Brent Crude Oil: OPEC+ decision supports oil quotes 03.09.2021

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

Current trend

Benchmark Brent Crude Oil prices grow, trading around $72.77 a barrel.

Market participants positively assess the efforts of OPEC+ to gradually return the oil production levels to the values of the end of 2019. However, at the moment, this figure is still below even the established quota. August data increased by 290K barrels against 400K, determined by the cartel members at the July meeting. Representatives of the organization noted that this was because some countries were still unable to maintain high energy production levels due to reduced production capacity and technical failures. First of all, they were talking about Nigeria and Angola.

The recent OPEC report also demonstrated commitment to the current agreements, according to which the volume of oil production began to rise smoothly. In Algeria, the figure rose to 0.91M barrels per day, in Iraq – to 2.49M, in Kuwait – to 2.43M, in Libya – to 1.17M, in Saudi Arabia – to 9.40M. In the United Arab Emirates, production rose to 2.72M barrels.

Support and resistance

Globally, the asset moves within the corrective downward channel. Technical indicators keep a buy signal: Indicator Alligator’s EMA fluctuations range actively expands, and the histogram of the AO oscillator grows in the buy zone.

Resistance levels: 75.10, 77.47.
Support levels: 70.72, 66.96.

Trading tips

After global growth or consolidation above the local resistance level of 75.10, buy positions with the target at 77.47 are relevant. Stop loss is 74.00. Implementation period: 7 days or more.

After reversal and decline or consolidation below the local support of 70.72, sell positions with a target at 66.96 are relevant. Stop loss is 72.00.

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GBP/USD: GBP is developing "bearish" momentum 08.09.2021

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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 is slightly declining against USD during today's Asian session, developing a strong "bearish" momentum formed the day before. In addition to a number of technical factors, as well as growing corrective sentiment in favor of USD, GBP/USD was pressured on Tuesday by Boris Johnson's intentions to take an unpopular measure and raise taxes for a number of taxpayers in order to overcome the current health system crisis in the country. Johnson's proposal has already been criticized by his party members, but the COVID-19 epidemic has exposed significant healthcare system problems not only in the UK.

Meanwhile, yesterday's macroeconomic statistics from the UK provided minor support to GBP. Halifax House Prices index in August accelerated from +0.4% to +0.7% MoM. On an annualized basis, however, the indicator slowed down from +7.6% YoY/3m to +7.1% YoY/3m, which turned out to be better than market forecasts at +5.5% YoY/3m.

Support and resistance

Bollinger Bands in D1 chart show active growth. The price range is narrowing rapidly, reflecting a sharp change of trend in the ultra-short term. MACD reversed downwards having formed a weak sell signal (located below the signal line). Stochastic shows a more confident and protracted decline and is currently rapidly approaching its lows, indicating the risks of oversold GBP in the ultra-short term.

Resistance levels: 1.3800, 1.3857, 1.3900, 1.3960.
Support levels: 1.3750, 1.3700, 1.3650, 1.3600.

Trading tips

To open new short positions, one can rely on the breakdown of 1.3750. Take-profit – 1.3650. Stop-loss – 1.3800. Implementation time: 1-2 days.

A rebound from 1.3750 as from support followed by a breakout of 1.3800 may become a signal for new purchases with the target at 1.3900. Stop-loss – 1.3750.

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AUD/USD: AUD remains under pressure 13.09.2021

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

Current trend

AUD is trading near 0.7350 in the Asian session.

Market activity at the beginning of the week remains moderate, as the macroeconomic calendar is almost empty. Traders continue to discuss the prospects for reducing existing incentives from the world's leading financial regulators. It is assumed that this week the European Central Bank (ECB) may announce a reduction in the volume of the quantitative easing program, which will put additional pressure on the US Fed, which is still inclined to take a wait-and-see attitude.

The positive influence on the market sentiment had a telephone conversation between the US and Chinese presidents last Friday. Joe Biden and Xi Jinping spoke in favor of preventing competition from escalating into new trade conflicts, which strengthened the position of the Asia-Pacific region currencies.

Noteworthy statistics from Australia will appear on the market only tomorrow, when the speech of the Governor of the Reserve Bank of Australia (RBA) Philip Lowe, and the Assistant Governor (Economic) Luci Ellis.

Support and resistance

On the D1 chart, Bollinger Bands are gradually reversing horizontally. The price range is narrowing from below, reflecting the emergence of ambiguous dynamics of trading in the short term. MACD is going down, keeping a fairly stable sell signal (located below the signal line). The indicator is about to test the zero level for a breakdown. Stochastic retains a steady downtrend but is located in close proximity to its lows, which indicates the risks of oversold instrument in the ultra-short term.

Resistance levels: 0.7370, 0.7414, 0.7443, 0.7475.
Support levels: 0.7328, 0.7300, 0.7268, 0.7221.

Trading tips

To open new short positions, one can rely on the breakdown of 0.7328. Take-profit – 0.7268. Stop-loss – 0.7360. Implementation time: 1-2 days.

A rebound from 0.7328 as from support followed by a breakout of 0.7370 may become a signal for new purchases with the target at 0.7443. Stop-loss – 0.7328.

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

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

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

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Brent Crude Oil: prices are holding near $75 per barrel 17.09.2021

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

Current trend

Brent Crude Oil prices are showing ambiguous dynamics, trading near $75 per barrel.

Yesterday, the instrument moderately declined in response to USD growth and the reduction of risks related to the slow recovery of oil production in the Gulf of Mexico. Utilities were impacted by Hurricane Nicholas, which hit Texas earlier this week.

The quotes were supported this week by the data on the dynamics of oil reserves in American warehouses. So, for the week of September 10, the US Department of Energy reported a sharp decrease in the indicator by 6.422M barrels after a decrease by 1.529M barrels over the previous period. Also, the asset is responding positively to the moderate recovery in demand. International reports show that global energy consumption is approaching 100M barrels per day, the highest since 2019.

Support and resistance

Bollinger bands grow steadily on the daily chart. The price range expands but not as fast as the “bullish” activity develops. MACD grows, maintaining a strong buy signal (the histogram is above the signal line). Stochastic approached its highs, and reversed into a horizontal plane, signaling that the instrument is strongly overbought in the ultra-short term.

A correctional decline may develop in the nearest time intervals.

Resistance levels: 75.63, 77.00, 78.28.
Support levels: 74.00, 73.00, 71.80, 71.00.

Trading tips

Long positions may be opened after the breakout of 75.63 with the target at 78.28. Stop loss – 74.00. Implementation period: 1–2 days.

Short positions may be opened after the rebound from 75.63 and the breakdown of 74.00 with the target at 71.80. Stop loss – 75.63.

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

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Brent Crude Oil: quotes are developing a "bullish" momentum 23.09.2021

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

Current trend

Prices for Brent Crude Oil rose moderately during the morning session on September 22, developing the uncertain "bullish" momentum that had formed yesterday.

Market activity remains subdued, as traders are in no hurry to open new positions ahead of the publication of the long-awaited minutes of the US Federal Reserve meeting. The American regulator is expected to start timing the reduction of the quantitative easing (QE) program and renewed forecasts for economic growth soon.

The American Petroleum Institute (API) report on oil reserves, published on Tuesday, moderately supported the asset. For the week of September 17, stocks in US warehouses fell by 6.108M barrels after falling by 5.437M barrels in the previous period. This reduction was the most significant since July this year.

Support and resistance

On the daily chart, Bollinger bands grow moderately. The price range expands while remaining spacious enough for the current level of market activity. MACD indicator smoothly reverses into an ascending plane, maintaining the previous sell signal (the histogram is below the signal line). Stochastic shows a more confident decline, being approximately in the center of its working area.

To open new trading positions, it is better to wait until the signals from technical indicators are clarified.

Resistance levels: 75.63, 77.00, 78.28, 79.26.
Support levels: 74.00, 73.00, 71.80, 71.00.

Trading tips

Long positions may be opened after the breakout of 75.63 with the target at 78.28. Stop loss 74.50. Implementation period: 2–3 days.

Short positions may be opened after the rebound from 75.63 and the breakdown of 74.00 with the target at 71.80. Stop loss — 75.63.

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

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GBP/USD: Bank of England's rhetoric became GBP growth driver 27.09.2021

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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 is trading ambiguously against USD during today's morning session, consolidating near 1.3720.

Last Friday, GBP showed a confident uptrend, having won back part of its losses in the week, which was caused by the growth of corrective sentiment on USD. Also, noticeable support for GBP was provided by the results of the meeting of the Bank of England, since two members of the regulator's board spoke in favor of tightening monetary policy by reducing the volume of the quantitative easing program.

In turn, the macroeconomic background on Friday changed insignificantly. Gfk Consumer Confidence index in the UK in September fell from –8 to –13 points, while analysts expected the situation to improve and the indicator to rise to –7 points.

Today, investors are focused on macroeconomic statistics from the US on the dynamics of Durable Goods Orders for August. Market experts are counting on a noticeable increase in indicators, which may provide additional support to USD.

Support and resistance

Bollinger Bands in D1 chart demonstrate a moderate decrease. The price range is slightly changing, being spacious enough for the current activity level in the market. MACD is trying to reverse to growth forming a new buy signal (located above the signal line). Stochastic is showing similar dynamics being located in the middle of its area.

The development of an upward corrective trend is possible in the near future.

Resistance levels: 1.3750, 1.3800, 1.3857, 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 1.3750. Take-profit – 1.3857. Stop-loss – 1.3700. Implementation time: 2-3 days.

A rebound from 1.3750 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 – 1.3750.

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 GBP/USD and trade efficiently with NPBFX.

EUR/USD: EUR is preparing to end the week with a decline 01.10.2021 

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 demonstrates flat trading dynamics against USD during the Asian session, consolidating near new local lows since July 23, 2020, updated the day before. The instrument is trading near 1.1575, trying to go into corrective growth after a whole week of failures. One of the factors that would contribute to the recovery of EUR may be statistics from the eurozone on inflation. Analysts expect the September consumer price data to show moderate growth from 3% to 3.3%, raising hopes for possible monetary tightening by the European Central Bank (ECB) in the foreseeable future.

The data released yesterday in Germany turned out to be ambiguous. The Unemployment Rate in the country remained at 5.5% in September, while the Unemployment Change fell by 30K (in August, the decline was 53K). At the same time, the Consumer Price Index showed zero dynamics in September, while the annualized Harmonized Index of Consumer Prices accelerated from +3.4% to +4.1% YoY.

Support and resistance

Bollinger Bands on the daily chart are showing a steady decline. The price range is expanding, but fails to keep pace with the development of the “bearish” trend at the moment. The MACD indicator is going down, maintaining a strong sell signal (the histogram is below the signal line). Stochastic, having reached its lows, reversed into a horizontal plane, indicating the risks of EUR being oversold in the ultra-short term.

Resistance levels: 1.1600, 1.1650, 1.1700, 1.1754.
Support levels: 1.1546, 1.1500, 1.1460, 1.1400.

Trading tips

To open long positions, one can rely on the rebound from 1.1546 as from support, followed by a breakout of 1.1600. Take-profit – 1.1700. Stop-loss – 1.1546. Implementation time: 2-3 days.

A confident breakdown of 1.1546 may become a signal for new sales with the target at 1.1460. Stop-loss – 1.1600.

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EUR/USD: EUR returns to local lows 06.10.2021

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 a moderate decline against USD during the Asian session, returning to local lows and testing the level of 1.1600 for a breakdown.

Investors are again actively buying USD after an attempt at correction at the end of last week, when trading participants preferred to close a significant part of long positions in USD, fixing profits. USD, as before, is supported by expectations of the imminent start of tightening of monetary policy by the US Fed, while the European Central Bank (ECB) is still taking a wait-and-see attitude. The growth of fears about the prospects for further recovery of the world economy is also having an effect.

Macroeconomic statistics from Europe published yesterday turned out to be mixed. Markit Services PMI in the eurozone in September grew insignificantly from 56.3 to 56.4 points with a neutral forecast. The Composite PMI also recorded the minimum increase from 56.1 to 56.2 points over the same period.

Support and resistance

Bollinger Bands in D1 chart demonstrate a stable decrease. The price range is almost unchanged, but it remains rather spacious for the current level of activity in the market. MACD returns towards declining preserving a buy signal (located above the signal line). Stochastic is showing more confident growth and has not yet responded to the resumption of the decline in the instrument over the past few days.

Resistance levels: 1.1600, 1.1650, 1.1700, 1.1754.
Support levels: 1.1546, 1.1500, 1.1460, 1.1422.

Trading tips

To open new short positions, one can rely on the breakdown of 1.1546. Take-profit – 1.1460. Stop-loss – 1.1600. Implementation time: 1-2 days.

A rebound from 1.1546 as from support followed by a breakout of 1.1600 may become a signal for new purchases with the target at 1.1700. Stop-loss – 1.1546.

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USD/JPY: US dollar reaches record highs 11.10.2021 

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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

Today during the Asian session, the USD/JPY pair grows steadily, renewing record highs since December 2018.

Investors are focused on the US labor market report for September, published last Friday. The ambiguous statistics did not greatly affect the dynamics of the asset, in which the dollar is still the clear leader. The data reflected positive wage growth and overall unemployment results but was disappointing by the slower growth of new jobs outside the agricultural sector (194K versus the expected 500K). Investors did not react to the negative dynamics, reasonably believing that it would not affect the plans of the US Federal Reserve to start tightening monetary policy soon.

On Friday, some support for the yen was provided by moderately optimistic macroeconomic statistics from Japan. Thus, the forecast for the development of events from Eco Watchers for September confidently rose from 43.7 to 56.6 points, which was noticeably better than market expectations of 45.8 points. The index of the current situation for the same period has strengthened from 34.7 to 42.1 points.

Support and resistance

Bollinger bands grow steadily on the daily chart. The price range actively narrows but not as fast as the “bullish” sentiments have developed in recent days. MACD grows, maintaining a strong buy signal (the histogram is above the signal line). Stochastic maintains a confident upward trend but is near its highs, indicating that USD may become overbought in the ultra-short term.

Resistance levels: 113.00, 113.50, 114.00.
Support levels: 112.06, 111.19, 110.81, 110.43.

Trading tips

Long positions may be opened after the breakout of 113.00 with the target at 114.00. Stop loss – 112.50. Implementation period: 1–2 days.

Short positions may be opened after the rebound from 113.00 and the breakdown of 112.50 with the target at 111.50. Stop loss – 113.00.

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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.

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AUD/USD: weak statistics does not impede the growth of the pair 15.10.2021

Good afternoon, dear forum visitors!

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

Current trend

AUD has been showing mixed performance against USD during the Asian session, consolidating near 0.7420 and updating local highs from September 7. Some support for the instrument is still provided by the rather vulnerable positions of USD: investors are in no hurry to open new positions, waiting for action from the US Fed to raise the interest rate in the near future.

The growth of AUD yesterday was not impeded by weak statistics from Australia on the labor market, which indicated a drop in Employment Change by 138K in September after falling by 146.3K in August. At the same time, the Unemployment Rate rose from 4.5% to 4.6%, which, however, turned out to be better than negative forecasts of an increase to 4.8%.

Support and resistance

Bollinger Bands in D1 chart show active growth. The price range is expanding but it fails to conform to the surge of "bullish" activity at the moment. MACD indicator grows, preserving a stable buy signal (located above the signal line). Stochastic retains an upward direction but is located in close proximity to its highs, which indicates the overbought AUD in the ultra-short term.

Resistance levels: 0.7440, 0.7500, 0.7550.
Support levels: 0.7408, 0.7374, 0.7328, 0.7287.

Trading tips

To open long positions, one can rely on the breakout of 0.7440. Take-profit – 0.7500. Stop-loss – 0.7408. Implementation time: 1-2 days.

A rebound from 0.7440 as from resistance, followed by a breakdown of 0.7408 may become a signal for new sales with the target at 0.7328. Stop-loss – 0.7450.

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

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

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

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

USD/JPY: USD consolidates near 2017 highs 20.10.2021

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 modest gains against JPY, holding near new record highs from November 2017.

The instrument is testing 114.50 for a breakout; however, the "bullish" impetus for USD has noticeably weakened since the beginning of the week, responding to the appearance of not the most optimistic macroeconomic statistics from the US. Data came out on Monday, indicating a sharp decline in industrial production in September by 1.3% MoM, while analysts expected an increase of +0.2% MoM. Experts point out that the decline in industrial production is caused by problems with supply chains, as well as a noticeable increase in energy prices in Europe and Asia.

Meanwhile, JPY was supported by data from Japan on exports and imports. Export volumes rose 13% YoY in September after rising 26.2% YoY a month earlier, while analysts had projected +11% YoY. Imports for the same period grew by 38.6% YoY, slowing down from +44.7% YoY in August. The indicator again turned out to be better than market forecasts at 34.4% YoY.

Support and resistance

Bollinger Bands in D1 chart show stable growth. The price range expands, freeing a path to new record highs for the "bulls". MACD indicator is growing, while preserving a rather stable buy signal (located above the signal line). Stochastic has been near its highs for a long time, signaling strongly overbought USD in the ultra-short term.

Resistance levels: 115.00, 115.50, 116.00.
Support levels: 114.50, 114.00, 113.50, 113.00.

Trading tips

To open long positions, one can rely on the breakout of 115.00. Take-profit – 116.00. Stop-loss – 114.50. Implementation time: 2-3 days.

The return of a "bearish" trend with the breakdown of 114.00 may become a signal for new sales with the target at 113.00. Stop-loss – 114.50.

Use more opportunities of the NPBFX analytical portal: E-book

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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.

AUD/USD: correction after decline at the end of the week  25.10.2021 

Good afternoon, dear forum visitors!

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

Current trend

AUD is showing corrective gains against USD, recovering from a moderate decline at the end of last week and preparing to test 0.7500 for a breakout; however, there are still few fundamental reasons for the instrument's growth.

Last week, the Chair of the US Federal Reserve, Jerome Powell, reiterated the regulator's commitment to a gradual tightening of monetary policy through a reduction in the quantitative easing (QE) program, which the Fed plans to fully complete by mid-2022. With regard to a potential increase in interest rates, the current inflation rate is significantly shortening the time frame, and there are no reasons for a slowdown in price growth so far.

Meanwhile, the activity of the US manufacturing sector, according to published data, is already starting to decline. Markit Manufacturing PMI in October fell from 60.7 to 59.2 points against the forecast at 60.3 points.

Support and resistance

Bollinger Bands in D1 chart show stable growth. The price range is narrowing, reflecting the appearance of ambiguous dynamics of trading in the short term. MACD is trying to reverse upwards but preserves its previous sell signal (located below the signal line). Stochastic is showing a more confident downtrend, still signaling in favor of the development of a corrective decline in the ultra-short term.

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

Resistance levels: 0.7500, 0.7550, 0.7600, 0.7650.
Support levels: 0.7440, 0.7408, 0.7374, 0.7328.

Trading tips

To open long positions, one can rely on the breakout of 0.7500. Take-profit – 0.7600. Stop-loss – 0.7440. Implementation time: 1-2 days.

The breakdown of 0.7440 may serve as a signal to new sales with the target at 0.7328. Stop-loss – 0.7500.

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

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

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