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GBP/USD: wave analysis 28.12.2018

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

The pair may grow.

On the 4-hour chart, the wave C of (2) developed as a wedge, within which the fifth wave v of C formed. Now the first wave of the lower level i of (i) and the correction ii of (i) have formed. If the assumption is correct, the pair will grow to the levels of 1.2932–1.3175. In this scenario, critical stop loss level is 1.2470.





Main scenario

Long positions will become relevant during the correction, above the level of 1.2470 with the targets at 1.2932–1.3175. Implementation period: 7 days and more.

Alternative scenario

The breakdown and the consolidation of the price below the level of 1.2470 will let the pair go down to the level of 1.2353.

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AUD/USD: technical analysis 31.12.2018

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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.

AUD/USD, D1

On the daily chart, the pair is trading in the lower Bollinger band. The price remains below its moving averages that are directed down. The RSI is growing, having formed a Bullish divergence with the price. The Composite is showing similar dynamics.



AUD/USD, H4

On the 4-hour chart, the pair is trading in the upper Bollinger band. The price remains below the EMA65, EMA130 and SMA200 that are directed down. The RSI is growing, having broken out its longer MA. The is showing similar dynamics.



Key levels

Support levels: 0.7015 (local lows), 0.6910 (September 2015 lows), 0.6830 (January 2016 lows).

Resistance levels: 0.7070 (local highs), 0.7100 (local highs), 0.7175 (local highs).

Trading tips

The price is testing its strong support near 0.7015. There is a chance of an upward correction.

Long positions can be opened from the level of 0.7100 with the target at 0.7175 and stop-loss at 0.7070. Validity – 3-5 days.

Short positions can be opened from the level of 0.7015 with targets at 0.6910, 0.6830 and stop-loss at 0.7070. Validity – 3-5 days.

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USD/CHF: wave analysis 02.01.2019

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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.

The probability of the pair reducing remains.

On the 4-hour chart, the downward correction of the higher level continues to develop as a wave (2), which includes the formation of the wave C of (2). At the moment, the third wave iii of C is forming, within which the wave of the lower level (iii) of iii is developing. If the assumption is right, the decline of the pair will continue to the levels of 0.9724–0.9618. The level of 0.9879 is critical and stop loss for this scenario.





Main scenario

Short positions are relevant from the corrections below level of 0.9879 with the targets at 0.9724–0.9618. Implementation time: 7 days and more.

Alternative scenario

The breakout and the consolidation of the price above the level of 0.9879 will let the pair grow to the level of 0.9963.

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NZD/USD: technical analysis 04.01.2019

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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.

NZD/USD, D1

On the daily chart, the instrument is trading at the bottom of Bollinger bands. Key support level is 0.6625. The indicator is directed downwards, and the price range has widened, confirming the downward trend. MACD histogram is in the negative zone, keeping a sell signal. Stochastic does not give a signal to enter the market.

NZD/USD, H4

On the 4-hour chart, the instrument consolidated at the top of Bollinger bands but is still testing the support level of 0.6682. The indicator is directed downwards, the price range remains quite wide, indicating a continuation of the downward trend. MACD histogram is in the negative zone, keeping a sell signal. Stochastic leaves the overbought area, forming a sell signal.

Key levels

Resistance levels: 0.6737, 0.6777, 0.6822, 0.6855, 0.6914.

Support levels: 0.6682, 0.6653, 0.6625, 0.6591, 0.6536.

Trading tips

Short positions can be opened from the current level with the target at 0.6625 and stop loss 0.6720.

Long positions can be opened above the level of 0.6740 with the target at 0.6810 and stop loss 0.6715.

Implementation period: 1–3 days.

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EUR/USD: general analysis 07.01.2019

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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

Today, amid the weakening dollar, the EUR/USD pair has grown and reached the level of 1.1421. Data from Germany was ambiguous and did not support the price: Retail Sales grew by 1.1% MoM and by 1.4% YoY, Factory Orders declined by 1.0%.

On Monday, investors will pay attention to the publication of data on retail sales in the Eurozone at 12:00 (GMT+2), which is predicted to fall to 0.2% in November from 0.3% in the previous month. In general, confirming forecasts can affect the instrument negatively. In the US, ISM Non-Manufacturing New Orders and Factory Orders data will be released at 17:00 (GMT+2). The market predicts moderate volatility.

Support and resistance

On the 4-hour chart, the pair is trading around the middle line of Bollinger bands, the indicator cloud is narrowing. MACD histogram is around the zero line, the signal line is directed upwards.

Resistance levels: 1.1429, 1.1442, 1.1458, 1.1497.

Support levels: 1.1391, 1.1337, 1.1307, 1.1268.



Trading tips

Long positions can be opened from the level of 1.1430 with the target at 1.1490 and stop loss 1.1400.

Short positions can be opened from the level of 1.1390 with the target at 1.1340 and stop loss 1.1420.

Implementation period: 1–3 days.

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USD/JPY: USD remains under pressure 10.01.2019

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

Current trend

USD showed a decline against JPY on Wednesday, leveling off growth at the beginning of the current trading week. The main reason for the emergence of "bearish" dynamics was quite cautious Fed protocols, published the day before.

Heads of the regulator pointed out the expediency of “a certain increase in the rate”, however any exact dates were not named. In addition, the protocols reflected growing uncertainty about risks in the global economy and low inflationary expectations in the United States.

In turn, JPY is under pressure from the US-China trade negotiations. The prospect of their success makes investors withdraw from the safe-haven asset and invest in other currencies. Meanwhile, Wednesday's Japanese average cash earnings data grew by 2.0%, which is the most significant indicator since last August and the World Bank raised the growth forecast for the Japanese economy in 2019 from 0.8% to 0.9%.

Support and resistance

Bollinger Bands in D1 chart demonstrate a stable decrease. The price range is actively narrowing, but still remains quite spacious for the current trend at the market. MACD is reversing downwards recovering a sell signal (located below the signal line). Stochastic shows similar dynamics, reversing downwards near the level of "80", which is a formal margin of oversold USD.

The further development of the downtrend is possible in the short and/or ultra-short term.

Resistance levels: 108.52, 109.07, 110.00, 110.45.

Support levels: 108.00, 107.47, 107.00, 106.44.





Trading tips

Long positions can be opened if the price rebounds from 107.47 followed by the breakout of 108.00. Take profit — 110.00. Stop loss — 107.30.

A breakdown of 107.47 or 107.30 may be a signal to further sales with target at 105.88 or 105.58. Stop loss — 108.00.

Implementation period: 2-3 days.

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XAG/USD: silver prices are consolidating 11.01.2019

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

Current trend

Silver prices fluctuate near 15.50, rather sharply reacting to all changes in the market.

Investors are still focused on the Shutdown, US-Chinese trade negotiations, and the Fed minutes. The meeting of Trump with the Democratic Party did not yield any results. The president left it after receiving a new refusal to finance the construction of a wall on the Mexico border. Thus, the Shutdown lasts for 19 days and may be the longest in American history against the one of 1995-1996, which lasted 21 days. Yesterday, Chinese officials commented on the trade negotiations with the US that ended on Wednesday. According to the spokesman for the Ministry of Commerce of China Gao Feng, the parties made progress, and this explains the extension of consultations by one day.

The Fed Minutes indicated that some FOMC members opposed December rate hike due to the low inflationary pressure. Officials noted that, in conditions of insufficient inflation, another tightening of monetary policy can be postponed.

Support and resistance

On the daily chart, Bollinger bands are growing. The price range is actively narrowing, indicating the ambiguous dynamics. MACD is falling, keeping a poor sell signal (the histogram is below the signal line). Stochastic is falling but at the moment it is tending to reverse flat in the center of its working area.

The development of a corrective decline is possible in the short and/or super short term.

Resistance levels: 15.66, 15.75, 15.84, 16.00.

Support levels: 15.47, 15.37, 15.24, 15.09.





Trading tips

Long positions can be opened after the breakout of 15.75 with the target at 16.00. Stop loss is 15.66.

Short positions can be opened after the breakdown of 15.47 with the targets at 15.24 or 15.15–15.09. Stop loss is 15.60.

Implementation period: 2–3 days.

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WTI Crude Oil: price is consolidating 14.01.2019

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

Current trend

After an active growth at the beginning of the year, oil prices are consolidating near the level of $50 per barrel.

"Black gold" is supported by investors' hopes for a positive outcome of China-US trade negotiations and the end of the trade conflict in the near future. In addition, quotes are rising against the background of the Norwegian Petroleum Directorate, which reported a likely reduction in production by 4.8% to 1.42 million barrels per day in 2019, which is the minimum figure for the last 30 years.

Last Friday, Baker Hughes US Oil Rig Count report affected the instrument positively. During the week, the number of rigs decreased by 4 to 873 units. Over the past period, the figure also declined from 885 to 877.

Support and resistance

On the daily chart, Bollinger bands are growing steadily. The price range narrows, reflecting the emergence of ambiguous trading dynamics in the short term. The MACD indicator is growing, keeping a buy signal (the histogram is above the signal line), and is testing the zero line but is not likely to consolidate above it. Stochastic declines, reacting to the active “bearish” dynamics of the beginning of the week.

The current readings of the indicators do not contradict the further development of the corrective decline in the short and/or super short term.

Resistance levels: 52.00, 53.19, 54.43, 55.64.

Support levels: 50.00, 49.00, 48.05, 47.00, 45.80.





Trading tips

Long positions can be opened after the rebound from the level of 50.00 with the target at 52.00 or 53.19. Stop loss is 49.00.

Short positions can be opened after the breakdown of the level of 50.00 with the target at 48.05 or 47.00. Stop loss is 51.00.

Implementation period: 2–3 days.

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 WTI Crude Oil and trade efficiently with NPBFX.
 
GBP/USD: wave analysis 16.01.2019

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.

The pair may grow.

On the 4-hour chart, a downward correction of the higher level developed as the wave (2), within which the wave C of (2) formed as a wedge. Now, the development of the third wave (3) has begun, within which the entry momentum of the lower level (i) of i of 1 of (3) has formed, and the correction (ii) of i has ended. If the assumption is correct, the pair will grow to the level of 1.3175. In this scenario, critical stop loss level is 1.2665.





Main scenario

Long positions will become relevant during the correction, above the level of 1.2665 with the target at 1.3175. Implementation period: 7 days and more.

Alternative scenario

The breakdown and the consolidation of the price below the level of 1.2665 will let the pair go down to the levels of 1.2393–1.2300.

Use more opportunities of the NPBFX analytical portal: analytics.

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

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

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