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EUR/USD: EUR is consolidating after active growth the day before 29.10.2021 

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 ambiguous dynamics against USD during today's Asian session, consolidating near the local highs of September 29, which were renewed against the background of strong growth in the instrument yesterday. Notable support for EUR/USD was provided by not the most confident macroeconomic publications from the USA. Annual data on the dynamics of US GDP for Q3 2021 reflected a sharp slowdown in the US economy from +6.7% YoY to +2.0% YoY, which turned out to be worse than expectations of +2.7% YoY.

Investors also focused on the meeting of the European Central Bank (ECB). As expected, the regulator did not change the parameters of monetary policy, keeping both the rate and the volume of the quantitative easing (QE) program unchanged. At the follow-up press conference, ECB President Christine Lagarde noted that the European economy continues to recover, but its growth rate is gradually slowing down due to epidemiological risks, a period of high energy prices, as well as supply chain disruptions that undermine the recovery in industrial activity. As for the high rates of price growth, Lagarde expects inflationary pressures to ease as early as 2022.

Support and resistance

Bollinger Bands in D1 chart show moderate growth. The price range is narrowing, pointing at the ambiguous nature of trading in the short term. MACD indicator grows, preserving a stable buy signal (located above the signal line). Stochastic keeps its upward direction but is rapidly approaching its highs, which reflects the risks of overbought EUR in the ultra-short term.

Resistance levels: 1.1700, 1.1754, 1.1800, 1.1850.
Support levels: 1.1650, 1.1600, 1.1570, 1.1528.

https://a.radikal.ru/a36/2110/f9/5cc16dfbd84a.png

https://a.radikal.ru/a20/2110/20/5e52fe194f5a.png

Trading tips

To open long positions, one can rely on the breakout of 1.1700. Take-profit – 1.1800. Stop-loss – 1.1650. Implementation time: 1-2 days.

The breakdown of 1.1650 may serve as a signal to new sales with the target at 1.1550. Stop-loss – 1.1700.

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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 EUR/USD and trade efficiently with NPBFX.

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USD/CAD: the Canadian currency is being held in an uptrend 01.11.2021

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/CAD is showing neutral dynamics against the background of the growth of USD quotes, being at 1.2387. CAD is holding onto an uptrend following the release of Canadian GDP, which rose 0.4% in August after falling 0.1% in July. In addition, investors reacted positively to the increase in September Raw Material Price Index by 2.5% after –2.4% shown a month earlier. The Industrial Product Price Index climbed 1.0% in September after recording a 0.3% decline in August.

In turn, USD again exceeded the psychological level of 94 points in the USD Index and is now trading at 94.230. Investors reacted positively to the publication of statistics by the University of Michigan. Consumer Expectations Index in October amounted to 67.9 points, which is higher than the predicted 67.2 points. The Consumer Sentiment Index was 71.7 points, which exceeded the September value at around 71.4 points.

Support and resistance

On the global chart, the price is correcting, completing the formation of the Flag, the local pattern of the trend continuation. The fluctuation range of the EMAs on the Alligator indicator begins to gradually narrow, and the histogram of the AO oscillator is trading in the sell zone, forming local upward bars.

Resistance levels: 1.2436, 1.2622.
Support levels: 1.2305, 1.2163.

https://b.radikal.ru/b42/2111/8a/b4527ace5495.png

Trading tips

If the asset continues declining and the price consolidates below 1.2305, short positions can be opened with the target at 1.2163. Stop-loss – 1.2400. Implementation time: 7 days and more.

If the asset reverses and continues growing globally and the price consolidates above 1.2436, long positions will be relevant with the target at 1.2622. Stop-loss – 1.2360.

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 USD/CAD and trade efficiently with NPBFX.

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GBP/USD: Bank of England is ready to raise interest rates 03.11.2021 

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/USD continues to decline against the background of the stabilization of USD and is currently trading at 1.3631.

In the absence of significant economic releases, investors are awaiting the outcome of the Bank of England meeting, which is scheduled for Thursday. The regulator may announce an increase in interest rates, which was previously hinted at by its Governor, Andrew Bailey. At least three members of the Bank of England are ready to vote for its change, but this does not apply to the decision to adjust the volume of the quantitative easing (QE) program, which is likely to remain at the same level of 875B pounds, and there are still no catalysts for the growth of GBP.

In turn, USD has consolidated at the psychological level of 94.000 in the USD Index, and investors are awaiting a meeting of the US Fed on monetary policy. Market participants will be focused on the data on ADP Employment Change in the US, which will be published 6 hours before the start of the meeting. Analysts expect another reduction in the number of jobs created to 400K from 568K a week earlier, which may be a deterrent to the start of tightening the current monetary policy.

Support and resistance

GBP/USD is trading within the global downtrend channel, declining towards the support line. Technical indicators are in an updated sell signal state: the fast Alligator indicator EMAs crossed the signal line from above, and the histogram of the AO oscillator moved to the sales area.

Resistance levels: 1.3730, 1.3983.
Support levels: 1.3571, 1.3414.

https://d.radikal.ru/d34/2111/f8/97db16d9afe4.png

Trading tips

If the asset continues global decline and the price consolidates below 1.3571, short positions can be opened with the target at 1.3414. Stop-loss – 1.3640. Implementation time: 7 days and more.

If the asset reverses, continues corrective growth, and the price consolidates above 1.3730, long positions will be relevant with target at 1.3983. Stop-loss – 1.3650.

Use more opportunities of the NPBFX analytical portal: glossary

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

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

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USD/JPY: dollar is preparing to end the week with a slight decline 05.11.2021

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 US dollar is showing multidirectional trend against the yen, holding around 113.60.

The US currency is trying to recover after the publication of the minutes of the US Fed meeting, according to which the regulator begins a gradual reduction in the quantitative easing (QE) program, but at the same time it is still far from starting a cycle of raising the interest rate. However, the pressure on the dollar is easing slightly, as other global central banks (the European Central Bank, Bank of England and Bank of Japan) also seem to be in no rush to introduce tighter monetary policy. The day before, the statistics on the dynamics of jobless claims provided moderate support to the American currency. The number of Initial Jobless Claims decreased from 283K to 269K, ahead of most forecasts around 277K.

Todayб investors are focused on the October report on the US labor market, which, according to analysts, may put additional pressure on the US Fed in the matter of a gradual tightening of monetary policy.

Support and resistance

Bollinger Bands in D1 chart demonstrate an unsteady decrease. The price range is narrowing from above, remaining spacious enough for the current activity level in the market. MACD is developing a fairly strong downtrend, maintaining a sell signal, being located below the signal line. Stochastic also keeps a confident downward direction but is already approaching its lows, which indicates the risks of oversold USD in the ultra-short term.

Resistance levels: 114.00, 114.50, 115.00.
Support levels: 113.50, 113.00, 112.06, 111.19.

https://d.radikal.ru/d07/2111/d2/e234a14c432a.png

https://d.radikal.ru/d16/2111/a5/13daa41c043d.png

Trading tips

To open short positions, one can rely on the breakdown of 113.50 with the target at 112.50. Stop-loss — 114.00. Implementation time: 2-3 days.

A rebound from 113.50 as from support followed by a breakout of 114.00 may become a signal for new purchases with the target at 115.00. Stop-loss — 113.50.

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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/JPY and trade efficiently with NPBFX.

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NZD/USD: New Zealand dollar wins back its losses 08.11.2021 

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

The New Zealand dollar has shown active gains against the US currency during the Asian session, recovering from a noticeable decline at the end of last week, as a result of which NZD/USD renewed its local lows from October 18.

A noticeable pressure on the positions of the New Zealand currency last Friday was exerted by the published report on the US labor market for October. Investors were encouraged by the data on the growth of Nonfarm Payrolls by 531K in October after an increase of 312K in September. Market forecasts assumed an increase of only 425K. The Unemployment Rate in October fell from 4.8% to 4.6%, which also turned out to be better than the projected 4.7%.

Analysts hope that strong macroeconomic statistics will support the US Fed in its intention to tighten monetary policy. However, the growth of rates is still questionable not only for the American regulator, but also for the Bank of England, as well as the European Central Bank.

Support and resistance

Bollinger Bands in D1 chart demonstrate a slight decrease. The price range is expanding from below, barely keeping up with the surge in "bearish" sentiment at the end of last week. The MACD indicator is declining, maintaining a relatively strong sell signal (the histogram is below the signal line). Stochastic shows a similar dynamics, but tends to reverse into a horizontal plane, reacting to the appearance of an upward correction at the beginning of the week.

Resistance levels: 0.7150, 0.7200, 0.7250, 0.7300.
Support levels: 0.7100, 0.7040, 0.7000, 0.6950.

https://c.radikal.ru/c16/2111/00/7bdfb11a97fb.png

https://c.radikal.ru/c12/2111/05/815e8e673cff.png

Trading tips

To open long positions, one can rely on the breakout of 0.7150. Take-profit – 0.7250. Stop-loss – 0.7100. Implementation time: 1-2 days.

A rebound from 0.7150 as from resistance, followed by a breakdown of 0.7100 may become a signal for new sales with the target at 0.7000. Stop-loss – 0.7150.

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 NZD/USD and trade efficiently with NPBFX.

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GBP/USD: the pound is consolidating near 1.3550 10.11.2021 

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

The British pound shows ambiguous trading dynamics against the US dollar during the morning session and is consolidating around 1.3550. Prior to that, the currency of the United Kingdom renewed local maximums since November 4; however, the "bulls" failed to fix at new levels and after that corrective sentiments began to be clearly noticeable. Investors are in no hurry to open new trading positions, preferring to wait for the publication on the next Thursday, November 11, of statistics on GDP and industrial production in the UK for September.

Statistics from the US will appear a day earlier, on Wednesday, November 10. Analysts expect fresh data on inflation, which today is becoming one of the fundamental questions not only for the US Fed, but also for many of the world's leading central banks. Market forecasts suggest that US inflation in October will accelerate from +0.4% MoM to +0.5% MoM, but may slightly slow down from +5.4% YoY to +5.3 % YoY.

Support and resistance

Bollinger Bands in D1 chart demonstrate active decrease. The price range narrows from above, but still remains spacious enough for the current level of market activity. MACD indicator turns in the direction of growth and forms a new buy signal (the histogram is trying to gain a foothold above the signal line), Stochastic demonstrates similar dynamics, developing a “bullish” momentum and being approximately in the center of its working area.

Resistance levels: 1.3600, 1.3650, 1.3700, 1.3750.
Support levels: 1.3500, 1.3450, 1.3400, 1.3350.

https://b.radikal.ru/b32/2111/d0/90196615bcb6.png

https://d.radikal.ru/d09/2111/7e/54713c436123.png

Trading tips

To open long positions, one can rely on the upward breakdown of 1.3600 with the target at 1.3700.  Stop-loss — 1.3550. Implementation period: 2-3 days.

The return of "bearish" trend with the breakdown of 1.3500 may become a signal for further sales with target at 1.3400. Stop-loss — 1.3550.

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.

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AUD/USD: the instrument develops a confident "bearish" trend 12.11.2021 

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

The Australian currency shows ambiguous trading dynamics against the US dollar during the Asian session and is testing the area of 0.7300 for a breakdown.

The instrument has been developing a confident “bearish” trend since the beginning of the week, responding to the fact that the US currency is strengthening amid the publication of strong statistics on consumer inflation in the United States. On Thursday, the pressure on the position of the Australian dollar intensified with the appearance of a disappointing report on the labor market in the country for October. We should recall that the level of employment in the last month decreased by another 46.3K after the previously recorded decline by 138K, while analysts expected an increase in the indicator by 50K. The unemployment rate in October rose sharply from 4.6% to 5.2%, which also turned out to be worse than market forecasts of 4.7%.

Trading activity today remains low, as market participants prefer to fix some of their positions before the weekend. The macroeconomic calendar is currently uneventful, so traders should pay attention only to the publication of the consumer confidence index from the University of Michigan for November.

Support and resistance

Bollinger Bands in D1 chart demonstrate a stable decrease. The price range is expanding but it fails to conform to the surge of "bearish" activity at the moment. The MACD indicator is declining, maintaining a strong sell signal (the histogram is below the signal line), Stochastic has reached its minimum values and is turning into a horizontal plane, which signals the risks of the Australian dollar being oversold in the ultra-short term.

Resistance levels: 0.7328, 0.7374, 0.7408, 0.7440.
Support levels: 0.7275, 0.7250, 0.7219, 0.7169.

https://c.radikal.ru/c43/2111/11/be4c1ed3e9d0.png

https://b.radikal.ru/b04/2111/af/28fb79f6237b.png

Trading tips

To open short positions, one should wait for the confident breakdown of 0.7275. Take-profit — 0.7169. Stop-loss – 0.7328. Implementation period: 1-2 days.

A rebound from 0.7275 as from support followed by a breakout of 0.7328 may become a signal for new purchases with the target at 0.7408. Stop-loss – 0.7285.

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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NZD/USD: New Zealand dollar develops corrective growth 15.11.2021

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

The New Zealand currency is showing moderate gains against the US dollar during the Asian session and is developing a corrective uptrend that formed at the end of last week. On Friday, November 12, the instrument managed to move away from local minimums, which was the result of closing most of the long positions in the US currency before the weekend.

The choice of investors was influenced by macroeconomic statistics. Thus, American traders reacted negatively to the unexpected decrease in the consumer confidence index from the University of Michigan in November from 71.7 to 66.8 points. In turn, the index of business activity in the manufacturing sector of New Zealand in October rose from 51.4 to 54.3 points, which was better than the average forecasts of experts.

A noticeable support for the instrument at the beginning of the week is provided by the optimistic sentiment of China. The volume of retail sales in the country in October increased by 4.9% YoY after growing by 4.4% YoY last month (although analysts expected the indicator to slow down to 3.5% YoY), and the pace of industrial production accelerated from the previous +3.1% YoY to +3.5% YoY — that turned out to be better than the market forecasts of +3.0% YoY.

Support and resistance

Bollinger Bands in D1 chart demonstrate a stable decrease. The price range is expanding from below; however, it fails to catch the surge of the "bearish" sentiment at the moment. MACD indicator is declining and maintaining a strong sell signal (the histogram is below the signal line), Stochastic shows a corrective upward reversal and is located near its minimum values, which signals that the instrument is oversold in the ultra-short term.

Resistance levels: 0.7071, 0.7100, 0.7150, 0.7200.
Support levels: 0.7040, 0.7000, 0.6950, 0.6900.

https://d.radikal.ru/d02/2111/a2/cbc69e60caa0.png

https://d.radikal.ru/d25/2111/90/f03f8e91d489.png

Trading tips

To open long positions, one can rely on the breakout of 0.7071. Take-profit – 0.7150. Stop-loss – 0.7030. Implementation period: 1-2 days.

A rebound from 0.7071 as from resistance, followed by a breakdown of 0.7040 may become a signal for new sales with the target at 0.6950. Stop loss – 0.7080.

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 NZD/USD and trade efficiently with NPBFX.

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USD/CAD: the American currency is returning to local highs since the beginning of October 17.11.2021

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

The US dollar has shown slight gains against the Canadian currency during the Asian session, building on the "bullish" momentum that had formed the day before. A noticeable support to USD yesterday was provided by confident statistics from the US on the dynamics of retail sales. In October, sales volumes increased by 1.7% MoM after increasing by 0.8% MoM in September. Market forecasts assumed an increase of only 1.4% MoM. Retail Sales Control Group accelerated over the same period from +0.5% MoM to +1.6% MoM, also outperforming forecasts of +0.9% MoM.

Investors today are focused on the Canadian statistics on inflation for October. The Consumer Price Index is expected to accelerate from +0.2% MoM to +0.7% MoM and from +4.4% YoY to +4.7% YoY. If analysts' expectations are justified or the real dynamics turns out to be higher, the Bank of Canada may receive an additional signal for further tightening of monetary policy.

Support and resistance

Bollinger Bands in D1 chart show stable growth. The price range is slightly expanding from above, remaining spacious enough for the current activity level in the market. MACD indicator is growing, while preserving a rather stable buy signal (located above the signal line). Stochastic, having slightly retreated from the level of "80" is again reversing into a horizontal plane, reacting to the renewed growth of the US currency.

Resistance levels: 1.2600, 1.2650, 1.2700, 1.2746.
Support levels: 1.2558, 1.2500, 1.2450, 1.2400.

https://a.radikal.ru/a29/2111/66/a831c8e799c8.png

https://c.radikal.ru/c08/2111/f4/0e3eecbf5f7b.png

Trading tips

To open long positions, one can rely on the breakout of 1.2600. Take-profit – 1.2700. Stop-loss – 1.2558. Implementation time: 1-2 days.

A rebound from 1.2600 as from resistance, followed by a breakdown of 1.2558 may become a signal for new sales with the target at 1.2450. Stop-loss – 1.2610.

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 USD/CAD and trade efficiently with NPBFX.

NPBFX - Best STP Broker 2016, 2017 & Best Execution Broker 2017 on China Forex Expo, Best Broker CIS 2018

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USD/JPY: the dollar resumed growth at the end of the week 19.11.2021

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 US dollar shows a slight increase against the Japanese yen in trading in Asia, building on the "bullish" momentum that formed the day before. USD/JPY is trying to recover from a sharp decline on Wednesday, when the US currency retreated from its record highs amid growing concerns about the further maintenance of the US Fed's monetary policy.

Investors today are focused on the statistics on consumer inflation in Japan for October. The National Consumer Price Index rose only 0.1% YoY after rising 0.2% YoY in September. Analysts had expected growth by 0.5% YoY. The National Consumer Price Index excluding Food and Energy strengthened by 0.4% YoY over the same period after falling by 0.5% YoY in the previous period. Analytical forecasts assumed a decline of 0.6% YoY.

Support and resistance

Bollinger Bands in D1 chart demonstrate flat dynamics. The price range is slightly expanded from above, remaining spacious enough for the current activity level in the market. MACD is declining keeping a weak sell signal (located below the signal line). Stochastic demonstrates a noticeably more active decline and practically does not react to the instrument's attempt to grow at the end of the week.

To open new trading positions, it is necessary to wait for the signals from technical indicators to be clarified.

Resistance levels: 114.50, 115.00, 115.50, 116.00.
Support levels: 114.00, 113.50, 113.00, 112.50.

https://b.radikal.ru/b33/2111/88/fd0e3ddc3f29.png

https://d.radikal.ru/d30/2111/90/2c6f3dbedceb.png

Trading tips

To open long positions, one can rely on the breakout of 114.50. Take-profit – 115.50. Stop-loss – 114.00. Implementation time: 2-3 days.

A rebound from 114.50 as from resistance followed by a 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

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.

NPBFX - Best STP Broker 2016, 2017 & Best Execution Broker 2017 on China Forex Expo, Best Broker CIS 2018

Re: NPBFX - making money with us since 1996!

GBP/USD: the pound is consolidating at 1.3440 22.11.2021

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

The British pound is trading lower against the US dollar during the morning session, consolidating near 1.3440. At the end of last week, GBP/USD showed a rather active decline, which was associated with the flight of investors from risky assets. The market reacted negatively to the announcement by the Austrian authorities of a national quarantine in response to a sharp increase in the incidence in the country. Traders fear that similar measures will be taken by other European countries, which will have an extremely negative impact on the pace of economic recovery in the region. Moreover, it only strengthens the belief that the European Central Bank (ECB) and the Bank of England can abandon the idea of an imminent monetary tightening. Many expect an increase in interest rates from the British regulator in December.

As for the macroeconomic statistics, it continues to provide moderate support to the British currency. Friday's data showed a noticeable 0.8% MoM increase in Retail Sales in October after a flat performance in September. Analysts had expected growth by only 0.5% MoM. On an annualized basis, sales plunged 1.3% YoY after falling 0.6% YoY a month earlier. Experts predicted a 2% YoY decline in sales.

Support and resistance

Bollinger Bands in D1 chart demonstrate a stable decrease. The price range is actively narrowing, reacting to the emergence of multidirectional dynamics in the short term. MACD indicator is growing preserving a weak buy signal (located above the signal line). Stochastic is showing a downward reversal near its highs, indicating a moderately overbought British currency in the ultra-short term.

Resistance levels: 1.3450, 1.3500, 1.3550, 1.3600.
Support levels: 1.3400, 1.3350, 1.3300, 1.3250.

https://b.radikal.ru/b42/2111/15/3ab55e2ac017.png

https://b.radikal.ru/b20/2111/53/cabf65ff8c42.png

Trading tips

To open long positions, one can rely on the breakout of 1.3500. Take-profit – 1.3600. Stop-loss – 1.3450. Implementation time: 2-3 days.

The breakdown of 1.3400 may serve as a signal to new sales with the target at 1.3300. Stop-loss – 1.3450.

Use more opportunities of the NPBFX analytical portal: glossary

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

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GBP/USD: the pound develops corrective decline 24.11.2021

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

The British pound is trading lower against the US currency during the morning session, being under pressure since last Friday. The pound finds nothing to counter the rising dollar, despite some very optimistic evidence of the strength of the UK economy. In particular, yesterday investors reacted to the publication of statistics on business activity. In the manufacturing sector, activity in the UK in November rose from 57.8 to 58.2 points, ahead of forecasts of a decline to 57.3 points. Services PMI, in turn, slightly decreased from 59.1 to 58.6 points, but remains at quite acceptable levels.

Positive statistics from the UK allows us to maintain expectations regarding further tightening of monetary policy by the Bank of England. Markets expect the British regulator to make a decision on this matter already at the December meeting.

Investors are focused on macroeconomic statistics from the USA today. Among the most important indicators are the dynamics of durable goods orders in November, annual GDP data for Q3 2021 and statistics on personal income and expenses of American citizens for October.

Support and resistance

On the D1 chart, Bollinger Bands are gradually reversing horizontally. The price range expands from below, making way for new local lows for the "bears". MACD is declining keeping a weak sell signal (located below the signal line). Stochastic keeps a downward direction but is already approaching its lows, which indicates the risks of oversold GBP in the ultra-short term.

Resistance levels: 1.3400, 1.3450, 1.3500, 1.3550.
Support levels: 1.3341, 1.3300, 1.3250, 1.3200.

https://c.radikal.ru/c16/2111/6f/c4dd053b7cdb.png

https://a.radikal.ru/a22/2111/4f/50ca61128079.png

Trading tips

To open long positions, one can rely on the rebound from the support level of 1.3341 with the subsequent breakout of 1.3400. Take-profit – 1.3500. Stop-loss – 1.3341. Implementation time: 2-3 days.

The breakdown of 1.3341 may serve as a signal for new sales with the target at 1.3250. Stop-loss – 1.3400.

Use more opportunities of the NPBFX analytical portal: glossary

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

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AUD/USD: Australian dollar renews local lows 26.11.2021

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

The Australian dollar is showing a steady decline during the Asian session, updating local lows since the end of August and testing 0.7140 for a breakdown.

The instrument is still under pressure after the release of a large block of macroeconomic statistics from the US last Wednesday. Among other things, the data reflected a sharp decline in the number of Initial Jobless Claims from 270K to a new record low of 199K. Analysts' forecasts assumed a reduction to 260K. The dynamics of Personal Income and Spending of American citizens in October were also positive.

In general, the recovery of the American economy exceeded expectations, and therefore the US Fed may accelerate the reduction of the current quantitative easing (QE) program and move faster to the cycle of raising the interest rate.

Today, the instrument almost completely ignores the strong statistics from Australia. October Retail Sales data in Australia showed an increase of 4.9% MoM after increasing 1.3% MoM in September. Analysts had expected growth of 2.5% MoM.

Support and resistance

Bollinger Bands in D1 chart demonstrate a stable decrease. The price range is expanding but it fails to conform to the surge of "bearish" activity at the moment. MACD is going down preserving a stable sell signal (located below the signal line). Stochastic has been near its lows for a long time, indicating the risks of the Australian dollar being oversold in the ultra-short term.

Resistance levels: 0.7160, 0.7200, 0.7250, 0.7300.
Support levels: 0.7100, 0.7050, 0.7000.

https://b.radikal.ru/b40/2111/be/95ef8c4f3997.png

https://a.radikal.ru/a27/2111/1e/e4639a9f5e47.png

Trading tips

To open short positions, one can rely on the breakdown of 0.7100. Take-profit – 0.7000. Stop-loss – 0.7160. Implementation time: 1-2 days.

A rebound from 0.7100 as from support followed by a breakout of 0.7160 may become a signal for new purchases with the target at 0.7250. Stop-loss – 0.7100.

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USD/JPY: volatile dynamics on the news of a new strain 29.11.2021

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 US dollar is showing mixed dynamics against the Japanese yen during trading in Asia, consolidating near 113.50. At the end of last week, the instrument showed a sharp decline, quickly retreating from its record highs, which became the market's reaction to the discovery of a new, Omicron, strain of coronavirus, which threatens the fragile process of global economic recovery. The World Health Organization (WHO) noted that the virus has undergone changes "of relevance to global public health".

Moderate support for the yen, in turn, was provided by Friday's data on consumer prices in Japan. In November, Tokyo Consumer Price Index rose 0.5% MoM, accelerating from 0.1% MoM growth in October. At the beginning of the new week, buying activity on the yen is supported by upbeat data from Japan on retail sales. In September, sales increased by 1.1% MoM and 0.9% YoY, which turned out to be better than forecasts, since in monthly terms the markets expected a decline in indicators by 1.6% MoM.

Support and resistance

In the D1 chart, Bollinger Bands are reversing horizontally. The price range is changing slightly, but remains rather spacious for the current level of activity in the market. MACD is going down preserving a stable sell signal (located below the signal line). Stochastic keeps a confident downward direction but is already approaching its lows, which indicates the risks of oversold USD in the ultra-short term.

Resistance levels: 114.00, 114.50, 115.00, 115.50.
Support levels: 113.50, 113.00, 112.50, 112.06.

https://a.radikal.ru/a07/2111/83/83ec7ab88fe5.png

https://d.radikal.ru/d12/2111/cd/89235fd1fdde.png

Trading tips

To open long positions, one can rely on the breakout of 114.00 with the target at 115.00. Stop-loss – 113.50. Implementation time: 1-2 days.

The development of "bearish" trend with the breakdown of 113.00 may become a signal for further sales with target at 112.06. Stop-loss – 113.50.

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GBP/USD: pound recovers testing 1.3320 01.12.2021

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

The British pound is growing against the US dollar during the morning session, trying to consolidate above 1.3320.

The day before, GBP/USD showed active, but ambiguous trading dynamics, briefly renewing record lows since the end of December 2020. The pressure on the British currency was again exerted by traders' fears about the spread of the new Omicron coronavirus strain. Pharmaceutical companies officials said existing vaccines may show reduced efficacy with a new virus mutation. The market reacted immediately to this data, and given the already extremely low demand for risk, the pound renewed its record lows. Investors also fear that the threat of new restrictions will catalyze a change in the position of the Bank of England on a possible tightening of monetary policy in December. The British regulator is unlikely to completely correct its course, but it may well take a pause for several months until the situation is clarified.

Today, investors will be focused on the speech of the Governor of the Bank of England, Andrew Bailey, who, most likely, will reveal the regulator's plans in the light of new epidemiological shocks.

Support and resistance

In the D1 chart, Bollinger Bands are reversing horizontally. The price range is expanding, making way to new record lows for the "bears". MACD indicator is trying to reverse upwards and form a new buy signal (the histogram has to consolidate above the signal line). Stochastic demonstrates a similar dynamics, signaling in favor of the development of the uptrend in the nearest future.

Resistance levels: 1.3350, 1.3400, 1.3450, 1.3500.
Support levels: 1.3300, 1.3250, 1.3200, 1.3150.

https://a.radikal.ru/a06/2112/1c/57fff1352b6d.png

https://d.radikal.ru/d12/2112/0a/0d1248c30868.png

Trading tips

To open long positions, one can rely on the breakout of 1.3350 with the target at 1.3450. Stop-loss – 1.3300. Implementation time: 1-2 days.

A rebound from 1.3350 as from resistance followed by a breakdown of 1.3300 may become a signal for new sales with the target at 1.3200. Stop-loss — 1.3350.

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.

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USD/CHF: USD is trying to recover 03.12.2021

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 American currency is showing weak gains against the Swiss franc during the Asian session, recovering from local lows since November 10, updated last Tuesday. Market participants expect the November US labor market report to enter the market, which should clarify the outlook for the US Fed's monetary policy. The Chairman of the regulator Jerome Powell agreed with the arguments of the market about the threats of inflationary pressure, noting that to stabilize the situation, officials may have to resort to additional measures. In particular, the market is counting on a possible acceleration in the pace of reduction of the quantitative easing program, after which the US Fed is likely to move to raising the interest rate.

The American macroeconomic statistics published yesterday turned out to be ambiguous. Investors reacted rather restrainedly to the increase in the number of initial jobless claims for the week ended November 26 from 194K to 222K. At the same time, the real dynamics turned out to be 18K better than market expectations. Continuing jobless claims for the first time in a long time fell below the psychological mark of 2M to 1.956M.

Support and resistance

On the D1 chart, Bollinger Bands are gradually reversing into a descending plane. The price range is expanding from below, remaining spacious enough for the current activity level in the market. MACD is going down preserving a rather stable sell signal (located below the signal line). Stochastic, having rebounded from the lows in the middle of the week, maintains an uptrend, signaling in favor of corrective growth in the nearest time intervals.

Resistance levels: 0.9200, 0.9220, 0.9250, 0.9272.
Support levels: 0.9175, 0.9150, 0.9100, 0.9073.

https://a.radikal.ru/a12/2112/a0/aac83015d85b.png

https://d.radikal.ru/d24/2112/43/b79b46ee2be1.png

Trading tips

To open long positions, one can rely on the breakout of 0.9220 with the target at 0.9272. Stop-loss – 0.9190. Implementation time: 2-3 days.

A rebound from 0.9220 as from resistance followed by a breakdown of 0.9200 may become a signal for new sales with the target at 0.9150. Stop-loss – 0.9220.

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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.

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717 (edited by Antony_NPBFX 2021-12-06 08:47:17)

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AUD/USD: the instrument is trying to consolidate above 0.7000 06.12.2021

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

The national currency of Australia shows moderate corrective gains against the US dollar during the Asian session, recovering from a noticeable decline last Friday, when AUD/USD hit record lows since early November 2020. Pressure on the instrument's position is still exerted by the fact of investor distrust of risky assets amid the emergence of information regarding the spread of the new Omicron coronavirus strain.

In addition, the surge in "bearish" activity was caused by the release of a controversial report on the US labor market. In November, the American economy failed to meet high expectations for growth in the labor market and demonstrated the creation of only 210K new jobs outside the agricultural sector, while analysts' forecasts assumed an increase of 550K. At the same time, the Unemployment Rate, which collapsed from 4.6% to 4.2%, supported the market's confidence that the US Fed will nevertheless accelerate in terms of reducing existing incentives and move faster to raising interest rates.

Support and resistance

Bollinger Bands in D1 chart demonstrate a stable decrease. The price range is expanding but it fails to conform to the surge of "bearish" activity at the moment. MACD is going down, keeping a fairly stable sell signal (located below the signal line). Stochastic reversed back to the downside at the end of last week, but is located in the immediate vicinity of its zero values, indicating the risks of the oversold Australian dollar in the ultra-short term.

Resistance levels: 0.7050, 0.7100, 0.7160, 0.7200.
Support levels: 0.7000, 0.6950, 0.6900.

https://d.radikal.ru/d24/2112/7a/164c70d36d13.png

https://a.radikal.ru/a05/2112/62/fd238017a3ea.png

Trading tips

To open long positions, one can rely on the rebound from the support level of 0.7000 with the subsequent breakout of 0.7050 with the target at 0.7160. Stop-loss – 0.7000. Implementation time: 2-3 days.

The breakdown of 0.7000 may serve as a signal for new sales with the target at 0.6900. Stop-loss — 0.7050.

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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: the price develops a corrective impulse 08.12.2021

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

Today, during the Asian session, gold prices grow moderately, developing the correctional impulse formed yesterday, and test the level of 1790.00 for a breakout, waiting for new drivers to appear.

More active positive dynamics are hindered by an increase in optimism in the market since the new strain of coronavirus will not be a significant obstacle to the further recovery of the global economy. Pressure on the instrument is also exerted by the rather strong positions of the American currency, as traders expect that the US Federal Reserve will accelerate the withdrawal of the quantitative easing (QE) program during the December meeting. Earlier, the head of the regulator, Jerome Powell, recognized the risks of systemic inflation and noted that additional efforts might be required to stabilize prices in the country.

The US labor market report for November released last Friday also signaled in favor of a faster monetary tightening. The unemployment rate fell sharply from 4.6% to 4.2%, well ahead of analysts' forecasts of a decline only to 4.5%.

Support and resistance

On the daily chart, Bollinger bands steadily decline. The price range narrows sharply, indicating an ambiguous nature of trading in the short term. The MACD indicator grows, maintaining a poor buy signal (the histogram is above the signal line). Stochastic shows more active growth but rapidly approaches its highs, indicating a limited potential for developing ultra-short-term corrective growth.

Resistance levels: 1790.00, 1800.00, 1812.22, 1822.10.
Support levels: 1778.32, 1769.67, 1760.74, 1750.44.

https://d.radikal.ru/d18/2112/d3/670a329e4f21.png

https://c.radikal.ru/c13/2112/4c/69ce0bf0b939.png

Trading tips

Long positions may be opened after the breakout of 1800.00 with the target at 1822.10. Stop loss – 1790.00. Implementation period: 2–3 days.

Short positions may be opened after the rebound from 1790.00 and the breakdown of 1778.32 with the target at 1760.74. Stop loss – 1790.00.

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EUR/USD: euro failed to take advantage of corrective growth 10.12.2021

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

The European currency shows ambiguous trading dynamics against the US dollar during the Asian session, consolidating near 1.1300 after a moderate decline the day before.

The pressure on the single currency yesterday was exerted by not the strongest macroeconomic statistics from Germany, as well as further strengthening of the American currency, which secured additional support from the published data on jobless claims.

The number of Initial Jobless Claims for the week ended December 3 decreased from 227K to 184K, which turned out to be significantly better than analysts' forecasts at the level of 215K. Strong data on the labor market serve as an additional argument in favor of a faster cut in the quantitative easing program from the US Fed. Nevertheless, investors are in no hurry to draw conclusions and prefer to wait for today's publication of November statistics on US consumer inflation. Germany will also present its inflation data at the end of the week. In addition, during the day there will be speeches by the President of the European Central Bank Christine Lagarde and two representatives of the regulator, Fabio Panetta and Frank Elderson.

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 indicator is growing preserving a weak buy signal (located above the signal line). Stochastic is showing more confident growth; however, it is located near its highs, which indicates the risks of overbought EUR in the ultra-short term.

Resistance levels: 1.1300, 1.1355, 1.1400, 1.1422.
Support levels: 1.1255, 1.1200, 1.1153, 1.1100.

https://b.radikal.ru/b21/2112/d3/2bf0305405c8.png

https://d.radikal.ru/d06/2112/6d/341f30fbc320.png

Trading tips

To open long positions, one can rely on the breakout of 1.1355 with the target at 1.1460. Stop-loss – 1.1300. Implementation time: 2-3 days.

The breakdown of 1.1255 may serve as a signal to new sales with the target at 1.1153. Stop-loss – 1.1300.

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You can learn more about the current situation on EUR/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 AUD/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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USD/JPY: USD is recovering its positions 13.12.2021

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 American currency is showing an uptrend against the Japanese yen in Asian trading, recovering after the "bearish" end of last week's trading.

At the moment, the dollar is testing the level of 113.50 for a breakout in anticipation of the upcoming meeting of the US Fed and the actions of the regulator in the matter of tightening monetary policy. Last Friday, the US published inflation statistics, which did not meet investors' expectations, but reflected the fastest rise in consumer prices over the past 40 years. The last US Fed's meeting this year will take place on December 15 and it is likely that the regulator will accelerate the pace of reduction of the current quantitative easing (QE) program in order to move faster to raising interest rates.

The data released in Japan today do not provide additional support to the yen. Machinery Orders in October showed a sharp slowdown from 12.5% to 2.9% in annual terms, which is significantly worse than analysts' forecasts at 4.0%. Tankan Large All Industry Capex in Q4 2021 decreased from 10.1% to 9.3%, while the market expected 9.8%.

Support and resistance

Bollinger Bands in D1 chart demonstrate a moderate decrease. The price range is narrowing, reflecting the emergence of ambiguous dynamics of trading in the short term. MACD indicator is growing preserving a weak buy signal (located above the signal line). Stochastic, on the contrary, maintains a fairly confident downtrend and has not yet reacted to the dollar's attempt at corrective growth at the beginning of the week.

Resistance levels: 113.50, 114.00, 114.50, 115.00.
Support levels: 113.00, 112.50, 112.06.

https://c.radikal.ru/c31/2112/fd/4ee6eadce8df.png

https://a.radikal.ru/a02/2112/7a/a54ccd57c647.png

Trading tips

To open long positions, one can rely on the breakout of 114.00 with the target at 115.00. Stop-loss – 113.50. Implementation time: 2-3 days.

The breakdown of 113.00 may serve as a signal to new sales with the target at 112.06. Stop-loss – 113.50.

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.

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XAU/USD: prices decline ahead of the US Fed meeting 15.12.2021

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 near 1770.00 after a noticeable downward correction recorded the day before. Market activity remains subdued as traders await the publication of the minutes of the US Federal Reserve meeting, which as many hope, will indicate a further tightening of the US regulator's rhetoric.

The US Federal Reserve is expected to announce an early completion of the bond purchase program, potentially bringing the next year's interest rate hikes forward. Previously, it was assumed that the regulator will fully complete the quantitative easing program by June 2022, but now it may turn out that the department will have ended it by March. However, skeptics argue that the Chairman of the US Fed, Jerome Powell, began the fight against high inflation too late, and therefore the regulator's plans will be adjusted more than once.

Additional support for the dollar is provided by the statistics on manufacturing inflation released yesterday. In November, the Producer Price Index excluding Food and Energy rose 0.7%, accelerating after rising 0.4% in October.

Support and resistance

Bollinger Bands in D1 chart demonstrate a moderate decrease. The price range is narrowing, pointing at the ambiguous nature of trading in the short term. MACD is declining keeping a weak sell signal (located below the signal line). Stochastic is showing more confident "bearish" dynamics, but is rapidly approaching its lows, indicating growing risks of the instrument being oversold in the ultra-short term.

Resistance levels: 1778.32, 1790.00, 1800.00, 1812.22.
Support levels: 1760.74, 1750.44, 1740.00.

https://d.radikal.ru/d43/2112/31/02e749fde07b.png

https://c.radikal.ru/c05/2112/89/ac4efdbb2099.png

Trading tips

To open new short positions, one can rely on the breakdown of 1760.74 with the target at 1740.00. Stop-loss – 1770.00. Implementation time: 1-2 days.

The return of the "bullish" trend to the market with the breakout of 1778.32 may become a signal for new purchases with the target of 1800.00. Stop-loss – 1765.00.

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GBP/USD: the pound received a boost from the Bank of England 17.12.2021

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

The British pound is trading mixed against the US currency during the morning session, consolidating around 1.3320 amid most of the long profit taking.

The day before, the instrument showed steady growth and updated local highs from November 24, which was the market's reaction to a rather unexpected increase in rates by the Bank of England. Citing high inflation, which reached 5.1% in November on an annualized basis (after rising 4.2% in October), the regulator announced an increase in the key interest rate to 0.25%, and the decision was made almost unanimously (8 votes against 1).

Thus, the Bank of England became one of the first major central banks in the world to take this step. In addition, the British regulator decided to maintain the volume of UK government bond purchases at 875B pounds. In turn, the US Federal Reserve, which held a meeting the day before, only announced acceleration in the pace of curtailing the quantitative easing (QE) program.

Support and resistance

In the D1 chart, Bollinger Bands are reversing horizontally. 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). Stochastic keeps its upward direction but is rapidly approaching its highs, which reflects the risks of overbought GBP in the ultra-short term.

Resistance levels: 1.3350, 1.3400, 1.3450, 1.3500.
Support levels: 1.3300, 1.3250, 1.3200, 1.3159.

https://b.radikal.ru/b13/2112/50/a13dd578a37c.png

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Trading tips

To open long positions, one can rely on the breakout of 1.3350 with the target at 1.3450. Stop-loss – 1.3300. Implementation time: 2-3 days.

A rebound from 1.3350 as from resistance followed by a breakdown of 1.3300 may become a signal for new sales with the target at 1.3200. Stop-loss – 1.3350.

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USD/JPY: US dollar develops flat trading dynamics 20.12.2021

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 American currency is developing flat trading dynamics paired with the Japanese yen, consolidating near 113.50.

Market activity remains subdued, as the macroeconomic calendar at the beginning of the week is relatively empty, and market participants are gradually preparing for the winter holidays being in no hurry to open new deals. The dollar, which received an unexpected impetus to growth at the end of last week, is still quite attractive for investment: its quotes rushed up against the backdrop of the rhetoric of the US Fed's members about the beginning of a systematic tightening of monetary policy.

Earlier, the American regulator announced the acceleration of the rate of curtailment of the quantitative easing (QE) program, which will allow the Fed to enter the vector of interest rate hikes in March 2022. In general, the US Fed plans to raise its level three times next year if the situation develops according to a favorable scenario. In this regard, the Bank of Japan is inferior to the American regulator. Last Friday, Japanese officials kept interest rates at -0.1%, but also announced a cutback to the emergency funding program, noting the success of the national economic recovery.

Support and resistance

Bollinger Bands in D1 chart show weak growth. The price range is narrowing, reflecting ambiguous dynamics of trading in the short term. MACD is reversing downwards forming a new sell signal (trying to consolidate below the signal line). In addition, the indicator tests the zero level for a breakdown. In turn, Stochastic shows a more confident decline, signaling in favor of further development of the "bearish" trend in the ultra-short term.

Resistance levels: 114.00, 114.50, 115.00, 115.50.
Support levels: 113.50, 113.00, 112.50, 112.06.

https://c.radikal.ru/c13/2112/40/3e1cc3265f23.png

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Trading tips

To open long positions, one can rely on the breakout of 114.00 with the target at 115.00. Stop-loss — 113.50. Implementation time: 2-3 days.

The breakdown of 113.00 may serve as a signal to new sales with the target at 112.06. Stop-loss — 113.50.

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EUR/USD: euro shows flat trading dynamics 22.12.2021

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

Euro is showing flat dynamics against the US dollar during today's Asian session, consolidating at 1.2715 and waiting for new drivers to appear on the market.

Investor activity is rapidly declining on the eve of Christmas holidays; however, a large block of macroeconomic statistics from the USA on the dynamics of orders for durable goods and the volume of personal income and household spending is still expected to be published this week. In addition, today the United States will present updated data on GDP dynamics for Q3 2021. However, it is unlikely that the new estimates will be adjusted, and therefore they will not have a noticeable effect on the dynamics of the trading instrument.

There are noticeably fewer economic publications from Europe; however, traders are concerned about the surge in the incidence of the new Omicron coronavirus strain and the possible return of new restrictions on the eve of the holidays. The data on consumer confidence released the day before did not add optimism: the German Consumer Confidence Index from Gfk with the forecast for January showed a decrease from -1.8 to -6.8 points, which turned out to be significantly worse than analysts' forecasts at -2.5 points.

Support and resistance

Bollinger Bands on the daily chart are showing flat dynamics in a very narrow price range, indicating a further decline in trading activity in the market. MACD indicator is growing preserving a weak buy signal (located above the signal line). Stochastic is showing multidirectional dynamics being located in the middle of its area. At the moment, the indicator readings remain uninformative.

Resistance levels: 1.1300, 1.1329, 1.1359, 1.1400.
Support levels: 1.1255, 1.1220, 1.1185, 1.1153.

https://b.radikal.ru/b04/2112/1a/be6321e19d51.png

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Trading tips

To open long positions, one can rely on the breakout of 1.1300 with the target at 1.1359. Stop-loss – 1.1270. Implementation time: 2-3 days.

The breakdown of 1.1255 may serve as a signal to new sales with the target at 1.1185. Stop-loss – 1.1290.

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You can learn more about the current situation on EUR/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 AUD/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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AUD/USD: the instrument retreats from local highs 24.12.2021

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

The Australian dollar is falling, retreating from the local highs, updated the day before and testing the level of 0.7230 for a breakdown during Asian trading. On Thursday, AUD/USD showed moderate growth, continuing the development of a strong "bullish" trend in the short term and renewing the local highs of November 22.

Not the most confident macroeconomic statistics from the US put some pressure on the US dollar. In particular, investors reacted negatively to the drop in Durable Goods Orders excluding Defense by 0.1%, while experts predicted an increase in the indicator by 0.6%. In turn, the number of Initial Jobless Claims for the week ended December 10 fell from 1.867M to 1.859M, although preliminary market estimates provided for a more significant decrease to 1.82M.

Data from Australia, in turn, delighted investors: the growth in Private Sector Credit continued in November, reaching 0.9% after strengthening by 0.5% in October, and on an annualized basis, the indicator accelerated from 5.7% to 6.6 %.

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 is growing, maintaining a stable buy signal and being located above the signal line. Stochastic retains upward direction but is located near its highs, which indicates the risks of overbought AUD in the ultra-short term.

Resistance levels: 0.7250, 0.7300, 0.7328, 0.7369.
Support levels: 0.7200, 0.7160, 0.7100, 0.7050.

https://d.radikal.ru/d40/2112/eb/1483445e2699.png

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Trading tips

To open short positions, one can rely on the rebound from 0.7250 as from resistance, with the subsequent breakdown of 0.7200 with the target at 0.7100. Stop-loss – 0.7250. Implementation time: 2-3 days.

The breakout of 0.7250 may serve as a signal to new purchases with the targets at 0.7328–0.7369. Stop-loss – 0.7200.

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.

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