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USD/CHF: correctional growth 08.01.2021

Good afternoon, dear forum visitors!

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

Current trend

USD is showing ambiguous performance against CHF in today's Asian session, hitting local highs since December 29. USD received a strong momentum for correctional growth the day before after the publication of positive macroeconomic statistics from the US. At the same time, investors are noticeably cautious on Friday ahead of the publication of the December report on the US labor market. The forecasts are quite pessimistic. In particular, it is assumed that the number of Nonfarm Payrolls in December will grow by only 71K after increasing by 245K in the previous month. The Unemployment Rate is expected to rise to 6.8%.

Switzerland is also to publish data on the Unemployment Rate during the day. Forecasts suggest that in December the indicator will rise to 3.5% MoM from 3.4% MoM in the previous month.

Support and resistance

In the D1 chart, Bollinger Bands are reversing horizontally. The price range has consolidated, but remains rather spacious for the current level of activity in the market. MACD indicator is growing preserving a rather stable buy signal (located above the signal line). Stochastic is showing almost vertical growth, signaling the emergence of strong "bullish" sentiment in the ultra-short term.

Technical indicators do not contradict the development of the uptrend in the short and/or ultra-short term.

Resistance levels: 0.8880, 0.8920, 0.8960, 0.9000.
Support levels: 0.8850, 0.8821, 0.8800, 0.8783.

Trading tips

To open long positions, one can rely on the breakout of 0.8880. Take-profit – 0.8920. Stop-loss – 0.8860. Implementation time: 1-2 days.

The return of "bearish" trend with the breakdown of 0.8850 may become a signal for new sales with the target at 0.8800. Stop-loss – 0.8880.

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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.

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USD/JPY: active growth 11.01.2021

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

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.).

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.

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USD/JPY: downward reversal 13.01.2021

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

The USD/JPY pair has reversed and is declining, trading at 103.62.

JPY is actively winning back losses against USD. However, there are factors that are holding back the growth of JPY. Utilities across Japan continue to grapple with the aftermath of heavy snowfall, which has already killed 8 people and injured 270. On the contrary, macroeconomic statistics had a positive effect on the dynamics of the instrument. The Bank of Japan Adjusted Current Account rose to JPY 2.34T from JPY 1.98T in the previous period.

USD, in turn, reversed and began to decline again, breaking down the key level in the index of 90 points. Political instability in the USA has a negative impact on the dollar. Yesterday, the US House of Representatives approved a resolution calling on Vice President Michael Pence to apply the 25th Amendment to the Constitution and remove Donald Trump from power. 223 congressmen voted for the initiative, and 205 voted against.

Support and resistance

On the local chart of the asset, the price, having reached the resistance line of the global descending channel, reversed and began to decline. Technical indicators are still in the state of selling, but are about to reverse. The range of the Alligator indicator EMAs fluctuations began to narrow down, and the histogram of the AO oscillator forms descending bars.

Resistance levels: 103.86, 104.32.
Support levels: 103.40, 102.60.

Trading tips

If the asset continues to decline and the price consolidates below the local support at 103.40, short positions can be opened with the target at 102.60. Stop-loss – 103.80. Implementation time: 7 days and more.

If the asset continues correctional growth and the price consolidates above the resistance level of 103.86, long positions will be relevant with target at 104.32. Stop-loss – 103.40.

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.

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USD/CHF: upward correction 15.01.2021

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 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.

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.

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USD/CAD: correctional dynamics develops 18.01.2021

Good afternoon, dear forum visitors!

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

Current trend

USD is growing against CAD today, updating local highs since January 12. Noticeable support for the instrument is provided by the growth of negative sentiments regarding the worsening epidemiological situation in the world. Despite the start of vaccination campaigns, many countries are still forced to maintain and tighten restrictive measures, which negatively affects the pace of global economic recovery. Alarming data comes from China, which has already identified the maximum number of COVID-19 infected in the past 10 months.

USD, in turn, is receiving support from the nearly USD 2T new stimulus plan for the American economy, published last week. Having parity in the Senate, Democrats can easily pass part of the amendments aimed at supporting the population. However, measures to fund vaccination programs will require Democrats to enlist the support of Republicans, which could pose some difficulties given the ongoing political tensions in the country.

Support and resistance

In the D1 chart, Bollinger Bands are reversing horizontally. The price range is narrowing, reflecting the emergence of ambiguous dynamics of trading in the short term. MACD indicator is growing preserving a stable buy signal (located above the signal line). Stochastic, having rebounded from the level of "20", maintains a confident uptrend, signaling in favor of the development of "bullish" sentiments in the ultra-short term.

Current showings of the indicators do not contradict the further development of the uptrend in the short term.

Resistance levels: 1.2800, 1.2850, 1.2900, 1.2950.
Support levels: 1.2766, 1.2738, 1.2700, 1.2664.

Trading tips

To open long positions, one can rely on the breakout of 1.2800. Take-profit – 1.2850. Stop-loss – 1.2766. Implementation time: 1-2 days.

A rebound from 1.2800 as from resistance, followed by a breakdown of 1.2766 may become a signal for new sales with the target at 1.2700. Stop-loss – 1.2800.

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

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

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

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

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XAU/USD: gold is in demand again 20.01.2021

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 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.

Use more opportunities of the NPBFX analytical portal: trading signals for commodities

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GBP/USD: consolidating at record highs 22.01.2021

Good afternoon, dear forum visitors!

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

Current trend

GBP is trading down against USD during today's morning session, correcting slightly after yesterday's renewing record highs since May 2018. The decline in the instrument is largely due to technical factors, while fundamentally the picture changes only slightly.

Moderate support for USD is provided by rather positive macroeconomic statistics from the US, which entered the market on Thursday. The number of initial jobless claims for the week ending January 15 fell from 926K to 900K, while investors expected a decrease in the figure to 910K. Continuing Jobless Claims were revised down from 5.181M to 5.054M with the forecast for growth to 5.4M.

In turn, GBP is under slight pressure on Friday after the publication of GfK Consumer Confidence. In January, the index fell from –26 to –28 points, while the market expected a decline to –29 points.

Support and resistance

The Bollinger Bands in D1 chart show moderate growth. The price range is expanding but it fails to conform to the development of "bullish" sentiments at the moment. MACD indicator is growing preserving a 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.

Resistance levels: 1.3760, 1.3834, 1.3900.
Support levels: 1.3700, 1.3650, 1.3600, 1.3552.

Trading tips

To open long positions, one can rely on the breakout of 1.3760. Take-profit – 1.3900. Stop-loss – 1.3680. Implementation time: 2-3 days.

A rebound from 1.3760 as from resistance followed by a breakdown of 1.3700 may become a signal for new sales with the target at 1.3600. Stop-loss – 1.3760.

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.

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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.

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/JPY and trade efficiently with NPBFX.

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584 (edited by Antony_NPBFX 2021-01-27 09:01:27)

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USD/CHF: USD remains under pressure 27.01.2021

Good afternoon, dear forum visitors!

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

Current trend

USD is showing flat trading dynamics against CHF during today's Asian session, consolidating near 0.8860. American investors are awaiting the publication of the final minutes of the two-day Fed meeting today, but for now they are taking a lead from the usual signals. After Joe Biden's statements about a possible adjustment of his stimulus plan for the American economy, markets fear that some of the measures will not be implemented in the near future.

In addition to the Fed meeting, traders are focused on statistics from the United States on the dynamics of orders for durable goods in December. Analysts expect that the indicator will remain at about the same level as before, so it will not have a noticeable impact on the dynamics of USD. Switzerland will publish ZEW Survey Expectations for January today. The forecasts are rather disappointing: the indicator is expected to fall from 46.8 to 37.9 points.

Support and resistance

In the D1 chart, Bollinger Bands are reversing horizontally. The price range is narrowing, reflecting appearance of multi-directional dynamics in the short term. MACD histogram is slightly strengthening keeping a weak buy signal (located slightly above the signal line). Stochastic is showing slightly more confident dynamics, signaling "bullish" potential in the ultra-short term.

One should wait for development of the situation at the market, as the current indicators remain uninformative.

Resistance levels: 0.8880, 0.8900, 0.8924, 0.8960.
Support levels: 0.8850, 0.8837, 0.8821, 0.8800.

Trading tips

To open new short positions, one can rely on the breakdown of 0.8850. Take-profit – 0.8821–0.8810. Stop-loss – 0.8870. Implementation time: 2-3 days.

The return of the "bullish" trend to the market with the breakout of 0.8880 may become a signal for new purchases with the target of 0.8924. Stop-loss – 0.8860.

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.

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USD/CAD: the dollar is strengthening 29.01.2021

Good afternoon, dear forum visitors!

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

Current trend

Today during the Asian session, the USD/CAD pair 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.

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

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

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

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

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USD/JPY: correction from local highs 01.02.2021

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 correcting against JPY during today's morning session, retreating from local highs since November 16, which the instrument managed to update at the end of the last trading week. The reason for the strengthening of "bullish" sentiment was technical factors, while the fundamental background in the market changed little. Moreover, JPY gained support on Friday after the publication of relatively confident macroeconomic statistics on the Japanese labor market, which showed greater resilience than experts expected.

In turn, data from the US also turned out to be better than market forecasts. Personal Income in December 2020 increased by 0.6% MoM after declining by 1.7% MoM in the previous month. Experts expected an increase of 0.1% MoM. The rate of decline in Personal Spending in December slowed down from –0.7% MoM to –0.2% MoM, which turned out to be two times better than the forecasts. The Chicago PMI in January rose sharply from 58.7 to 63.8 points against the forecast of a decline to 58.5 points.

Support and resistance

Bollinger Bands in D1 chart show moderate growth. The price range is expanding but it fails to conform to the development of "bullish" sentiments at the moment. MACD indicator is growing preserving a stable buy signal (located above the signal line). Stochastic, having reached the level of 80, reversed into horizontal plane, indicating overbought USD in the ultra-short term.

Resistance levels: 104.75, 105.00, 105.33, 105.60.
Support levels: 104.50, 104.20, 103.90, 103.60.

Trading tips

To open new short positions, one can rely on the breakdown of 104.50. Take-profit – 103.90. Stop-loss – 104.75. Implementation time: 1-2 days.

The return of the "bullish" trend with the breakout of 105.00 may become a signal for new purchases with the target of 105.60. Stop-loss – 104.75.

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/JPY and trade efficiently with NPBFX.

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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.

Use more opportunities of the NPBFX analytical portal: trading signals for commodities

How can a trader determine if it’s worth buying or selling XAU/USD now or better waiting for a more favorable period? Use trading signals for commodities from the top 10 technical indicators on the NPBFX portal and make the right decisions! All registered users have free and unlimited access to the minutely updated trading signals (MA10, BBands, Ichimoku, Stochastic, ZigZag, etc.) for Gold, Silver, Brent and WTI Crude oil.

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

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

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EUR/USD: updating local lows 05.02.2021

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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 showing ambiguous trend during today's Asian session, consolidating near 1.1950 and new local lows since December 1. EUR dropped significantly against USD at the end of trading on Thursday, responding to the strengthening of USD across almost the entire spectrum of the market. USD, in turn, was supported by strong macroeconomic statistics, as well as increased prospects for a faster recovery of the American economy from the crisis.

Only the data on retail sales dynamics in the eurozone provided insignificant support to EUR yesterday. In December, sales volumes increased by 2% MoM after a sharp decline of 5.7% MoM in the previous month. Analysts had expected increase by 1.6% MoM only. On an annualized basis, sales rose by 0.6% YoY, accelerating after a 2.2% YoY decline in the previous month. The market forecasts expected the indicator to grow half as much.

Support and resistance

Bollinger Bands in D1 chart demonstrate a moderate decrease. The price range is expanding; however, it fails to catch the surge of the "bearish" sentiment at the moment. MACD is going down preserving a stable sell signal (located below the signal line). Stochastic keeps a confident downtrend but is located near its lows, which indicates the risks of oversold EUR in the ultra-short term.

Existing short positions should be kept in the short and/or ultra-short term until the signals from technical indicators clear up.

Resistance levels: 1.2000, 1.2052, 1.2087, 1.2120.
Support levels: 1.1930, 1.1892, 1.1850, 1.1800.

Trading tips

To open new short positions, one can rely on the breakdown of 1.1930. Take-profit – 1.1850. Stop-loss – 1.1980. Implementation time: 1-2 days.

A rebound from 1.1930 as from support followed by a breakout of 1.2000 may become a signal for new purchases with the targets at 1.2087–1.2120. Stop-loss – 1.1940.

Use more opportunities of the NPBFX analytical portal: glossary

Beginning traders certainly face a lot of specialized concepts and lexicon on FOREX, which are often not fully been understood. Swap, tick, hedge, margin calls are often unfamiliar to beginning traders. But the lack of knowledge of these fundamentals make a competent market vision impossible. So glossary on the NPBFX analytical portal could be an excellent helper in this case, which contains all the main definitions with explanations in a compact and accessible form. All concepts are arranged in alphabetical order, so that you can easily and quickly find and explore a new concept for yourself.

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

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

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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.

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USD/JPY: dollar remains under pressure 10.02.2021

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

Today during the Asian session, the USD/JPY pair is slightly strengthening, weakly compensating for the confident decline yesterday, caused by the negative sentiment of traders against the dollar.

American macroeconomic statistics are increasingly worse than experts' expectations. It shows that the US economy will take more time to recover than it was estimated earlier. It's worth noting that the US presidential administration has yet implemented its new $1.9 trillion stimulus program. Despite criticism of the new measures and opposition from the Republican Party, the aid package could give the US economy a strong upward momentum.

The data from Japan released on Wednesday did not have a noticeable impact on the instrument's dynamics. Thus, the producer price index of goods for January slowed down from +0.5% to +0.4% MoM, which coincided with market expectations. January index of domestic prices for corporate goods increased slightly from –2% to –1.6% YoY.

Support and resistance

Bollinger bands are actively growing on the daily chart. The price range is rapidly narrowing in response to a sharp change in trading direction in the short term. The MACD indicator reversed downwards and formed a new strong sell signal (the histogram is below the signal line). Stochastic shows a similar picture but is rapidly approaching its lows, indicating that USD may become oversold in the ultra-short term.

Resistance levels: 104.75, 105.00, 105.16, 105.33.
Support levels: 104.50, 104.20, 103.90, 103.60.

Trading tips

Long positions may be opened after the rebound from 104.50 and the breakout of 104.75 with the target at 105.16. Stop loss – 104.50. Implementation period: 2–3 days.

Short positions may be opened after the breakdown of 104.50 with the target at 103.90. Stop loss – 104.85.

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.

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

Good afternoon, dear forum visitors!

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

Current trend

GBP 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.

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.

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USD/JPY: USD is strengthening 15.02.2021

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 has shown strong gains against JPY during today's Asian session, once again trying to consolidate above 105.00.

The focus is on macroeconomic statistics from Japan, which was encouraging for Japanese investors, but still did not lead to a change in the trading direction in the short term. Annual data on Japan's GDP reflected the country's economic growth in Q4 2020 by 12.7% YoY after increasing by 22.7% YoY in the previous period. Experts expected a slowdown in GDP to +9.5% YoY. In quarterly terms, the economy slowed down from +5.3% QoQ to +3% QoQ, which was also better than market expectations at +2.3% QoQ. Industrial production dynamics slightly improved from –3.2% YoY to –2.6% YoY, with market neutral forecasts.

Support and resistance

Bollinger Bands in D1 chart show stable growth. The price range is narrowing, reflecting the ambiguous nature of trading in the short/middle term. MACD indicator reverses to growth while forming a new buy signal (the histogram is about to consolidate above the signal line). Stochastic is actively recovering from its lows, indicating the prospects for the development of corrective growth of the instrument in the ultra-short term.

Current showings of the indicators do not contradict the development of the uptrend in the short term.

Resistance levels: 105.17, 105.33, 105.60, 105.79.
Support levels: 104.75, 104.50, 104.20, 103.90.

Trading tips

To open long positions, one can rely on the breakout of 105.17. Take-profit – 105.60–105.79. Stop-loss – 104.85. Implementation time: 1-2 days.

A rebound from 105.17 as from resistance, followed by a breakdown of 104.75 may become a signal for new sales with the target at 104.20. Stop-loss – 105.00.

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.

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GBP/USD: GBP is consolidating 17.02.2021

Good afternoon, dear forum visitors!

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

Current trend

GBP 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.

Use more opportunities of the NPBFX analytical portal: economic calendar

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

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

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

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EUR/USD: ambiguous trading 19.02.2021

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 showing ambiguous trading during today's Asian session, consolidating near 1.2100 after the instrument retraced the day before. The reason for yesterday's resumption of "bullish" trend was the disappointing data from the US. Initial Jobless Claims for the week ending February 12 again showed an increase from 848K to 861K, while analysts expected their reduction to 765K. Continuing Jobless Claims for the week ending February 5 fell from 4.558M to 4.494M, which fell short of the most optimistic forecasts of 4.413M. Thus, investors are again convinced that it is still somewhat premature to talk about the beginning of a confident recovery of the American economy. As Jerome Powell said, it will take years for the labor market to return to its previous levels.

The focus of European investors today is statistics on business activity in the manufacturing and services sectors in Germany and the eurozone for February.

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 has reversed towards growth without forming a buy signal (located below the signal line). Stochastic shows similar dynamics, reversing upwards near the level of "20". Current readings of the indicator signal in favor of a corrective growth in the ultra-short term.

Resistance levels: 1.2100, 1.2150, 1.2200.
Support levels: 1.2052, 1.2022, 1.2000, 1.1951.

Trading tips

To open long positions, one can rely on a confident breakout of 1.2100. Take-profit – 1.2150. Stop-loss – 1.2070. Implementation time: 1-2 days.

A rebound from 1.2100 as from resistance followed by a breakdown of 1.2052 may become a signal for new sales with the target at 1.2000. Stop-loss – 1.2080.

Use more opportunities of the NPBFX analytical portal: glossary

Beginning traders certainly face a lot of specialized concepts and lexicon on FOREX, which are often not fully been understood. Swap, tick, hedge, margin calls are often unfamiliar to beginning traders. But the lack of knowledge of these fundamentals make a competent market vision impossible. So glossary on the NPBFX analytical portal could be an excellent helper in this case, which contains all the main definitions with explanations in a compact and accessible form. All concepts are arranged in alphabetical order, so that you can easily and quickly find and explore a new concept for yourself.

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

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

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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.

Use more opportunities of the NPBFX analytical portal: trading signals for commodities

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

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GBP/USD: updating record highs 24.02.2021

Good afternoon, dear forum visitors!

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

Current trend

GBP maintains strong upside momentum against USD in the short term, hitting record highs since April 2018 during today's Asian session.

Investors reacted very optimistically to the televised address of British Prime Minister Boris Johnson, who announced the lifting of quarantine in the country closer to July. Meanwhile, the UK is steadily increasing the pace of vaccination, currently occupying the third place in the world. To date, more than a quarter of the total population has been vaccinated, and in the near future, the rate of vaccination is likely to only increase.

Today, investors are focused on the Monetary Policy Report Hearings, which is an important factor for the Bank of England's decision to further stimulate the national economy.

Support and resistance

Bollinger Bands in D1 chart show stable growth. The price range is expanding from above, but it fails to catch the surge of "bullish" sentiment at the moment. MACD indicator is growing, preserving a stable buy signal (located above the signal line). Stochastic, having reached its highs, reversed into the horizontal plane, indicating strongly overbought GBP in the ultra-short term.

A full-fledged downward correction for the instrument is possible towards the end of the current trading week.

Resistance levels: 1.4200, 1.4275, 1.4375.
Support levels: 1.4150, 1.4100, 1.4050, 1.4000.

Trading tips

To open corrective sales, one can rely on the instrument's rebound from the current resistance levels, followed by a breakdown of 1.4100. Take-profit – 1.4000. Stop-loss – 1.4160. Implementation time: 2-3 days.

New long positions may be opened after breakout of 1.4200. Take-profit – 1.4350-1.4375. Stop-loss – 1.4130.

Use more opportunities of the NPBFX analytical portal: economic calendar

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

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

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

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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.

Use more opportunities of the NPBFX analytical portal: glossary

Beginning traders certainly face a lot of specialized concepts and lexicon on FOREX, which are often not fully been understood. Swap, tick, hedge, margin calls are often unfamiliar to beginning traders. But the lack of knowledge of these fundamentals make a competent market vision impossible. So glossary on the NPBFX analytical portal could be an excellent helper in this case, which contains all the main definitions with explanations in a compact and accessible form. All concepts are arranged in alphabetical order, so that you can easily and quickly find and explore a new concept for yourself.

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

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

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USD/JPY: consolidation pending new drivers 1.03.2021

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 flat against JPY in Asian trading today, consolidating near its record highs since August 2020. USD received a powerful impetus to growth at the end of the last trading week, as investors were actively selling risky assets amid correction in the bond market. The instrument was additionally supported by good macroeconomic statistics from the USA, which was quite close to its forecasts.

Today, JPY is in demand after the publication of data from Japan. Jibun Bank Manufacturing PMI in February rose from 50.6 to 51.4 points, which turned out to be better than market forecasts. Tomorrow, Japanese investors are expecting the release of the January data on the labor market, in particular, the unemployment rate.

Support and resistance

Bollinger Bands in D1 chart show stable growth. The price range is expanding from above, but it fails to catch the surge of "bullish" sentiment at the moment. MACD indicator is growing preserving a moderate buy signal (located above the signal line). Stochastic, having approached its highs is reversing into a horizontal plane, indicating risks of overbought USD in the ultra-short term.

Existing long positions should be kept in the short and/or ultra-short term until the signals from technical indicators clear up.

Resistance levels: 106.69, 107.00, 107.42, 107.78.
Support levels: 106.25, 106.00, 105.75, 105.40.

Trading tips

To open long positions, one can rely on a confident breakout of 106.69. Take-profit – 107.78. Stop-loss – 106.00. Implementation time: 2-3 days.

A rebound from 106.69 as from resistance, followed by a breakdown of 106.25 may become a signal for new sales with the target at 105.40. Stop-loss – 106.69.

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.

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NZD/USD: ambiguous trading dynamics 3.03.2021

Good afternoon, dear forum visitors!

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

Current trend

NZD is showing ambiguous 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.

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.

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USD/CHF: trading at record highs 5.03.2021

Good afternoon, dear forum visitors!

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

Current trend

USD is marginally higher against CHF during today's Asian session, consolidating near record highs since July 2020, updated the day before. Investors continue to show high interest in "safe" assets, responding to the controversial situation in the bond market and fearing the introduction of new measures from leading financial regulators.

In particular, the attention of market participants on Thursday was focused on the speech of the US Fed Chair, Jerome Powell. The Chairman of the American regulator made a very optimistic speech, practically without touching upon the urgent topic of growth in the yield of US Treasury bonds. The official noted that the early opening of the economies will lead to a noticeable increase in inflation, which serves as one of the main guidelines for maintaining minimum interest rates. Immediately after Powell's speech, bond yields rallied again, pushing the major Wall Street indices down.

Support and resistance

Bollinger Bands in D1 chart show stable growth. The price range is expanding but it fails to catch the development of "bullish" trend at the moment. MACD indicator is growing preserving a stable buy signal (located above the signal line). Stochastic retains upward direction, but is located near its highs, which indicates risks of overbought USD in the ultra-short term.

Existing long positions should be kept in the short and/or ultra-short term until the signals from technical indicators clear up.

Resistance levels: 0.9300, 0.9350, 0.9400.
Support levels: 0.9250, 0.9200, 0.9163, 0.9126.

Trading tips

To open long positions, one can rely on the breakout of 0.9300. Take-profit – 0.9400. Stop-loss – 0.9250. Implementation time: 1-2 days.

A rebound from 0.9300 as from resistance followed by a breakdown of 0.9250 may become a signal for new sales with the targets at 0.9126–0.9100. Stop-loss – 0.9320.

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.

NPBFX - Best ECN/STP Broker 2021 Forex Awards, Most Intelligent Fintech 2020 APAC Bus. Headlines