Antony_NPBFX Posted September 7, 2022 Author Report Share Posted September 7, 2022 GBP/USD: pound is again approaching the March lows of 2020 - 07.09.2022 Good afternoon, dear forum visitors! NPBFX offers the latest release of analytics on GBP/USD for a better understanding of the current market situation and more efficient trading. Current trend The British pound is moderately declining, leveling the attempts of the "bulls" to show corrective growth at the beginning of the week. The GBP/USD pair is testing the level of 1.1450 for a breakdown, approaching the all-time lows of March 2020, updated last Monday. Support for the US currency was provided by strong macroeconomic statistics from the US, published the day before. The ISM Services Employment Index in August strengthened from 49.1 points to 50.2 points, while the forecast was for a decline to 48.2 points, and the ISM Services PMI over the same period increased from 56.7 points to 56.9 points against the background of preliminary estimates of experts on the decline to 55.1 points. In turn, the ISM Services New Orders Index corrected from 59.9 points to 61.8 points, while analysts had expected a reduction to 57.0 points. The data again reflected the resilience of the US economy, which allows the US Federal Reserve to continue the "hawkish" monetary policy to combat high inflation, especially given the further rise in energy prices. Today, the focus of investors will be hearing the report on inflation, as well as a number of speeches by representatives of the Bank of England, including its Governor Andrew Bailey. Traders continue to evaluate the results of the election of the leader of the Conservative Party and Prime Minister of Great Britain, which was won by Liz Truss. The official and the new government will have to focus on problems in the national economy, which, having failed to fully recover from the coronavirus pandemic, is under pressure from recession risks, as inflation updates new anti-records, and the national currency has accelerated the fall against the US dollar to the lows of 1985. In addition, the situation is aggravated against the backdrop of a rapidly developing energy crisis: due to the rise in prices for "blue fuel" after the start of the military conflict in Eastern Europe, consumer prices in the country, according to forecasts by analysts from the investment bank Goldman Sachs Group Inc. may exceed 22.0%, and the economy in this case will shrink by 3.4%. Support and resistance Bollinger Bands in D1 chart demonstrate a stable decrease. The price range expands slightly from below, making way for new local lows for the "bears". MACD is declining keeping a weak sell signal (located below the signal line). Stochastic, on the other hand, remains in an uptrend, retreating from its lows, indicating that the pound is oversold in the ultra-short term. Resistance levels: 1.1531, 1.1600, 1.1647, 1.1700. Support levels: 1.1442, 1.1380, 1.1300, 1.1250. Trading tips Short positions may be opened after a breakdown of 1.1442 with the target at 1.1300. Stop-loss — 1.1510. Implementation time: 1-2 days. A rebound from 1.1442 as from support followed by a breakout of 1.1531 may become a signal for opening new long positions with the target at 1.1700. Stop-loss — 1.1442. 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 GBP/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. Link to comment Share on other sites More sharing options...
Antony_NPBFX Posted September 9, 2022 Author Report Share Posted September 9, 2022 eBay Inc.: technical analysis 09.09.2022 Good afternoon, dear forum visitors! NPBFX offers the latest release of analytics on eBay Inc. for a better understanding of the current market situation and more efficient trading. Shares of eBay Inc., an American online retailer, are trading at 44.00. On the daily chart, the price, having left the limits of the global downwards channel with dynamic boundaries 38.00–45.00, is kept above it, despite approaching the previously passed resistance level. On the four-hour chart, it is seen that the attempt to enter a full-fledged correction failed, the initial Fibonacci 23.6% correction level at 50.00 was not broken, and the quotes received a downward impulse, directing them to the year's low at 40.40, which may be reached in the coming days. Technical indicators have reversed and are holding a stable sell signal: fast EMAs on the Alligator indicator are below the signal line, and the AO oscillator histogram forms downward bars in the sell zone. Trading tips Short positions may be opened after the consolidation below 43.10 with the target at 40.40. Stop loss – 44.20. Implementation period: 7 days or more. Long positions may be opened after the price rises and consolidates above 45.10 with the target at 50.00 and stop loss 43.00. 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 eBay Inc. and trade efficiently with NPBFX. Link to comment Share on other sites More sharing options...
Antony_NPBFX Posted September 12, 2022 Author Report Share Posted September 12, 2022 GBP/USD: corrective growth at the beginning of a new trading week 12.09.2022 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 GBP/USD pair shows ambiguous trading dynamics during the morning session on September 12, consolidating near 1.1600. Investors are in no hurry to open new positions, preferring to wait for the publication of macroeconomic statistics from the UK. July's gross domestic product (GDP) data is expected to be released today, and analysts' forecasts suggest that the British economy will be able to show growth of 0.5% after declining by 0.6% in June. Also, during the day, traders will pay attention to statistics on the dynamics of industrial production, as well as preliminary estimates of inflation and August GDP from NIESR. Tomorrow, a full report on the labor market for July-August will be published, and on Wednesday, statistics on inflation will be released, which is a key parameter for the Bank of England, which is also set to fight against high consumer prices, despite the threat of a recession. The August indicator may reach another record high of 10.2% YoY. Last week, Prime Minister Liz Truss announced new economic measures to support the population in the face of the energy crisis. In particular, about 90.0B pounds will be directed to social assistance for households (each family will be paid 400 pounds to compensate for electricity and gas tariffs, which have been steadily rising recently). Also, the new government will impose a limit on accounts of 2.5K pounds a year, which, in turn, will be a catalyst for slowing inflation by 5.0 percentage points, as well as reducing budget spending on social payments and debt servicing. According to analysts' calculations, without the implementation of this initiative, the bill by the beginning of next year would have increased by up to 3.5K pounds a year, and if energy prices continued to rise, by the spring, it would have reached 5.0K pounds, forcing British families to give about 15% their income from heating and electricity. Support and resistance On the daily chart, Bollinger bands show a reversal in the horizontal plane: the price range is narrowing from above, reflecting the emergence of ambiguous dynamics in the short term. MACD is growing, maintaining a relatively strong buy signal and above the signal line. Stochastic also shows active growth, close to its highs and indicating that the pound may become overbought in the ultra-short term. Resistance levels: 1.1647, 1.1700, 1.1759, 1.1800. Support levels: 1.1600, 1.1531, 1.1442, 1.1380. Trading tips Long positions may be opened after the breakout of 1.1647 with the target at 1.1759. Stop loss – 1.1600. Implementation period: 1–2 days. Short positions may be opened after the rebound from 1.1647 as a resistance and a breakdown of 1.1600 with the target at 1.1442. Stop loss – 1.1700. 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 GBP/USD and trade efficiently with NPBFX. Link to comment Share on other sites More sharing options...
Antony_NPBFX Posted September 14, 2022 Author Report Share Posted September 14, 2022 PayPal Holdings Inc.: technical analysis 14.09.2022 Good afternoon, dear forum visitors! NPBFX offers the latest release of analytics on PayPal Holdings Inc. for a better understanding of the current market situation and more efficient trading. Shares of PayPal Holdings Inc., an American debit payment processor, correct at 95.00. On the daily chart, the price is moving in a global downtrend, trying to correct, but it is still premature to talk about full-fledged growth since the quotes have not yet overcome the initial Fibonacci 23.6% correction around 125.00. On the four-hour chart, a local correction is developing within the corridor of 89.50–102.00, the breakout of which will be a key moment for further global growth of the trading instrument. Technical indicators reversed and gave a buy signal: fast EMAs on the Alligator indicator crossed the signal line upwards, and the AO oscillator histogram is forming rising bars in the buying zone. Trading tips Long positions may be opened after the price rises and consolidates above 102.00 with the target at 125.00. Stop loss – 98.00. Implementation period: 7 days or more. Short positions may be opened after a reversal, reduction, and consolidation of the price below 89.50 with the target at 69.00. Stop loss – 95.00. 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 PayPal Holdings Inc. and trade efficiently with NPBFX. Link to comment Share on other sites More sharing options...
Antony_NPBFX Posted September 16, 2022 Author Report Share Posted September 16, 2022 Apple Inc.: technical analysis 16.09.2022 Good afternoon, dear forum visitors! NPBFX offers the latest release of analytics on Apple Inc. for a better understanding of the current market situation and more efficient trading. Shares of Apple Inc., the global giant in the development and sale of personal and tablet computers, are moving in a corrective trend around 152.00. On the daily chart, the quotes remain within the global Expanding formation pattern, forming a new downward wave, which has already almost reached its intermediate target at the 61.8% Fibonacci full retracement around 146.00. On the four-hour chart, it can be seen that the current movement is developing according to the classical structure. After rebounding from the initial correction of 23.6% Fibonacci around 163.80, the price continued its global decline, almost breaking the intermediate correction of 50.0% Fibonacci around 151.50, which is key support for the current trend. Technical indicators confirm the high probability of continued decline: the Alligator indicator's EMA oscillation range expands downwards, and the histogram of the AO oscillator forms downward bars in the sell zone. Trading tips Short positions may be opened after the price drops and consolidates below 151.50 with the target at 146.40. Stop loss – 154.00. Implementation period: 7 days or more. Long positions may be opened after the price rises and consolidates above 157.10 with the target at 163.80 and stop loss 155.00. Use more opportunities of the NPBFX analytical portal: weekly FOREX forecast You can learn more about the current situation on Apple Inc. 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 GBP/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 Apple Inc. and trade efficiently with NPBFX. Link to comment Share on other sites More sharing options...
Antony_NPBFX Posted September 19, 2022 Author Report Share Posted September 19, 2022 AUD/USD: decline pending US Fed decision 19.09.2022 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 shows near-zero trading dynamics, consolidating at 0.6700. At the end of last week, the AUD/USD pair managed to show a slight corrective growth and retreated from the record lows of June 2020. Market activity remains low as market participants look forward to a two-day meeting of the US Federal Reserve. Investors are counting on an increase in interest rates by the US regulator by another 75 basis points, with some analysts pointing to a possible correction by 100 basis points at once. In addition, the department is expected to publish updated forecasts for inflation and economic growth. Macroeconomic statistics, which have been released recently, allows us to expect that the US economy will cope with a sharp increase in the cost of borrowing. In any case, at the moment the likelihood of a recession remains low, especially compared to Europe. Australian investors are also waiting for the publication of the minutes of the meeting of the Reserve Bank of Australia (RBA) on Tuesday. Over the past 5 months, the Australian regulator raised the interest rate by 225 basis points to 2.35%. At the same time, the Governor of the RBA, Philip Lowe, pointed to the continuation of the course of tightening monetary policy in the future. Support and resistance Bollinger Bands in D1 chart demonstrate a moderate decrease. The price range is narrowing, reflecting ambiguous dynamics of trading in the short term. MACD is going down, keeping a fairly stable sell signal (located below the signal line). Stochastic, having fallen below the level of "20", reversed into a horizontal plane, indicating the risks of corrective growth in the ultra-short term. Resistance levels: 0.6750, 0.6800, 0.6853, 0.6900. Support levels: 0.6700, 0.6650, 0.6600, 0.6550. Trading tips Short positions may be opened after a breakdown of 0.6650 with the target at 0.6550. Stop-loss — 0.6700. Implementation time: 2-3 days. The breakout of 0.6750 may be a signal to open new long positions with the target of 0.6853. Stop-loss — 0.6700. 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 September 21, 2022 Author Report Share Posted September 21, 2022 EUR/USD: euro remains under pressure ahead of the publication of the decision of the US Federal Reserve 21.09.2022 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 mixed trading dynamics, consolidating near 0.9950. Investors are in no hurry to open new trading positions, preferring to wait for the publication of the US Federal Reserve decision on interest rates. However, the euro still traded mainly with a downtrend, which again led to the consolidation of the instrument below the psychological level of 1.0000. Some pressure on the EUR/USD pair was exerted by the deteriorating prospects for the region's economy, in connection with which the authorities are taking decisive action to curb inflation. In particular, the President of the European Central Bank (ECB), Christine Lagarde, spoke the day before, saying that in order to curb a sharp rise in prices, it may be necessary to raise interest rates to levels that will limit economic growth altogether. The current inflation rate in the eurozone is above 9.0% and is unlikely to fall anytime soon. Macroeconomic data released yesterday in Germany pointed to a sharp rise in producer prices. In August, the Producer Price Index rose by 7.9% after rising by 5.3% a month earlier, while analysts expected a slowdown to 1.5%, and in annual terms, the index accelerated from 37.2% to 45.8%, which also turned out to be higher than the estimated 37.5%. 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 reversing downwards forming a sell signal (trying to consolidate below the signal line). Stochastic, having shown a weak rebound from the level of "20", reversed into a horizontal plane, reacting to the emergence of multidirectional trading dynamics in the ultra-short term. Resistance levels: 1.0000, 1.0050, 1.0100, 1.0150. Support levels: 0.9950, 0.9900, 0.9850, 0.9800. Trading tips Short positions may be opened after a breakdown of 0.9950 with the target at 0.9850. Stop-loss — 1.0000. Implementation time: 1-2 days. A rebound from 0.9950 as from support followed by a breakout of 1.0000 may become a signal for opening new long positions with the target at 1.0100. Stop-loss — 0.9950. 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 September 23, 2022 Author Report Share Posted September 23, 2022 GBP/USD: pound holds near record lows 23.09.2022 Good afternoon, dear forum visitors! NPBFX offers the latest release of analytics on GBP/USD for a better understanding of the current market situation and more efficient trading. Current trend The British pound is trading with a weak downward momentum, holding near record lows. The GBP/USD pair is testing 1.1230 for a breakdown, remaining under pressure after the US Federal Reserve decided to raise interest rates by 75 basis points. Now the rate is in the range of 3.00-3.25% and, according to the forecasts of the regulator, by the end of this year it can be adjusted to 4.40% (an increase of up to 4.25% was expected earlier), and next year it may be increased up to 4.60% (against the expected 4.50%). The tightening of monetary stimulus will lead to increased pressure on the economy and a slowdown in the growth of Gross Domestic Product (GDP) in the United States this year to 0.2%, and to 1.2% next year. The pound was slightly supported by the decision of the Bank of England to raise the interest rate by 50 basis points to 2.25%, which coincided with the analysts' forecast, and therefore did not cause significant changes in the market. In addition, traders drew attention to the comments of the British regulator, which suggest that the decline in national GDP may begin as early as the third quarter, and then the economy may enter into recession. The Bank of England also expects inflation to peak in October around 11.0%, after which it will begin to weaken. Support and resistance Bollinger Bands in D1 chart demonstrate a moderate decrease. The price range is widening from below but does not conform to the development of the "bearish" trend yet. MACD is going down preserving a stable sell signal (located below the signal line). Stochastic, having approached its lows, reversed into a horizontal plane, indicating risks of an oversold GBP in the ultra-short term. Resistance levels: 1.1300, 1.1349, 1.1404, 1.1478. Support levels: 1.1210, 1.1140, 1.1060, 1.1000. Trading tips Short positions may be opened after a breakdown of 1.1210 with the target at 1.1060. Stop-loss — 1.1300. Implementation time: 1-2 days. A rebound from 1.1210 as from support followed by a breakout of 1.1300 may become a signal for opening new long positions with the target at 1.1478. Stop-loss — 1.1210. 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. Link to comment Share on other sites More sharing options...
Antony_NPBFX Posted September 26, 2022 Author Report Share Posted September 26, 2022 EUR/USD: European currency remains under pressure 26.09.2022 Good afternoon, dear forum visitors! NPBFX offers the latest release of analytics on EUR/USD for a better understanding of the current market situation and more efficient trading. Current trend The European currency shows a downtrend, renewing new record lows and dropping below 0.9550, after which the EUR/USD pair still showed an uncertain corrective rebound. The instrument was falling against the US dollar at a moderate pace throughout the past week, and the culmination of the "bearish" dynamics fell on Friday, when disappointing statistics came to the market. S&P Global Manufacturing PMI in Germany fell from 49.1 points to 48.3 points in September, the Services PMI decreased from 47.7 points to 45.4 points, and the Composite PMI decreased from 46.9 points to 45.9 points against the expected 46.0 points. In turn, in the euro area, the Manufacturing PMI fell from 48.9 points to 48.2 points, and the Services PMI declined from 49.8 points to 48.9 points. The focus of investors today will be the speeches of representatives of the European Central Bank (ECB), among which are Luis de Guindos, Fabio Panetta, and the President of the regulator Christine Lagarde. Meanwhile, European authorities have lifted some of the August restrictions on the import of Russian coal. In particular, companies are now allowed to transport minerals to third countries, including through the eurozone. As noted, the decision was made to fight for food and energy security. At the moment, due to the rapid rise in gas prices and sanctions on its transportation, coal is once again becoming a demanded resource for electricity generation. According to the Bruegel think tank, Russia provided about 70% of the EU's needs for energy solid fuels. Support and resistance On the D1 chart, the Bollinger Bands are gradually reversing into a descending plane. The price range is expanding but it fails to conform to the "bearish" activity at the moment. MACD is going down preserving a stable sell signal (located below the signal line). Stochastic, having reached its lows, is trying to reverse upwards, indicating the risks of EUR being oversold in the ultra-short term. Resistance levels: 0.9700, 0.9800, 0.9850, 0.9900. Support levels: 0.9549, 0.9450, 0.9400, 0.9300. Trading tips Short positions may be opened after a breakdown of 0.9549 with the target at 0.9400. Stop-loss — 0.9600. Implementation time: 1-2 days. A rebound from 0.9549 as from support followed by a breakout of 0.9700 may become a signal for opening new long positions with the target at 0.9850. Stop-loss — 0.9620. Use more opportunities of the NPBFX analytical portal: weekly FOREX forecast You can learn more about the current situation on Apple Inc. 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 GBP/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 EUR/USD and trade efficiently with NPBFX. Link to comment Share on other sites More sharing options...
Antony_NPBFX Posted September 28, 2022 Author Report Share Posted September 28, 2022 Apple Inc.: technical analysis 28.09.2022 Good afternoon, dear forum visitors! NPBFX offers the latest release of analytics on Apple Inc. for a better understanding of the current market situation and more efficient trading. Shares of Apple Inc., the global giant in the development and sale of personal and tablet computers, are moving in a corrective trend around the level of 152.00. On the daily chart, the price is within the global Expanding Formation pattern, forming another descending wave, which almost reached its intermediate target at 61.8% Fibonacci retracement around 147.00. On the four-hour chart, it is clearly seen that the potential for the continuation of the downward dynamics is quite high, since the quotes of the trading instrument are held between the Fibonacci retracement levels of 50.0% and 61.8%. Consolidation below the level of 147.00 will mean that the correction has turned into a full-fledged trend, the next target for which may be the annual low of 130.00. At the moment, the EMA fluctuation range on the Alligator indicator continues to expand in the direction of decline, and the AO oscillator histogram, being in the sell zone, is forming new downward bars. Trading tips Short positions should be opened after the price consolidates below the full correction level at 147.50 in order to reach the support level of 137.80. Stop-loss — 151.00. Implementation time: 7 days and more. Long positions should be opened after the price consolidates above the intermediate correction level at 153.00 with the target at 165.00 and stop-loss at 150.00. 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 Apple Inc. and trade efficiently with NPBFX. Link to comment Share on other sites More sharing options...
Antony_NPBFX Posted September 30, 2022 Author Report Share Posted September 30, 2022 USD/CHF: Swiss authorities lowered forecasts for GDP growth this year 30.09.2022 Good afternoon, dear forum visitors! NPBFX offers the latest release of analytics on USD/CHF for a better understanding of the current market situation and more efficient trading. Current trend The US dollar shows multidirectional trading dynamics, testing the level of 0.9745 for a breakdown. At the end of the week, "bearish" sentiments are still traced; however, the US currency receives support from macroeconomic data. In addition, investors are confident in the further tightening of monetary policy by the US Federal Reserve, while some of the world's central banks are already carrying out foreign exchange interventions. In turn, the Swiss franc is under pressure from the macroeconomic background from Europe. In Germany, the Consumer Price Index in September rose from 7.9% to 10.0% in annual terms, while markets expected an increase to only 9.4%, and in monthly terms, the figure accelerated from 0.3% to 1.9% , also well ahead of forecasts at 1.3%. The Harmonized Consumer Price Index for the same period rose from 8.8% to 10.9%, contrary to expectations at 10.0%. Additional pressure on quotes was exerted by data on the eurozone: Economic Sentiment Indicator in September decreased from 97.3 points to 93.7 points with a forecast of 95.0 points, and the Services Sentiment indicator for the same period fell from 8.1 points to 4.9 points with expectations of correction only up to 7.0 points. The Swiss government has lowered its forecast for Gross Domestic Product (GDP) growth this year to 2.0% from 2.6% in June. For 2023, preliminary estimates have been adjusted from 1.9% to 1.1% amid an evolving energy crisis and a sharp rise in consumer prices, which worsen the economic outlook. The tense geopolitical situation contributes to the negative dynamics, in particular, the escalation of the military conflict in Ukraine, which will continue to put pressure on some industry segments, primarily on the export-oriented sectors of the Swiss economy. Support and resistance Bollinger Bands in D1 chart show moderate growth. The price range is narrowing from below, reflecting the ambiguous dynamics of trading in the short term. MACD is going down, keeping a fairly 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 USD in the ultra-short term. Resistance levels: 0.9762, 0.9807, 0.9868, 0.9930. Support levels: 0.9700, 0.9650, 0.9600, 0.9550. Trading tips Short positions may be opened after a breakdown of 0.9700 with the target at 0.9600. Stop-loss — 0.9762. Implementation time: 2-3 days. The breakout of 0.9807 may be a signal to open new long positions with the target of 0.9930. Stop-loss — 0.9740. Use more opportunities of the NPBFX analytical portal: E-book If you just recently started to be interested in trading on FOREX and would like to deepen your knowledge, an electronic Beginner's Guide to FOREX Trading will be an excellent helper for you here. The book consists of 5 chapters and reflects fundamental concepts of the foreign exchange market to start successful trading. From the main chapters of the E-book you can learn about the concepts and history of FOREX, currencies and trend lines, technical indicators, types of orders, trading on news, psychology of trading, risk management and much more. You can read a Beginner's guide to FOREX Trading online or download it free of charge from the NPBFX analytical portal in the "Education" section. In order to get unlimited access to the E-book and other useful instruments on the portal, you need to register on the NPBFX website. If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist. Use the current recommendations of analysts on USD/CHF and trade efficiently with NPBFX. Link to comment Share on other sites More sharing options...
Antony_NPBFX Posted October 3, 2022 Author Report Share Posted October 3, 2022 USD/JPY: US dollar holds near its record highs 03.10.2022 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 American currency continues its moderate growth during the Asian session, again testing the psychological level of 145.00 for a breakout. The US dollar is in high demand among investors in anticipation of further tightening of monetary policy by the US Federal Reserve. It is predicted that by the end of the year the regulator will make at least one more large increase in the indicator, and the adjustment can immediately reach 1.25%. In turn, the Bank of Japan does not change its wait-and-see tactics, as it fears the return of the previous deflationary risks. The published macroeconomic statistics from Japan put additional pressure on the yen. Tankan Large Manufacturing Index in the third quarter showed a decrease from 9.0 points to 8.0 points, while analysts expected growth to 11.0 points, and the Jibun Bank Manufacturing PMI in September fell from 51.0 points to 50.8 points with a forecast of 51.5 points. US investors will be watching today for data from the Institute of Supply Management (ISM), which reflects the state of business activity in the national manufacturing industry and is calculated based on a survey of purchasing and supply managers of leading national enterprises in all industries. The indicator is projected to decrease from 52.8 points to 52.2 points. In addition, during the day there will be a number of speeches by representatives of the US Federal Reserve. Support and resistance On the daily chart, Bollinger Bands are growing moderately. The price range is slightly expanding, but it fails to keep pace with the "bullish" activity of recent days. MACD is going down, keeping a fairly stable sell signal (located below the signal line). Stochastic shows a steady uptrend, but is located in close proximity to its highs, which points to the risk of overbought dollar in the ultra-short term. Resistance levels: 145.00, 146.00, 147.00, 148.00. Support levels: 144.00, 142.54, 141.50, 140.78. Trading tips Long positions can be opened after a breakout of 145.00 with the target of 147.00. Stop-loss — 144.00. Implementation time: 2-3 days. A rebound from 145.00 as from resistance, followed by a breakdown of 144.00 may become a signal for opening of new short positions with the target at 142.54. Stop-loss — 144.80. 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 USD/JPY and trade efficiently with NPBFX. Link to comment Share on other sites More sharing options...
Antony_NPBFX Posted October 5, 2022 Author Report Share Posted October 5, 2022 USD/CAD: flat trading dynamics 05.10.2022 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 flat trading dynamics against the Canadian currency, consolidating near 1.3520. Quotes have been actively declining since the beginning of the current week, and in just two trading days the USD/CAD pair fell to the local lows of September 23. The pressure on the position of the instrument is exerted by weak macroeconomic statistics, which allowed investors to revise their forecasts regarding the pace of further tightening of monetary policy by the US Federal Reserve. In particular, market participants drew attention to the rapid drop in the Manufacturing PMI from 52.8 points to 50.9 points, against a forecast of 52.2 points, according to the Institute for Supply Management (ISM). The negative background intensified today, when a zero trend in the volume of manufacturing orders in the US was recorded in August after falling by 1.0% in the previous month, although analysts expected a value of 0.3%. JOLTS Job Openings in August also adjusted from 11.17 million to 10.053 million. On Wednesday, the market will focus on Automatic Data Processing's (ADP) private sector employment report, as well as the Institute for Supply Management's (ISM) September data set on US service sector business activity. Canada will publish statistics on International Merchandise Trade for August. Bank of Canada Governor Tiff Macklem said that high inflation requires policymakers to take decisive action, so officials will continue to raise interest rates despite the fact that the regulator has faced public criticism for increasing the cost of borrowing at a time when many Canadians can hardly afford the goods of the first need. Officials have adjusted the interest rate by 300 basis points in just six months, trying to return inflation to the target level of 2.0%. It is worth noting the effectiveness of the measures taken: in September, the figure fell from 8.1% to 7.0%. Support and resistance On the daily chart, Bollinger Bands are growing moderately. The price range is narrowing, reflecting a sharp change of trend in the short term. MACD rushed down, keeping a strong sell signal. Stochastic shows a steady decline, but is currently in close proximity to the zero level, which reflects the risks of oversold US dollar in the ultra-short term. Resistance levels: 1.3600, 1.3650, 1.3700, 1.3750. Support levels: 1.3500, 1.3440, 1.3400, 1.3350. Trading tips Short positions may be opened after a breakdown of 1.3500 with the target at 1.3350. Stop-loss — 1.3570. Implementation time: 2-3 days. A rebound from 1.3500 as from support followed by a breakout of 1.3600 may become a signal for opening new long positions with the target at 1.3750. Stop-loss — 1.3520. Use more opportunities of the NPBFX analytical portal: weekly FOREX forecast You can learn more about the current situation on Apple Inc. 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 GBP/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 USD/CAD and trade efficiently with NPBFX. Link to comment Share on other sites More sharing options...
Antony_NPBFX Posted October 7, 2022 Author Report Share Posted October 7, 2022 AUD/USD: the pair returns to record lows 07.10.2022 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 shows flat dynamics during the Asian session, consolidating near 0.6400. Investors are waiting for today's publication of macroeconomic statistics from the US on the situation on the labor market in September. Analysts' forecasts suggest that the economy will add about 250.0 thousand new jobs outside the agricultural sector after rising by 315.0 thousand in the previous month, while Unemployment will remain at the same level of 3.7%. A slight decrease in hourly wages is also possible, but otherwise the estimates are fairly neutral. In the meantime, the data from Australia released the day before put moderate pressure on the instrument. Thus, Export volumes in August added 2.6% after a sharp decline by 9.9% last month, while Imports for the same period increased by 4.5% after an increase of 5.2% earlier, mainly due to the supply of fuels and lubricants. However, a serious downward correction of the AUD/USD quotes is hindered by rising prices for commodities, primarily coal, which is one of the most important Australian export commodities. Meanwhile, Australia's Trade Surplus narrowed slightly in August from 8.733 million to 8.324 million Australian dollars, while analysts had expected the figure to rise to 10.500 million Australian dollars. Support and resistance On the daily chart, Bollinger Bands are steadily declining. The price range is narrowing, reflecting ambiguous dynamics of trading in the short term. MACD reversed into a descending plane, having formed 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 AUD in the ultra-short term. Technical indicators do not contradict the further development of the "bearish" trend in the short and/or ultra-short term. Resistance levels: 0.6450, 0.6522, 0.6572, 0.6650. Support levels: 0.6362, 0.6320, 0.6250, 0.6200. Trading tips Short positions may be opened after a breakdown of 0.6362 with the target at 0.6250. Stop-loss — 0.6415. Implementation time: 2-3 days. A rebound from 0.6362 as from support followed by a breakout of 0.6450 may become a signal for opening new long positions with the target at 0.6572. Stop-loss — 0.6380. 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 October 10, 2022 Author Report Share Posted October 10, 2022 USD/CAD: multidirectional trading dynamics 10.10.2022 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 During the Asian session, the USD/CAD pair is trading ambiguously, close to 1.3730. Market activity remains low as markets in the US and Canada are closed earlier in the week for national celebrations. Nevertheless, investors have at their disposal enough macroeconomic statistics for analysis. So, last Friday, the US and Canada published their report on labor markets for September: American data inspired traders with a sharp decline in the unemployment rate from 3.7% to 3.5%, as well as a moderate increase in the number of new jobs outside the agricultural sector by 263.0K, which was slightly better than the market's expectations of an increase of 250.0K. The average hourly wage slowed from 5.2% to 5.0%, maintaining the same rate of increase of 0.3% MoM. Investors believed that strong data on the labor market would allow the US Federal Reserve to continue tightening monetary policy. The next meeting of the regulator should take place in early November. Canadian statistics were no less optimistic: the change in the number of employed in September increased by 21.1K after a decrease of 39.7K last month, although forecasts suggested an increase of 20.0K. The unemployment rate fell from 5.4% to 5 .2%, staying above the 5.0% level for the fourth consecutive month, and the average hourly wage fell from 5.58% to 5.2%. Immigration Minister Sean Fraser said the government would begin implementing a new reform that will allow more than 500K international students already in Canada to work more than 20 hours a week from November 15, 2022, to December 31, 2023. The initiative aims to address the labor shortage in the country. Support and resistance On the daily chart, Bollinger Bands are rising steadily: the price range is narrowing, reflecting the ambiguous nature of trading in the short term. The MACD indicator maintains an upward trend and a poor buy signal (the histogram is above the signal line). Stochastic is growing steadily, quickly approaching its highs, reflecting that USD may become overbought in the ultra-short term. Resistance levels: 1.3759, 1.3836, 1.3900, 1.4000. Support levels: 1.3700, 1.3650, 1.3600, 1.3500. Trading tips Long positions may be opened after the breakout of 1.3759 with the target at 1.3900. Stop loss – 1.3690. Implementation period: 1–2 days. Short positions may be opened after the rebound from 1.3759 and the breakdown of 1.3700 with the target at 1.3600. Stop loss – 1.3759. Use more opportunities of the NPBFX analytical portal: E-book If you just recently started to be interested in trading on FOREX and would like to deepen your knowledge, an electronic Beginner's Guide to FOREX Trading will be an excellent helper for you here. The book consists of 5 chapters and reflects fundamental concepts of the foreign exchange market to start successful trading. From the main chapters of the E-book you can learn about the concepts and history of FOREX, currencies and trend lines, technical indicators, types of orders, trading on news, psychology of trading, risk management and much more. You can read a Beginner's guide to FOREX Trading online or download it free of charge from the NPBFX analytical portal in the "Education" section. In order to get unlimited access to the E-book and other useful instruments on the portal, you need to register on the NPBFX website. If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist. Use the current recommendations of analysts on USD/CAD and trade efficiently with NPBFX. Link to comment Share on other sites More sharing options...
Antony_NPBFX Posted October 12, 2022 Author Report Share Posted October 12, 2022 NZD/USD: consolidation near record lows 12.10.2022 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 shows near-zero dynamics, holding near the level of 0.5590. Today, the minutes of the last meeting of the US Federal Reserve will be published, which may reflect the readiness of the American regulator further to increase the interest rate by 75.0 basis points. However, in the speeches of representatives of the department, there are increasing doubts about the advisability of a sharp increase in the cost of borrowing due to the attendant risks of a slowdown in economic activity. The situation is complicated because measures aimed at tightening monetary policy are being taken by all the world's leading central banks at once. In the meantime, yesterday's data from New Zealand supported the instrument: retail sales using electronic payment cards in September rose by 1.4% MoM after increasing by 1.0% last month and accelerated from 26.9% to 28.6% YoY. On Wednesday, a report on the number of tourist arrivals will be released: in August, the value rose by 4748.8%, while analysts expected it to decline by 40.9%. Support and resistance On the daily chart, Bollinger Bands are actively decreasing: the price range is narrowing from above, reflecting the emergence of ambiguous trading dynamics in the short term. The MACD indicator tries to reverse upwards, keeping its previous sell signal (the histogram is below the signal line). Stochastic, having approached its lows, reversed into an ascending plane, signaling in favor of the development of corrective growth in the nearest time intervals. Resistance levels: 0.5650, 0.5720, 0.5800, 0.5850. Support levels: 0.5534, 0.5467, 0.5400, 0.5300. Trading tips Short positions may be opened after the breakdown of 0.5534 with the target at 0.5400. Stop loss – 0.5615. Implementation period: 2–3 days. Long positions may be opened after the breakout of 0.5650 with the target at 0.5800. Stop loss — 0.5580. Use more opportunities of the NPBFX analytical portal: analytics You can find more actual analytical reviews on other popular currency pairs, metals and CFDs on the NPBFX online portal. Daily analytics with charts, current market prognoses and trading scenarios in the Feed section are available. Get free and unlimited access to the online portal after registering on the official website of NPBFX Company. If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist. Use the current recommendations of analysts on NZD/USD and trade efficiently with NPBFX. Link to comment Share on other sites More sharing options...
Antony_NPBFX Posted October 14, 2022 Author Report Share Posted October 14, 2022 AUD/USD: the Australian dollar retreats from record lows 14.10.2022 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 shows moderate growth, retreating from the record lows of April 2020, updated the day before, when AUD/USD fell to 0.6170. The instrument reacted to the publication of US data on inflation, which increased the likelihood of the US Federal Reserve continuing its policy of tightening monetary stimulus. The Harmonized Consumer Price Index (excluding food and energy) in the US accelerated in September from 6.3% to 6.6%, ahead of forecasts at 6.5%. In turn, expectations for inflation in Australia in October, published by the Melbourne Institute, did not change compared to the previous month and amounted to 5.4%, while analysts expected growth to 5.8%. The focus of investors today is statistics on inflation in China. The Consumer Price Index in annual terms in September rose by 2.8% after rising by 2.5% in the previous month, and in monthly terms added 0.3% after falling by 0.1%, while analysts expected growth by 0.4%. At the same time, the Producer Price Index for the same period slowed down from 2.3% to 0.9%, while the forecast was for an increase of 1.0%. China's monetary authorities are in no hurry to follow the general trend of raising interest rates, and such inflation statistics are likely to only strengthen the regulator's position in the near future. The President of the World Bank, David Malpass, predicted a possible recession in the global economy as early as 2023 against the backdrop of a slowdown in developed countries and an increase in household debt burden due to the depreciation of national currencies. In addition, the agency predicts that about 7.0% or 570.0 million people will fall into extreme poverty (day spending does not exceed 2.15 dollars a day), noting that the coronavirus pandemic was a turning point that stopped a long period of reduction poverty, and the rapid pace of inflation and the escalation of the military conflict on the territory of Ukraine, which has become a catalyst for rising food prices, only aggravate the situation. Support and resistance Bollinger Bands in D1 chart demonstrate a moderate decrease. The price range is slightly narrowing, reflecting the ambiguous dynamics of trading in the short term. MACD has reversed to growth having formed a new buy signal (located above the signal line). Stochastic shows more active growth and is currently located approximately in the center of its area, signaling in favor of the development of corrective growth in the nearest time intervals. Resistance levels: 0.6362, 0.6450, 0.6522, 0.6572. Support levels: 0.6250, 0.6200, 0.6140, 0.6100. Trading tips Long positions can be opened after a breakout of 0.6362 with the target of 0.6522. Stop-loss — 0.6280. Implementation time: 2-3 days. A rebound from 0.6362 as from resistance, followed by a breakdown of 0.6250 may become a signal for opening of new short positions with the target at 0.6140. Stop-loss — 0.6310. Use more opportunities of the NPBFX analytical portal: weekly FOREX forecast You can learn more about the current situation on Apple Inc. 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 GBP/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 AUD/USD and trade efficiently with NPBFX. Link to comment Share on other sites More sharing options...
Antony_NPBFX Posted October 17, 2022 Author Report Share Posted October 17, 2022 The Walt Disney Co.: technical analysis 17.10.2022 Good afternoon, dear forum visitors! NPBFX offers the latest release of analytics on The Walt Disney Co. for a better understanding of the current market situation and more efficient trading. Shares of The Walt Disney Co., the American leader in the entertainment industry, are moving in a downward corrective trend around 94.00. On the daily chart, the price is within the global downwards channel with dynamic boundaries of 112.00–78.00, having renewed the annual low of 90.50 yesterday. On the four-hour chart, it can be seen that this mark remains the last barrier for buyers, and a little confidence in its strength is given by the “bullish” divergence signal that is currently being formed on the AO indicator, however, the trend in the dynamics of trading volumes suggests that the price may fall to the level 80.00. Technical indicators keep a stable sell signal: the EMA fluctuation range on the Alligator indicator expands downwards, and the AO oscillator histogram forms bars with a downward trend in the sell zone. Trading tips Short positions may be opened after the price drops and consolidates below 90.50 with the target at 80.00. Stop loss – 95.00. Implementation period: 7 days or more. Long positions may be opened after a reversal, growth, and consolidation of the price above 101.00 with the target at 112.00. Stop loss – 95.00. 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 The Walt Disney Co. and trade efficiently with NPBFX. Link to comment Share on other sites More sharing options...
Antony_NPBFX Posted October 19, 2022 Author Report Share Posted October 19, 2022 EUR/USD: consolidation at local highs 19.10.2022 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 mixed dynamics, consolidating near 0.9840 and local highs from October 6. Traders are once again in no hurry to open new positions against the backdrop of some stabilization of the market situation. In particular, analysts pay attention to the easing of energy risks for Europe as prices for "blue fuel" and oil decrease, while the volume of supplies of liquefied natural gas increases. In addition, pressure from the dollar is gradually easing, as the US Federal Reserve increasingly mentions the possibility of slowing down the pace of interest rate hikes in the near future. Macroeconomic statistics from Europe published yesterday did not have a noticeable impact on the instrument's dynamics. The index for Current Situation in Germany in October from the Center for European Economic Research (ZEW) showed a sharp decline from -60.5 points to -72.2 points, which turned out to be worse than market expectations of a fall to -68.0 points. At the same time, the index of Economic Sentiment in Germany from ZEW for the same period adjusted slightly from -61.9 points to -59.2 points, while forecasts suggested a further decline to -65.7 points. In the eurozone, the ZEW survey reflected a correction in the index of Economic Sentiment in October from -60.7 points to -59.7 points, while the forecast was -60.6 points. The President of the European Central Bank (ECB), Christine Lagarde, speaking at a meeting of the International Monetary Fund (IMF) predicted a "significant slowdown" in the region's economy in the second half of this year, the catalyst for which will be rapid inflation and reduced international demand. In addition, the official confirmed the continued tightening of monetary stimulus over the next few meetings of the regulator to slow down inflation, which now stands at 10.0%. The "hawks" hope to begin a gradual reduction in the amount of assets on the ECB's balance sheet in early 2023 (now valued at 5.1 trillion euros) by not reinvesting the proceeds from redeemable papers, rather than by selling bonds. Support and resistance On the D1 chart, Bollinger Bands are gradually reversing horizontally. The price range is slightly changing, being spacious enough for the current activity level in the market. MACD grows, preserving a stable buy signal (located above the signal line). Stochastic retains a steady uptrend, but is located in close proximity to its highs, which points to the risk of overbought euro in the ultra-short term. Resistance levels: 0.9900, 0.9950, 1.0000, 1.0050. Support levels: 0.9850, 0.9800, 0.9750, 0.9666. Trading tips Short positions may be opened after a breakdown of 0.9800 with the target at 0.9700. Stop-loss — 0.9850. Implementation time: 2-3 days. A rebound from 0.9800 as from support followed by a breakout of 0.9850 may become a signal for opening new long positions with the target at 0.9950. Stop-loss — 0.9800. 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 October 21, 2022 Author Report Share Posted October 21, 2022 GBP/USD: the political crisis in the UK puts pressure on the pound quotes 21.10.2022 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 GBP/USD is trading with a multidirectional dynamics, testing the level of 1.1200 for a breakdown. The British currency is still under pressure from the rising US dollar, which is supported by expectations of a tightening of the US Federal Reserve's monetary policy. The Bank of England is also set to further increase the interest rate, given the fact that inflation in the UK in September exceeded the psychological barrier of 10.0%; in addition, the regulator is considering launching a quantitative tightening program. At the same time, the Bank of England is forced to respond not only to economic challenges, but also to the political crisis. The day before, British Prime Minister Liz Truss announced her resignation after only 45 days in office, but the official will continue to fulfill her duties until the elections, which are to be held next week. Analysts call the former Chancellor of the Exchequer Rishi Sunak the most likely candidate for the post of chairman of the Conservative Party and the head of government. In addition, Boris Johnson announced the decision to return to his political career. Truss resigned after being criticized for an initiative to reduce the fiscal burden and subsidize utility bills. Today, investors are watching the publication of a block of macroeconomic statistics from the UK on the dynamics of Retail Sales: on a monthly basis, the indicator slowed down the negative dynamics from -1.6% to -1.4%, and on an annualized basis, on the contrary, strengthened it from -5.4% to -6.9%, while Retail Sales excluding Fuel on a monthly basis corrected from -1.6% to -1.5% with a forecast of -0.3%, and from -5.0% to -6.2% on an annual basis, although analysts expected -4.1%. Weak statistics may push the pound quotes to a new decline. Support and resistance On the D1 chart, the Bollinger Bands are gradually reversing into a descending plane. The price range is narrowing from above, reflecting the emergence of ambiguous dynamics in the short/ultra-short term. MACD reversed downwards having formed a new sell signal (located below the signal line). Stochastic shows a more confident decline, but at the moment it is rapidly approaching its lows, indicating risks of the instrument being oversold in the ultra-short term. Resistance levels: 1.1300, 1.1494, 1.1600, 1.1700. Support levels: 1.1150, 1.1060, 1.0922, 1.0600. Trading tips Short positions may be opened after a breakdown of 1.1150 with the target at 1.0900. Stop-loss — 1.1300. Implementation time: 1-2 days. A rebound from 1.1150 as from support followed by a breakout of 1.1300 may become a signal for opening new long positions with the target at 1.1600. Stop-loss — 1.1150. 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. Link to comment Share on other sites More sharing options...
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