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[Antony_NPBFX]

GBP/USD: the pound is strengthening 01.06.2020

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 strengthening against USD during today’s Asian session, updating local highs since May 11. The instrument is trying to consolidate above 1.2400, receiving support from the correctional sentiment in USD. Additional pressure on USD was exerted by Friday’s macroeconomic statistics from the US, as well as by a press conference by Donald Trump, which marked the intensification of the US confrontation with China.

Chicago PMI in May fell from 35.4 to 32.3 points with a positive outlook on the growth rate to 40 points. Michigan Consumer Sentiment Index for the same period fell from 73.7 to 72.3 points, which also turned out to be worse than market expectations of 74 points. During his speech, Donald Trump announced the cessation of the WHO funding, once again accusing China of hiding information about the dangers of coronavirus.

Support and resistance

Bollinger Bands in D1 chart demonstrate flat dynamics. The price range is expanding from above but it fails to conform to the development of “bullish” sentiments at the moment. 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 keeps upward direction but is rapidly approaching its highs, which indicates the risks of overbought GBP in the ultra-short term.

Resistance levels: 1.2400, 1.2500, 1.2580, 1.2646.

Support levels: 1.2311, 1.2275, 1.2200, 1.2160.

Trading tips

To open long positions, one can rely on the breakout of 1.2400. Take-profit – 1.2500. Stop-loss – 1.2340. Implementation time: 1-2 days.

A rebound from 1.2400 as from resistance, followed by a breakdown of 1.2311 may become a signal for new sales with the target at 1.2200. Stop-loss – 1.2380. 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 GBP/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

USD/CAD: US dollar declines 03.06.2020

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

Today, during the Asian session, the USD/CAD pair is falling, renewing local lows of March 8. The instrument has been actively falling since the beginning of the week, responding to the rising demand for risk as the global economy recovers from global restrictive measures. In turn, the focus of investors has shifted to economic and geopolitical problems, which supports the demand for shelter assets. Traders are watching the confrontation between the US and China, worried about the prospects of a return and even intensification of the trade war.

Today, the market is focused on a block of macroeconomic statistics on US employment and Service PMI for May, as well as on Canadian interest rate decision release. However, there are no surprises expected. The rate of the Central Bank of Canada is at a minimum level of 0.25%, and now, resorting to negative values is slightly premature.

Support and resistance

On the daily chart, Bollinger bands steadily decline. The price range expands but not as fast as the “bearish” moods develop. MACD falls, keeping a strong sell signal (the histogram is below the signal line). Stochastic, approaching its lows, reversed into a horizontal plane, indicating that USD is oversold in the ultra-short term.

It is better to keep the current short positions in the nearest time intervals until signals from technical indicators are clarified.

Resistance levels: 1.3564, 1.3650, 1.3700, 1.3800.

Support levels: 1.3479, 1.3400, 1.3306.

Trading tips

Long positions may be opened after a rebound from 1.3479 and a breakout of 1.3564 with the targets at 1.3750–1.3800. Stop loss – 1.3450. Implementation period: 2–3 days.

Short positions may be opened after the breakdown of 1.3479 with the target at 1.3306. Stop loss – 1.3564. Implementation period: 1–2 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.

 

[Antony_NPBFX]

We recap the April Battle of Traders: impressive results and one more iPhone 11 Pro!

Hello, dear forum users!

In April the Battle of Traders contest attracted even bigger amount of participants along with the ongoing pandemic, self-isolation and high market volatility. 2,398 traders with different experience and skills levels competed for the first place and the main prize - iPhone 11 Pro. This amount of participants beat the recently set March record. That time there were 2060 traders in the contest.

The traders followed a variety of trading strategies, demonstrating incredible profits on many transactions! At the end of the month the highest final trading result was shown by the winner of the Battle of Traders - a contestant with the nickname Inumiko (account No. 175575). He was able to increase his initial deposit of $5,000 almost 133 times! His contest account statement recorded highest profit at the point of $663,199. In addition to the main prize of $1000 the winner received a special prize from NPBFX - the latest iPhone 11 Pro! To achieve this result the trader closed 155 transactions.

Good to note that there are contestants in the top 10 who made only 18 (account No. 169732) and 22 (account No. 170450) trades. The contestant with the nickname jacky700 is in 7th place. Among the winners he closed the maximum number of transactions - 350 trades. And the trader with the nickname CatFoot managed to close 3139 trades! That's the maximum amount of trades for the April Battle of Traders. However, he failed to make it into the top ten.

The contestants with the following nicknames receive money prizes from NPBFX according to the results of April battle: Inumiko, vadtrad, Adryan, Leordo, mahdi, Nouby9, jacky700, Kariki, rsakom, olg.

NPBFX congratulates the winners and thanks all the traders who took part in the contest! Anyone can try to win the latest iPhone 11 Pro and compete for the prize fund of $ 2500 in May. Each contestant receives $5000 to his or her demo account upon registration in the contest. The main goal is to increase the initial deposit as much as possible, to get profit from 30% and to close at least 10 transactions. The contestant who will take first place and increase the initial deposit 50 times or more will win a super prize - iPhone 11 Pro.

Conquer the Forex tops in the demo contest, set new records, get a real deposit from NPBFX as a reward without risks and your own investments!

Sign up for the Battle of Traders contest

 

[Antony_NPBFX]

AUD/USD: Australian dollar is strengthening 05.06.2020

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 showing moderate growth against USD during the Asian session on Friday, again preparing to test the important resistance at 0.7000. The instrument adds about 0.40%, receiving support from the publication of rather optimistic macroeconomic statistics from Australia. AiG Performance of Services Index grew from 27.1 to 31.6 points, which turned out to be better than the average market expectations.

Today investors are focused on the publication of the May report on the US labor market. However, given that the report will cover the period only until mid-May, the market has already received the most relevant data on the number of the unemployed yesterday. The situation in the American labor market remains difficult, although it shows weak hints of recovery.

Support and resistance

Bollinger Bands in D1 chart show active growth. The price range expands, freeing a path to new local highs for the “bulls”. MACD indicator is growing preserving a stable buy signal (located well above the signal line). Stochastic, having reached its high, reversed into a horizontal plane, signaling in favor of the development of a correctional decline in the ultra-short term.

One should keep existing long positions in the short and/or ultra-short term. It is worthwhile to postpone opening new purchases now.

Resistance levels: 0.7000, 0.7031, 0.7081.

Support levels: 0.6955, 0.6900, 0.6856, 0.6812.

Trading tips

To open long positions, one can rely on the breakout of 0.7000. Take-profit – 0.7081–0.7100. Stop-loss – 0.6940. Implementation time: 1-2 days.

A rebound from 0.7000 as from resistance, followed by a breakdown of 0.6955 may become a signal for new sales with the targets at 0.6856–0.6812. Stop-loss – 0.7031. 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 AUD/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

USD/CHF: general review 08.06.2020

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

Today, during the Asian session, the USD/CHF pair grows, continuing the “bullish” momentum after a slight correctional decline yesterday, which allowed the instrument to test the level of 0.9650.

On Friday, USD was supported by US unemployment data, which was better than forecasted. It fell to 13.3% against the expectation of a jump to 20%. Nonfarm Payrolls rose by 2.509M against a decrease of 8M expected. So, the US unemployment peak was in April, not in May, as it was predicted, which is extremely positive news for the US economy.

Meanwhile, CHF fell due to the forecast of the Swiss bank UBS, which said that this summer, about 85K apartments will be vacant. The share of real estate without residents will reach 1.9%, which is a new negative record, due to the economic crisis caused by the COVID-19 pandemic, which caused massive job losses, resulted in a decrease in the number of tenants. 63.2% of Swiss residents rent housing, and the country occupies the third place in Europe in the number of tenants.

Support and resistance

On the 4-hour chart, Bollinger Bands consolidated within a wide range, which allows high trading activity in the short term. MACD grows, forming bars above zero and giving a buy signal. Stochastic fell after reaching 80% but is going to reverse upwards, signaling for an uptrend development in the ultra-short term. Now, the local support and resistance levels are 0.9541 and 0.9651.

Resistance levels: 0.9638, 0.9651.

Support levels: 0.9607, 0.9572, 0.9541.

Trading tips

Long positions may be opened after the breakout of 0.9651 with the target at 0.9700. Stop loss – 0.9635.

Short positions may be opened after the breakdown of 0.9572 with the target at 0.9541. Stop loss – 0.9590.

Implementation period: 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 USD/CHF and trade efficiently with NPBFX.

 

[Antony_NPBFX]

EUR/USD: EUR remains under pressure 10.06.2020

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 shows insignificant growth against USD during today's Asian session, continuing the development of yet another “bullish” impulse formed yesterday. The instrument tests the level of 1.1350 for a breakout and returns to the previous three-month local highs, updated on June 5. Some support to EUR is provided by yesterday's macroeconomic statistics from the eurozone. According to updated data, eurozone GDP in Q1 2020 fell by 3.6% QoQ after the previous estimate of –3.8% QoQ. In annual terms, the eurozone economy lost 3.1% YoY, which is also slightly better than previous data of –3.2% YoY. Employment Change in Q1 2020 accelerated from +0.3% YoY to +0.4% YoY.

USD remains under pressure amid expectations of the publication of the Fed two-day meeting minutes, scheduled for today. In addition, on Wednesday, investors expect the release of May statistics on consumer inflation in the USA.

Support and resistance

Bollinger Bands in D1 chart show stable growth. The price range is slightly narrowed from below, being too spacious for the current activity level in the market. MACD indicator is growing preserving a weak buy signal (located above the signal line). Stochastic, after an unsuccessful attempt to downward correction, again reverses in the direction of growth.

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

Resistance levels: 1.1382, 1.1447, 1.1500, 1.1547.

Support levels: 1.1284, 1.1200, 1.1153, 1.1100.

Trading tips

To open long positions, one can rely on the breakout of 1.1382. Take-profit – 1.1547. Stop-loss – 1.1300.

A rebound from 1.1382 as from resistance, followed by a breakdown of 1.1284 may become a signal for new sales with the targets at 1.1153–1.1100. Stop-loss – 1.1382.

Implementation time: 2-3 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 EUR/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

XAU/USD: gold prices are consolidating 12.06.2020

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 dynamics during today’s morning session, consolidating near 1730.00. The day before, the instrument showed negative dynamics, retreating from its local highs since June 2 against the background of widespread strengthening of USD. Additional pressure on gold was exerted by the fact that the US regulator has at the moment abandoned the idea of negative interest rates, and is inclined to take a wait and see attitude, continuing only to increase the program of quantitative easing if necessary.

At the same time, the Fed’s economic indicators and forecasts indicate a rather difficult situation for the American economy, which supports the demand for gold. In addition, investors are worried about the possibility of a second wave of the COVID-19 epidemic, which could force countries to return some of the restrictions before the vaccine is found.

Support and resistance

Bollinger Bands in D1 chart demonstrate flat dynamics. The price range remains virtually unchanged, indicating an approximate balance of power in the short term. MACD indicator is growing preserving a weak buy signal (located above the signal line). Having approached the level of “80”, Stochastic reversed into the horizontal plane, reacting to the appearance of the downtrend as a result of Thursday’s trading.

Current readings of technical indicators remain uninformative for opening new trading positions.

Resistance levels: 1735.13, 1744.89, 1753.57, 1765.07.

Support levels: 1720.00, 1703.07, 1691.28, 1675.00.

Trading tips

To open long positions, one can rely on the rebound from the support level of 1720.00 with the subsequent breakout of 1735.13. Take-profit – 1753.57. Stop-loss – 1725.00. Implementation time: 2-3 days.

The breakdown of 1720.00 may serve as a signal to new sales with the target at 1703.07. Stop-loss – 1730.00. Implementation time: 1-2 days.

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

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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]

EUR/USD: EUR is corrected 15.06.2020

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 shows moderate growth against USD during today’s Asian session, retreating from local lows updated at the end of last trading week, marked by a two-day decline in EUR quotes. The instrument is testing the level of 1.2560 for a breakout. EUR is supported by technical factors, as well as the publication of good macroeconomic statistics from China, which, however, turned out worse than its forecasts. Industrial Production in China in May showed an increase of 4.4% YoY after an increase of 3.9% YoY in April. Analysts expected an increase of 5% YoY. Retail Sales for the same period decreased by 2.8% YoY after falling by 7.5% YoY in April. Market forecasts suggested a decline of 2% YoY.

In general, in the current situation, the position of EUR looks very promising. Experts believe that in the near future, EUR will make an attempt to grow to its March highs at 1.1500.

Support and resistance

Bollinger Bands in D1 chart show stable growth. The price range is narrowing, reflecting the emergence of ambiguous dynamics of trading in the short term. MACD reversed downwards having formed a sell signal (located below the signal line). Stochastic keeps a confident downtrend but is located near its lows, which indicates the growing risks of oversold EUR in the ultra-short term.

Resistance levels: 1.1284, 1.1340, 1.1421, 1.1500.

Support levels: 1.1200, 1.1153, 1.1100, 1.1054.

Trading tips

To open long positions, one can rely on the rebound from the support level of 1.1200 with the subsequent breakout of 1.1284. Take-profit – 1.1421. Stop-loss – 1.1200.

The breakdown of 1.1200 may serve as a signal to new sales with the targets at 1.1100–1.1054. Stop-loss – 1.1284.

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 EUR/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

USD/CHF: the pair is consolidating 17.06.2020

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

Today, during the Asian session, the USD/CHF pair is trading in different directions, being near the level of 0.9500. On Tuesday, USD moderately grew, supported by the US macroeconomic statistics and the speech of the head of the US Federal Reserve Jerome Powell. Presenting a report to Congress, Powell noted that the US economy may have reached its bottom and is on the path to a relatively sustainable recovery, as evidenced by recent macroeconomic publications.

On Wednesday, investors are focused on the US statistics on the dynamics of the housing market for May. Also, Powell will continue to report to Congress today, and Loretta Meister, a member of the US Federal Open Market Committee, will also speak. On Thursday, the Swiss regulator will keep at an interest rate meeting. It is predicted that the rate will remain at the level of –0.75%.

Support and resistance

On the daily chart, Bollinger Bands actively decline. The price range narrows in response to the emergence of flat trading dynamics in the short term. MACD grows, maintaining a poor buy signal (the histogram is above the signal line). Stochastic grows more confident and rapidly approaches the level of 80, indicating that USD may become overbought in the ultra-short term.

It is better to keep the current long positions in the nearest time intervals.

Resistance levels: 0.9540, 0.9572, 0.9600, 0.9637.

Support levels: 0.9500, 0.9462, 0.9400.

Trading tips

Long positions may be opened after the breakout of 0.9540 with the target at 0.9600. Stop loss – 0.9500.

Short positions may be opened after the breakdown of 0.9462 with the target at 0.9400. Stop loss – 0.9500.

Implementation period: 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 USD/CHF and trade efficiently with NPBFX.

 

[Antony_NPBFX]

USD/CAD: the instrument is consolidating 19.06.2020

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 shows ambiguous dynamics of trading against CAD during today’s Asian session, consolidating near the level of 1.3600. Yesterday, USD managed to strengthen across the entire spectrum of the market, receiving support from the concerns regarding the increase in the incidence of coronavirus in China and the US. Uncertain macroeconomic statistics on the US labor market almost did not prevent the strengthening of the instrument. Initial Jobless Claims for the week ending June 12 decreased from 1.566M to 1.508M, which was significantly worse than market expectations of 1.300M. Continuing Jobless Claims number fell from 20.606M to 20.544M with a forecast of 19.8M.

Canadian data has also been contradictory. Investors are optimistic about the release of the Canadian Employment Report from ADP. In May, the employment change increased by 208.4K jobs after a decrease of 2.361M jobs in the previous month. Experts expected the growth by 280.3K. At the same time, Wholesale Sales in April fell sharply by 21.6% MoM, which turned out to be almost twice worse than market expectations.

Support and resistance

In the D1 chart, Bollinger Bands are reversing horizontally. The price range is trying to consolidate, reflecting the flat nature of trading in the short term. MACD indicator is growing preserving a weak buy signal (located above the signal line). Stochastic still maintains a downtrend and reacts weakly to recent growth.

Resistance levels: 1.3650, 1.3700, 1.3800, 1.3900.

Support levels: 1.3571, 1.3500, 1.3400, 1.3314.

Trading tips

To open long positions, one can rely on the breakout of 1.3650. Take-profit – 1.3800. Stop-loss – 1.3571.

The breakdown of 1.3500 may serve as a signal to sales with the target at 1.3314. Stop-loss – 1.3600.

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.