Antony_NPBFX Posted April 28, 2021 Author Share Posted April 28, 2021 XAU/USD: downward correction 28.04.2021 Good afternoon, dear forum visitors! NPBFX offers the latest release of analytics on XAU/USD for a better understanding of the current market situation and more efficient trading. Current trend Gold prices are declining during today's morning trading session, building on the correctional momentum that formed the day before. The instrument is under slight pressure ahead of the publication of the results of the US Fed's meeting, which, as many expect, will bring some tightening of the regulator's rhetoric regarding economic stimulus measures. So far, the prospects for reducing quantitative easing programs are discussed, but even this will be enough for the markets. In addition, this week investors will pay attention to the publication of data on the dynamics of US GDP. Forecasts assume that the US economy will grow 6.5% YoY in Q1 2021 after increasing by 4.3% YoY over the previous period. Support and resistance On the D1 chart, Bollinger Bands are gradually reversing horizontally. The price range is slightly narrowing, remaining 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 shows a more confident decline and is currently rapidly approaching its lows, indicating the risks of oversold gold in the ultra-short term. Technical indicators do not contradict the further development of the correctional decline in the short and/or ultra-short term. Resistance levels: 1785.00, 1800.00, 1810.29, 1830.00. Support levels: 1758.48, 1749.16, 1720.00, 1703.07. Trading tips To open short positions, one can rely on the breakdown of 1758.48. Take-profit – 1720.00. Stop-loss – 1780.00. A rebound from 1758.48 as from support followed by a breakout of 1785.00 may become a signal for new purchases with the target at 1810.29. Stop-loss – 1770.00. 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. Link to comment Share on other sites More sharing options...
Antony_NPBFX Posted April 30, 2021 Author Share Posted April 30, 2021 USD/CAD: USD remains under pressure 30.04.2021 Good afternoon, dear forum visitors! NPBFX offers the latest release of analytics on USD/CAD for a better understanding of the current market situation and more efficient trading. Current trend USD is marginally lower against CAD during today's Asian session, preparing to record negative trend in the trading week, which led to the renewal of record lows since February 2018. The macroeconomic statistics from the USA published yesterday failed to reverse the stable downtrend for the instrument, although some traders still preferred to fix their profits on short positions. CAD, in turn, finds support in strong retail sales data. In February, sales volumes increased by 4.8% MoM after falling by 1.1% MoM in January. Analysts expected positive dynamics to appear, but hoped for only +4.0% MoM. Excluding car sales, the indicator also increased by 4.8% MoM, beating market forecasts at +3.7% MoM. Today, investors are awaiting the publication of February statistics on the dynamics of GDP growth in Canada on a monthly basis. In addition, the Raw Material Price Index and Industrial Product Price data for March will be released. Support and resistance Bollinger Bands in D1 chart demonstrate a stable decrease. The price range is expanding from below; 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). Having approached its lows, Stochastic is reversing into the horizontal plane indicating risks of overbought USD in the ultra-short term. Resistance levels: 1.2300, 1.2353, 1.2400, 1.2439. Support levels: 1.2245, 1.2200, 1.2129, 1.2060. Trading tips To open new short positions, one can rely on the breakdown of 1.2245. Take-profit – 1.2129–1.2100. Stop-loss – 1.2300. Implementation time: 1-2 days. A rebound from 1.2245 as from support followed by a breakout of 1.2300 may become a signal for new purchases with the target at 1.2400. Stop-loss – 1.2245. Use more opportunities of the NPBFX analytical portal: weekly FOREX forecast You can learn more about the current situation on USD/CAD and get acquainted with the weekly analytical forecast in the "Video reviews" section on the NPBFX portal. Weekly video reviews contain trends, key levels, trading recommendations for such popular instruments as EUR/USD, GBP/USD, USD/JPY, AUD/USD. In order to get free and unlimited access to video forecast and other useful instruments on the portal, you need to register on the NPBFX website. If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist. Use the current recommendations of analysts on USD/CAD and trade efficiently with NPBFX. Link to comment Share on other sites More sharing options...
Antony_NPBFX Posted May 3, 2021 Author Share Posted May 3, 2021 NZD/USD: USD received a new growth impetus 03.05.2021 Good afternoon, dear forum visitors! NPBFX offers the latest release of analytics on NZD/USD for a better understanding of the current market situation and more efficient trading. Current trend NZD has been declining against USD during today's Asian session, remaining under pressure after a strong "bearish" momentum emerged at the end of the previous week. The new sales were prompted by strong macroeconomic statistics from the USA, which once again confirmed the fact of the rapid recovery of the American economy after the coronavirus crisis. Obviously, all the support measures taken by the authorities turned out to be effective, and now one of the central issues is only the timing of the curtailment of stimulus programs, first of all, the quantitative easing program from the US Fed, while it is still somewhat premature to count on an increase in interest rates. Today, investors will be focusing on the April US Manufacturing PMIs. Noteworthy data from New Zealand will appear only on Wednesday, when the quarterly report on the labor market is released and the speech of the Reserve Bank of New Zealand Governor, Adrian Orr, takes place. Support and resistance In the D1 chart, Bollinger Bands are reversing horizontally. The price range is narrowing, reflecting the emergence of ambiguous dynamics of trading in the short term. MACD reversed downwards having formed a new 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 NZD in the ultra-short term. Resistance levels: 0.7200, 0.7250, 0.7305. Support levels: 0.7150, 0.7100, 0.7050, 0.7000. Trading tips To open new short positions, one can rely on the breakdown of 0.7150. Take-profit – 0.7050. Stop-loss – 0.7200. Implementation time: 1-2 days. A rebound from 0.7150 as from support followed by a breakout of 0.7200 may become a signal for new purchases with the target at 0.7305. Stop-loss – 0.7150. Use more opportunities of the NPBFX analytical portal: glossary Beginning traders certainly face a lot of specialized concepts and lexicon on FOREX, which are often not fully been understood. Swap, tick, hedge, margin calls are often unfamiliar to beginning traders. But the lack of knowledge of these fundamentals make a competent market vision impossible. So glossary on the NPBFX analytical portal could be an excellent helper in this case, which contains all the main definitions with explanations in a compact and accessible form. All concepts are arranged in alphabetical order, so that you can easily and quickly find and explore a new concept for yourself. If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist. Use the current recommendations of analysts on NZD/USD and trade efficiently with NPBFX. Link to comment Share on other sites More sharing options...
Antony_NPBFX Posted May 5, 2021 Author Share Posted May 5, 2021 EUR/USD: EUR quotes remain under pressure 05.05.2021 Good afternoon, dear forum visitors! NPBFX offers the latest release of analytics on EUR/USD for a better understanding of the current market situation and more efficient trading. Current trend EUR shows a slight increase against USD during today's Asian session, correcting after yesterday's decline, which led to the renewal of local lows of April 22. USD retains its previous growth momentum, which was formed at the end of last week, receiving additional support after the speech of the US Treasury Secretary Janet Yellen, who did not rule out the possibility of an early rate hike in order to avoid overheating the American economy, which is demonstrating impressive growth rates. Investors are also optimistic about news of the gradual reopening of the US states against the backdrop of an active vaccination campaign and a general stabilization of the epidemiological situation. Market participants are focused on statistics on business activity in the services and manufacturing sectors of the eurozone from Markit. In addition, a speech by the European Central Bank representative Philip Lane is expected, who may hint on tightening monetary policy in the region. Support and resistance In the D1 chart, Bollinger Bands are reversing horizontally. The price range is narrowing, reflecting the emergence of ambiguous dynamics of trading in the short term. MACD is going down preserving a stable sell signal (located below the signal line). Stochastic, having approached its lows, is trying to reverse upwards, indicating the risks of oversold EUR in the ultra-short term. To open new positions, it is necessary to wait for the trade signals to become clear. Resistance levels: 1.2037, 1.2087, 1.2148, 1.2200. Support levels: 1.2000, 1.1945, 1.1900, 1.1850. Trading tips To open long positions, one can rely on the rebound from the support level of 1.2000, with the subsequent breakout of 1.2050. Take-profit – 1.2148. Stop-loss – 1.2000. Implementation time: 2-3 days. The breakdown of 1.2000 may serve as a signal to new sales with the target at 1.1900. Stop-loss – 1.2050. Use more opportunities of the NPBFX analytical portal: glossary Beginning traders certainly face a lot of specialized concepts and lexicon on FOREX, which are often not fully been understood. Swap, tick, hedge, margin calls are often unfamiliar to beginning traders. But the lack of knowledge of these fundamentals make a competent market vision impossible. So glossary on the NPBFX analytical portal could be an excellent helper in this case, which contains all the main definitions with explanations in a compact and accessible form. All concepts are arranged in alphabetical order, so that you can easily and quickly find and explore a new concept for yourself. If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist. Use the current recommendations of analysts on EUR/USD and trade efficiently with NPBFX. Link to comment Share on other sites More sharing options...
Antony_NPBFX Posted May 7, 2021 Author Share Posted May 7, 2021 AUD/USD: consolidation at local highs 07.05.2021 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 slightly declining against USD in trading this morning session, consolidating near the local highs, updated the day before. Traders are not opening new positions ahead of the publication of the US labor market report for April. The forecasts are quite optimistic. In particular, it is expected that the number of Nonfarm Payrolls will grow by 978K after rising by 916K in March. The Unemployment Rate for the first time in a long period may fall below 6%, to 5.8%. In the meantime, moderate support for the instrument is provided by statistical data from Australia and published comments of the country's regulator on monetary policy, which, however, remains very restrained. Anyway, AiG Services index went up from 58.7 to 61 points in April. Support and resistance Bollinger Bands in D1 chart demonstrate flat dynamics. The price range is slightly changing, reflecting ambiguous dynamics of trading in the ultra-short term. MACD has reversed to growth having formed a new buy signal (located above the signal line). Stochastic keeps its upward direction but is rapidly approaching its highs, which reflects the risks of overbought instrument in the ultra-short term. Existing long positions should be kept until technical indicators are clarified. Resistance levels: 0.7800, 0.7840, 0.7883. Support levels: 0.7756, 0.7700, 0.7675, 0.7650. Trading tips To open long positions, one can rely on the breakout of 0.7800. Take-profit – 0.7883. Stop-loss – 0.7756. Implementation time: 1-2 days. A rebound from 0.7800 as from resistance, followed by a breakdown of 0.7756 may become a signal for new sales with the target at 0.7700. Stop-loss – 0.7800. 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 AUD/USD and trade efficiently with NPBFX. Link to comment Share on other sites More sharing options...
Antony_NPBFX Posted May 10, 2021 Author Share Posted May 10, 2021 USD/CAD: the likelihood of a trend change is still low 10.05.2021 Good afternoon, dear forum visitors! NPBFX offers the latest release of analytics on USD/CAD for a better understanding of the current market situation and more efficient trading. Current trend The USD/CAD pair is showing a downtrend, trading at 1.2115. CAD continues to look strong against the backdrop of the declining USD; however, Friday's labor market data from Canada made analysts question the strength of CAD. The Unemployment Rate in April rose from 7.5% to 8.1%, showing the most significant deterioration since March 2020. The Net Change in Employment decreased by 207.1K, which turned out to be much worse than the expected decline by 175.0K. Participation Rate fell to 64.9% from 65.2%. The USD/CAD pair did not change the trend only due to the fact that the situation on the US labor market turned out to be even worse. The Unemployment Rate in April rose from 6.0% to 6.1%. In turn, the employment rate fell in almost all sectors. The number of jobs in the manufacturing industry decreased by 18K, with a projected increase of 55K, and the number of Nonfarm Payrolls increased by 266K, with an expected increase of 978K. Thus, the target indicators for employment were again not reached, so raising interest rates by the US Fed is out of the question. Support and resistance On the daily chart, the price continues to form a global descending channel. Technical indicators are in a state of sale: the range of EMA fluctuations on the Alligator indicator continues to expand, and the histogram of the AO oscillator is trading in the sales zone. Resistance levels: 1.2260, 1.2610. Support levels: 1.2050, 1.1800. Trading tips If the asset continues declining and the price consolidates below 1.2050, short positions can be opened with the target at 1.1800. Stop-loss – 1.2150. Implementation time: 7 days and more. If the asset reverses and grows, and the price consolidates above 1.2260, long positions with the target of 1.2610 will be relevant. Stop-loss – 1.2150. Use more opportunities of the NPBFX analytical portal: weekly FOREX forecast You can learn more about the current situation on USD/CAD and get acquainted with the weekly analytical forecast in the "Video reviews" section on the NPBFX portal. Weekly video reviews contain trends, key levels, trading recommendations for such popular instruments as EUR/USD, GBP/USD, USD/JPY, AUD/USD. In order to get free and unlimited access to video forecast and other useful instruments on the portal, you need to register on the NPBFX website. If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist. Use the current recommendations of analysts on USD/CAD and trade efficiently with NPBFX. Link to comment Share on other sites More sharing options...
Antony_NPBFX Posted May 12, 2021 Author Share Posted May 12, 2021 AUD/USD: positive financial statements supported the pair's quotes 12.05.2021 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 AUD/USD pair is correcting, trading at 0.7796. AUD continues to trade with confidence against its major competitors. The situation with the spread of coronavirus in the country has been taken under control, and since the beginning of the week, the number of new cases has not exceeded 10. Against this background, macroeconomic indicators began to recover. Australian Retail Sales rose 1.3% in March, while the National Bank of Australia's business confidence rose to 26 points in April from 17 points in March. The number of Building Approvals came in line with analysts' expectations, increasing by 17.4%. In turn, USD is trading without a pronounced dynamics, being near the psychological support level of 90.000 in the USD Index. The US Food and Drug Administration (FDA) has approved Pfizer's coronavirus drug for teens aged 12 to 15. Vaccination of this category of the population may begin this week. US CPI data for April will be released today. Analysts expect the growth rate to remain at the March level of 0.3%. Investors' attention will also be focused on the 10-Year Note Auction. Support and resistance On the global chart of the asset, the price continues to form an ascending channel. Technical indicators are in a state of purchase: the range of EMA fluctuations on the Alligator indicator is expanding, and the histogram of the AO oscillator is trading in the positive zone. Resistance levels: 0.7847, 0.8000. Support levels: 0.7696, 0.7560. Trading tips If the asset continues growing and the price consolidates above the local resistance at 0.7847, long positions will be relevant with target at 0.8000. Stop-loss – 0.7750. Implementation time: 7 days and more. If the asset reverses and declines and the price consolidates below the support at 0.7696, short positions can be opened with the target at 0.7560. Stop-loss – 0.7780. 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 AUD/USD and trade efficiently with NPBFX. Link to comment Share on other sites More sharing options...
Antony_NPBFX Posted May 14, 2021 Author Share Posted May 14, 2021 EUR/USD: US labor market data put pressure on the pair 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 Quotes of the EUR/USD pair slowed down their growth, trading in a corrective trend at 1.2090. The day before, European Commission published the spring forecast for the development of the EU economy, according to which the economic indicators of the region will be able to return to pre-crisis levels only by the end of 2022 and the beginning of 2023. Eurozone GDP is projected to grow by 4.2% in 2021 and 4.4% in 2022. Today, the European Central Bank is to publish a statement on monetary policy. Investors do not expect changes, as key indicators have not yet approached the "decision-making levels": inflation is at 1.6%, and the unemployment rate is far from the target range of 7.0%–7.4%. For the first time this week, the quotes of USD showed acceptable growth. After serious fears about high inflation, investors expected a fall in the labor market, but yesterday's data showed positive dynamics. The number of Initial Jobless Claims decreased from 507K to 473K against the forecast of 490K. In turn, the Producer Price Index in April rose by 0.6% with an expected increase of 0.3%. Support and resistance On the global chart of the asset, the price continues correctional growth. Technical indicators maintain the buy signal: the range of EMA fluctuations on the Alligator indicator stays wide and the histogram of the AO oscillator is trading in the purchase zone. Resistance levels: 1.2162, 1.2336. Support levels: 1.2000, 1.1842. Trading tips If the asset continues growing and the price consolidates above the local resistance at 1.2162, long positions will be relevant with target at 1.2336. Stop-loss – 1.2100. Implementation time: 5 days. If the asset declines and the price consolidates below the local support at 1.2000, short positions can be opened with the target at 1.1842. Stop-loss – 1.2060. 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 EUR/USD and trade efficiently with NPBFX. Link to comment Share on other sites More sharing options...
Antony_NPBFX Posted May 17, 2021 Author Share Posted May 17, 2021 USD/CAD: the pair continues declining actively 17.05.2021 Good afternoon, dear forum visitors! NPBFX offers the latest release of analytics on USD/CAD for a better understanding of the current market situation and more efficient trading. Current trend The USD/CAD pair is showing a downtrend, trading at 1.2121. CAD continues to rise, hitting a record high since 2015 last Friday. The positive dynamics is facilitated by a sharp increase in global demand for manufactured goods and raw materials, the export leader of which is Canada. The price of lumber has increased by more than 49% since the beginning of the year, oil prices are in an uptrend, and demand for wheat and industrial metals such as copper has also increased significantly. In addition, a 173% increase in car sales in March and an increase in domestic wholesale sales of 2.8% should be noted. USD began to decline again after the publication of disappointing macroeconomic statistics from the US. Retail sales excluding autos in April decreased by 0.8%, which was not expected by analysts, who predicted an increase of 0.7%. The volume of retail sales in April did not change, while analysts had expected the indicator to rise by 1.0%. Finally, industrial production grew by only 0.7%, which is worse than the 1.0% forecast. Support and resistance On the global chart, the price continues to form a descending channel. Technical indicators maintain the global sell signal. Fast EMAs on the Alligator indicator are below the signal line, and the AO oscillator histogram is trading in the sell zone. Resistance levels: 1.2200, 1.2500. Support levels: 1.2045, 1.1950. Trading tips If the asset continues declining and the price consolidates below the local support level at 1.2045, short positions can be opened with the target at 1.1950. Stop-loss – 1.2100. Implementation time: 7 days and more. If the asset reverses and continues growing and the price consolidates above the local resistance level at 1.2200, long positions will be relevant with target at 1.2500. Stop-loss – 1.2100. Use more opportunities of the NPBFX analytical portal: weekly FOREX forecast You can learn more about the current situation on USD/CAD and get acquainted with the weekly analytical forecast in the "Video reviews" section on the NPBFX portal. Weekly video reviews contain trends, key levels, trading recommendations for such popular instruments as EUR/USD, GBP/USD, USD/JPY, AUD/USD. In order to get free and unlimited access to video forecast and other useful instruments on the portal, you need to register on the NPBFX website. If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist. Use the current recommendations of analysts on USD/CAD and trade efficiently with NPBFX. Link to comment Share on other sites More sharing options...
Antony_NPBFX Posted May 19, 2021 Author Share Posted May 19, 2021 Brent Crude Oil: pending decisions on the Iranian nuclear deal 19.05.2021 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 Brent crude prices continue their correctional movement, trading at 68.00 after another attempt to consolidate above the key level of 70.00. Analysts point to possible significant progress in negotiations between the United States and Iran on the renewal of the nuclear deal. If the parties are able to agree, and the US authorities will not extend the sanctions against Tehran, this will allow Iran to significantly increase the supply of cheap "black gold" to the world market. Yesterday, the American Petroleum Institute (API) released data on weekly stocks, which increased by 0.620M barrels, which is lower than the expected increase of 1.680M. Today, the Energy Information Administration (EIA) of the US Department of Energy will publish its report, which is predicted to show an increase in reserves of 1.623M barrels. However, if the actual data demonstrate a decrease in the indicator, the local trend in the asset may again change to an uptrend. Support and resistance On the local chart, the asset continues to trade close to the global high, forming a sideways channel with the boundaries of 70.00–66.50. Technical indicators are in a state of uncertainty: the fast EMAs of the Alligator indicator are below the signal line, and the histogram of the AO oscillator has moved into the sell zone, forming the first bar below the zero level. Resistance levels: 70.20, 74.00. Support levels: 66.70, 63.00. Trading tips If the asset reverses and continues growing and the price consolidates above the local resistance level at 70.20, long positions will be relevant with target at 74.00. Stop-loss – 68.00. Implementation time: 7 days and more. If the asset continues to decline and the price consolidates below the local support at 66.70, short positions can be opened with the target at 63.00. Stop-loss – 68.00. Use more opportunities of the NPBFX analytical portal: trading signals for commodities How can a trader determine if it’s worth buying or selling Brent Crude Oil 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 Brent Crude Oil and trade efficiently with NPBFX. Link to comment Share on other sites More sharing options...
Antony_NPBFX Posted May 21, 2021 Author Share Posted May 21, 2021 USD/CAD: downtrend persists 21.05.2021 Good afternoon, dear forum visitors! NPBFX offers the latest release of analytics on USD/CAD for a better understanding of the current market situation and more efficient trading. Current trend The USD/CAD pair is demonstrating a downward trend, trading at the level of 1.2073, despite the negative outlook on the financial system from the Bank of Canada. In the submitted report, the regulator highlighted the increased vulnerability of households that took out mortgage loans that do not correspond to their real income. Among the main threats to financial stability, there is a problem of increased demand for liquidity in the bond market, which banks are unable to provide in the current period of increased load. Summarizing the report, Governor of the Bank of Canada Tiff Macklem assured that in this difficult period the department would react to all current and new risks, so there are no serious concerns for the state of the economy. Yesterday, the American currency did not show clear dynamics, as investors reacted differently to the incoming macroeconomic information. On the one hand, USD was supported by the decrease in Initial Jobless Claims, which amounted to 444K, which is lower than the projected 450K. On the other hand, the manufacturing activity index for May fell very sharply to 31.5 points from 50.2 points for April. Support and resistance Locally, the price is forming a downtrend. Technical indicators keep the global sell signal: fast EMAs on the Alligator indicator are below the signal one, and the AO oscillator histogram is trading in the sell zone. Resistance levels: 1.2133, 1.2317. Support levels: 1.2022, 1.1900. Trading tips After decline or consolidation below the local support of 1.2022, sell positions with the target at 1.1900 are relevant. Stop loss – 1.2080. Implementation period: 7 days or more. After reversal and growth or consolidation above the local resistance level of 1.2133, buy positions with the target at 1.2317 will be relevant. Stop loss – 1.2070. Use more opportunities of the NPBFX analytical portal: weekly FOREX forecast You can learn more about the current situation on USD/CAD and get acquainted with the weekly analytical forecast in the "Video reviews" section on the NPBFX portal. Weekly video reviews contain trends, key levels, trading recommendations for such popular instruments as EUR/USD, GBP/USD, USD/JPY, AUD/USD. In order to get free and unlimited access to video forecast and other useful instruments on the portal, you need to register on the NPBFX website. If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist. Use the current recommendations of analysts on USD/CAD and trade efficiently with NPBFX. Link to comment Share on other sites More sharing options...
Antony_NPBFX Posted May 24, 2021 Author Share Posted May 24, 2021 NZD/USD: the instrument is waiting for new drivers 24.05.2021 Good afternoon, dear forum visitors! NPBFX offers the latest release of analytics on NZD/USD for a better understanding of the current market situation and more efficient trading. Current trend NZD is showing ambiguous performance against USD during today's morning session, building on the flat trend that has emerged in recent days. Today, NZD is receiving little support from strong macroeconomic statistics from New Zealand. Meanwhile, retail sales in Q1 2021 showed solid 2.5% QoQ growth after a 2.7% QoQ decline last month. Analysts had expected the negative dynamics to worsen to –4.4% QoQ. Retail Sales excluding Autos for the same period accelerated from +4.8% QoQ to +6.8% QoQ, significantly outperforming the projected +1.9% QoQ. Market activity remains subdued as investors expect new drivers to emerge. One of such events will be the meeting of the Reserve Bank of New Zealand on interest rates, which will be held on Wednesday, May 26. Analysts do not expect changes in the vector of monetary policy, but comments from officials will continue to be important. 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 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 instrument in the ultra-short term. Resistance levels: 0.7200, 0.7250, 0.7305, 0.7350. Support levels: 0.7150, 0.7100, 0.7050, 0.7000. Trading tips To open long positions, one can rely on the rebound from the support level of 0.7150 with the subsequent breakout of 0.7200. Take-profit – 0.7250. Stop-loss – 0.7175. Implementation time: 2-3 days. The breakdown of 0.7150 may serve as a signal to new sales with the target at 0.7100. Stop-loss – 0.7180. Use more opportunities of the NPBFX analytical portal: glossary Beginning traders certainly face a lot of specialized concepts and lexicon on FOREX, which are often not fully been understood. Swap, tick, hedge, margin calls are often unfamiliar to beginning traders. But the lack of knowledge of these fundamentals make a competent market vision impossible. So glossary on the NPBFX analytical portal could be an excellent helper in this case, which contains all the main definitions with explanations in a compact and accessible form. All concepts are arranged in alphabetical order, so that you can easily and quickly find and explore a new concept for yourself. If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist. Use the current recommendations of analysts on NZD/USD and trade efficiently with NPBFX. Link to comment Share on other sites More sharing options...
Antony_NPBFX Posted May 26, 2021 Author Share Posted May 26, 2021 GBP/USD: waiting for new drivers 26.05.2021 Good afternoon, dear forum visitors! NPBFX offers the latest release of analytics on GBP/USD for a better understanding of the current market situation and more efficient trading. Current trend GBP is strengthening against USD during the morning session, again trying to recover after the flat start of the trading this week. Investors expect new drivers to appear on the market, but for now they are only sluggishly taking a lead from the US macroeconomic statistics. On Tuesday, additional pressure on USD was exerted by data on the dynamics of new home sales, which reflected a decrease in the indicator by 5.9% MoM in April after rising by 7.4% MoM in March. In absolute terms, sales fell from 0.917M to 0.863M, while the market expected an increase in volume to 0.95M. At the same time, house prices continue to rise moderately as the US economy recovers. Housing Price Index in March accelerated from +1.1% MoM to +1.4% MoM. In turn, the S&P/Case-Shiller Home Price Indices for the same period added 13.3% YoY after increasing by 12% YoY in February. Support and resistance Bollinger Bands in D1 chart show moderate growth. The price range is narrowing, reflecting appearance of multi-directional dynamics in the short term. MACD is slightly declining preserving a previous sell signal (located below the signal line). Stochastic reversed horizontally approximately at the center of its area, pointing to the temporary balance of power in the ultra-short term. Resistance levels: 1.4200, 1.4232, 1.4275. Support levels: 1.4150, 1.4100, 1.4050, 1.4000. Trading tips To open long positions, one can rely on the breakout of 1.4200. Take-profit – 1.4275–1.4300. Stop-loss – 1.4150. Implementation time: 2-3 days. A rebound from 1.4200 as from resistance, followed by a breakdown of 1.4150 may become a signal for new sales with the target at 1.4050. Stop-loss – 1.4200. 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. Link to comment Share on other sites More sharing options...
Antony_NPBFX Posted May 28, 2021 Author Share Posted May 28, 2021 USD/CAD: the pair ends the week with flat dynamics 28.05.2021 Good afternoon, dear forum visitors! NPBFX offers the latest release of analytics on USD/CAD for a better understanding of the current market situation and more efficient trading. Current trend Today during the Asian session, the USD/CAD pair is growing slightly, compensating for the decline yesterday, which prevented the formation of a corrective uptrend in the ultra-short term. Yesterday’s US positive macroeconomic statistics on Initial Jobless Claims supported the "bullish" sentiment for the dollar; however, USD growth was still limited by the unclear prospects of the US FRS monetary policy. Although several bank representatives admitted that they are ready to discuss curtailing stimulus measures, the department does not plan to rush with them. On Friday, the market expects the publication of a block of US macroeconomic statistics on the dynamics of personal income and spending for April, which may hint at the future policy of the American regulator. Support and resistance On the daily chart, Bollinger Bands reverse into a horizontal plane. The price range practically does not change but it remains spacious enough for the current level of activity for the instrument. The MACD indicator grows, maintaining a relatively strong buy signal (the histogram is above the signal line). Stochastic demonstrates similar dynamics, being located approximately in the center of its working area. However, its current readings are slightly correlated with the real dynamics in the market. Technical indicators do not contradict the possible resumption of the correctional growth of the US currency soon. Resistance levels: 1.2143, 1.2200, 1.2245, 1.2300. Support levels: 1.2060, 1.2000, 1.1930. Trading tips Long positions may be opened after the breakout of 1.2143 with the target at 1.2245. Stop loss – 1.2090. Implementation period: 1–2 days. Short positions may be opened after the breakdown of 1.2060 with the target at 1.1930. Stop loss – 1.2130. Use more opportunities of the NPBFX analytical portal: weekly FOREX forecast You can learn more about the current situation on USD/CAD and get acquainted with the weekly analytical forecast in the "Video reviews" section on the NPBFX portal. Weekly video reviews contain trends, key levels, trading recommendations for such popular instruments as EUR/USD, GBP/USD, USD/JPY, AUD/USD. In order to get free and unlimited access to video forecast and other useful instruments on the portal, you need to register on the NPBFX website. If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist. Use the current recommendations of analysts on USD/CAD and trade efficiently with NPBFX. Link to comment Share on other sites More sharing options...
Antony_NPBFX Posted May 31, 2021 Author Share Posted May 31, 2021 AUD/USD: flat trading 31.05.2021 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 has shown moderate gains against USD during the Asian session, trying to recover from a decline late last week that led to renewed local lows since May 4. Moderate support for the instrument is provided by macroeconomic statistics from Australia and China. Private Sector Credit in Australia in April showed an increase of 0.2% MoM after increasing by 0.4% MoM in March. In annual terms, credit growth rates increased from +1.0% YoY to +1.3% YoY. The Chinese data showed a solid growth in the Non-Manufacturing PMI. In May, the indicator increased from 54.9 to 55.2 points, while analysts expected it to decline to 52.7 points. NBS Manufacturing PMI, in turn, slightly decreased from 51.1 to 51.0 points in May, while experts did not expect any changes at all. Investors are now awaiting the Reserve Bank of Australia's interest rate decision with a follow-up press conference on Tuesday. Support and resistance In the D1 chart, Bollinger Bands are reversing horizontally. The price range practically does not change, limiting short-term "bears" in further development. MACD is declining keeping a weak sell signal (located below the signal line). Stochastic shows an unstable oscillatory dynamics approximately at the center of its area, pointing to the balance of power in the ultra-short term. Resistance levels: 0.7750, 0.7770, 0.7800, 0.7816. Support levels: 0.7700, 0.7676, 0.7636, 0.7600. Trading tips To open long positions, one can rely on a confident breakout of 0.7750. Take-profit – 0.7800–0.7816. Stop-loss – 0.7715. Implementation time: 1-2 days. The return of "bearish" trend with the breakdown of 0.7700 may become a signal for new sales with the target at 0.7600. Stop-loss – 0.7750. 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 AUD/USD and trade efficiently with NPBFX. Link to comment Share on other sites More sharing options...
Antony_NPBFX Posted June 2, 2021 Author Share Posted June 2, 2021 XAU/USD: prices are adjusted for the second session in a row 2.06.2021 Good afternoon, dear forum visitors! NPBFX offers the latest release of analytics on XAU/USD for a better understanding of the current market situation and more efficient trading. Current trend Gold prices have declined for the second session in a row, retreating from record highs since the beginning of the year and testing 1900.00 for a breakdown. Investors are fixing long positions in the instrument amid the publication of upbeat macroeconomic statistics from the US, as well as ahead of the release of the US labor market report for May on Friday. Additional pressure on the quotes was exerted by the yield of US Treasury bonds, which resumed growth. In turn, gold is still in high demand against the background of existing inflationary risks, which are almost completely ignored by the US Fed. Today, investors expect the publication of the monthly economic review, Fed's Beige Book, which is likely to be able to further support the "bullish" sentiment in USD. Support and resistance Bollinger Bands in D1 chart show stable growth. The price range is narrowing actively, reflecting the emergence of ambiguous dynamics of trading in the short/ultra-short term. MACD reversed downwards having formed a new sell signal (located below the signal line). Stochastic is showing similar dynamics, retreating from its highs, indicating the overbought gold in the ultra-short term. The development of a full-fledged downtrend is possible in the near future. Resistance levels: 1916.36, 1935.00, 1952.53, 1966.25. Support levels: 1900.00, 1882.10, 1863.34, 1850.00. Trading tips To open new short positions, one can rely on the breakdown of 1882.10. Take-profit – 1850.00. Stop-loss – 1900.00. Implementation time: 1-2 days. A rebound from 1882.10 as from support followed by a breakout of 1900.00 may become a signal for new purchases with the target at 1935.00. Stop-loss – 1882.10. 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. Link to comment Share on other sites More sharing options...
Antony_NPBFX Posted June 4, 2021 Author Share Posted June 4, 2021 AUD/USD: AUD renews local lows 4.06.2021 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 trading flat against USD during the Asian session, consolidating near the local lows since April 14 after the active decline the day before. USD strengthened significantly yesterday, responding to the emergence of positive macroeconomic statistics. Specifically, the ADP Employment Change Report reflected nearly 1M new job growth, which points to the rapid recovery of the US economy after the pandemic and gives hope for strong results from the final US labor market report for May, which will be released today. Statistics from Australia provided insignificant support to the instrument on Friday. The volume of Home Loans in the country in April increased by 4.3% MoM after increasing by 3.3% MoM in March. At the same time, Investment Lending for Homes for the same period corrected from +12.7% MoM to +2.1% MoM. Support and resistance Bollinger Bands in D1 chart demonstrate a moderate decrease. The price range is expanding, but the quotes of the instrument are located below its borders. MACD is going down preserving a strong sell signal (located below the signal line). Stochastic is showing similar dynamics; however, the indicator line is rapidly approaching its lows, signaling growing risks associated with the oversold AUD in the ultra-short term. Resistance levels: 0.7676, 0.7700, 0.7750, 0.7770. Support levels: 0.7636, 0.7600, 0.7562, 0.7531. Trading tips The breakdown of 0.7636 may serve as a signal to new sales with the targets at 0.7562–0.7540. Stop-loss – 0.7676. Implementation time: 1-2 days. To open long positions, one can rely on the rebound from the support level of 0.7636 with the subsequent breakout of 0.7676. Take-profit – 0.7750. Stop-loss – 0.7636. 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 AUD/USD and trade efficiently with NPBFX. Link to comment Share on other sites More sharing options...
Antony_NPBFX Posted June 7, 2021 Author Share Posted June 7, 2021 EUR/USD: euro is trying to recover 7.06.2021 Good afternoon, dear forum visitors! NPBFX offers the latest release of analytics on EUR/USD for a better understanding of the current market situation and more efficient trading. Current trend EUR shows ambiguous trading dynamics against USD during the Asian session, consolidating near 1.2160 and maintaining the "bullish" momentum formed at the end of last week. EUR, like many other instruments, managed to show growth last Friday, responding to the release of the US labor market report for May, which could not meet all the expectations of traders. It should be noted that the data can still be called strong, but investors fear that it is not enough to change the course of the US Fed's monetary policy. The American economy created 559K new jobs in May after 278K in April. Market forecasts assumed an increase of 650K. In turn, the Unemployment Rate fell more than expected, from 6.1% to 5.8%, which was not reflected in the dynamics of the instrument. Today, investors are focused on statistics from Germany on the volume of factory orders for April. Support and resistance In the D1 chart, Bollinger Bands are reversing horizontally. The price range is slightly expanded from below, remaining spacious enough for the current activity level in the market. MACD is declining keeping a weak sell signal (located below the signal line). Stochastic shows similar dynamics, rapidly approaching its lows, which indicates risks associated with the oversold EUR in the ultra-short term. Resistance levels: 1.2200, 1.2265, 1.2309, 1.2348. Support levels: 1.2150, 1.2100, 1.2050, 1.2000. Trading tips To open long positions, one can rely on a confident breakout of 1.2200. Take-profit – 1.2309. Stop-loss – 1.2150. Implementation time: 2-3 days. The return of "bearish" trend with the breakdown of 1.2150 may become a signal for new sales with the target at 1.2050. Stop-loss – 1.2200. Use more opportunities of the NPBFX analytical portal: glossary Beginning traders certainly face a lot of specialized concepts and lexicon on FOREX, which are often not fully been understood. Swap, tick, hedge, margin calls are often unfamiliar to beginning traders. But the lack of knowledge of these fundamentals make a competent market vision impossible. So glossary on the NPBFX analytical portal could be an excellent helper in this case, which contains all the main definitions with explanations in a compact and accessible form. All concepts are arranged in alphabetical order, so that you can easily and quickly find and explore a new concept for yourself. If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist. Use the current recommendations of analysts on EUR/USD and trade efficiently with NPBFX. Link to comment Share on other sites More sharing options...
Antony_NPBFX Posted June 9, 2021 Author Share Posted June 9, 2021 “Forex should be promoted”. Introducing an interview with the winner of the March’s Battle of Traders Today’s winner of The Battle of Traders was attracted to Forex accidentally – by a book on wave analysis written by Ralph Elliott. 10 years have passed since then, but the trader still applies the classic waves’ approach to make prognoses on the market. Let us introduce you Yuri Genrikhovich Luchina. It is he who is on the top of March’s Battle, having made only 15 transactions using USD/JPY currency pair. For trading in the Battle, the trader has used the full range of available devices. It is important to note that the winner’s trading strategy brought him profit – he closed all trades in plus. Yuri Genrikhovich himself supposes that in order to achieve success, one should not be afraid to trade and take a risk. His educational background is related to Law and he lives in Belarus. Reasons why the winner considers Forex to be the business of the future, which needs to be promoted, as well as Yuri’s plans to trade on a real account, are presented in the interview below. - Yuri Genrikhovich, tell us, please, how did you learn about the Battle of Traders? - I found it by chance through advertising on the Internet. - Have you already had experience of participating in other contests? - I had, indeed. - As far as I know, in March you first became a participant in the Battle. Did you set a goal to take the first place or did the victory come as a surprise to you? - It was a surprise. - What were the first words and emotions when you found out that you was #1? Did you manage to share this news with someone? - Of course I was delighted! The emotions were positive. I have not shared this news with anyone for now, but I will, later. - Yuri Genrikhovich, what do you think of the terms and conditions of the Battle held by NPBFX? - They are the best! - In March, you were able to increase your initial deposit of $5000 by 13 times (up to $65,000)! At the same time, all 15 trades were closed in profit. Please tell us what is the essence of your trading strategy? - This is the Elliott Wave Theory analysis, I don't use indicators at all. Just the wave analysis. - Your trading portfolio includes only one trading instrument – USD/JPY currency pair. Why did you choose the yen? - It's just the most comfortable for me. Although I work with Swiss franc, but yen, I suppose, is more flexible. - Would you like to try trading other instruments that are available with NPBFX, in particular, stocks, indices, oil, gas, cryptocurrencies? - I trade with them for myself, but I use indices. It's just that there are no historical charts for these tools, which is essential for trading to have previous statistical data on currency pairs. These data can be monthly, annual – somehow it turns out easier to deal with. - The most profitable transaction in the Battle brought you over $9,700 in profit. Its trading volume was 18 lots. The statement of your contest account displays trades with a larger trading volume – 40 and 50 lots each! Tell me, for the market prognosis, you used only wave analysis or, perhaps, fundamental analysis? - I used the fundamental one to get a clue on price changes, in which direction – only using the wave analysis. - During the Battle, did you open positions through the desktop version of MT4 or through a smartphone (tablet) using NPBFX mobile terminal? - Yes, both a tablet and a computer. I use a full range of devices. - How can you evaluate the trading conditions at NPBFX? - The best. - Did you manage to get acquainted with the Analytical Portal, which is available in the Personal Office? - Not yet, I haven't checked yet. - How often did you refer to monitoring the accounts of all participants during the Battle? How useful was the monitoring? - Yes, I did. Monitoring motivated to exit, to stop trading when already a certain position is taken to avoid the risks. - $1000 has already been credited to your real trading account at NPBFX. Are you planning to continue the same trading on it as on a demo account in the Battle? - Yes, I have a wave analysis. - Recently, the global economy has shown a tendency of recovery after lockdowns due to COVID. Does it somehow affect Forex market, in your opinion? - The fact that dollar will fall was predicted decades ago based only on wave analysis, so economic indicators do not play a crucial role. - Yuri Genrikhovich, tell us a little about your professional path: what brought you to Forex – was it a chance or a deliberate choice? How long have you been trading Forex? - For about ten years. I have just accidentally seen a book about wave analysis and became interested in this issue. - Perhaps you attended some trainings or studied trading on your own? - Independently. There was technical analysis, and that’s it, but I just couldn't do much with technical analysis. - Which traits should a trader have in order to become a professional and achieve financial success? - Do not be afraid to trade, take risks. Be more daring and less greedy. - What do you do besides trading, what is your profession? - I am a lawyer. - Please tell me, what country are you from, where do you live? How old are you, are you a family man? - Yes, I am a family man. I am 60 years old, now I am in Belarus. - How popular is Forex trading in the Republic of Belarus, in your opinion? - As elsewhere, as in Russia – in Belarus it is the same. By the way, I already registered in partnership program and placed your banner with the link on my webpage completely devoted to wave analysis. - Yuri Genrikhovich, would you advise your friends and acquaintances to join the Battle of Traders? Why? - I would advise, of course, why not. - It turns out that you communicate with people who trade, right? - Sure. - What would you like to wish NPBFX and the participants of the next Battle of Traders? - To devote more time to advertising, as it were, to promote Forex, because this is the business of the future. - Yuri Genrikhovich, thank you for participating in the interview. We wish you new victories and achievements in the financial markets! And let your NPBFX real account trading be even more successful than your contest account in March! Link to comment Share on other sites More sharing options...
Antony_NPBFX Posted June 11, 2021 Author Share Posted June 11, 2021 NZD/USD: flat trading dynamics 11.06.2021 Good afternoon, dear forum visitors! NPBFX offers the latest release of analytics on NZD/USD for a better understanding of the current market situation and more efficient trading. Current trend NZD is flat against USD during today's Asian session, holding near 0.7200. Investors are awaiting discussions of the newly flaring disagreements between the UK and the EU over the Brexit transition arrangements at the G7 Meeting. Yesterday's macroeconomic statistics from the US on consumer inflation, although turned out to be better than forecasts, failed to noticeably affect the dynamics of USD. However, the market, along with the US Fed, received a new signal, indicating a rapid rise in prices. Now traders are awaiting the meeting of the American regulator, hoping to hear a more proactive position on the gradual tightening of monetary policy. Meanwhile, the instrument is moderately supported by macroeconomic statistics from New Zealand. Business NZ PMI in May increased from 58.4 to 58.6 points, which was significantly better than market expectations at 54.4 points. Support and resistance Bollinger Bands in D1 chart demonstrate flat dynamics. The price range is expanding from below, remaining spacious enough for the current activity level in the market. MACD is declining keeping a weak sell signal (located below the signal line). The indicator is trying to consolidate below the zero level. Stochastic is showing flat dynamics, being located in the middle of its area. Resistance levels: 0.7200, 0.7250, 0.7286, 0.7315. Support levels: 0.7163, 0.7125, 0.7100, 0.7050. Trading tips To open long positions, one can rely on a confident breakout of 0.7200. Take-profit – 0.7250. Stop-loss – 0.7175. Implementation time: 1-2 days. A rebound from 0.7200 as from resistance followed by a breakdown of 0.7163 may become a signal for new sales with the target at 0.7100. Stop-loss – 0.7200. Use more opportunities of the NPBFX analytical portal: glossary Beginning traders certainly face a lot of specialized concepts and lexicon on FOREX, which are often not fully been understood. Swap, tick, hedge, margin calls are often unfamiliar to beginning traders. But the lack of knowledge of these fundamentals make a competent market vision impossible. So glossary on the NPBFX analytical portal could be an excellent helper in this case, which contains all the main definitions with explanations in a compact and accessible form. All concepts are arranged in alphabetical order, so that you can easily and quickly find and explore a new concept for yourself. If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist. Use the current recommendations of analysts on NZD/USD and trade efficiently with NPBFX. Link to comment Share on other sites More sharing options...
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