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[Antony_NPBFX]

AUD/USD: USD is declining 09.11.2020

Good afternoon, dear forum visitors!

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

Current trend

AUD is moderately strengthening against USD during today's Asian session, trading at new local highs since September 21. The instrument is supported by weak positions on USD, which remains under pressure from the results of the US presidential race. According to preliminary results, Democrat Joe Biden is likely to become the new US President, which will entail a sharp increase in economic stimulus and the repeal of a number of controversial laws passed under Donald Trump's administration.

Friday's macroeconomic statistics from the USA provided moderate support to USD. Nonfarm Payrolls rose by 638K in October after increasing by 672K in the previous month. Experts expected the growth by 600K only. At the same time, the Unemployment Rate in October fell sharply from 7.9% to 6.9%, which turned out to be significantly better than the forecasts of a decrease only to 7.7%.

Support and resistance

Bollinger Bands in D1 chart show moderate growth. The price range is expanding, but it fails to catch the development of the uptrend in the nearest future. MACD indicator is growing preserving a stable buy signal (located above the signal line). Stochastic, having shown an attempt to reverse into a horizontal plane at the end of the last trading week, returned to growth again, approaching the level of "100" and indicating a strongly overbought AUD in the nearest time intervals.

Resistance levels: 0.7300, 0.7323, 0.7360, 0.7400.
Support levels: 0.7274, 0.7241, 0.7200, 0.7170.

Trading tips

To open long positions, one can rely on the breakout of 0.7300 or 0.7323 with the target at 0.7400. Stop-loss – 0.7250. Implementation time: 2-3 days.

A rebound from 0.7300 as from resistance followed by a breakdown of 0.7274 may become a signal for new sales with the target at 0.7200. Stop-loss – 0.7323.

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

You can learn more about the current situation on AUD/USD and get acquainted with the weekly analytical forecast in the "Video reviews" section on the NPBFX portal. Weekly video reviews contain trends, key levels, trading recommendations for such popular instruments as EUR/USD, GBP/USD, USD/JPY, AUD/USD. In order to get free and unlimited access to video forecast and other useful instruments on the portal, you need to register on the NPBFX website.

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

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

 

[Antony_NPBFX]

XAU/USD: gold is recovering

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 continue their recovery growth during today's Asian session, approaching 1900.00. The emergence of the uptrend for the instrument is facilitated by technical factors, while fundamentally the market situation changes little. The pressure on "safe" gold is coming from the upbeat news of a COVID-19 vaccine trial from Pfizer and BioNTech. According to the vaccine developer, an active vaccination campaign can be launched as early as next year, but the question is still open whether the resulting immunity will last for a long time and what side risks exist. In addition, it seems that the situation with the approval of a new package of financial stimulus for the American economy is complicated again, this time by Donald Trump's desire to challenge the preliminary results of the US presidential election.

Support and resistance

In the D1 chart, Bollinger Bands are reversing horizontally. The price range is expanded from below reflecting a remaining "bearish" impulse in the short term. MACD is going down keeping a fairly stable sell signal (located below the signal line). The indicator is trying to consolidate below the zero level. Stochastic is showing similar dynamics; however, the indicator line is rapidly approaching its lows, indicating the risks of oversold instrument in the ultra-short term.

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

Resistance levels: 1890.18, 1900.00, 1910.00, 1920.82.
Support levels: 1872.80, 1859.87, 1850.00, 1830.00.

Trading tips

To open long positions, one can rely on the breakout of 1890.18. Take-profit – 1910.00–1920.82. Stop-loss – 1875.00. Implementation time: 2-3 days.

The breakdown of 1872.80 may serve as a signal to new sales with the target at 1850.00. Stop-loss – 1885.00.

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

 

[Antony_NPBFX]

GBP/USD: the pair declines 13.11.2020

Good afternoon, dear forum visitors!

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

Current trend

The GBP/USD pair moves within the downward trend, trading around 1.3122.

GBP is decreasing under the influence of negative macroeconomic reports released yesterday. Q3 GDP was higher than –19.8% over the previous period and amounted to 15.5% but fell short of analysts' expectations at 15.8%. Annual GDP also was below the forecast of –9.4% and amounted to –9.6%. Manufacturing output reached 0.2% in September, down from 0.9% in August. The level of industrial production was 0.5%, which is worse than the forecast of 0.8%.

The US dollar continues to moderately recover, and the USD Index is around 93.000. The currency was supported by data on the number of initial claims for unemployment benefits, which amounted to 709K instead of 735K expected. However, the situation remains rather tense due to the recount of votes in some states, which began after the appeal of a huge number of citizens dissatisfied with the results of the presidential election.

Support and resistance

Globally, the instrument is moving within a wide ascending channel, being near the support line within the local flag pattern. Indicators keep a buy signal. Fast EMAs on the Alligator indicator are above the signal one, and the AO oscillator histogram is trading in the buy zone.

Resistance levels: 1.3170, 1.3310.
Support levels: 1.2970, 1.2710.

Trading tips

After reversal and growth or consolidation above the local resistance around 1.3170, buy positions with the target at 1.3310 are relevant. Stop loss is 1.3100. Implementation period: 7 days or more.

After decline or consolidation below the support line of the global channel at 1.2970, it is relevant to open sell positions with the target at 1.2710. Stop loss – 1.3050.

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 GBP/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

USD/CHF: the pair corrects downward 16.11.2020

Good afternoon, dear forum visitors!

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

Current trend

USD/CHF is correcting downwards, trading at 0.9122.

The franc is strengthening against the US dollar but looks rather poor against other world currencies. One of the reasons for the dynamics is the deteriorating macroeconomic statistics. The producer price index for October amounted to 0.0% MoM, decreasing from 0.1% MoM and –2.9% YoY.

Since the beginning of trading, the dollar has been under strong pressure, and the USD Index has been declining, reaching the level of 92.580. There are two main reasons for such dynamics. First, U.S. health care is facing the worst COVID-19 pandemic ever. The number of new cases detected per day continues to set records and, as of Saturday, amounted to 192,583 people. The second reason is related to the extremely low index of consumer expectations from the University of Michigan, which fell from 79.2 in October to 71.3 in November, and also the consumer sentiment index, which dropped from 81.8 to 77.0.

Support and resistance

The asset is moving within a wide sideways channel, correcting downward after a significant increase. Locally, the technical indicators are ready to give a sell signal. Fast EMAs of the Alligator indicator crossed with the signal one, and the histogram of the AO oscillator came close to the transition level.

Resistance levels: 0.9150, 0.9200.
Support levels: 0.9090, 0.8986.

Trading tips

After decline or consolidation below the local support level at 0.9090, it is relevant to open sell positions with the target at 0.8986. Stop loss is around 0.9140. Implementation period: 5 days.

After a reversal and growth or consolidation above the local resistance level at 0.9150, buy positions with the target at 0.9200 will be relevant. Stop loss is around 0.9120.

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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/CHF and trade efficiently with NPBFX.

 

[Antony_NPBFX]

XAU/USD: gold prices are consolidating 18.11.2020

Good afternoon, dear forum visitors!

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

Current trend

Gold prices show flat trading dynamics during today's Asian session, consolidating at 1880.00. The day before, the instrument fell slightly in response to optimistic news regarding the development of a vaccine against coronavirus. In turn, investors remain concerned about significant geopolitical risks in the USA, where the process of transferring power is noticeably complicated by Donald Trump's reluctance to admit defeat in the presidential election. However, the electoral vote is still ahead, and therefore it is somewhat premature to draw any conclusions.

Additional pressure on USD positions on Tuesday was exerted by the statistics on Retail Sales in the USA, which showed a more moderate growth than expected. Moreover, sales may show an even greater decline in the future due to the spread of the coronavirus and the emergence of new restrictions.

Support and resistance

Bollinger Bands in D1 chart demonstrate flat dynamics. The price range is almost unchanged, but it remains rather spacious for the current level of activity in the market. MACD is declining keeping a weak sell signal (located below the signal line). Stochastic, on the other hand, maintains a fairly confident upward direction, reflecting the "bullish" potential in the ultra-short term.

To open new positions, it is necessary to wait for the trade signals to become clear.

Resistance levels: 1890.18, 1900.00, 1910.00, 1920.82.
Support levels: 1872.80, 1859.87, 1850.00.

Trading tips

To open new short positions, one can rely on the breakdown of 1872.80. Take-profit – 1850.00. Stop-loss – 1885.00. Implementation time: 1-2 days.

A rebound from 1872.80 as from support followed by a breakout of 1890.18 may become a signal for new purchases with the target at 1910.00. Stop-loss – 1880.00.

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]

GBP/USD: the instrument is consolidating 20.11.2020

Good afternoon, dear forum visitors!

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

Current trend

GBP is trading weakly upward against USD, holding close to local highs since September 4. The day before, the instrument showed an uncertain decline; however, USD was again under pressure after the publication of statistics on jobless claims. For the week ending November 13, the number of Initial Jobless Claims grew from 711K to 742K, while analysts expected a decrease to 707K. On the other hand, the number of Continuing Jobless Claims showed a steady decline. During the week ending November 6, their number fell from 6.801M to 6.372M, while the forecast was 6.47M.

Today British investors expect the release of October retail sales statistics, which, however, is also unlikely to provide significant support to the instrument.

Support and resistance

Bollinger Bands in D1 chart show active growth. The price range is narrowing from below, reflecting the emergence of ambiguous dynamics of trading in the short term. MACD indicator is growing preserving a weak buy signal (located above the signal line). Stochastic, approaching the level of "80", reversed into a horizontal plane, signaling risks associated with overbought GBP in the ultra-short term.

A full-fledged correctional decline is possible in the short and/or ultra-short term.

Resistance levels: 1.3311, 1.3400, 1.3481.
Support levels: 1.3250, 1.3200, 1.3175, 1.3125.

Trading tips

To open short positions, one can rely on the rebound from 1.3311 as from resistance, with the subsequent breakdown of 1.3250. Take-profit – 1.3125. Stop-loss – 1.3311. Implementation time: 2-3 days.

The breakout of 1.3311 may serve as a signal to new purchases with the target at 1.3400. Stop-loss – 1.3250.

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 GBP/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

EUR/USD: EUR is strengthening 23.11.2020

Good afternoon, dear forum visitors!

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

Current trend

EUR is climbing again against USD during today's Asian session, recovering from a slight decline last Friday, which was triggered by the emergence of corrective sentiment in the market. USD positions remain under pressure, as the fundamental picture has changed slightly recently. Investors are concerned about the deteriorating epidemiological situation in the USA, which may eventually lead to additional budget spending and new restrictive measures, which have been diligently avoided by Donald Trump's administration.

However, investors pin their main hopes on the development of a vaccine against coronavirus. Unverified information appears in the media that vaccination of Americans may begin as early as December. Today, traders are focused on the publication of statistics on business activity in the euro area (Germany and France separately) for November. The indices in the manufacturing and services sector are expected to decline, which will be the projected response to restrictive measures in many EU countries.

Support and resistance

Bollinger Bands in D1 chart show moderate growth. The price range is actively narrowing, pointing at the flat nature of trading in the short term. MACD indicator is growing preserving a weak buy signal (located above the signal line). Stochastic, having retreated from the level of "80", reversed into a horizontal plane, indicating fragile balance of power in the ultra-short term.

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

Resistance levels: 1.1892, 1.1918, 1.1964, 1.2000.
Support levels: 1.1850, 1.1800, 1.1763.

Trading tips

To open long positions, one can rely on the breakout of 1.1892. Take-profit – 1.2000. Stop-loss – 1.1835. Implementation time: 2-3 days.

A rebound from 1.1892 as from resistance followed by a breakdown of 1.1850 may become a signal for new sales with the target at 1.1763. Stop-loss – 1.1900.

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

 

[Antony_NPBFX]

EUR/USD: the pair grows 25.11.2020

Good afternoon, dear forum visitors!

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

Current trend

The EUR/USD pair is moving within an uptrend, trading around the level of 1.1900.

EUR is strengthening against its major competitors. Yesterday, statistics from Germany significantly supported the rate. German Q3 GDP was –3.9% YoY against expectations of –4.1% and climbed to 8.5% QoQ against the expected 8.2%. The indicator for assessing the current situation for November amounted to 90.0 points, which is better than the forecast of 87.0 points. The business climate index from IFO for the same period amounted to 90.7 points against 90.1 expected.

The second reason for the strengthening of the instrument was another USD drop. The dollar has lost more than 0.500 points and is currently trading around 92.000. One of the reasons for the decline was the unexpectedly poor data on the consumer confidence index for November, which dropped below 100 points and amounted to 96.1 points. Also, the situation with COVID-19 also exerts negative pressure: more than 200K new cases of infection are registered daily.

Support and resistance

Globally, the correction develops within a wide sideways channel, and the price approaches the resistance line. Technical indicators keep a buy signal. Fast EMAs on the Alligator indicator are above the signal one, and the AO oscillator histogram is kept in the buy zone.

Resistance levels: 1.1940, 1.2100.
Support levels: 1.1830, 1.1620.

Trading tips

After growth or consolidation above the global resistance around 1.1940, buy positions with the target around 1.2100 are relevant. Stop loss is 1.1890. Implementation period: 7 days or more.

After decline and reversal or consolidation below the local support at 1.1830, sell positions with the target at 1.1620 are relevant. Stop loss is 1.1900, above the local resistance.

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

 

[Antony_NPBFX]

USD/CHF: USD remains under pressure 27.11.2020

Good afternoon, dear forum visitors!

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

Current trend

USD is trading ambiguously against CHF during today's Asian session, consolidating near the strong support at 0.9000. USD remains under pressure amid improving prospects for the global economic recovery, as well as the beginning of the transfer of power in the US, where Donald Trump announced that he would step down from the presidency if the electors vote for Joe Biden. In addition, analysts are actively discussing the appointment of former Fed Chair Janet Yellen to the post of US Treasury Secretary. Yellen is expected to advocate further easing of monetary policy and help the process of introducing new stimulus measures for the US economy.

Macroeconomic statistics from Switzerland provided moderate support to CHF yesterday. Employment Level in Q3 2020 increased from 5.095M to 5.138M, which turned out to be better than the average forecasts of analysts.

Support and resistance

Bollinger Bands in D1 chart demonstrate a moderate decrease. The price range is actively expanding from below, but it fails to catch the surge of "bearish" sentiment at the moment. MACD is going down keeping a fairly stable sell signal (located below the signal line). Stochastic retains stable downward direction but is located in close proximity to the zero level, which indicates the risks of oversold USD 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: 0.9074, 0.9100, 0.9126, 0.9155.
Support levels: 0.9050, 0.9028, 0.9000, 0.8960.

Trading tips

The breakdown of 0.9050 may serve as a signal to new sales with the target at 0.9000. Stop-loss – 0.9080. Implementation time: 1-2 days.

To open long positions, one can rely on the rebound from the support level of 0.9050 with the subsequent breakout of 0.9074. Take-profit – 0.9126. Stop-loss – 0.9040.

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 EUR/USD, GBP/USD, USD/JPY, AUD/USD. In order to get free and unlimited access to video forecast and other useful instruments on the portal, you need to register on the NPBFX website.

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

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

 

[Antony_NPBFX]

AUD/USD: the pair continues to grow 30.11.2020

Good afternoon, dear forum visitors!

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

Current trend

AUD continues to rise moderately against USD, staying at 0.7387, but the uptrend for the instrument is not as strong as compared to other major currencies. The trade confrontation between Australia and China continues to gain momentum. About a month ago, Australia called for an investigation into the causes of COVID-19 in China. In response, the PRC imposed restrictions on the import of Australian goods: wheat, cotton, lobsters, timber, and barley. In addition, the day before, China said that it also restricts the import of Australian wine, being its main importer. Due to this restriction, Australia's exports will lose about AUD 1.3B.

USD continues to be in a downtrend, having started trading at 91.700. The last time the USD Index was so low was in April 2018. The absolute low over the past 6 years is at 89.000, which does not seem so unattainable in the current environment.

Support and resistance

On the global chart, the price continues to move within a wide sideways channel and may overcome the global high of the year at 0.7412 in today's trading. Technical indicators are in a state of purchase. The range of EMA fluctuations on the Alligator indicator continues to expand, and the histogram of the AO oscillator is trading in the positive zone.

Resistance levels: 0.7412, 0.7650.
Support levels: 0.7310, 0.7010.

Trading tips

If the asset continues growing globally and the price consolidates above the global high at 0.7412, long positions will be relevant with target at 0.7650. Stop-loss – 0.7350. Implementation time: 7 days and more.

If the asset reverses and declines and the price consolidates below the local support at 0.7310, short positions can be opened with the target at 0.7010. Stop-loss – 0.7400.

Use more opportunities of the NPBFX analytical portal: economic calendar

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

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

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