EUR/USD: inflation in the eurozone has been above the ECB's target level for three years now 02.08.2024

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

Current trend

During the Asian session, the EUR/USD pair quotes are correcting after a sharp decline the day before, as a result of which the single currency updated the local lows of July 3, and is now preparing to test 1.0800 for a breakout, while investors are in no hurry to open new trading positions ahead of the publication of the July report on the labor market. Forecasts call for a decline in the number of new jobs created by the US nonfarm sector to 175.0 thousand from 206.0 thousand and Average Hourly Earnings to 3.7% from 3.9% year-on-year, but the monthly figure is likely to show growth of the previous 0.3%, while the Unemployment Rate will remain at 4.1%. Further cooling of the labor market could become a driver for the US Federal Reserve to launch a monetary easing program. Analysts are considering a 25-basis-point cut in borrowing costs at the September meeting as the main scenario.

The data released on Wednesday did not appear to have dampened investors' expectations for a European Central Bank (ECB) interest rate cut in the autumn, but it did raise concerns about the timing of the 2.0% inflation target. In July, the Consumer Price Index rose from 2.5% to 2.6% year-on-year, while experts had expected 2.4%, and the Core CPI excluding Food and Energy was recorded at around 2.9%, with preliminary estimates of 2.8%. The fastest inflation rates are observed in Germany (up to 2.6% from 2.5% in June), France (up to 2.6% from 2.5%) and Italy (up to 1.7% from 0.9%), the lowest in Finland (0.6%). European monetary authorities have previously stressed that they expect a surge in consumer price growth before it returns to its 2.0% target in 2025. Today at 10:00 (GMT+2), European investors will pay attention only to data on the dynamics of Industrial Production: forecasts suggest a slowdown in monthly volumes in Italy from 0.5% to 0.0%, while in France, on the contrary, growth of 1.0% is expected after a sharp fall of 2.1% in June.

Market participants are also assessing the statistics on business activity dynamics presented the day before: the eurozone Manufacturing PMI rose from 45.6 points to 45.8 points in July, which turned out to be better than the neutral forecasts of analysts, and the American indicator rose from 49.5 points to 49.6 points, while the markets also did not expect any changes. At the same time, the ISM Manufacturing PMI adjusted from 48.5 points to 46.8 points, contrary to forecasts of 48.8 points.

Support and resistance

On the daily chart, Bollinger Bands are moderately declining. The price range expands from below, making way for new local lows for the "bears". MACD is declining, maintaining a strong sell signal and trying to consolidate below the zero level. Stochastic has been showing a horizontal direction near the level of "20" for some time now and has hardly reacted to the attempts of "bears" to seize the initiative.

Resistance levels: 1.0800, 1.0820, 1.0844, 1.0869.
Support levels: 1.0765, 1.0730, 1.0700, 1.0665.

Trading tips

Long positions can be opened after a breakout of 1.0820 with the target of 1.0869. Stop-loss — 1.0800. Implementation time: 1-2 days.

The return of a "bearish" trend with the breakdown of 1.0765 may become a signal for sales with the target at 1.0700. Stop-loss — 1.0800.

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Meta Platforms Inc.: technical analysis 07.08.2024

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

Shares of Meta Platforms Inc., an American transnational holding company that owns a technology conglomerate and the largest social network Facebook, are trading at 494.00.

A correction trend is forming on the daily chart, within which the price is moving in a wide ascending range of 542.00–448.00.

On the four-hour chart, the quotes have turned around at the support line of 448.00 and are developing an upward trend to the channel resistance line of 540.00 with the main obstacle at the high of 510.00.

Technical indicators maintain a sell signal: fast EMA on the Alligator indicator are close to the signal line, and the AO histogram is forming correction bars in the sell zone.

Trading tips

Long positions may be opened after the price rises and consolidates above 502.60, with the target at 540.00. Stop loss is 490.00. Implementation period: 7 days or more.

Short positions may be opened after the price falls and consolidates below 484.00, with the target at 450.00. Stop loss is 500.00.

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Johnson & Johnson: technical analysis 12.08.2024

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

The shares of Johnson & Johnson, one of the leading retail holdings, are correcting at 160.00.

On the daily chart, the price is holding above the resistance line of the ascending channel with dynamic boundaries of 157.00–145.00.

On the four-hour chart, the current decline is probably an attempt to reverse test the resistance line of the channel at 157.00, after which the growth will continue to the annual high of 165.00. A decline is possible after a consolidation below 155.00 and a return of the price into the range.

Technical indicators are holding a buy signal: the EMA oscillation range on the Alligator indicator is expanding in the direction of growth, and the AO histogram is forming correction bars above the transition level.

Trading tips

Long positions may be opened after the price grows and consolidates above 162.60, with the target at 169.50. Stop loss — 160.00. Implementation period: 7 days or more.

Short positions may be opened after the price declines and consolidates below 158.10, with the target at 152.20. Stop loss — 161.00.

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ExxonMobil Corp.: technical analysis 16.08.2024

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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 in a corrective trend near 118.00.

On the daily chart, the price is moving in an ascending channel of 123.00–116.00, approaching the resistance line.

On the four-hour chart, the growth potential prevails. After a consolidation above the high of last week at 120.00, the price may renew the year’s high of 125.00. To implement this scenario, the asset needs to stay above the resistance line of the channel at 123.00 since in the event of a reversal and decline, the range can work as a Flag pattern, strengthening the downward momentum.

Technical indicators maintain a buy signal: fast EMA on the Alligator indicator crossed the signal line upwards, and the AO histogram forms ascending bars above the transition level.

Trading tips

Long positions may be opened after the price rises and consolidates above 120.00, with the target at 126.00. Stop loss is 117.00. Implementation period: 7 days or more.

Short positions may be opened after the price falls and consolidates below 117.00, with the target at 111.00. Stop loss is 120.00.

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Nvidia Corp.: technical analysis 21.08.2024

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

The quotes of Nvidia Corp., an American developer of video graphics processors, are trading in a correction trend at 127.00.

On the daily chart, the price consolidates significantly above the resistance line of the downward channel with boundaries of 115.00–83.00.

On the four-hour chart, the prospects for strengthening the positive dynamics are quite high, and approaching the high of 133.00 can significantly accelerate its pace. The only obstacle is the year’s high of 137.00, consolidation above which will become a catalyst for reaching the target of 200.00.

Technical indicators are holding the buy signal: fast EMA on the Alligator indicator are moving away from the signal line, leaving the oscillation range stably wide, and the histogram of the AO oscillator is forming new correction bars, consolidation significantly above the transition level.

Trading tips

Long positions may be opened after the price consolidates above the resistance level of 131.30, with the target at 149.00. Stop loss — 122.00. Implementation period: 7 days or more.

Short positions may be opened after the price consolidates below the support level of 123.60, with the target at 106.60. Stop loss — 130.00.

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Walmart Inc.: technical analysis 26.08.2024

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

Shares of Walmart Inc., an American company that manages the largest network of wholesale and retail trade, are correcting at 76.00.

On the daily chart, the price is moving in an upward trend, holding above the resistance line of the channel with dynamic boundaries of 75.00–68.00.

On the four-hour chart, the quotes left the range with a price gap of 74.13–68.45 and are not currently trying to work it out. The likelihood of further growth will increase after the asset consolidates above the year’s high of 76.10.

Technical indicators maintain a stable buy signal: fast EMAs on the Alligator indicator are above the signal line, moving away from it, and the AO histogram forms high ascending bars in the buy zone.

Trading tips

Long positions may be opened after the price rises and consolidates above 76.10, with the target at 79.50. Stop loss is 75.00. Implementation period: 7 days or more.

Short positions may be opened after the price falls and consolidates below 74.80, with the target at 72.40. Stop loss is 76.00.

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You can learn more about the current situation 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 GBP/USD, EUR/USD, USD/CHF, AUD/USD. In order to get free and unlimited access to video forecast and other useful instruments on the portal, you need to register on the NPBFX website.

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Johnson & Johnson: technical analysis 30.08.2024

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

The shares of Johnson & Johnson, one of the leading retail holdings, are correcting at 164.00.

On the daily chart, the price is holding above the resistance line of the ascending channel with dynamic boundaries of 157.00–145.00, preparing to continue growing.

On the four-hour chart, the quotes have almost reached the annual high of 165.00, and after consolidation above it, growth may continue to 175.00. The probability of a decline may develop only if the asset consolidates below 162.00.

Technical indicators maintain a buy signal: the EMA fluctuation range on the Alligator indicator is expanding in the direction of growth, and the AO histogram is forming correction bars above the transition level.

Trading tips

Long positions may be opened after the price grows and consolidates above 165.60, with the target at 175.00. Stop loss — 162.00. Implementation period: 7 days or more.

Short positions may be opened after the price declines and consolidates below 162.50, with the target at 154.20. Stop loss — 165.00.

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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 Johnson & Johnson and trade efficiently with NPBFX.

USD/CHF: the Q2 Swiss economy grew at the fastest pace in two years 04.09.2024

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

Current trend

During the Asian session, the USD/CHF pair is testing 0.8480 for a breakdown, developing the “bearish” momentum formed yesterday, when the dollar retreated from the highs of August 23.

On Monday, US trading floors were closed for Labor Day, and investors focused on macroeconomic statistics from Switzerland. The July real retail sales increased from –2.6% to 2.7%, compared to forecasts of –0.2%. In the manufacturing sector, growth was recorded by 2.6% QoQ in the last quarter, and in construction – by 0.1%. However, the decline in the retail segment was 0.4% after two-quarter positive dynamics. Consumer spending rose 0.3%, and government spending rose 0.2% in April-June, while exports fell 5.0% and imports fell 13.8%. The August business activity index rose to 49.0 from 43.5, beating the preliminary estimate of 44.0. Investors yesterday noted the increase in the Q2 Swiss gross domestic product (GDP), from 0.5% to 0.7% QoQ and from 0.6% to 1.8% YoY. In addition, the August consumer price index slowed from 1.3% to 1.1% YoY and was 0.0% MoM. The slowdown in inflation has increased pressure on Swiss National Bank officials to adjust the interest rate further, which was changed by –25 basis points at its meeting on June 20.

At the end of the week, experts expect the publication of the final US labor market report for August. According to preliminary estimates, nonfarm payrolls will change from 114.0K to 160.0K, the average hourly wage – from 0.2% to 0.3% MoM and from 3.6% to 3.7% YoY, and the unemployment rate – from 4.3% to 4.2%.

Support and resistance

On the daily chart, Bollinger bands are steadily declining. The price range is narrowing, reflecting the emergence of ambiguous trading dynamics in the short term. The MACD indicator is growing, maintaining a poor buy signal (the histogram is above the signal line). Stochastic, having retreated from the highs, is reversing into a downward plane, indicating that the US dollar may become overbought in the ultra-short term.

Resistance levels: 0.8500, 0.8559, 0.8600, 0.8630.
Support levels: 0.8450, 0.8400, 0.8365, 0.8331.

Trading tips

Short positions may be opened after a breakdown of 0.8450, with the target at 0.8365. Stop loss — 0.8500. Implementation period: 1–2 days.

Long positions may be opened after a rebound from 0.8450 a breakout of 0.8500, with the target at 0.8600. Stop loss — 0.8450.

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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.

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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McDonald’s Corp.: technical analysis 09.09.2024

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

Shares of McDonald’s Corp., the largest fast food chain, are correcting in a local trend at 289.00.

On the daily chart, the price is retreating from the resistance line of the downwards channel 258.00–243.00, approaching annual highs.

On the four-hour chart, today there may be the first accentuated attempt to test the local high of 292.00. The probability of breakout the level is much higher than the decline. However, in case of a reversal, a correction to the support level of 270.00 is possible.

Technical indicators maintain a buy position: fast EMA on the Alligator indicator are above the signal line, and the AO histogram forms correction bars above the transition level.

Trading tips

Long positions may be opened after the price rises and consolidates above 292.00, with the target at 301.00. Stop loss is 286.00. Implementation period: 7 days or more.

Short positions may be opened after the price declines and consolidates below 285.00, with the target at 275.00. Stop loss — 290.00.

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

You can learn more about the current situation 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 GBP/USD, EUR/USD, USD/CHF, AUD/USD. In order to get free and unlimited access to video forecast and other useful instruments on the portal, you need to register on the NPBFX website.

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

Use the current recommendations of analysts on McDonald’s Corp. and trade efficiently with NPBFX.