Also, in the summer, the regulator may announce the start of a noticeable reduction in its balance sheet.

Gold is also strengthening against the backdrop of ongoing epidemiological risks. The incidence of coronavirus remains quite high, and production continues to face supply chain disruption problems.

Support and resistance

On the daily chart, Bollinger Bands reverse into a horizontal plane. The price range expands above, letting the "bulls" renew local highs.

MACD is growing, keeping a poor buy signal (the histogram is above the signal line). Stochastic reversed at the level of 80 downwards and signals in favor of developing a corrective decline in the next time intervals.

It is better to pay attention to the possibility of downward signals developing in the short and/or ultra-short term.

Resistance levels: 1840.00, 1847.63, 1860.00.
Support levels: 1831.66, 1823.09, 1814.06, 1805.50.

Trading tips

Long positions may be opened after the breakout of 1840.00 with the target at 1860.00. Stop loss – 1831.66. Implementation period: 2–3 days.

Short positions may be opened after the rebound from 1840.00 as a resistance and the breakdown of 1831.66 with the target at 1814.06. Stop loss – 1840.00.

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[Antony_NPBFX]

GBP/USD: the pound tests the level of 1.3500 for a breakout 26.01.2022

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 currency demonstrates upward trading dynamics during the morning session on January 26, recovering from local lows of the beginning of the month and testing for a breakout the strong resistance around 1.3500. The growth is more of a technical nature since the fundamental factors change slightly.

Today, the key event will be the decision of the US Federal Reserve on the interest rate, and therefore investors are in no hurry to open new long dollar positions. However, the regulator is unlikely to surprise the markets, although officials' comments and renewed forecasts for the future can play an important role. On January 11, the chairman of the department, Jerome Powell, announced a clear sequence of actions to normalize monetary policy in the country: the quantitative easing (QE) program will end in March, and then several key rate increases are planned throughout the year. Investors expect the first increase in March from US officials, with four such adjustments scheduled for 2022.

Yesterday's US macroeconomic data provided minor support to the dollar. Thus, the housing price index in November strengthened by 1.1%, maintaining the previous month's growth rate, while analysts expected the index to slow down to 1.0%. The housing price index from S&P/CaseShiller over the same period slowed down from 18.5% to 18.3%, while the market expected a decrease to 18%.

Support and resistance

Bollinger bands smoothly reverse downwards on the daily chart: the price range expands from below, letting the "bears" renew local lows. MACD also decreases, keeping a strong sell signal (the histogram is below the signal line). Having approached its lows, Stochastic reversed into an upward plane, signaling in favor of a corrective growth of the pound in the ultra-short term.

Resistance levels: 1.3500, 1.3550, 1.3600, 1.3650.
Support levels: 1.3460, 1.3435, 1.3400, 1.3350.

Trading tips

Long positions may be opened after the breakout of 1.3550 with the target at 1.3650. Stop loss – 1.3500. Implementation period: 2–3 days.

Short positions may be opened after the rebound from 1.3550 as resistance, followed by the breakdown of 1.3500, with the target at 1.3400. Stop loss – 1.3550.

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

 

[Antony_NPBFX]

EUR/USD: "bearish" sentiment in the asset is intensifying 28.01.2022

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 ambiguous dynamics of trading against the US dollar during today's Asian session, consolidating near the level of 1.1150. The day before, EUR/USD showed a steady decline, as a result of which it updated record lows from June 2, 2020.

The reason for the strengthening of "bearish" sentiment yesterday was the strong data on the dynamics of US GDP for Q4 2021. The US economy expanded 6.9% in Q4 after expanding 2.3% in the prior period. Analysts had expected growth of only 5.5%. The published statistics correlate with the words of the Chair of the US Federal Reserve, Jerome Powell, who commented on the prospects for the regulator's monetary policy on Wednesday. The official noted the achievements of the American economy and said that board members are considering a rate hike as early as March. Moreover, under certain circumstances, the regulator can adjust the rate by 50 basis points at once.

Today, investors will be focused on statistics on the dynamics of German GDP for Q4 2021. Also during the day there will be a report on business sentiment in the euro area for January.

Support and resistance

Bollinger Bands in D1 chart demonstrate a stable decrease. The price range is expanding; however, it fails to catch the surge of the "bearish" sentiment at the moment. MACD is going down preserving a stable sell signal (located below the signal line). Stochastic keeps a confident downward direction but is already approaching its lows, which indicates the risks of oversold EUR in the ultra-short term.

Resistance levels: 1.1185, 1.1220, 1.1255, 1.1300.
Support levels: 1.1130, 1.1100, 1.1054, 1.1000.

Trading tips

To open short positions, one can rely on the breakdown of 1.1130 with the target at 1.1054. Stop loss – 1.1170. Implementation time: 1-2 days.

A rebound from 1.1130 as from support followed by a breakout of 1.1185 may become a signal for new purchases with the target at 1.1300. Stop-loss – 1.1130.

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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]

GBP/USD: pound develops corrective growth 31.01.2022

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 shows the uptrend at trading against the US currency during the morning session, testing the level of 1.3400 for a breakout. The instrument wins back its losses recorded last week, as a result of which GBP/USD updated local lows from December 23. Technical factors remain the main "bullish" driver at the moment, while the macroeconomic background from the UK is changing slightly.

In turn, data from the US released on Friday put additional pressure on the positions of the US currency. The volume of Personal Income in December slowed down from 0.5% to 0.3%, which turned out to be worse than the neutral forecasts of experts. Personal Spending for the same period decreased by 0.6% after rising by 0.4% a month earlier. Michigan Consumer Confidence Index in January fell from 68.8 to 67.2 points, which turned out to be worse than the average market forecasts of a decline to only 68.7 points.

Support and resistance

Bollinger Bands in D1 chart demonstrate a stable decrease. The price range is expanding, 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, located near its lows, is trying to reverse upwards, indicating the development of corrective dynamics in the ultra-short term.

Resistance levels: 1.3435, 1.3460, 1.3500, 1.3550.
Support levels: 1.3400, 1.3350, 1.3300.

Trading tips

To open long positions, one can rely on the breakout of 1.3435 with the target at 1.3550. Stop loss – 1.3380. Implementation time: 2-3 days.

The return of a "bearish" trend with the breakdown of 1.3350 may become a signal for new sales with the target at 1.3250. Stop-loss – 1.3400.

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]

EUR/USD: the euro develops a corrective impetus 02.02.2022

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 weak growth against the US dollar during the Asian session, developing the corrective momentum formed at the beginning of the week and updating the local highs from January 26.

The instrument is moderately supported by the growing interest of investors in risky assets against the backdrop of discussions on the prospects for tightening monetary policy by the US Fed. At the moment, it is not clear whether the US regulator will decide on five or even more interest rate hikes this year, and whether the figure will be adjusted immediately by 50 basis points. The European Central Bank (ECB), in turn, relieved the markets of unnecessary expectations in advance, declaring its readiness to adjust existing parameters, focusing on the epidemiological situation caused by the spread of COVID-19, which is putting significant pressure on the region's economy.

Macroeconomic statistics from Europe published on Tuesday turned out to be moderately optimistic. Investors reacted rather positively to the decline in the Unemployment Rate in Germany from 5.2% to 5.1%, while the Unemployment Change fell by 48K in January after a decrease of 29K a month earlier (expert forecasts assumed a decline of only 6K).

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 grows, preserving a stable buy signal (located above the signal line). Stochastic shows an upward direction but is rapidly approaching its highs, which reflects the risks of overbought EUR in the ultra-short term.

Resistance levels: 1.1300, 1.1363, 1.1400, 1.1422.
Support levels: 1.1255, 1.1220, 1.1185, 1.1130.

Trading tips

To open long positions, one can rely on the breakout of 1.1300 with the target at 1.1400. Stop-loss – 1.1255. Implementation time: 2-3 days.

A rebound from 1.1300 as from resistance followed by a breakdown of 1.1255 may become a signal for new sales with the target at 1.1150. Stop-loss – 1.1300.

Use more opportunities of the NPBFX analytical portal: analytics

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

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

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

 

[Antony_NPBFX]

NZD/USD: rising amid strong demand for risky assets 04.02.2022

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

During the Asian session, the NZD/USD pair grows slightly, renewing local highs since January 26.

The macroeconomic statistics from the USA, published on Thursday, were ambiguous. Thus, Initial Jobless Claims for the week of January 28 decreased from 261K to 238K, better than market forecasts of a fall to 245K. Markit Service PMI was also positive, rising from 50.9 to 51.2 points for January, exceeding the neutral forecasts. In turn, ISM Service PMI for the same period fell from 62.3 to 59.9 points, which was slightly better than investors' expectations of 59.5 points. Traders were also disappointed by the volume of industrial orders, which fell by 0.4% for December after rising by 1.8% in the previous period. Analysts had expected a decline of 0.2%.

Support and resistance

On the daily chart, Bollinger Bands are steadily declining. The price range is narrowing from below, reflecting the emergence of flat trading dynamics in the short term. The MACD indicator grows, keeping a strong buy signal (the histogram is above the signal line). Stochastic shows similar dynamics, approaching its highs, which indicates that NZD may become overbought in the ultra-short term.

Resistance levels: 0.6700, 0.6732, 0.6761, 0.6800.
Support levels: 0.6650, 0.6600, 0.6528, 0.6500.

Trading tips

Long positions may be opened after the breakout of 0.6700 with the target at 0.6800. Stop loss – 0.6650. Implementation period: 2–3 days.

Short positions may be opened after the rebound from 0.6700 and the breakdown of 0.6650 with the target at 0.6550. Stop loss – 0.6700.


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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 NZD/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

USD/JPY: the US dollar develops "bullish" dynamics 07.02.2022

Good afternoon, dear forum visitors!

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

Current trend

The US dollar shows weak growth against the Japanese yen in Asian trading, developing a "bullish" signal formed last Thursday.

Noticeable support for the US currency is provided by a strong report on the US labor market, which was published on Friday and surpassed most forecasts. The American economy has created nearly 470K new jobs, just short of the 510K recorded in December. At the same time, there is also an increase in hourly wages. The only negative moment was the growth of the Unemployment Rate in January from 3.9% to 4.0%. The data obtained testify in favor of further tightening of monetary policy by the US Federal Reserve. Investors expect an increase in the key interest rate already during the March meeting of the regulator, and it can be adjusted immediately by 50 basis points.

Macroeconomic data released today in Japan did not have a significant impact on the yen. Coincident Index in December fell from 92.8 to 92.6 points with the forecast of growth to 94.7 points.

Support and resistance

Bollinger Bands in D1 chart show weak growth. The price range expands from above, freeing a path to new local highs for the "bulls". MACD is growing preserving a weak buy signal (located above the signal line). Stochastic is showing similar dynamics; however, the indicator line is already approaching its highs, indicating the risks of overbought dollar in the ultra-short term.

Resistance levels: 115.50, 116.00, 116.34, 117.00.
Support levels: 115.00, 114.50, 114.00, 113.50.

Trading tips

To open long positions, one can rely on the breakout of 115.50 with the target at 116.34. Stop-loss – 115.10. Implementation time: 2-3 days.

A rebound from 115.50 as from resistance followed by a breakdown of 115.00 may become a signal for new sales with the target at 114.00. Stop-loss — 115.50.

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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 USD/JPY and trade efficiently with NPBFX.

 

[Antony_NPBFX]

XAU/USD: gold renews local highs 09.02.2022

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

During the Asian session, gold prices are rising moderately, developing the "bullish" momentum since the beginning of the month and recovering from a sharp decline at the end of January. Supported by relatively poor positions in the American currency, the instrument approached testing the level of 1830.00 for a breakout upwards. Also, the "bulls" on the dollar are waiting for the data on consumer inflation in the US for January, hoping that they will become another signal in favor of a faster tightening of monetary policy by the US Federal Reserve. In turn, a further increase in gold quotes is hindered by a noticeable increase in the yield of treasury bonds both in the US and in Europe.

The US macroeconomic statistics released yesterday did not provide any noticeable support to the dollar. Thus, the business optimism index from the NFIB for January fell from 98.9 to 97.1 points. The index of economic optimism from IBD/TIPP retreated from 44.7 to 44.0 points in February, while the forecasts suggested that the indicator would increase to 47.2 points.

Support and resistance

On the daily chart, Bollinger bands reverse into a horizontal plane. The price range narrow, indicating the emergence of ambiguous trading dynamics in the short/medium term. The MACD indicator grows, keeping a strong buy signal (the histogram is above the signal line). Stochastic remains in a confident upward direction but is close to its highs, indicating that gold may become overbought in the ultra-short term.

Resistance levels: 1831.66, 1840.00, 1847.63, 1853.57.
Support levels: 1823.09, 1814.06, 1805.50, 1800.00.

Trading tips

Long positions may be opened after the breakout of 1831.66 with the target at 1847.63. Stop loss – 1823.09. Implementation period: 1–2 days.

Short positions may be opened after the rebound from 1831.66 and the breakdown of 1823.09 with the target at 1805.50. Stop loss – 1831.66.

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

How can a trader determine if it’s worth buying or selling XAU/USD now or better waiting for a more favorable period? Use trading signals for commodities from the top 10 technical indicators on the NPBFX portal and make the right decisions! All registered users have free and unlimited access to the minutely updated trading signals (MA10, BBands, Ichimoku, Stochastic, ZigZag, etc.) for Gold, Silver, Brent and WTI Crude oil.

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

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

 

[Antony_NPBFX]

AUD/USD: Australian currency updates local lows 11.02.2022

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

The Australian dollar is developing a strong "bearish" momentum in tandem with the US currency, testing the level of 0.7120 for a breakdown and updating local lows from February 8.

In addition to technical correction factors at the end of the week, the downtrend was facilitated by strong macroeconomic statistics on inflation in the US, published the day before. The data showed a further acceleration in domestic consumer inflation to 7.5%, which is likely to require the US Federal Reserve to tighten monetary policy sooner during 2022. The start of the interest rate hike cycle is expected in March, when the quantitative easing (QE) program comes to an end.

The focus of investors today will also be on the Fed Monetary Policy Report and data on Michigan Consumer Sentiment Index for February.

Support and resistance

In the D1 chart, Bollinger Bands are reversing horizontally. The price range is almost unchanged, but it remains rather spacious for the current level of activity in the market. MACD is reversing downwards preserving the previous weak buy signal (located above the signal line). Stochastic, having rebounded from the level of "80" is declining, signaling in favor of the development of correctional dynamics in the ultra-short term.

Current showings of the indicators do not contradict the further development of the "bearish" trend in the short term.

Resistance levels: 0.7160, 0.7200, 0.7250, 0.7300.
Support levels: 0.7100, 0.7050, 0.7000, 0.6950.

Trading tips

To open new short positions, one can rely on the breakdown of 0.7100 with the target at 0.7000. Stop-loss — 0.7150. Implementation time: 1-2 days.

A rebound from 0.7100 as from support followed by a breakout of 0.7160 may become a signal for opening new long positions with the target at 0.7250. Stop-loss – 0.7100.

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: interest rate hike risks support the US dollar 14.02.2022

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 US dollar shows ambiguous dynamics of trading against the Canadian currency during today's Asian session, holding near 1.2730.

The instrument managed to demonstrate a moderate positive trend at the end of last week, which was supported by expectations of a further increase in the interest rate by the US Fed against the backdrop of a sharp rise in inflation in the country by 7.5%, which is the highest level since February 1982. Analysts' forecasts assumed an increase of only 7.3% and at the end of December 2021, inflation in the country grew by only 7.0%.

The Canadian dollar, in turn, is still under pressure from a weak report on the labor market, released at the beginning of the month, and expects new drivers for possible growth. On Wednesday, Canada will release a block of macroeconomic statistics on the dynamics of consumer prices in January. On the same day, Timothy Lane, the member of the Board of Governors of the Bank of Canada, will make a speech.

Support and resistance

Bollinger Bands in D1 chart show weak growth. The price range is actively narrowing, pointing at the ambiguous nature of trading in the short term. MACD is growing preserving a weak buy signal (located above the signal line). Stochastic grows more steadily but is rapidly approaching its highs, which reflects risks of the overbought USD in the ultra-short term.

Resistance levels: 1.2750, 1.2786, 1.2812, 1.2850.
Support levels: 1.2700, 1.2650, 1.2600, 1.2558.

Trading tips

To open long positions, one can rely on the breakout of 1.2750 with the target at 1.2850. Stop-loss – 1.2700. Implementation time: 2-3 days.

A rebound from 1.2750 as from resistance, followed by a breakdown of 1.2700 may become a signal for new sales with the target at 1.2600. Stop-loss – 1.2750.

Use more opportunities of the NPBFX analytical portal: economic calendar

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

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

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