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[Antony_NPBFX]

USD/JPY: Tokyo CPI up 3.0% in December 27.12.2024

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 USD/JPY pair is adjusting in a sideways trend at 157.56 amid the neutral dynamics of the American dollar and positive macroeconomic data from Japan.

Thus, in November, retail sales accelerated from 1.3% to 2.8%, although analysts expected 1.5% YoY and from 0.1% to 1.8% MoM, industrial production slowed from 2.8% to –2.3% YoY and from 1.4% to –2.8% MoM. There is not enough volatility in the market to change the situation. The Tokyo CPI rose as expected from 2.6% to 3.0%, and the core indicator – from 2.2% to 2.4%. Thus, the Bank of Japan officials may continue to tighten the monetary policy that some experts have been expecting since October.

The American dollar is trading at 107.90 in the USDX and is unlikely to be subject to significant volatility until the end of the year. Trading activity has fallen so much that investors have barely reacted to yesterday’s labor market report, which showed a decrease in the initial jobless claims from 220.0K to 219.0K. In contrast, the total claims increased from 1.864M to 1.910M, the high of this year.

Support and resistance

On the daily chart, the trading instrument is correcting within the local trend, holding close to the resistance line of the ascending channel with boundaries of 162.00–153.00.

Technical indicators have given a buy signal: fast EMAs on the Alligator indicator are moving away from the signal line, and the AO histogram is forming ascending bars in the positive zone.

Resistance levels: 158.20, 161.60.
Support levels: 156.30, 152.00.

Trading tips

Long positions may be opened after the price rises and consolidates above 158.20, with the target at 161.60. Stop loss is 157.00. Implementation period: 7 days or more.

Short positions may be opened after the price falls and consolidates below 156.30, with the target at 152.00. Stop loss is 159.00.

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

You can learn more about the current situation 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, 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/JPY and trade efficiently with NPBFX.

[Antony_NPBFX]

Alphabet Inc.: technical analysis 30.12.2024

Good afternoon, dear forum visitors!

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

Shares of the American holding Alphabet Inc. are trading at 194.00.

A correction trend is forming on the daily chart. Within it, the price is trying to break the resistance line of the ascending channel with dynamic boundaries of 206.00–178.00.

On the four-hour chart, the quotes are correcting, approaching the recent high of 200.00. The consolidation above will allow the price to reach 215.00. However, if the asset fails to consolidate above the low of December 20 at 187.00, the decline may continue to the channel’s support line at 170.00.

Technical indicators are strengthening the buy signal: fast EMAs on the Alligator indicator are moving away from the signal line, and the AO histogram is forming ascending bars in the positive zone.

Trading tips

Long positions may be opened after the price rises and consolidates above 199.00, with the target at 215.00. Stop loss is below 195.00. Implementation period: 7 days or more.

Short positions may be opened after the price declines and consolidates below 187.00, with the target at 169.00. Stop loss is 193.00.

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 Alphabet Inc. and trade efficiently with  NPBFX.

[Antony_NPBFX]

USD/CHF: the instrument is preparing to update annual highs 06.01.2025

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

During the Asian session, the USD/CHF pair quotes are held in a corrective trend at 0.9091. The franc starts the year slightly lower against the US dollar, helped by the break in trading during the New Year and Christmas holidays, as well as the recent rise in the US currency.

On Friday, the information portal procure.ch published the December report on the business activity index: the indicator fell to 48.4 points from 48.5 points previously, which had virtually no impact on the trading dynamics, since the main focus of the market's attention will be on the inflation statistics, which will be presented tomorrow at 09:30 (GMT+2). Analysts expect the Consumer Price Index to fall by 0.1% in December, which could slow the pace below 0.7% on an annual basis, and if the forecasts are correct, this would be a signal for the Swiss National Bank to adjust monetary parameters. It is unlikely that officials will decide to return the cost of borrowing to negative territory this year, but bringing it to the range of 0.25–0.00% is quite possible. 

Against the backdrop of stable dynamics of the franc, the recent rise in the American currency has not led to a significant change in the USD/CHF pair quotes: the dollar is currently trading around 108.600 in USDX, but the prospects for updating the annual highs this week are still high. First of all, the development of positive dynamics can be facilitated by the report on the business activity index in the manufacturing sector from the Institute of Supply Management (ISM): the indicator rose from 48.4 points to 49.3 points at the end of December, and if today the Services PMI justifies preliminary calculations and is adjusted from 56.1 points to 58.5 points, one should expect the American currency to strengthen its position.

Support and resistance

On the daily chart, the price is approaching the resistance line of the ascending channel with dynamic boundaries of 0.9230–0.8940.

Technical indicators are holding a buy signal, which is preparing to strengthen after the correction: fast EMAs on the Alligator indicator are moving away from the signal line, and the AO histogram is held in the buy zone, forming new ascending bars.

Support levels: 0.9060, 0.8940.
Resistance levels: 0.9120, 0.9220.

Trading tips

Long positions can be opened when the price consolidates above the resistance level of 0.9120 with the target of 0.9220. Stop-loss — 0.9050. Implementation time: 7 days and more.

Short positions can be opened after the price consolidates below the support level of 0.9060 with the target of 0.8940. Stop-loss — 0.9120.

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.

[Antony_NPBFX]

Cisco Systems Inc.: technical analysis 08.01.2025

Good afternoon, dear forum visitors!

NPBFX offers the latest release of analytics on Cisco Systems Inc. for a better understanding of the current market situation and more efficient trading.

Shares of Cisco Systems Inc., an American manufacturer and supplier of network equipment for large holdings and telecommunications companies, are trading at 59.00.

On the daily chart, the price is trading near a channel with dynamic boundaries of 63.00–58.00.

On the four-hour time frame, it is clear that the instrument is still holding above the support line at 58.00, which is an indirect confirmation of the continuation of the upward trend in the near future, as well as consolidation above the previous low along the trend, located at 57.00. A break of this level could be a catalyst for a move to the low at 54.50.

Technical indicators have almost completely reversed towards buying: fast EMAs on the Alligator indicator are above the signal line, and the AO histogram is forming new correction bars, holding above the transition level.

Trading tips

Long positions can be opened when the price consolidates above the resistance level of 60.00 with the target of 63.00. Stop-loss — 59.00. Implementation time: 7 days and more.

Short positions can be opened after the price consolidates below the support level of 57.40 with the target of 54.70. Stop-loss — 59.00.

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 Cisco Systems Inc. and trade efficiently with  NPBFX.

[Antony_NPBFX]

Starbucks Corp.: technical analysis 10.01.2025

Good afternoon, dear forum visitors!

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

Shares of Starbucks Corp., one of the largest companies that owns the coffee shop chain of the same name, are trading at 92.00.

On the daily chart, the instrument returns to the support line of the ascending channel with boundaries of 105.00–96.00 for its reverse testing.

On the four-hour time interval, it is clear that the correction movement is intensifying, so the quotes have stopped working out the price gap 91.00–77.00: having moved away from the low at 86.00, they are forming an ascending channel, which can work as a Flag pattern with a realization level of 90.00.

Technical indicators have not reversed yet and are holding a sell signal, indicating the potential for downward dynamics: fast EMAs on the Alligator indicator are below the signal line, maintaining a wide range of fluctuations, and the AO histogram, consolidating in the sales zone, forms new correction bars.

Trading tips

Short positions can be opened after the price consolidates below the support level of 90.50 with the target of 86.10. Stop-loss – 92.00. Implementation time: 7 days and more.

Long positions can be opened when the price reverses and consolidates above the resistance level of 94.50 with the target of 99.20. Stop-loss — 92.00.

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

You can learn more about the current situation 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, 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 Starbucks Corp. and trade efficiently with NPBFX.

[Antony_NPBFX]

Apple Inc.: technical analysis 13.01.2025

Good afternoon, dear forum visitors!

NPBFX offers the latest release of analytics on Apple Inc. or 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 at the level of 236.00.

On the daily chart, the price is held within the ascending channel with dynamic boundaries of 265.00–230.00, approaching the support line.

On a four-hour time interval, it is clear that the current dynamics of the instrument may lead the quotes to the low of last autumn at 225.00, and then the main support for them will only be the level of 210.00.

Technical indicators indicate a high probability of continuation of the downward movement: fast EMAs on the Alligator indicator are below the signal line and are preparing to strengthen the already stable sell signal, and the AO histogram, fixing below the transition level, forms downward bars.

Trading tips

Short positions can be opened after the price consolidates below the support level of 232.00 with the target of 215.00. Stop-loss — 240.00. Implementation time: 7 days and more.

Long positions can be opened after the price consolidates above the resistance level of 242.00 with the target at 258.00 and stop-loss at 235.00.

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 Apple Inc. and trade efficiently with NPBFX.

[Antony_NPBFX]

IBM Corp.: technical analysis 15.01.2025

Good afternoon, dear forum visitors!

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

Shares of IBM Corp., the hardware and software giant, are moving in a corrective trend at 215.00.

On the daily chart, the price is moving away from the support line of the ascending channel with dynamic boundaries of 245.00–217.00, falling towards one of the autumn lows of 202.00.

On the four-hour time frame, despite the high potential for strengthening the downward dynamics, correction is also considered as a possible scenario if the instrument consolidates above 220.00. If quotes return to the above-mentioned channel, the movement will continue towards the resistance line in the area of 250.00.

Technical indicators strengthen the sell signal: fast EMAs on the Alligator indicator move away from the signal line, expanding the range of fluctuations, and the AO histogram forms new descending bars, falling in the sales zone.

Trading tips

Short positions can be opened after the price consolidates below the support level of 212.00 with the target at 203.00 and stop-loss at 216.00. Implementation time: 7 days and more.

Long positions can be opened when the price consolidates above the resistance level of 219.00 with the target of 232.00. Stop-loss — 214.00.

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 IBM Corp. and trade efficiently with  NPBFX.

[Antony_NPBFX]

Intel Corp.: technical analysis 17.01.2025

Good afternoon, dear forum visitors!

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

Shares of Intel Corp., a giant in the design and sale of electronic devices and computer components, are trading at the level of 19.00.

On the daily chart, the price is held in the correction channel 27.00–18.00 near the support line.

On the four-hour time interval, it is clear that the prospects for continuing the downward dynamics have increased after reaching 18.50, and now the price is preparing to overcome the annual low, and then the support area of 13.00. However, the instrument may regain its positions if it consolidates above 21.00.

Technical indicators have reversed and are holding a steady sell signal: the EMA fluctuation range on the Alligator indicator is expanding in the downward direction, and the fast EMAs are moving away from the signal line, while the AO histogram is forming new downward bars below the transition level.

Trading tips

Short positions can be opened after the price consolidates below the support level of 18.50 with the target at 12.60 and stop-loss at 20.00. Implementation time: 7 days and more.

Long positions should be opened after the price consolidates above the resistance level of 20.90 with the target of 26.20. Stop-loss — 19.00.

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

You can learn more about the current situation 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, 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 Intel Corp. and trade efficiently with NPBFX.

[Antony_NPBFX]

General Electric Co.: technical analysis 20.01.2025

Good afternoon, dear forum visitors!

NPBFX offers the latest release of analytics on General Electric Co. or a better understanding of the current market situation and more efficient trading.

The shares of General Electric Co., the American diversified corporation, are traded at 183.00.

On the daily chart, the price maintains stable dynamics within the correction trend, forming an ascending channel with dynamic boundaries 207.00–165.00.

On the four-hour chart, the quotes can reach the resistance line of 206.00 before the end of the month. Then, the reversal and slowdown are likely. In case of a breakdown of the support level of 176.00, a decrease may renew the low of mid-December at 159.00.

Technical indicators enhance the purchase signal: fast EMAs on the Alligator indicator move away from the signaling line, expanding the oscillation range, and the AO histogram forms ascending bars above the transition level.

Trading tips

Long positions may be opened after the growth and consolidation of prices above 187.00 with the target at 205.00. Stop loss is 180.00. Implementation period: 7 days or more.

Short positions may be opened after a decrease and consolidation of prices below 176.50 with the target at 159.30. Stop loss is 181.00.

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 General Electric Co. and trade efficiently with NPBFX.

[Antony_NPBFX]

Tesla Inc.: technical analysis 22.01.2025

Good afternoon, dear forum visitors!

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

Shares of Tesla Inc., a leading manufacturer of electric cars, are correcting at 423.00.

On the daily chart, the price is holding in the middle of the ascending channel with dynamic boundaries of 520.00–330.00.

On the four-hour chart, the quotes reached an intermediate low of 378.00, reversed, and began to grow to the resistance level of 520.00. After returning to the extreme and consolidating below it, a decline and a breakdown of the channel’s support line of 330.00 may follow.

Technical indicators maintain an unstable buy signal: fast EMAs on the Alligator indicator are above the signal line, maintaining a narrow fluctuation range, and the AO histogram forms ascending bars in the positive zone.

Trading tips

Long positions may be opened after the price grows and consolidates above 446.00, with the target at 519.00. Stop loss — 420.00. Implementation period: 7 days or more.

Short positions may be opened after the price declines and consolidates below 404.00, with the target at 334.00. Stop loss — 420.00.

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 Tesla Inc. and trade efficiently with  NPBFX.

[Antony_NPBFX]

Pfizer Inc.: technical analysis 24.01.2025

Good afternoon, dear forum visitors!

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

Shares of Pfizer Inc., the largest American pharmaceutical company, are correcting at 26.00.

On the daily chart, the price is holding in the support area of the channel with dynamic boundaries of 27.50–25.50, preparing for an increase in the downward trend.

On the four-hour chart, the quotes could not consolidate below the support line 25.80 and continued to build a channel resembling the Flag trend continuation pattern. Its implementation may begin after consolidation below 25.50. In case of an exit from the formation, there will be practically no barriers to the decline, and the asset may reach the low of 24.50.

Technical indicators are weakening the buy signal: fast EMAs on the Alligator indicator are approaching the signal line from above, and the AO histogram is ready to form downward bars in the positive zone.

Trading tips

Short positions may be opened after the price declines and consolidates below 25.80, with the target at 24.50. Stop loss — 26.30. Implementation period: 7 days or more.

Long positions may be opened after the price grows and consolidates above 26.60, with the target at 28.20. Stop loss — 26.10.

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

You can learn more about the current situation 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, 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 Pfizer Inc. and trade efficiently with NPBFX.

[Antony_NPBFX]

PayPal Holdings Inc.: technical analysis 27.01.2025

Good afternoon, dear forum visitors!

NPBFX offers the latest release of analytics on PayPal Holdings Inc. or a better understanding of the current market situation and more efficient trading.

Shares of PayPal Holdings Inc., an American debit payment system, are correcting at 89.00.

On the daily chart, the price is moving within an ascending channel with dynamic boundaries of 100.00–86.00.

On the four-hour chart, the quotes tested the support level of 86.00 and retreated to 89.00. After a breakout of the high of 93.00, the asset may grow to 100.00.

Technical indicators hold the buy signal: fast EMAs on the Alligator indicator are above the signal line, retreating from it, and the AO histogram forms correction bars in the buy zone.

Trading tips

Long positions may be opened after the price rises and consolidates above 92.00, with the target at 98.40. Stop loss is 90.00. Implementation period: 7 days or more.

Short positions may be opened after the price falls and consolidates below 86.60, with the target at 81.40. Stop loss is 89.00.

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 PayPal Holdings Inc. and trade efficiently with NPBFX.

[Antony_NPBFX]

EUR/USD: pending decisions by the US Federal Reserve and the ECB on monetary policy 29.01.2025

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 is showing slight growth in the EUR/USD pair during the Asian session, correcting after a sharp decline the day before. The instrument is testing 1.0440 for a breakout, while traders are expecting new drivers of quotes and specifics in the tariff policy of US President Donald Trump. The day before, the American currency once again demonstrated growth, receiving support from new statements by the head of the White House about the intention to introduce duties on computer chips, pharmaceuticals and steel imported into the country in order to stimulate local producers. It should also be noted that 25.0% tariffs on imports from Canada and Mexico are to be introduced from February 1, but no decisions have yet been made regarding goods from the EU and China.

The US macroeconomic statistics released yesterday were mixed: Durable Goods Orders fell 2.2% in December after –2.0% in the previous month, while analysts had expected growth of 0.8%, and Durable Goods Orders excluding Transportation increased by 0.3% after –0.2% in November, with a forecast of 0.4%. The Richmond Federal Reserve Bank's Manufacturing Business Activity Index rose to –4.0 from –10.0 in January, compared to expectations of –8.0.

Today, at 21:00 (GMT+2), the results of the US Federal Reserve meeting will be known: investors are confident that the interest rate will remain at 4.50%, but allow for some additional softening of the position regarding future adjustments to the value against the backdrop of President Donald Trump's tariff policy. European Central Bank (ECB) officials meet tomorrow at 15:15 (GMT+2): forecasts suggest that borrowing costs will be cut from 3.15% to 2.90%, while they had previously been confident that the regulator could cut the rate at each meeting until this summer, which would allow it to fall below 2.00%.

The results of an ECB survey were published yesterday, according to which in the last quarter of last year, eurozone financial institutions tightened companies' access to credit, and the negative trend is likely to continue in the first three months of this year. Experts note that borrowing volumes are falling amid weak consumption, falling demand for exports and falling government spending. The regulator's analysts also point out that lending standards are tightening in all sectors, but especially in commercial real estate, wholesale and retail trade, construction and energy-intensive manufacturing.

Support and resistance

Bollinger Bands on the daily chart show a steady increase. The price range is slightly narrowed from below, remaining spacious enough for the current market activity. MACD indicator tries to reverse downwards and is forming a new sell signal (the histogram is about to consolidate below the signal line). Stochastic shows a more confident decline, retreating rapidly from its highs, signaling the risks of the single currency being overbought in the ultra-short term.

Resistance levels: 1.0456, 1.0500, 1.0554, 1.0600.
Support levels: 1.0400, 1.0350, 1.0300, 1.0253.

Trading tips

Short positions may be opened after a breakdown of 1.0400 with the target at 1.0300. Stop-loss — 1.0456. Implementation time: 2-3 days.

The return of the "bullish" trend with the breakout of 1.0456 may become a signal for new purchases with the target of 1.0554. Stop-loss — 1.0400.

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

You can learn more about the current situation 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, 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 EUR/USD and trade efficiently with NPBFX.