USD/JPY: active growth 11.01.2021

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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 is actively growing, trading at 104.20.

JPY began to decline significantly in relation to its main competitors. This is facilitated, firstly, by the heavy snowfalls that have continued since the middle of last week, which have caused the cancellation of more than 500 domestic flights. The second reason for the negative dynamics for the instrument was rather weak macroeconomic statistics from Japan. Household Spending in November fell to –1.8% from 2.1% in October, while the yield on 30-year JGB auctioned remained at 0.648%.

USD continued to rise, despite the negative data on the US labor market, published on Friday. Nonfarm Payrolls in December decreased by 140K against the forecast of an increase of 71K, and Private Nonfarm Payrolls decreased by 95K against the expected increase by 98K.

Support and resistance

On the global chart, the price continues to rise within the downtrend channel and may reach the resistance line levels this week. Technical indicators are in a global sell state but are preparing to reverse. The fluctuation range of the Alligator indicator EMAs began to actively narrow, and the histogram of the AO oscillator is forming upward bars, being in the sell zone.

Resistance levels: 104.46, 105.65.
Support levels: 103.77, 102.60.

Trading tips

If the asset continues correctional growth and the price consolidates above the resistance level of 104.46, long positions will be relevant with target at 105.65. Stop-loss – 104.00. Implementation time: 7 days and more.

If the asset continues to decline and the price consolidates below the local support at 103.77, short positions can be opened with the target at 102.60. Stop-loss – 104.20.

Use more opportunities of the NPBFX analytical portal: economic indicators

Regular monitoring of global economic indicators plays an important role in trading, because of their strong influence on FOREX market and possibility to provoke significant price fluctuations. For the convenience of traders the "Education" section on the NPBFX portal contains the most popular and significant world economic indices with a detailed description, their possible impact on the economy and exchange rates (GDP, consumer price index, unemployment rate, Nonfarm Payrolls (NFP), etc.).

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USD/CHF: upward correction 15.01.2021

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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 USD/CHF pair is correcting upwards, trading at 0.8885.

The day before, CHF was supported by the message that the Swissmedic Institute approved the use of the vaccine against the coronavirus from Moderna Inc., with which Switzerland signed a contract for the supply of 7.5M doses, 200K doses of which will be sent to the country's regions in the near future.

USD continues its volatile dynamics and today began trading from levels above the key level of 90 points in the index. Macroeconomic statistics from the US were contradictory. The Import Price Index in December was 0.9% instead of the expected 0.7%, and the Export Price Index amounted to 1.1%, which is higher than the projected 0.4%. The data on the number of Initial Jobless Claims disappointed investors: the figure was 965K against the expected 795K.

Support and resistance

The asset continues to trade within a narrow local descending channel, which increasingly resembles a Head and Shoulders pattern. Technical indicators on the local interval are still directed towards purchase, but the signals are not clear. The fast EMAs of the Alligator indicator are above the signal line, and the histogram of the AO oscillator is in the positive zone, close to the transition level.

Resistance levels: 0.8920, 0.9020.
Support levels: 0.8857, 0.8768.

Trading tips

If the asset continues correctional growth and the price consolidates above the local resistance at 0.8920, long positions will be relevant with target at 0.9020. Stop-loss – 0.8860. Implementation time: 7 days and more.

If the asset continues to decline and the price consolidates below the local support at 0.8857, short positions can be opened with the target at 0.8768. Stop-loss – 0.8900.

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XAU/USD: gold is in demand again 20.01.2021

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

Current trend

Gold prices are rising significantly during today's Asian session, updating local highs of January 15. The instrument is testing the level of 1850.00 for a breakout. Noticeable pressure on USD was exerted by the speech of the candidate for the post of the US Treasury Secretary Janet Yellen, who spoke in favor of a gradual return of the "strong dollar policy". In any case, it seems that the Joe Biden administration will not engage in artificial weakening of the national currency, as well as prosecute other countries for such actions. In addition, investors are looking forward to Biden's inauguration today, and also expect quick decisions on the announced USD 2 trillion support package for the US economy.

Support and resistance

Bollinger Bands in D1 chart demonstrate a stable decrease. The price range expands from below, weakly reacting to the appearance of ambiguous trading dynamics in the nearest future. MACD is reversing to growth forming a new buy signal (located above the signal line). Stochastic keeps its upward direction but is rapidly approaching its highs, which reflects the risks of overbought instrument in the ultra-short term. Technical indicators do not contradict the further development of the uptrend in the short and/or ultra-short term.

Resistance levels: 1850.00, 1863.34, 1875.09, 1900.00.
Support levels: 1830.00, 1811.96, 1800.00.

Trading tips

To open long positions, one can rely on the breakout of 1863.34. Take-profit – 1900.00. Stop-loss – 1840.00. Implementation time: 2-3 days.

A rebound from 1863.34 as from resistance followed by a breakdown of 1850.00 may become a signal for new sales with the target at 1811.96. Stop-loss – 1870.00.

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USD/JPY: USD is correcting 25.01.2021

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

USD is showing slight gains against JPY, supported by strong macroeconomic statistics that were released in the US late last week. In addition to positive data on business activity, investors also paid attention to the dynamics of the secondary housing market. December sales in the US existing home market rose by 0.7% MoM after falling by 2.2% MoM in the previous month. Analysts had expected negative dynamics to remain at –1.4% MoM.

Japanese statistics, in turn, somewhat disappointed investors with a drop in the Manufacturing PMI from Jibun Bank in January from 50 to 49.7 points, which turned out to be worse than market forecasts at 50.5 points.

Support and resistance

Bollinger Bands in D1 chart show stable growth. The price range is narrowing, reflecting ambiguous nature of trading in the short term. MACD is reversing to growth forming a new buy signal (located above the signal line). Stochastic shows similar dynamics, reversing upwards near the level of "20". Current readings of the indicators signal in favor of further growth in the ultra-short term.

One should keep existing long positions and open new ones in the short and/or ultra-short term until the signals from technical indicators clear up.

Resistance levels: 103.90, 104.20, 104.50, 104.75.
Support levels: 103.60, 103.25, 103.00, 102.80.

Trading tips

To open long positions, one can rely on the breakout of 103.90. Take-profit – 104.50. Stop-loss – 103.60. Implementation time: 1-2 days.

A rebound from 103.90 as from resistance followed by a breakdown of 103.60 may become a signal for new sales with the target at 103.00. Stop-loss – 103.90.

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USD/CAD: the dollar is strengthening 29.01.2021

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

Current trend

Today during the Asian session, the USD/CAD pair actively grows, trading near the local highs from December 23, renewed yesterday. Thursday’s macroeconomic statistics from the US put pressure on the positions of the American currency. Q4 2020 GDP fell sharply from 33.4% to 4.0% YoY, which was the economy's response to the continued quarantine restrictions and the slowdown in global trade flows. However, the instrument remained positive.

On Friday, traders are waiting for the publication of US data on the dynamics of personal income and expenses for December. Also, investors will pay attention to the consumer confidence index and the dynamics of pending home sales. Canada will release November GDP statistics and December data on commodity and industrial product price indices today.

Support and resistance

On the daily chart, Bollinger Bands are rising moderately. The price range is actively expanding but not as fast as the “bullish” dynamics develop. The MACD indicator is growing, maintaining a strong buy signal (the histogram is above the signal line), and is trying to consolidate above the zero level. Stochastic maintains a strong upward trend but is approaching its highs, signaling that the dollar is overbought in the ultra-short term.

Resistance levels: 1.2900, 1.2950, 1.3000.
Support levels: 1.2850, 1.2800, 1.2738, 1.2700.

Trading tips

Long positions may be opened after the breakout of 1.2900 with the target at 1.3000. Stop loss – 1.2850. Implementation period: 1–2 days.

Short positions may be opened after the rebound from the level of 1.2900 and the breakdown of 1.2850 with a target at 1.2738. Stop loss – 1.2900.

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XAU/USD: ambiguous dynamics 03.02.2021

Good afternoon, dear forum visitors!

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

Current trend

Gold prices are showing moderate gains during today's Asian session, correcting after a strong decline the day before, which was triggered by some progress in negotiations on a new stimulus package for the US economy. In addition, USD was supported by a decrease in demand for safe assets in response to an improvement in the dynamics of the incidence of coronavirus in the world.

Today, investors will be focused on macroeconomic statistics from the US on the levels of business activity from Markit and ISM in January. In addition, much attention will be paid to the publication of the January ADP Employment Change report, which will precede Friday's data on the US labor market. Forecasts suggest that the ADP report will reflect an increase in private sector employment of 45K new jobs after a decline of 123K in the previous month.

Support and resistance

Bollinger Bands in D1 chart demonstrate flat dynamics. The price range is changing slightly, but remains rather spacious for the current level of activity in the market. MACD is declining keeping a weak sell signal (located below the signal line). Stochastic shows similar dynamics, resuming its decline after a brief period of growth. At the same time, the indicator is located near its lows, reflecting the risks of oversold instrument in the ultra-short term.

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

Resistance levels: 1850.00, 1863.34, 1875.09, 1900.00.
Support levels: 1830.00, 1811.96, 1800.00.

Trading tips

To open long positions, one can rely on the breakout of 1850.00. Take profit — 1875.09–1880.00. Stop-loss – 1835.00. Implementation time: 1-2 days.

The breakdown of 1830.00 may serve as a signal to new sales with the target at 1800.00. Stop-loss – 1850.00.

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USD/JPY: USD returned to active growth 08.02.2021

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

USD is significantly strengthening against JPY during today's trading in Asia, recovering from an equally active decline at the end of last week, when USD retreated from its local highs since October 12, 2020. The instrument adds about 0.24% and is actively testing the level of 105.50 for a breakout. The strong report on the US labor market released last Friday did not help USD to end a confident eight-day rally against JPY with growth, but influenced the balance of power in the short term.

Monday's statistics from Japan are poor. Eco Watchers Survey on Current Situation in January fell from 35.5 to 31.2 points, which, however, turned out to be better than the forecasts of a decrease to 25 points. Eco Watchers Survey Outlook for the same period increased from 37.1 to 39.9 points, but failed to reach the expected values of 44.2 points.

Support and resistance

Bollinger Bands in D1 chart show stable growth. The price range is actively expanding, while remaining too spacious for the current activity level in the market. MACD indicator is growing preserving a stable buy signal (located above the signal line). Stochastic, having reached its highs, showed a decline, responding to the correctional fall of USD at the end of the last trading week.

Resistance levels: 105.60, 105.79, 106.00.
Support levels: 105.33, 105.16, 105.00, 104.75.

Trading tips

To open new long positions, one can rely on the breakout of 105.60. Take-profit – 106.00–106.20. Stop-loss – 105.33. Implementation time: 1-2 days.

The development of correctional trend with the breakdown of 105.16 may become a signal for new sales with target at 104.50. Stop-loss – 105.50.

Use more opportunities of the NPBFX analytical portal: economic indicators

Regular monitoring of global economic indicators plays an important role in trading, because of their strong influence on FOREX market and possibility to provoke significant price fluctuations. For the convenience of traders the "Education" section on the NPBFX portal contains the most popular and significant world economic indices with a detailed description, their possible impact on the economy and exchange rates (GDP, consumer price index, unemployment rate, Nonfarm Payrolls (NFP), etc.).

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.

GBP/USD: correction at the end of the week 12.02.2021

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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 declines against USD during today's Asian session, retreating from record highs updated in the middle of this week. The decrease in the instrument is due to the restoration of the positions of USD, which previously reacted negatively to the speech of the Fed Chair, Jerome Powell, who spoke in favor of maintaining a flexible monetary policy, but pointed out the damage that the pandemic has brought to the American labor market. According to the chairman of the regulator, the restoration of the labor market may take years, while additional measures of support and stimulation may be required.

Today, British investors are awaiting the publication of macroeconomic statistics from the UK. The focus will be on statistics on GDP dynamics for Q4 2020. The forecasts assume that the British economy will slow down from +16% QoQ to +0.5% QoQ.

Support and resistance

Bollinger Bands in D1 chart show moderate growth. The price range expands slightly from above, freeing a path to new local highs for the "bulls". MACD has reversed downwards preserving a buy signal (located above the signal line). Stochastic demonstrates similar dynamics, reversing downwards at its highs.

The appearance of a full-fledged downtrend is possible in the short and/or ultra-short term.

Resistance levels: 1.3864, 1.3900, 1.3963, 1.4000.
Support levels: 1.3760, 1.3700, 1.3650, 1.3600.

Trading tips

To open new short positions, one can rely on the breakdown of 1.3760. Take-profit – 1.3650. Stop-loss – 1.3820. Implementation time: 2-3 days.

A rebound from 1.3760 as from support followed by a breakout of 1.3864 may become a signal for new purchases with the target at 1.4000. Stop-loss – 1.3800.

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GBP/USD: GBP is consolidating 17.02.2021

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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 declines slightly against USD this morning session, trading below the psychological level of 1.3900. The day before, the instrument failed to consolidate at new record highs, and by the end of the afternoon session, it retreated to the opening levels. The reason for the decline was the correctional sentiment in favor of USD, while the fundamental picture is changing slightly.

GBP is feeling strong support from the conclusion of a trade agreement between the UK and the EU, and is also growing with an eye on the imminent lifting of quarantine restrictions by the British authorities in March.

Today, British investors expect the publication of January statistics on consumer inflation and producer price index. It is projected that consumer inflation in the country will show further deceleration, which will put pressure on GBP.

Support and resistance

Bollinger Bands in D1 chart show active growth. The price range expands from above, freeing a path to new local highs for the "bulls". MACD indicator tries to reverse downwards and to form a new sell signal (the histogram has to consolidate below the signal line). Stochastic is showing similar dynamics, retreating from its highs, indicating strongly overbought GBP in the ultra-short term.

The appearance of a full-fledged downtrend is possible in the short and/or ultra-short term.

Resistance levels: 1.3900, 1.3950, 1.4000, 1.4068.
Support levels: 1.3861, 1.3800, 1.3760, 1.3700.

Trading tips

To open new short positions, one can rely on the breakdown of 1.3861. Take-profit – 1.3760. Stop-loss – 1.3920. Implementation time: 2-3 days.

A rebound from 1.3861 as from support followed by a breakout of 1.3900 may become a signal for new purchases with the target at 1.4000. Stop-loss – 1.3845.

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XAU/USD: gold retreats from record lows 22.02.2021

Good afternoon, dear forum visitors!

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

Current trend

Gold prices are showing a slight increase during today's trading, developing a corrective impetus that formed at the end of last week. Last Friday, the instrument renewed record lows since early July 2020, but was able to recover due to corrective sentiment in the market and weak positions in USD, which remained under pressure from weak data on the US labor market.

In turn, the general excitement in the market is putting strong pressure on the position of "safe" gold. High yield on US Treasury bonds provokes further growth in demand for risky assets. The improvement of the epidemiological situation in the USA and in the world also helps. Countries are gradually lifting the quarantine restrictions as vaccination campaigns spread and accelerate.

Support and resistance

Bollinger Bands in D1 chart demonstrate a weak downtrend. The price range is changing slightly, but remains rather spacious for the current level of activity in the market. MACD has reversed upwards preserving a sell signal (located below the signal line). Stochastic is acting more aggressively and, having demonstrated a rebound from the lows, is currently signaling in favor of the development of uptrend in the nearest future.

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

Resistance levels: 1800.00, 1810.29, 1830.00, 1850.00.
Support levels: 1769.59, 1753.57, 1735.13, 1720.00.

Trading tips

To open long positions, one can rely on the breakout of 1800.00. Take-profit – 1830.00. Stop-loss – 1785.00. Implementation time: 1-2 days.

The return of "bearish" trend with the breakdown of 1769.59 may become a signal for new sales with the target at 1735.13. Stop-loss – 1785.00.

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EUR/USD: EUR is under pressure 26.02.2021

Good afternoon, dear forum visitors!

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

Current trend

EUR is trading in both directions against USD during today's Asian session. At the opening of trading, the pair was steadily declining; however, EUR managed to win back half of its losses, receiving support from vulnerable positions in USD.

The pressure on USD intensified yesterday after the US Fed Chair Jerome Powell reiterated the regulator's adherence to a soft monetary policy, noting that there are no talks about its correction towards tightening in the near future at all. In turn, USD was supported on Thursday by strong data from the US on the dynamics of jobless claims, which turned out to be much better than projected.

Today, investors are focused on statistics from the USA on the dynamics of personal income and spending in January. In addition, after the opening of the American session, the market will receive data on the PMI in Chicago and the level of consumer sentiment from the University of Michigan for February.

Support and resistance

In the D1 chart, Bollinger Bands are reversing horizontally. The price range is slightly expanding from above, remaining spacious enough for the current activity level in the market. MACD has reversed downwards preserving a buy signal (located above the signal line). Stochastic, having shown a rebound from its highs develops a downtrend, signaling in favor of the development of a corrective decline in EUR in the ultra-short term.

Resistance levels: 1.2200, 1.2234, 1.2271, 1.2300.
Support levels: 1.2150, 1.2100, 1.2052, 1.2022.

Trading tips

To open short positions, one can rely on the breakdown of 1.2100. Take-profit – 1.2022–1.2000. Stop-loss – 1.2150. Implementation time: 2-3 days.

The return of the "bullish" trend to the market with the breakout of 1.2200 may become a signal for new purchases with the target of 1.2300. Stop-loss – 1.2150.

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NZD/USD: ambiguous trading dynamics 3.03.2021

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

Current trend

NZD is showing ambiguous trading dynamics against USD, hovering around 0.7300. The market is again seeing a rise in demand for safe assets as bond market yields rise, which have been the subject of the fiercest discussions recently. In particular, the ECB noted yesterday that the recent surge in securities yields was largely unfounded, and the regulator will try to adjust its quantitative easing program. Earlier, the RBA announced similar plans.

In turn, the published macroeconomic statistics are increasingly ambiguous. Building Permits in New Zealand in January slowed down from +5.1% MoM to +2.1% MoM, which turned out to be worse than average expectations. ANZ Commodity Price in February corrected from +3.6% MoM to +3.3% MoM. Statistics from China were also disappointing. In February, the Caixin Services PMI slowed from 52 to 51.5 points.

Support and resistance

Bollinger Bands in D1 chart show unsteady growth. The price range is narrowing from below, reflecting the emergence of ambiguous dynamics of trading in the short term. MACD is declining keeping a weak sell signal (located below the signal line). Stochastic, having reached the level of "20", reversed into an upward plane, indicating the prospects for the development of corrective growth in the nearest future.

Resistance levels: 0.7305, 0.7350, 0.7393, 0.7435.
Support levels: 0.7250, 0.7222, 0.7200, 0.7150.

Trading tips

To open long positions, one can rely on the breakout of 0.7305. Take-profit – 0.7393. Stop-loss – 0.7250. Implementation time: 2-3 days.

A rebound from 0.7305 as from resistance, followed by a breakdown of 0.7250 may become a signal for new sales with the target at 0.7150. Stop-loss – 0.7305.

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.

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