NZD/USD: the New Zealand dollar is actively increasing in value during Friday trading 09.02.2024

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

Current trend

The NZD/USD pair shows a fairly active growth, updating local highs from February 2. The instrument is testing 0.6120 for a breakout, while the fundamental picture on the market remains virtually unchanged. The day before, the position of the American currency again received support from comments from representatives of the US Federal Reserve, who, following the Chair of the regulator Jerome Powell, spoke in favor of a slower increase in borrowing costs. Against this background, investors assess the scenario with an interest rate adjustment of -25 basis points in March as unlikely (no more than 20.0%) and are focusing on the May meeting of the Fed.

In addition, the US dollar received some support the day before from statistics on jobless claims. For the week ended February 2, Initial Jobless Claims decreased from 227.0 thousand to 218.0 thousand, with a forecast of 220.0 thousand, and Continuing Jobless Claims went down from 1.894 million to 1.871 million, while analysts expected 1.878 million.

In turn, the position of the New Zealand currency came under pressure yesterday after the publication of January inflation statistics in China: the Consumer Price Index in annual terms lost 0.8% after -0.3% in the previous month, with preliminary estimates of -0.5%, and in monthly terms the indicator increased by 0.3%, accelerating from 0.1%.

Support and resistance

Bollinger Bands in D1 chart demonstrate flat dynamics. The price range is slightly narrowing, reflecting the ambiguous dynamics of trading in the short term. MACD indicator is growing, while preserving a rather stable buy signal (located above the signal line). Stochastic grows more steadily but is rapidly approaching its highs, which reflects risks of the overbought instrument in the ultra-short term.

Resistance levels: 0.6130, 0.6155, 0.6192, 0.6221.
Support levels: 0.6100, 0.6060, 0.6030, 0.6000.

Trading tips

Long positions can be opened after a breakout of 0.6130 with the target of 0.6192. Stop-loss — 0.6100. Implementation time: 2-3 days.

A rebound from 0.6130 as from resistance, followed by a breakdown of 0.6100 may become a signal for opening of new short positions with the target at 0.6030. Stop-loss — 0.6130.

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General Electric Co.: technical analysis 14.02.2024

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

Shares of General Electric Co., an American diversified corporation, continue to rise globally, trading at 142.00.

On the daily chart, the price is moving in an upward trend along the resistance line of the local channel with dynamic boundaries of 142.00–135.00.

On the four-hour chart, the quotes have consolidated above 137.00 (the initial trend of 61.8% Fibonacci extension) and are heading towards the resistance level of 156.00 (the basic trend of 100.0% Fibonacci extension).

Technical indicators hold a buy signal: fast EMAs on the Alligator indicator are above the signal line, expanding the range of fluctuations, and the AO histogram forms corrective bars in the buy zone.

Trading tips

Long positions may be opened after the price rises and consolidates above 144.00 with the target at 156.20. Stop loss – 140.00. Implementation period: 7 days or more.

Short positions may be opened after the price declines and consolidates below 137.00 with the target at 124.00. Stop loss – 140.00.

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Cisco Systems Inc.: technical analysis 19.02.2024

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

Shares of Cisco Systems Inc., an American manufacturer and supplier of network equipment for large holdings and telecommunications companies, are trading at 48.00.

On the daily chart, the price continues to work out the recent ascending channel with dynamic boundaries of 53.00–50.80.

On the four-hour chart, it can be seen that the potential for increasing the decline of the trading instrument remains, which is confirmed by the price being below the local support level of 49.00. The current target is last year’s low of 46.20, which the quotes may reach as early as next week.

Technical indicators are holding a sell signal: fast EMA on the Alligator indicator are below the signal line, and the AO oscillator histogram is forming corrective bars in the sell zone.

Trading tips

Short positions may be opened after the consolidation below the support level of 48.00 with the target at 45.70. Stop loss – 49.00. Implementation period: 7 days or more.

Long positions may be opened after the consolidation above the resistance level of 49.30 with the target at 52.00. Stop loss – 48.50.

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Visa Inc.: technical analysis 23.02.2024

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

Shares of Visa Inc., the largest American multinational company providing payment transaction services, are trading at 283.00.

On the daily chart, the price is moving within the global ascending channel with dynamic boundaries of 286.00–268.00, trying to consolidate above the resistance line.

On the four-hour chart yesterday, the quotes broke through the previous year’s high of 280.00, the last obstacle before reaching the resistance level of 290.00. There are practically no signs of a reversal now but if the asset consolidates below 280.00, a local correction to the support level of 270.00 is expected.

Technical indicators are strengthening the buy signal: the EMA fluctuation range on the Alligator indicator is expanding upward, and the AO histogram is forming upward bars above the transition level.

Trading tips

Long positions may be opened after the price rises and consolidates above 286.50 with the target at 298.00. Stop loss – 284.00. Implementation period: 7 days or more.

Short positions may be opened after the price declines and consolidates below 280.80 with the target at 267.40. Stop loss – 285.00.

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Starbucks Corp.: technical analysis 28.02.2024

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

Shares of Starbucks Corp., one of the largest companies that owns the coffee shop chain of the same name, are moving in a corrective trend at 94.00.

On the daily chart, the price is holding near the lower border of the global ascending channel 110.00–92.00, trying to start a growth wave.

On the four-hour chart, the quotes have been trading around the support line for a long time, having tested it at 91.80, 92.00, and 92.90, and if they consolidate above the local high of 96.00, a correction with a global target of 100.00 is expected.

Technical indicators gave a poor buy signal: fast EMAs on the Alligator indicator are moving away from the signal line, expanding the range of fluctuations, and the AO histogram is forming ascending bars in the buy zone.

Trading tips

Long positions may be opened after the price rises and consolidates above 95.50, with the target at 99.00. Stop loss – 94.00. Implementation period: 7 days or more.

Short positions may be opened after the price declines and consolidates below 93.00, with the target at 89.20. Stop loss – 95.00.

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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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ExxonMobil Corp.: technical analysis 04.03.2024

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

Shares of ExxonMobil Corp., an American oil company, are trading at 106.00.

A global corrective trend is forming on the daily chart, and the price is slightly above the base Fibonacci retracement level of 38.2% at 105.30.

On the four-hour chart, the quotes can reach the intermediate Fibonacci ratio of 50.0% at 108.20 and the full Fibonacci retracement level of 61.8% at 111.10. In the event of a reversal and consolidation of the asset below the base Fibonacci retracement level of 38.2% at 105.30, negative dynamics may develop to the initial Fibonacci retracement level of 23.6% at 101.60.

Technical indicators are holding a buy signal: fast EMA on the Alligator indicator are above the signal line, and the AO histogram is forming corrective bars above the transition level.

Trading tips

Long positions may be opened after the price rises and consolidates above 108.20, with the target at 111.10. Stop loss – 106.00. Implementation period: 7 days or more.

Short positions may be opened after the price declines and consolidates below 105.30, with the target at 101.60. Stop loss – 107.00.

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AUD/USD: the Australian dollar continues the "bullish" momentum 08.03.2024

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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

The AUD/USD pair is showing moderate growth, developing the "bullish" momentum formed last Wednesday, when quotes managed to retreat from the local lows of February 14. The instrument is testing 0.6630 for a breakout, and the "bulls" are updating local highs from January 16.

The Australian dollar, in addition to the further weakening of the American currency, was supported by optimistic statistics from China published on Thursday: Export volumes in February added 7.1% after an increase of 2.3% in the previous month, while analysts expected 1.9% and Imports accelerated from 0.2% to 3.5%, with a forecast of 1.5%. Such a noticeable increase in exports led to an increase in the trade surplus from 75.34 billion US dollars to 125.16 billion US dollars, with preliminary estimates of 103.7 billion US dollars.

The day before, investors assessed February data on Australian foreign trade: Export volumes adjusted from 1.5% to 1.6%, while Imports, on the contrary, slowed sharply from 4.8% to 1.3%. The trade surplus also rose from 10.74 billion Australian dollars to 11.03 billion Australian dollars, but fell short of expectations of 11.5 billion Australian dollars. Positive dynamics contribute to the strengthening of the national economy, without excluding the risks of accelerating inflation rates and the Reserve Bank of Australia (RBA) maintaining borrowing costs at peak values for a longer period of time.

Today, investors will focus on the publication of the February labor market report, which may affect the final decision of the US Federal Reserve on interest rates.

Support and resistance

Bollinger Bands in D1 chart show moderate growth. The price range is expanding but it fails to conform to the surge of "bullish" sentiments at the moment. MACD grows, preserving a stable buy signal (located above the signal line). The indicator is also trying to consolidate above the zero level. Stochastic retains an uptrend, but is located in close proximity to its highs, which points to the risk of overbought Australian dollar in the ultra-short term.

Resistance levels: 0.6630, 0.6662, 0.6700, 0.6750.
Support levels: 0.6600, 0.6578, 0.6551, 0.6524.

Trading tips

Long positions can be opened after a breakout of 0.6630 with the target of 0.6700. Stop-loss — 0.6600. Implementation time: 1-2 days.

A rebound from 0.6630 as from resistance, followed by a breakdown of 0.6600 may become a signal for opening of new short positions with the target at 0.6524. Stop-loss — 0.6630.

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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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Tesla Inc.: technical analysis 13.03.2024

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

Shares of Tesla Inc., a leading manufacturer of electric cars, continue their global correction, trading at 177.00.

On the daily chart, the price is held within the downward channel 227.00–157.00, heading towards the support line.

On the four-hour chart, the consolidation below the previous local low of 180.00 and the beginning of a global Flag trend continuation pattern with an implementation level of 185.00 confirm the decline in the quotes.

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

Trading tips

Short positions may be opened after the price declines and consolidates below 172.00, with the target at 144.00. Stop loss – 185.00. Implementation period: 7 days or more.

Long positions may be opened after the price rises and consolidates above 185.00, with the target at 205.00. Stop loss – 179.00.

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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.

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XAU/USD: precious metal quotes retreat from record highs 18.03.2024

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

Current trend

The XAU/USD pair is developing the "bearish" momentum formed last week: the instrument is testing 2145.00 for a breakdown, updating the local lows of March 7.

Quotes are being pressured by the upcoming meetings of global central banks this week, from which they are not expected to take steps towards easing monetary conditions. Moreover, the Bank of Japan could announce a historic rise in borrowing costs tomorrow, ending an eight-year period of negative interest rates during which it battled the effects of deflation. In turn, the US Federal Reserve and the Bank of England are unlikely to change the parameters of monetary policy, but analysts fear that both regulators will signal in favor of a more balanced approach before switching to "dovish" rhetoric. However, forecasts still suggest that the American regulator will lower interest rates at least three times before the end of 2024.

Trading participants continue to evaluate macroeconomic statistics from the United States, published last Friday. The Consumer Confidence Index from the University of Michigan dropped from 76.9 points to 76.5 points in March, while analysts expected it to remain the same. Industrial Production volumes in February added 0.1% after -0.5% in the previous month, while experts expected zero dynamics, and Capacity Utilization remained at 78.3% against the forecast of 78.5%.

The correction in the gold contract market continues. According to the report of the US Commodity Futures Trading Commission (CFTC), last week the number of net speculative positions in precious metal increased to 201.6 thousand from 191.3 thousand a week earlier. The balance in positions secured by real money amounted to 190.374 thousand for the "bulls" versus 30.814 thousand for the "bears". Last week, buyers increased the number of contracts by 25.734 thousand, and sellers decreased it by 2.766 thousand, provoking new investors to continue buying.

Support and resistance

Bollinger Bands on the daily chart show a steady increase. The price range is narrowing, reflecting the emergence of ambiguous dynamics of trading in the short term. MACD is going down preserving a stable sell signal (located below the signal line). Stochastic shows similar dynamics; however, the indicator line is located close to its lows, indicating the risks of gold being oversold in the ultra-short term.

Resistance levels: 2164.68, 2179.85, 2195.12, 2215.00.
Support levels: 2150.00, 2134.09, 2120.00, 2100.00.

Trading tips

Short positions may be opened after a breakdown of 2134.09 with the target at 2100.00. Stop-loss — 2150.00. Implementation time: 2-3 days.

A rebound from 2134.09 as from support followed by a breakout of 2150.00 may become a signal for opening new long positions with the target at 2179.85. Stop-loss — 2134.09.

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Netflix Inc.: technical analysis 22.03.2024

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

Shares of Netflix Inc., an American entertainment company, as well as a streaming service for films and TV series, are moving in a corrective trend at 623.00.

On the daily chart, the price is growing within the channel with dynamic boundaries of 660.00–585.00.

On the four-hour chart, the consolidation above the previous year’s high of 622.00 confirms the potential for an upward movement, and despite the asset being close to the channel resistance line of 660.00, there are no markers indicating the beginning of a full-fledged reversal. A consolidation below the support level of 600.00 will allow the instrument to decline to the channel support line of 580.00.

Technical indicators hold a buy signal: fast EMAs on the Alligator indicator are above the signal line, expanding the range of fluctuations, and the AO histogram forms corrective bars in the buy zone.

Trading tips

Long positions may be opened after the price rises and consolidates above 634.00, with the target at 690.00. Stop loss – 620.00. Implementation period: 7 days or more.

Short positions may be opened after the price declines and consolidates below 605.00, with the target at 549.00. Stop loss – 620.00.

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IBM Corp.: technical analysis 27.03.2024

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

Shares of IBM Corp., a giant in the development and sale of hardware software, are trading in a corrective trend at 188.00.

On the daily chart, the price moves within an ascending corridor with dynamic boundaries of 200.00–184.00, forming a downward wave.

On the four-hour chart, after breaking through the previous year’s high of 198.00, the quotes reversed downwards and are heading towards the mid-January low of 176.00. If the asset fails to overcome the support line of the channel of 184.00, a repeated upward reversal and renewing of global highs is possible.

Technical indicators are slowing the buy signal: fast EMAs on the Alligator indicator are approaching the signal line, narrowing the range of fluctuations, and the AO histogram is forming corrective bars, heading towards the transition level.

Trading tips

Short positions may be opened after the price declines and consolidates below 186.00, with the target at 176.50 and stop loss 190.00. Implementation period: 7 days or more.

Long positions may be opened after the price rises and consolidates above 192.30, with the target at 200.00. Stop loss – 189.00.

Use more opportunities of the NPBFX analytical portal: analytics

You can find more actual analytical reviews on other popular currency pairs, metals and CFDs on the NPBFX online portal. Daily analytics with charts, current market prognoses and trading scenarios in the Feed section are available. Get free and unlimited access to the online portal after registering on the official website of NPBFX Company.

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

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