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[Antony_NPBFX]

Who won the Battle of Traders contest on demo accounts in February 2020? We share our impressions and the results

Hello, dear Forumers!

We present the results of the monthly Battle of Traders contest on demo accounts from NPBFX for February 2020. Who managed to be the champion among the participants and get $1000 to the real account? Who was among the top ten strongest traders in the the contest?

Although February is the shortest month of the year, it has not reduced the number of participants. 1837 traders were competing for the prize fund!

The winner of the contest was the trader with the nickname Rafkat1977 (account number 159116). It is not the first time that he has taken part in the contest this year. However, in January he failed to make it to the top ten. The second attempt of the trader was rewarded with the first place and the positive financial result of $150494.02.

The ten winners also included participants with the nicknames: Victory44, PETRONIK, fazkev, Han, Pash, livermore2020, Doggie, Lungelo, igcom.

As can be seen from table of results, traders' trading results from 2nd 6th place differ by less than 15%. The same pattern can be observed in the statistics of the trading accounts of the contestants from 7th to 10th places. Here the difference in yield figures is less than 10%! One can only imagine what emotions and competitive spirit captured the winners of February on the last days of the competition, when every trade and every $100 was important in the battle! The correct trading strategy and the ability to control emotions helped the best traders of February to enter the top 10 and get the prize money to the real account.

NPBFX congratulates the winners and thanks all the traders who took part in the contest! Anyone who feels like can try to win in the Battle of Traders contest in March and compete for valuable prizes: the newest iPhone 11 Pro and the prize fund of $2,500. The contest rules allow using any trading strategy. Each applicant receives a $5000 initial deposit into the demo account. The goal is to be ahead of the competitors in terms of profit, making at least 10 deals and increasing the deposit by 30% or more.

Sign up for the Battle of Traders contest

 

[Antony_NPBFX]

XAU/USD: gold prices are consolidating 27.03.2020

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 a moderate decline during today's Asian session, retreating from local highs, updated the day before. The instrument loses about 0.28%, testing the level of 1620.00 for a breakdown. Gold is corrected after explosive growth at the beginning of the week, due to the return of investors after a period of sales. The panic in the market subsided slightly against the backdrop of the US government taking significant measures to support the economy, which pushed the market to diversify. Leading analytical companies noted the possibility of buying a precious metal. For example, Goldman Sachs analysts expect that in the next few months gold can reach 1800.00.

Support and resistance

On the D1 chart, the Bollinger Bands are gradually reversing horizontally. The price range is narrowing, reflecting appearance of multi-directional dynamics in the short/mid-term. MACD indicator is growing preserving a stable buy signal (located above the signal line and above the zero level). Stochastic, having reached its highs, reversed to the horizontal plane, indicating risks of corrective decline in the short and/or ultra-short term.

It is worth looking into the possibility of corrective trend in the short and/or ultra-short term.

Resistance levels: 1644.36, 1660.15, 1675.00, 1689.11.

Support levels: 1620.00, 1600.00, 1579.25, 1562.70.

Trading tips

To open long positions, one can rely on the rebound from the support level of 1620.00, with the subsequent breakout of 1644.36. Take-profit – 1675.00 or 1689.11. Stop-loss – 1620.00.

A breakdown of 1600.00 may be a signal for new sales with target at 1562.70 or 1547.20. Stop-loss – 1620.00 or 1630.00.

Implementation time: 2-3 days.

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]

The winner of the February Battle of Traders is a novice trader from Bashkortostan! Read how he managed it in the interview.

Only a professional trader with extensive experience can win the contest. To win, you need a proven trading strategy. Other participants can be outperformed in terms of profit only by taking greater risks.Rafkat Faritovich Rafikov from Bashkortostan destroyed these three common myths about the Battle of Traders contest when he won the contest in February! He started studying Forex trading very recently in December 2019. He has no specialized financial or mathematical education. Rafkat Faritovich has not either worked out a trading strategy of his own yet. Luck probably played a great part in the win. But the winner realises that, in addition to luck, good trading conditions on the contest account in NPBFX, risk control, as well as the high volatility of gold in February helped him to win. The trader opened most of his deals on gold (XAU/USD). Taking into account his brief trading experience, Rafkat Faritovich's result can be considered as excellent! All he regrets is, “Almost got to the iPhone”. In the interview with the winner you will read about where and how he learned about trading, what personal qualities he considers to be the most important for success in trading and what profession he has.

- Rafkat Faritovitch, Please tell us how you found out about the Battle of Traders contest and why you decided to take part in it?

- I was invited to participate in the contest by my personal manager. I agreed, because I wanted to make money and try myself out. I was already registered at NPBFX before that.

- What emotions did the news of your victory evoke? Have you already talked about it to some friends and the family?

- I was very happy with the victory, very happy! Too bad that I couldn't win the iPhone, didn't get a little bit! (is laughing)

I haven't told any family members about the victory yet.

- You've passed all stages of the contest: from registration to winner's position. What can you say about the terms and organization of the contest in our company?

- Everything is thought out very well. The contest is especially useful for beginners.

The terms of the contest are very good, it's easy to trade. Sometimes there is too much gambling. But I take the risks into consideration. After moving to 10th place I set a goal to be first and achieved it!

- In February you showed an excellent trading result, by increasing the initial deposit of $5,000 thirtyfold (to $150 494)! What trading strategy did you use? What is the essence of it?

- I don't have my own trading strategy at the moment. I opened the deals on a retest: twice the wave and on the third I opened.

- The total number of deals on your account is 112. More than half of the deals, to be exact 62, you have opened on the XAU/USD currency pair. What is the reason for your choice in favour of gold?

- The volatility of gold was good during the contest. Gold was growing a lot for a week, and next week there was a fall. I caught that situation and was lucky.

- Tell us how you organized your trading on the contest account technically: you used the MT4 mobile terminal, managed the account manually or with the help of robot advisors?

- I didn't use any advisors. Why would I need them? I manually opened all the trades myself. I only traded from the phone – I have no computer, no laptop, nothing.

- As far as I know you also participated in the Battle of Traders contest in January but you were not among the winners. Was your trading strategy different for the first and the second time?

- Yes, it was. I was watching strategies on YouTube, tried to replicate on my account, as I remember it. I constantly study the information on video clips. Even before our conversation I was also studying.

- Rafkat Faritovitch, did you check online monitoring of the Battle of Traders participants during the contest? How useful was it?

- Yes, I constantly reviewed the monitoring data. Especially, when I got to 10th place. Then I became focused on trading. Of course, the monitoring was useful.

- How much time per day did you usually spend on trading in the contest?

- I was holding the phone in my hands for about two hours a day. I was monitoring the account: if the trade went down– I closed it, if it went up– I held on to it, moving to stop losses and take profits.

- 1000$ have already been credited to your real trading account at NPBFX. Are you going to trade on it in the same way as on a demo account in the contest?

- How is it gonna be. Most likely, yes.

- Rafkat Faritovitch, we'd like to know more about you as a trader: how long have you been trading Forex? Why did you decide to trade?

- I consider Forex as an additional income. Last December I registered on the website of your company - NPBFX. Four years ago I tried to trade with another company, but there was no understanding and I gave up.

- Did you study trading yourself through books, videos or attend special courses, webinars?

- I started studying in December last year. I study mostly on my own on YouTube videos. And this Thursday I signed up for a webinar with your company.

- What character traits do you think a trader must have to be successful in Forex?

- Patience, first of all. It's also very important not to panic and comply with money management.

- What do you consider your greatest achievement in trading for today?

- I won the “Battle of the Traders” contest! I had a strike of luck.

- Tell us a little more about yourself: Where you are from? What's your main profession, are you married, what are your interests?

- I am from Russia, Bashkiria. I work as a driver at a factory, have 4 children, who must be fed. My main hobby now is Forex.

- Would you advise your friends and acquaintances to join the Battle of Traders contest? Why?

- Many of my acquaintances are afraid of the word “Forex”, so I wouldn't give them any advice. I passed the verification at you quickly and easily, it's easy.

- What would wish to NPBFX and participants of the following Battle of Traders contests?

- Success to participants! To NPBFX I wish prosperity and to be number one in broker ratings!

- Rafkat Faritovitch, we wish you new victories and achievements on financial markets! And let the trading on NPBFX real account be as successful as on your contest account!

 

[Antony_NPBFX]

EUR/USD: EUR remains under pressure 01.04.2020

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 against USD during today’s Asian session, developing a “bearish” impulse that formed at the beginning of the week, when the instrument retreated from its local highs since March 17. EUR loses significantly to USD amid raging coronavirus epidemic; however, investors’ attention is gradually shifting to macroeconomic indicators from the US. Macroeconomic statistics show negative results not only in the USA. Consumer inflation in the euro area declined from 1.2% YoY to 0.7% YoY. Investors drew attention to the surprisingly stable results on the labor market from Germany. The number of unemployed grew by only 1K, while analysts expected a growth of 29K. Unemployment Rate remained unchanged at 5%. Such strong results are due to the fact that data collection in Germany was completed before the start of national quarantine, and therefore they do not reflect the real situation.

Support and resistance

Bollinger Bands in D1 chart demonstrate a gradual decrease. The price range is narrowing, reflecting the flat dynamics of trading in the short term. MACD indicator is growing preserving a buy signal (located above the signal line). The indicator is trying to consolidate above the zero level. Stochastic, having rebounded from its highs, maintains a confident downtrend, signaling in favor of the development of corrective decline in the ultra-short term.

Technical indicators do not contradict the emergence of a full-scale downtrend in the short and/or ultra-short term.

Resistance levels: 1.1054, 1.1100, 1.1146, 1.1212.

Support levels: 1.1000, 1.0954, 1.0900, 1.0862.

Trading tips

To open long positions, one can rely on the breakout of 1.1054 or 1.1100. Take-profit – 1.1212 or 1.1250, 1.1284. Stop-loss – 1.1000 or 1.0954.

The breakdown of 1.1000 or 1.0954 may serve as a signal to new sales with target at 1.0800. Stop-loss – 1.1054 or 1.1100.

Implementation time: 2-3 days.

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 EUR/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

Brent Crude Oil: oil prices are trying to correct 03.04.2020

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

Brent crude oil prices are trading lower during today’s Asian session, correcting after a sharp rise in the instrument yesterday. On Thursday, quotes increased sharply after statements by Donald Trump about a possible agreement between Russia and Saudi Arabia on production volumes. However, immediately after the publication of Donald Trump’s statements, the instrument again declined and by the end of yesterday's trading session lost most of its positions. Investors have not yet received any official evidence that Saudi Arabia will reduce oil production. However, yesterday it became known that Riyadh plans to convene an emergency meeting of OPEC+, where the United States will be one of the participants.

Support and resistance

In the D1 chart, Bollinger Bands are reversing horizontally. The price range is narrowing, reflecting flat nature of trading in the short term. MACD indicator is growing preserving a stable buy signal (located above the signal line). Stochastic is showing similar dynamics, retreating from its lows, indicating the oversold instrument in the ultra-short term.

Technical indicators do not contradict the further growth of the "bullish" activity in the short and/or ultra-short term.

Resistance levels: 28.69, 30.00, 31.64, 34.22.

Support levels: 27.00, 25.00, 22.51.

Trading tips

To open long positions, one can rely on the breakout of 28.69 or 30.00. Take-profit – 34.22 or 36.00, 37.00. Stop-loss – 27.00 or 26.00.

A breakdown of 25.00 may become a signal for returning to sales with target at 22.00 or 21.00. Stop-loss – 28.00.

Implementation time: 2-3 days.

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]

GBP/USD: general review 06.04.2020

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 today shows ambiguous dynamics, consolidating after a surge of “bearish” activity at the end of last week. Investors sold GBP on Friday amid worsening situation with coronavirus in the UK. Markets hope that the country will be able to overcome the peak of the epidemic in the next two weeks, but so far there is little evidence of this.

Investors also focused on the March US labor market report on Friday. As expected, the report was negative, but did not prevent the further strengthening of USD. Nonfarm Payrolls in March collapsed by 701K after rising by 275K in February. The Unemployment Rate jumped from 3.5% to 4.4%, which was worse than forecasts of 4%. Labor Force Participation Rate also fell from 63.4% to 62.7% with a forecast of 63.3%. Average Hourly Earnings in March surprisingly increased by 0.4% MoM after rising 0.3% MoM in February.

Support and resistance

Bollinger Bands in D1 chart show moderate growth. The price range is narrowing, reflecting flat nature of trading. MACD is reversing downwards forming a new sell signal (trying to consolidate below the signal line). Stochastic shows more confident dynamics and maintains a downtrend with a sell signal. The indicator is rapidly approaching its lows, which may indicate growing risks of GBP being oversold in the ultra-short term.

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

Resistance levels: 1.2329, 1.2484, 1.2600, 1.2800.

Support levels: 1.2200, 1.2077, 1.2000, 1.1800.

Trading tips

To open long positions, one can rely on the rebound from 1.2200 with the subsequent breakout of 1.2329. Take-profit – 1.2600 or 1.2700, 1.2800. Stop-loss – 1.2077, 1.2000.

A breakdown of 1.2200 may be a signal for new sales with target at 1.1900 or 1.1800. Stop-loss – 1.2400 or 1.2484.

Implementation time: 2-3 days.

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 GBP/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

USD/CHF: the dollar is correcting 08.04.2020

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 showing moderate growth against CHF during today's Asian session, recovering from a sudden decline yesterday. The "bullish" rally of USD, which developed over 6 consecutive sessions, was interrupted by a surge of optimism in the market. Investors evaluated published statistics from Europe on the dynamics of the incidence and mortality from the virus and believed in reaching the peak of the epidemic. Nevertheless, there are still plenty of uncertainties in the market, so the demand for risk remains weak.

Today, investors are focused on the release of the Fed Meeting Minutes. Market participants expect to receive additional information about the prospects of monetary policy in the near future from the document.

Support and resistance

On the D1 chart Bollinger Bands are reversing downwards. The price range is narrowing from above, reflecting the emergence of ambiguous dynamics of trading in the ultra-short term. MACD indicator tries to reverse downwards and form a sell signal (the histogram has to consolidate below the signal line). Stochastic is ahead of the curve and at the moment has already significantly retreated from its highs, signaling that USD is overbought in the ultra-short term.

It is worth looking into the possibility of corrective decline in the short and/or ultra-short term.

Resistance levels: 0.9765, 0.9847, 0.9900.

Support levels: 0.9684, 0.9628, 0.9600, 0.9500.

Trading tips

To open long positions, one can rely on the rebound from the support level of 0.9684, with the subsequent breakout of 0.9765. Take-profit – 0.9900. Stop-loss – 0.9700 or 0.9684. Implementation time: 2-3 days.

The breakdown of 0.9684 may serve as a signal to new sales with the target at 0.9600 or 0.9580. Stop-loss – 0.9740 or 0.9750. Implementation time: 1-2 days.

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 USD/CHF and trade efficiently with NPBFX.

 

[Antony_NPBFX]

AUD/USD: the instrument is consolidating 10.04.2020

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 shows ambiguous dynamics of trading against USD and is consolidating near local highs since March 12, updated the day before. Today, exchanges are closed in many countries due to Good Friday, so trading activity remains low. However, given the high level of volatility in the market, it is possible that in the afternoon, with the publication of US data, activity will begin to gradually recover.

During the Asian session, traders are focused on the publication of macroeconomic statistics from China. In March, Consumer Price Index slowed down from 5.2% YoY to 4.3% YoY, which turned out to be worse than expert estimates at 4.8% YoY. On a monthly basis, consumer inflation in March fell by 1.2% MoM after rising by 0.8% MoM in February. Analysts had expected negative trend to appear, but counted on only 0.7% MoM decline.

Support and resistance

Bollinger Bands in D1 chart show active growth. The price range is widening but does not conform to the development of the "bullish" trend in the short term yet. MACD indicator is growing preserving a stable buy signal (located above the signal line). Stochastic, having approached its highs is gradually reversing into a horizontal plane, indicating the risks of overbought USD in the ultra-short term.

Technical indicators do not contradict the further development of the "bullish" trend in the short and/or ultra-short term.

Resistance levels: 0.6432, 0.6508, 0.6584, 0.6650.

Support levels: 0.6303, 0.6212, 0.6100, 0.6000.

Trading tips

To open long positions, one can rely on the breakout of 0.6432. Take profit – 0.6584 or 0.6600. Stop-loss – 0.6340.

A rebound from 0.6432 as from resistance, followed by a breakdown of 0.6340 or 0.6300 may become a signal to new sales with the target at 0.6100. Stop-loss – 0.6400 or 0.6432.

Implementation time: 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 AUD/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

NZD/USD: NZD is slightly correcting 13.04.2020

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 shows flat dynamics against USD during today’s Asian session, trading near the local highs since March 16, which the instrument managed to update at the end of last week. The pair is trying to consolidate below 0.6070; however, the reason for its slight correction is mainly due to technical factors.

Investors remain focused on Friday’s data on consumer inflation from the US and China. As expected, the data disappointed investors. Chinese Consumer Price Index in March declined by 1.2% MoM after an increase of 0.8% MoM in February. Analysts expected a decline of 0.7% MoM. In annual terms, the index has slowed from 5.2% YoY to 4.3% YoY, with the forecast of 4.8% YoY.

Support and resistance

Bollinger Bands in D1 chart show moderate growth. The price range is narrowing, reflecting appearance of multi-directional dynamics in the short term. MACD indicator is growing preserving a stable buy signal (located above the signal line). The indicator is trying to consolidate above the zero level. Stochastic, having reached its peak values, reversed into a horizontal plane, signaling in favor of the development of a correctional decline in the ultra-short term.

One should wait on the formation of signals for the reversal of the instrument downwards. Some of existing long positions can be closed, fixing profits.

Resistance levels: 0.6120, 0.6200, 0.6300, 0.6356.

Support levels: 0.6000, 0.5878, 0.5805, 0.5690.

Trading tips

To open long positions, one can rely on the breakout of 0.6120. Take-profit – 0.6300 or 0.6356. Stop-loss – 0.6000.

Rebound from 0.6120 as from resistance, followed by a breakdown of 0.6000 may become a signal for new sales with the target at 0.5878 or 0.5805. Stop-loss – 0.6100 or 0.6120.

Implementation time: 2-3 days.

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 NZD/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

USD/CAD: the instrument is consolidating 15.04.2020

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 is showing slight growth during today’s Asian session, trying to retreat from monthly lows updated earlier this week. USD remains under pressure amid some improvement in the prospects for combating coronavirus in Europe, as well as due to the publication of a large number of disappointing macroeconomic statistics from the US.

Today investors are focused on statistics on the dynamics of retail sales and industrial production in the USA in March. A meeting of the Bank of Canada on the interest rate with a follow-up press conference is also expected. The key interest rate is expected to remain unchanged at 0.25%, while Canadian monetary authorities may announce new measures to support the economy.

Support and resistance

On the D1 chart, the Bollinger Bands are gradually reversing horizontally. The price range is expanding, without hindering the further development of “bearish” sentiment in the short term. MACD is going down preserving a stable sell signal (located below the signal line). In addition, the indicator is trying to consolidate below the zero level. Stochastic has long been located near its lows and signals in favor of the development of corrective growth in the ultra-short term.

One should wait for the situation to develop and new signals from technical indicators to appear.

Resistance levels: 1.3900, 1.4000, 1.4100, 1.4200.

Support levels: 1.3819, 1.3700, 1.3650.

Trading tips

To open long positions, one can rely on the breakout of 1.4000. Take-profit – 1.4200. Stop-loss – 1.3900.

The return of “bearish” trend with the breakdown of 1.3900 or 1.3819 may become a signal for new sales with the target at 1.3700 or 1.3650. Stop-loss – 1.3950 or 1.4000.

Implementation time: 2-3 days.

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

You can learn more about the current situation on USD/CAD 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/CAD and trade efficiently with NPBFX.