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[Antony_NPBFX]

NZD/USD: the pair is showing neutrality 28.10.2020

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 NZD/USD pair is showing neutral dynamics, trading near the level of 0.6710.

Yesterday the Bureau of Economic Statistics of New Zealand released international trade data. Exports for September amounted to $4.01 billion, and imports reached $5.02 billion. It negatively affected the monthly balance, which entered the negative zone and amounted to –$1.017 billion, which is significantly worse than the August indicator of –$282 million.

USD remains under pressure. On Tuesday, October the CB consumer confidence index was released, which fell to 100.9 against the forecast of 102.0. However, the main threat comes from the protests that have begun in Washington. Citizens, dissatisfied with the actions of law enforcement officers, gathered near a police station in the north of the capital. The experience of summer stocks suggests that the risks of a significant conflict are quite high; therefore, the prospects for the growth of the US dollar are doubtful.

Support and resistance

The price reached the resistance line of the local ascending channel, which coincides with the support of the global channel, which the price left in September. Technical indicators are in a buy state, which indicates a high probability of the instrument returning to the global channel. Alligator indicator’s EMA fluctuations range is directed upwards, and the histogram of the AO oscillator trades in the positive zone.

Resistance levels: 0.6753, 0.6900.
Support levels: 0.6656, 0.6522.

Trading tips

After growth or consolidation above the local resistance line around 0.6753, buy positions with a target around 0.6900 are relevant. Stop loss is 0.6700. Implementation period: 7 days or more.

After decline and reversal or consolidation below the local support at 0.6656, sell positions with the target at 0.6522 are relevant. Stop loss is 0.6700.

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 NZD/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

Who won $1000 and iPhone 11 Pro in September’s Battle of Traders? Let’s sum it up

New stage of the Battle of Traders contest completed. Let’s see main figures of the contest, new records submitted and announce the winners' trading results!

Last mont, the contest brought together 2303 traders – 26% more than last year September’s contest. However, just like a year ago, traders were united by the spirit of the competition and the desire to win money from the $2,500 prize pool for trading on real account, as well as a super prize - iPhone 11 Pro. The analysis of participants' statements showed a wide variety of used trading strategies – scalping, EA trading on contest STP-accounts, trades were opened both on daily timeframes and expected to be closed within 5-10 days. The owners of some accounts preferred to work mainly with indices and metals. Dozens of statements of September contest show traditional currency pairs’ trading.

Unique "mono" accounts also participated in the contest – for example, a trader with the nickname star321 (account number - 205218) traded only EURUSD. Moreover, trading this currency pair provided him with success and one of the top ten places in rating (5th place).

Let's move on to a small selection of record figures: the largest number of transactions opened by a trader under the nickname BenGold (account number - 205714), the number of transactions on his account reached 21898. However, unfortunately, this fact did not secure him a place in the top 10 of the competition. The trader in 86th place under the nickname luchyna (account number - 205387) was the most successful among the traders who opened the minimum number of transactions. This trader opened just one trade on USDJPY, and it brought $6057 profit. With such a profitability, it is quite possible that in one of the next stages of the competition, the trader will become a prize-winner, having completed only the minimum volume of 10 transactions under the terms of the Battle of traders.

Traders used their chance to win in different ways. Who finally entered the top-ten in September and showed the most effective trading on demo account?

The main prize - $1000 and iPhone 11 Pro-is awarded to a trader with the nickname HUSEYNALI. The trader achieved an impressive trading result: $311632.79. It is worth noting, that for this result, he needed only 37 transactions! Trader reached the highest profit with transaction on NASDAQ100 index - $59656.80.

NPBFX expresses gratitude to all participants of the contest and congratulates the winners!

You do not need to have a start-up capital and risk your own funds to participate in the competition. The contest is held monthly on demo accounts of NPBFX and everyone can participate!

Sign up for the Battle of Traders right now.

 

[Antony_NPBFX]

Brent Crude Oil: oil prices decline 02.11.2020

Good afternoon, dear forum visitors!

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

Current trend

Today during the Asian session, oil prices are trading ambiguously, renewing record lows since May 29. The reason for the next wave of sales remains the further deterioration of the epidemiological situation in the world. Since Monday, quarantine has been announced in Germany, so the EU economy may contract noticeably at the end of the year. German Chancellor Angela Merkel announced an additional package of economic support of 10 billion euros but only according to preliminary estimates, according to the results of the "quarantine month", the German economy will lose more than 19 billion euros.

This week, the main source of uncertainty will be the US presidential election on Tuesday, November 3. In particular, investors are concerned that the possible victory of Joe Biden in the presidential race will lead to a weakening of sanctions against Iran, and cheap Iranian oil will return to the market after the Libyan one.

Support and resistance

On the daily chart, Bollinger bands moderately decline. The price range actively expands but not as fast as the “bearish” moods develop. MACD falls, maintaining a strong sell signal (the histogram is below the signal line). Stochastic reached its lows and reversed horizontally, indicating that the instrument is strongly oversold in the super short term.

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

Resistance levels: 36.59, 38.00, 39.00, 40.00.

Support levels: 35.41, 34.22, 33.21.

Trading tips

Long positions may be opened after the rebound from 35.41 and the breakout of 36.59 with the target at 39.00. Stop loss – 35.41. Implementation period: 2–3 days.

Short positions may be opened after the breakdown of 35.41 with the target at 33.21. Stop loss – 36.59.

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

How can a trader determine if it’s worth buying or selling Brent Crude Oil now or better waiting for a more favorable period? Use trading signals for commodities from the top 10 technical indicators on the NPBFX portal and make the right decisions! All registered users have free and unlimited access to the minutely updated trading signals (MA10, BBands, Ichimoku, Stochastic, ZigZag, etc.) for Gold, Silver, Brent and WTI Crude oil.

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 Brent Crude Oil and trade efficiently with NPBFX.

 

[Antony_NPBFX]

EUR/USD: EUR remains under pressure 04.11.2020

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 declines actively against USD today, leveling out attempts at corrective growth the day before. The dynamics of trading remains very uneven, due to the tension around the vote count in the US presidential election. Opinion polls continue to point to Democratic leadership, but everyone remembers the 2016 scenario, when real results easily disproved most predictions.

Uncertainty on the market is also added by the remaining complex epidemiological situation, which is forcing countries to return extremely unpopular measures to restrict the movement of citizens. For many small businesses, surviving the second wave of lockdown will be daunting.

Today, European investors are focused on business activity statistics in the euro area. In addition, today a meeting of the Economic and Financial Affairs Council will be held, where prospects for additional support for the region's economy may be discussed.

Support and resistance

Bollinger Bands in D1 chart demonstrate weak decrease. The price range widens slightly from below, reflecting the continued "bearish" momentum after a strong decline in the instrument last week. MACD is declining keeping a weak sell signal (located below the signal line). Stochastic, on the contrary, points at the development of the corrective growth of the instrument in the nearest time intervals and is still weakly reacting to the renewed decline in the trading of today's morning session.

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

Resistance levels: 1.1700, 1.1732, 1.1763, 1.1800.
Support levels: 1.1657, 1.1625, 1.1600, 1.1550.

Trading tips

The breakdown of 1.1625 may serve as a signal to new sales with the target at 1.1550. Stop-loss – 1.1670. Implementation time: 2-3 days.

To open long positions, one can rely on the breakout of 1.1700. Take-profit – 1.1763. Stop-loss – 1.1670.

Use more opportunities of the NPBFX analytical portal: economic indicators

Regular monitoring of global economic indicators plays an important role in trading, because of their strong influence on FOREX market and possibility to provoke significant price fluctuations. For the convenience of traders the "Education" section on the NPBFX portal contains the most popular and significant world economic indices with a detailed description, their possible impact on the economy and exchange rates (GDP, consumer price index, unemployment rate, Nonfarm Payrolls (NFP), etc.).

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.

 

[Antony_NPBFX]

Brent Crude Oil: oil is weakening 06.11.2020

Good afternoon, dear forum visitors!

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

Current trend

Oil prices began to decline again, dropping to $39.50 per barrel.

EIA data on oil reserves confirmed OPEC's negative scenario. The indicator fell by 7.998 million barrels against the background of the expected increase in reserves by 0.890 million. These data did not have a positive effect on the instrument. On the contrary, investors began to expect with even greater concern the data correction next week. Yesterday, Saudi Aramco said it would cut its December selling prices for Asian buyers. The company decided to take such a step due to a decrease in demand for the company's products under the influence of the second wave of the COVID-19 pandemic.

It is becoming more and more obvious that at the OPEC meeting to be held in mid-November, the main issue will be a new cut in production volumes, which the Russian Federation is actively opposing so far.

Support and resistance

On the local chart, the price moves within the local Expanding formation pattern, within which it approaches the resistance line. Technical indicators are in the state of a sell signal but are starting to slow down. The range of fluctuations of the EMA indicator Alligator begins to narrow, and the histogram of the AO oscillator is approaching the buy zone.

Resistance levels: 41.10, 43.50.
Support levels: 38.90, 35.30.

Trading tips

After reversal and growth or consolidation above the local resistance level at 41.10, buy positions with the target at 43.50 are relevant. Stop loss is 40.00, below the support level. Implementation period: 7 days or more.

After decline or consolidation below the local support level at 38.90, it is relevant to open sell positions with the target at 35.30. Stop loss is 40.00.

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

How can a trader determine if it’s worth buying or selling Brent Crude Oil now or better waiting for a more favorable period? Use trading signals for commodities from the top 10 technical indicators on the NPBFX portal and make the right decisions! All registered users have free and unlimited access to the minutely updated trading signals (MA10, BBands, Ichimoku, Stochastic, ZigZag, etc.) for Gold, Silver, Brent and WTI Crude oil.

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 Brent Crude Oil and trade efficiently with NPBFX.

 

[Antony_NPBFX]

AUD/USD: USD is declining 09.11.2020

Good afternoon, dear forum visitors!

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

Current trend

AUD is moderately strengthening against USD during today's Asian session, trading at new local highs since September 21. The instrument is supported by weak positions on USD, which remains under pressure from the results of the US presidential race. According to preliminary results, Democrat Joe Biden is likely to become the new US President, which will entail a sharp increase in economic stimulus and the repeal of a number of controversial laws passed under Donald Trump's administration.

Friday's macroeconomic statistics from the USA provided moderate support to USD. Nonfarm Payrolls rose by 638K in October after increasing by 672K in the previous month. Experts expected the growth by 600K only. At the same time, the Unemployment Rate in October fell sharply from 7.9% to 6.9%, which turned out to be significantly better than the forecasts of a decrease only to 7.7%.

Support and resistance

Bollinger Bands in D1 chart show moderate growth. The price range is expanding, but it fails to catch the development of the uptrend in the nearest future. MACD indicator is growing preserving a stable buy signal (located above the signal line). Stochastic, having shown an attempt to reverse into a horizontal plane at the end of the last trading week, returned to growth again, approaching the level of "100" and indicating a strongly overbought AUD in the nearest time intervals.

Resistance levels: 0.7300, 0.7323, 0.7360, 0.7400.
Support levels: 0.7274, 0.7241, 0.7200, 0.7170.

Trading tips

To open long positions, one can rely on the breakout of 0.7300 or 0.7323 with the target at 0.7400. Stop-loss – 0.7250. Implementation time: 2-3 days.

A rebound from 0.7300 as from resistance followed by a breakdown of 0.7274 may become a signal for new sales with the target at 0.7200. Stop-loss – 0.7323.

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/JPY, 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 AUD/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

XAU/USD: gold is recovering

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 continue their recovery growth during today's Asian session, approaching 1900.00. The emergence of the uptrend for the instrument is facilitated by technical factors, while fundamentally the market situation changes little. The pressure on "safe" gold is coming from the upbeat news of a COVID-19 vaccine trial from Pfizer and BioNTech. According to the vaccine developer, an active vaccination campaign can be launched as early as next year, but the question is still open whether the resulting immunity will last for a long time and what side risks exist. In addition, it seems that the situation with the approval of a new package of financial stimulus for the American economy is complicated again, this time by Donald Trump's desire to challenge the preliminary results of the US presidential election.

Support and resistance

In the D1 chart, Bollinger Bands are reversing horizontally. The price range is expanded from below reflecting a remaining "bearish" impulse in the short term. MACD is going down keeping a fairly stable sell signal (located below the signal line). The indicator is trying to consolidate below the zero level. Stochastic is showing similar dynamics; however, the indicator line is rapidly approaching its lows, indicating the risks of oversold instrument in the ultra-short term.

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

Resistance levels: 1890.18, 1900.00, 1910.00, 1920.82.
Support levels: 1872.80, 1859.87, 1850.00, 1830.00.

Trading tips

To open long positions, one can rely on the breakout of 1890.18. Take-profit – 1910.00–1920.82. Stop-loss – 1875.00. Implementation time: 2-3 days.

The breakdown of 1872.80 may serve as a signal to new sales with the target at 1850.00. Stop-loss – 1885.00.

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

How can a trader determine if it’s worth buying or selling XAU/USD now or better waiting for a more favorable period? Use trading signals for commodities from the top 10 technical indicators on the NPBFX portal and make the right decisions! All registered users have free and unlimited access to the minutely updated trading signals (MA10, BBands, Ichimoku, Stochastic, ZigZag, etc.) for Gold, Silver, Brent and WTI Crude oil.

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 XAU/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

GBP/USD: the pair declines 13.11.2020

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 GBP/USD pair moves within the downward trend, trading around 1.3122.

GBP is decreasing under the influence of negative macroeconomic reports released yesterday. Q3 GDP was higher than –19.8% over the previous period and amounted to 15.5% but fell short of analysts' expectations at 15.8%. Annual GDP also was below the forecast of –9.4% and amounted to –9.6%. Manufacturing output reached 0.2% in September, down from 0.9% in August. The level of industrial production was 0.5%, which is worse than the forecast of 0.8%.

The US dollar continues to moderately recover, and the USD Index is around 93.000. The currency was supported by data on the number of initial claims for unemployment benefits, which amounted to 709K instead of 735K expected. However, the situation remains rather tense due to the recount of votes in some states, which began after the appeal of a huge number of citizens dissatisfied with the results of the presidential election.

Support and resistance

Globally, the instrument is moving within a wide ascending channel, being near the support line within the local flag pattern. Indicators keep a buy signal. Fast EMAs on the Alligator indicator are above the signal one, and the AO oscillator histogram is trading in the buy zone.

Resistance levels: 1.3170, 1.3310.
Support levels: 1.2970, 1.2710.

Trading tips

After reversal and growth or consolidation above the local resistance around 1.3170, buy positions with the target at 1.3310 are relevant. Stop loss is 1.3100. Implementation period: 7 days or more.

After decline or consolidation below the support line of the global channel at 1.2970, it is relevant to open sell positions with the target at 1.2710. Stop loss – 1.3050.

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 GBP/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

USD/CHF: the pair corrects downward 16.11.2020

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

USD/CHF is correcting downwards, trading at 0.9122.

The franc is strengthening against the US dollar but looks rather poor against other world currencies. One of the reasons for the dynamics is the deteriorating macroeconomic statistics. The producer price index for October amounted to 0.0% MoM, decreasing from 0.1% MoM and –2.9% YoY.

Since the beginning of trading, the dollar has been under strong pressure, and the USD Index has been declining, reaching the level of 92.580. There are two main reasons for such dynamics. First, U.S. health care is facing the worst COVID-19 pandemic ever. The number of new cases detected per day continues to set records and, as of Saturday, amounted to 192,583 people. The second reason is related to the extremely low index of consumer expectations from the University of Michigan, which fell from 79.2 in October to 71.3 in November, and also the consumer sentiment index, which dropped from 81.8 to 77.0.

Support and resistance

The asset is moving within a wide sideways channel, correcting downward after a significant increase. Locally, the technical indicators are ready to give a sell signal. Fast EMAs of the Alligator indicator crossed with the signal one, and the histogram of the AO oscillator came close to the transition level.

Resistance levels: 0.9150, 0.9200.
Support levels: 0.9090, 0.8986.

Trading tips

After decline or consolidation below the local support level at 0.9090, it is relevant to open sell positions with the target at 0.8986. Stop loss is around 0.9140. Implementation period: 5 days.

After a reversal and growth or consolidation above the local resistance level at 0.9150, buy positions with the target at 0.9200 will be relevant. Stop loss is around 0.9120.

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You can read a Beginner's guide to FOREX Trading online or download it free of charge from the NPBFX analytical portal in the "Education" section. In order to get unlimited access to the E-book and other useful instruments on the portal, you need to register on the NPBFX website.

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

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

 

[Antony_NPBFX]

XAU/USD: gold prices are consolidating 18.11.2020

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 show flat trading dynamics during today's Asian session, consolidating at 1880.00. The day before, the instrument fell slightly in response to optimistic news regarding the development of a vaccine against coronavirus. In turn, investors remain concerned about significant geopolitical risks in the USA, where the process of transferring power is noticeably complicated by Donald Trump's reluctance to admit defeat in the presidential election. However, the electoral vote is still ahead, and therefore it is somewhat premature to draw any conclusions.

Additional pressure on USD positions on Tuesday was exerted by the statistics on Retail Sales in the USA, which showed a more moderate growth than expected. Moreover, sales may show an even greater decline in the future due to the spread of the coronavirus and the emergence of new restrictions.

Support and resistance

Bollinger Bands in D1 chart demonstrate flat dynamics. The price range is almost unchanged, but it remains rather spacious for the current level of activity in the market. MACD is declining keeping a weak sell signal (located below the signal line). Stochastic, on the other hand, maintains a fairly confident upward direction, reflecting the "bullish" potential in the ultra-short term.

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

Resistance levels: 1890.18, 1900.00, 1910.00, 1920.82.
Support levels: 1872.80, 1859.87, 1850.00.

Trading tips

To open new short positions, one can rely on the breakdown of 1872.80. Take-profit – 1850.00. Stop-loss – 1885.00. Implementation time: 1-2 days.

A rebound from 1872.80 as from support followed by a breakout of 1890.18 may become a signal for new purchases with the target at 1910.00. Stop-loss – 1880.00.

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

How can a trader determine if it’s worth buying or selling XAU/USD now or better waiting for a more favorable period? Use trading signals for commodities from the top 10 technical indicators on the NPBFX portal and make the right decisions! All registered users have free and unlimited access to the minutely updated trading signals (MA10, BBands, Ichimoku, Stochastic, ZigZag, etc.) for Gold, Silver, Brent and WTI Crude oil.

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 XAU/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

GBP/USD: the instrument is consolidating 20.11.2020

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 is trading weakly upward against USD, holding close to local highs since September 4. The day before, the instrument showed an uncertain decline; however, USD was again under pressure after the publication of statistics on jobless claims. For the week ending November 13, the number of Initial Jobless Claims grew from 711K to 742K, while analysts expected a decrease to 707K. On the other hand, the number of Continuing Jobless Claims showed a steady decline. During the week ending November 6, their number fell from 6.801M to 6.372M, while the forecast was 6.47M.

Today British investors expect the release of October retail sales statistics, which, however, is also unlikely to provide significant support to the instrument.

Support and resistance

Bollinger Bands in D1 chart show active growth. The price range is narrowing from below, 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, approaching the level of "80", reversed into a horizontal plane, signaling risks associated with overbought GBP in the ultra-short term.

A full-fledged correctional decline is possible in the short and/or ultra-short term.

Resistance levels: 1.3311, 1.3400, 1.3481.
Support levels: 1.3250, 1.3200, 1.3175, 1.3125.

Trading tips

To open short positions, one can rely on the rebound from 1.3311 as from resistance, with the subsequent breakdown of 1.3250. Take-profit – 1.3125. Stop-loss – 1.3311. Implementation time: 2-3 days.

The breakout of 1.3311 may serve as a signal to new purchases with the target at 1.3400. Stop-loss – 1.3250.

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.

 

[Antony_NPBFX]

EUR/USD: EUR is strengthening 23.11.2020

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 climbing again against USD during today's Asian session, recovering from a slight decline last Friday, which was triggered by the emergence of corrective sentiment in the market. USD positions remain under pressure, as the fundamental picture has changed slightly recently. Investors are concerned about the deteriorating epidemiological situation in the USA, which may eventually lead to additional budget spending and new restrictive measures, which have been diligently avoided by Donald Trump's administration.

However, investors pin their main hopes on the development of a vaccine against coronavirus. Unverified information appears in the media that vaccination of Americans may begin as early as December. Today, traders are focused on the publication of statistics on business activity in the euro area (Germany and France separately) for November. The indices in the manufacturing and services sector are expected to decline, which will be the projected response to restrictive measures in many EU countries.

Support and resistance

Bollinger Bands in D1 chart show moderate growth. The price range is actively narrowing, pointing at the flat nature of trading in the short term. MACD indicator is growing preserving a weak buy signal (located above the signal line). Stochastic, having retreated from the level of "80", reversed into a horizontal plane, indicating fragile balance of power in the ultra-short term.

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

Resistance levels: 1.1892, 1.1918, 1.1964, 1.2000.
Support levels: 1.1850, 1.1800, 1.1763.

Trading tips

To open long positions, one can rely on the breakout of 1.1892. Take-profit – 1.2000. Stop-loss – 1.1835. Implementation time: 2-3 days.

A rebound from 1.1892 as from resistance followed by a breakdown of 1.1850 may become a signal for new sales with the target at 1.1763. Stop-loss – 1.1900.

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 EUR/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

EUR/USD: the pair grows 25.11.2020

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 EUR/USD pair is moving within an uptrend, trading around the level of 1.1900.

EUR is strengthening against its major competitors. Yesterday, statistics from Germany significantly supported the rate. German Q3 GDP was –3.9% YoY against expectations of –4.1% and climbed to 8.5% QoQ against the expected 8.2%. The indicator for assessing the current situation for November amounted to 90.0 points, which is better than the forecast of 87.0 points. The business climate index from IFO for the same period amounted to 90.7 points against 90.1 expected.

The second reason for the strengthening of the instrument was another USD drop. The dollar has lost more than 0.500 points and is currently trading around 92.000. One of the reasons for the decline was the unexpectedly poor data on the consumer confidence index for November, which dropped below 100 points and amounted to 96.1 points. Also, the situation with COVID-19 also exerts negative pressure: more than 200K new cases of infection are registered daily.

Support and resistance

Globally, the correction develops within a wide sideways channel, and the price approaches the resistance line. Technical indicators keep a buy signal. Fast EMAs on the Alligator indicator are above the signal one, and the AO oscillator histogram is kept in the buy zone.

Resistance levels: 1.1940, 1.2100.
Support levels: 1.1830, 1.1620.

Trading tips

After growth or consolidation above the global resistance around 1.1940, buy positions with the target around 1.2100 are relevant. Stop loss is 1.1890. Implementation period: 7 days or more.

After decline and reversal or consolidation below the local support at 1.1830, sell positions with the target at 1.1620 are relevant. Stop loss is 1.1900, above the local resistance.

Use more opportunities of the NPBFX analytical portal: economic indicators

Regular monitoring of global economic indicators plays an important role in trading, because of their strong influence on FOREX market and possibility to provoke significant price fluctuations. For the convenience of traders the "Education" section on the NPBFX portal contains the most popular and significant world economic indices with a detailed description, their possible impact on the economy and exchange rates (GDP, consumer price index, unemployment rate, Nonfarm Payrolls (NFP), etc.).

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.

 

[Antony_NPBFX]

USD/CHF: USD remains under pressure 27.11.2020

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

USD is trading ambiguously against CHF during today's Asian session, consolidating near the strong support at 0.9000. USD remains under pressure amid improving prospects for the global economic recovery, as well as the beginning of the transfer of power in the US, where Donald Trump announced that he would step down from the presidency if the electors vote for Joe Biden. In addition, analysts are actively discussing the appointment of former Fed Chair Janet Yellen to the post of US Treasury Secretary. Yellen is expected to advocate further easing of monetary policy and help the process of introducing new stimulus measures for the US economy.

Macroeconomic statistics from Switzerland provided moderate support to CHF yesterday. Employment Level in Q3 2020 increased from 5.095M to 5.138M, which turned out to be better than the average forecasts of analysts.

Support and resistance

Bollinger Bands in D1 chart demonstrate a moderate decrease. The price range is actively expanding from below, but it fails to catch the surge of "bearish" sentiment at the moment. MACD is going down keeping a fairly stable sell signal (located below the signal line). Stochastic retains stable downward direction but is located in close proximity to the zero level, which indicates the risks of oversold USD in the ultra-short term.

Current showings of the indicators do not contradict the further development of the "bearish" trend in the short term.

Resistance levels: 0.9074, 0.9100, 0.9126, 0.9155.
Support levels: 0.9050, 0.9028, 0.9000, 0.8960.

Trading tips

The breakdown of 0.9050 may serve as a signal to new sales with the target at 0.9000. Stop-loss – 0.9080. Implementation time: 1-2 days.

To open long positions, one can rely on the rebound from the support level of 0.9050 with the subsequent breakout of 0.9074. Take-profit – 0.9126. Stop-loss – 0.9040.

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/JPY, 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 USD/CHF and trade efficiently with NPBFX.

 

[Antony_NPBFX]

AUD/USD: the pair continues to grow 30.11.2020

Good afternoon, dear forum visitors!

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

Current trend

AUD continues to rise moderately against USD, staying at 0.7387, but the uptrend for the instrument is not as strong as compared to other major currencies. The trade confrontation between Australia and China continues to gain momentum. About a month ago, Australia called for an investigation into the causes of COVID-19 in China. In response, the PRC imposed restrictions on the import of Australian goods: wheat, cotton, lobsters, timber, and barley. In addition, the day before, China said that it also restricts the import of Australian wine, being its main importer. Due to this restriction, Australia's exports will lose about AUD 1.3B.

USD continues to be in a downtrend, having started trading at 91.700. The last time the USD Index was so low was in April 2018. The absolute low over the past 6 years is at 89.000, which does not seem so unattainable in the current environment.

Support and resistance

On the global chart, the price continues to move within a wide sideways channel and may overcome the global high of the year at 0.7412 in today's trading. Technical indicators are in a state of purchase. The range of EMA fluctuations on the Alligator indicator continues to expand, and the histogram of the AO oscillator is trading in the positive zone.

Resistance levels: 0.7412, 0.7650.
Support levels: 0.7310, 0.7010.

Trading tips

If the asset continues growing globally and the price consolidates above the global high at 0.7412, long positions will be relevant with target at 0.7650. Stop-loss – 0.7350. Implementation time: 7 days and more.

If the asset reverses and declines and the price consolidates below the local support at 0.7310, short positions can be opened with the target at 0.7010. Stop-loss – 0.7400.

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 AUD/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

USD/JPY: USD is strengthening 02.12.2020

Good afternoon, dear forum visitors!

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

Current trend

USD is showing moderate gains against JPY during today's morning trading session, building on an uncertain "bullish" momentum formed earlier this week. The instrument adds about 0.13% and is about to test the level of 104.50 for a breakout.

The macroeconomic statistics from the US published yesterday did not provide almost any support to USD. ISM Manufacturing PMI in November showed a decrease from 59.3 to 57.5 points, which was worse than the forecasts of a fall to 58 points. At the same time, ISM Manufacturing Employment Index for the same period fell below the psychological level of 50 points to 48.4 points.

Wednesday's macroeconomic statistics provide moderate support to JPY. Investors reacted positively to the growth of the Consumer Confidence Index in November from 33.6 to 33.7 points, while the forecasts assumed its decline to 29 points.

Support and resistance

Bollinger Bands in D1 chart demonstrate a moderate decrease. The price range is narrowing, reflecting flat nature of trading in the short term. MACD indicator is growing preserving a weak buy signal (located above the signal line). Stochastic has reversed upwards again after a moderate decline at the end of last week, signaling in favor of a recovery in USD in the ultra-short term.

Current indications do not contradict further growth of the instrument in the near future.

Resistance levels: 104.50, 104.75, 105.00, 105.33.
Support levels: 104.20, 104.00, 103.64, 103.35.

Trading tips

To open long positions, one can rely on the breakout of 104.50. Take-profit – 105.00. Stop-loss – 104.20. Implementation time: 1-2 days.

A rebound from 104.50 as from resistance followed by a breakdown of 104.20 may become a signal for new sales with the target at 103.64. Stop-loss – 104.50.

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.

 

[Antony_NPBFX]

GBP/USD: GBP resumes growth 04.12.2020

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 shows a slight increase in trading this morning session, maintaining the "bullish" momentum, which again intensified the day before, when the markets reacted to the progress in the issue of fiscal stimulus for the US economy. In addition, the general optimism is transmitted to the expectation of a Brexit trade agreement between the UK and the EU. However, the latest comments from officials are somewhat alarming, given that there is very little time left until the end of the year.

Thursday's macroeconomic statistics from the UK provided moderate support to the instrument. Markit Services PMI in November increased from 45.8 to 47.6 points, while analysts did not expect any changes at all.

Investors are focused on the November statistics on the US labor market today. In particular, the US economy is expected to show a sharp slowdown in job creation, but at the same time will be characterized by a decline in the Unemployment Rate to 6.8%

Support and resistance

Bollinger Bands in D1 chart show moderate growth. The price range is expanding insignificantly, reflecting the ambiguous nature of trading this week. MACD indicator is growing preserving a weak buy signal (located above the signal line). Stochastic, once again approaching the level of "80", reversed into a horizontal plane, reacting to the "bearish" trend last Wednesday.

Existing long positions should be kept until technical indicators are clarified.

Resistance levels: 1.3500, 1.3650.
Support levels: 1.3400, 1.3300, 1.3250, 1.3200.

Trading tips

To open long positions, one can rely on the breakout of 1.3500. Take-profit – 1.3600–1.3650. Stop-loss – 1.3425. Implementation time: 2-3 days.

A rebound from 1.3500 as from resistance followed by a breakdown of 1.3400 may become a signal for new sales with the target at 1.3250. Stop-loss – 1.3500.

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.

 

[Antony_NPBFX]

Results of the October’s Battle of Traders and top 10 winners of the contest

We present the results of the next stage of the Battle of Traders.contest on demo accounts from NPBFX. 2347 traders took part in the October’s contest which is more than 500 participants bigger than in the same period last year. Each month traders from different countries use a unique opportunity to experience the spirit of real trading competition and win a prize fund of $2500 without risks and their own investments. For fans of Apple gadgets, it will be important to know that the super prize of the contest, starting in November, will be the newest iPhone 12 Pro! In today's review, we share the most interesting facts of the October’s battle, as well as the top-10 trading accounts of the past month.

The most successful trader was a participant with the nickname Marlen (account number 211446). With just 25 trades, he managed to increase the starting $5000 on the account to $250,234. This means that in addition to the prize of $1000, the trader receives the super prize of the October’s contest - iPhone 11 Pro! The list of achievements of the contest will also include the most successful transaction of the winner: the sale of AUD/USD with a volume of 140 lots, with a profit of more than $107,000.

The largest number of transactions (5467!) was made by a trader under the nickname BenGold (account no. 212251). Unfortunately, the effectiveness of the trading strategy was not enough to enter the top prize winners. Another participant with the nickname seregey (account number 212745) closed only 10 transactions to win the 9th place in the competition ranking. There are no restrictions on trading strategies in the contest, and participants demonstrated a variety of trading methods: from monoportfels to a mix of currency pairs, indices, stocks and ETFs, CFDs on energy and precious metals.

Who of the participants shared the prize fund of the contest? Here are the top-10 winners of the October’s Battle of Traders! The best traders in October were contestants with nicknames: Marlen, KiritoMad, itfarka, Anaid, FCCreader, elfaith, HoangThanh, LegendaBudakFx, seregey, cukundur.

NPBFX expresses gratitude to the traders who took part in the contest and invites them to participate in the new round of Battle! Don't miss the chance to get real money and the newest gadgets by trading on a demo account. Feel the taste of real emotions and victory with NPBFX!

Sign up for the Battle of Traders right now.

 

[Antony_NPBFX]

NZD/USD: NZD is recovering 09.12.2020

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

NZD demonstrates active growth against USD today, leveling the results of the correctional decline observed since Monday. The pair adds about 0.32% and is actively testing the level of 0.7060 for a breakout.

Today, the instrument is significantly supported by macroeconomic statistics from New Zealand. Manufacturing Sales in Q3 2020 increased by 17.3% QoQ after declining by 12% QoQ in the previous period.

In turn, the data from China disappointed investors. The Consumer Price Index in China fell by 0.6% MoM in November after falling by 0.3% MoM in the previous month. Analysts expected a decline of 0.2% MoM. In annual terms, inflation also slowed down by 0.5% YoY after increasing by 0.5% YoY a month earlier.

Support and resistance

Bollinger Bands in D1 chart show stable growth. The price range is narrowing, reflecting ambiguous nature of trading in the short/ultra-short term. MACD is trying to reverse upwards again but preserves its previous sell signal (located below the signal line). Stochastic, having approached the level of "20" is also reversing upwards, reacting to the restoration of "bullish" activity on Wednesday.

One should wait until the situation is cleared up and the signals from technical indicators are clarified to open new trading positions for the instrument.

Resistance levels: 0.7050, 0.7100, 0.7150, 0.7200.
Support levels: 0.7000, 0.6962, 0.6913, 0.6853.

Trading tips

To open long positions, one can rely on the breakout of 0.7100. Take-profit – 0.7200. Stop-loss – 0.7050. Implementation time: 2-3 days.

The breakdown of the level of 0.7000 may be an alternative. Take profit – 0.6913. Stop-loss – 0.7050.

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 NZD/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

GBP/USD: GBP remains under pressure 11.12.2020

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 is trading with an uptrend paired with USD in trading this morning session, recovering from a noticeable decline the day before, which was caused by another postponement of the trade deal between the UK and the EU. The day before, the European Commission President Ursula von der Leyen said that the parties are still facing a number of disagreements, but the signing of a trade agreement is quite possible by the end of this week.

Yesterday's macroeconomic statistics from the UK turned out to be ambiguous, which also partly contributed to the development of "bearish" trend for the instrument. UK GDP in October slowed down from +1.1% MoM to +0.4% MoM, apparently responding to repeated restrictive measures, as well as a weak economic recovery after the first wave of lockdowns. At the same time, Industrial Production in October rose by 1.3% MoM, while analysts expected an increase of only 0.3% MoM. In annual terms, the rate of production decline slowed down from –6.3% YoY to –5.5% YoY.

Support and resistance

In the D1 chart, Bollinger Bands are reversing horizontally. The price range is expanded from below reflecting rise of "bearish" sentiment in the short term. MACD is going down keeping a fairly stable sell signal (located below the signal line). Stochastic shows a similar trend. The indicator reversed into a horizontal plane, responding to the corrective growth of the instrument at the trading today.

Resistance levels: 1.3300, 1.3350, 1.3400, 1.3450.
Support levels: 1.3250, 1.3200, 1.3125.

Trading tips

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

The development of "bearish" trend with the breakdown of 1.3250 may become a signal for further sales with target at 1.3150. Stop-loss – 1.3300.

Use more opportunities of the NPBFX analytical portal: economic indicators

Regular monitoring of global economic indicators plays an important role in trading, because of their strong influence on FOREX market and possibility to provoke significant price fluctuations. For the convenience of traders the "Education" section on the NPBFX portal contains the most popular and significant world economic indices with a detailed description, their possible impact on the economy and exchange rates (GDP, consumer price index, unemployment rate, Nonfarm Payrolls (NFP), etc.).

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.