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USD/CAD: downtrend persists 21.05.2021

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

The USD/CAD pair is demonstrating a downward trend, trading at the level of 1.2073, despite the negative outlook on the financial system from the Bank of Canada.

In the submitted report, the regulator highlighted the increased vulnerability of households that took out mortgage loans that do not correspond to their real income. Among the main threats to financial stability, there is a problem of increased demand for liquidity in the bond market, which banks are unable to provide in the current period of increased load. Summarizing the report, Governor of the Bank of Canada Tiff Macklem assured that in this difficult period the department would react to all current and new risks, so there are no serious concerns for the state of the economy.

Yesterday, the American currency did not show clear dynamics, as investors reacted differently to the incoming macroeconomic information. On the one hand, USD was supported by the decrease in Initial Jobless Claims, which amounted to 444K, which is lower than the projected 450K. On the other hand, the manufacturing activity index for May fell very sharply to 31.5 points from 50.2 points for April.

Support and resistance

Locally, the price is forming a downtrend. Technical indicators keep the global sell signal: fast EMAs on the Alligator indicator are below the signal one, and the AO oscillator histogram is trading in the sell zone.

Resistance levels: 1.2133, 1.2317.
Support levels: 1.2022, 1.1900.

Trading tips

After decline or consolidation below the local support of 1.2022, sell positions with the target at 1.1900 are relevant. Stop loss – 1.2080. Implementation period: 7 days or more.

After reversal and growth or consolidation above the local resistance level of 1.2133, buy positions with the target at 1.2317 will be relevant. Stop loss – 1.2070.

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.

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NZD/USD: the instrument is waiting for new drivers 24.05.2021

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 is showing ambiguous performance against USD during today's morning session, building on the flat trend that has emerged in recent days.

Today, NZD is receiving little support from strong macroeconomic statistics from New Zealand. Meanwhile, retail sales in Q1 2021 showed solid 2.5% QoQ growth after a 2.7% QoQ decline last month. Analysts had expected the negative dynamics to worsen to –4.4% QoQ. Retail Sales excluding Autos for the same period accelerated from +4.8% QoQ to +6.8% QoQ, significantly outperforming the projected +1.9% QoQ.

Market activity remains subdued as investors expect new drivers to emerge. One of such events will be the meeting of the Reserve Bank of New Zealand on interest rates, which will be held on Wednesday, May 26. Analysts do not expect changes in the vector of monetary policy, but comments from officials will continue to be important.

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 going down, keeping a fairly stable sell signal (located below the signal line). Stochastic, having approached the level of "20", reversed into a horizontal plane, indicating the risks of oversold instrument in the ultra-short term.

Resistance levels: 0.7200, 0.7250, 0.7305, 0.7350.
Support levels: 0.7150, 0.7100, 0.7050, 0.7000.

Trading tips

To open long positions, one can rely on the rebound from the support level of 0.7150 with the subsequent breakout of 0.7200. Take-profit – 0.7250. Stop-loss – 0.7175. Implementation time: 2-3 days.

The breakdown of 0.7150 may serve as a signal to new sales with the target at 0.7100. Stop-loss – 0.7180.

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.

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GBP/USD: waiting for new drivers 26.05.2021

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 the morning session, again trying to recover after the flat start of the trading this week.

Investors expect new drivers to appear on the market, but for now they are only sluggishly taking a lead from the US macroeconomic statistics. On Tuesday, additional pressure on USD was exerted by data on the dynamics of new home sales, which reflected a decrease in the indicator by 5.9% MoM in April after rising by 7.4% MoM in March. In absolute terms, sales fell from 0.917M to 0.863M, while the market expected an increase in volume to 0.95M.

At the same time, house prices continue to rise moderately as the US economy recovers. Housing Price Index in March accelerated from +1.1% MoM to +1.4% MoM. In turn, the S&P/Case-Shiller Home Price Indices for the same period added 13.3% YoY after increasing by 12% YoY in February.

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 is slightly declining preserving a previous sell signal (located below the signal line). Stochastic reversed horizontally approximately at the center of its area, pointing to the temporary balance of power in the ultra-short term.

Resistance levels: 1.4200, 1.4232, 1.4275.
Support levels: 1.4150, 1.4100, 1.4050, 1.4000.

Trading tips

To open long positions, one can rely on the breakout of 1.4200. Take-profit – 1.4275–1.4300. Stop-loss – 1.4150. Implementation time: 2-3 days.

A rebound from 1.4200 as from resistance, followed by a breakdown of 1.4150 may become a signal for new sales with the target at 1.4050. Stop-loss – 1.4200.

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.

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USD/CAD: the pair ends the week with flat dynamics 28.05.2021

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 growing slightly, compensating for the decline yesterday, which prevented the formation of a corrective uptrend in the ultra-short term.

Yesterday’s US positive macroeconomic statistics on Initial Jobless Claims supported the "bullish" sentiment for the dollar; however, USD growth was still limited by the unclear prospects of the US FRS monetary policy. Although several bank representatives admitted that they are ready to discuss curtailing stimulus measures, the department does not plan to rush with them.

On Friday, the market expects the publication of a block of US macroeconomic statistics on the dynamics of personal income and spending for April, which may hint at the future policy of the American regulator.

Support and resistance

On the daily chart, Bollinger Bands reverse into a horizontal plane. The price range practically does not change but it remains spacious enough for the current level of activity for the instrument. The MACD indicator grows, maintaining a relatively strong buy signal (the histogram is above the signal line). Stochastic demonstrates similar dynamics, being located approximately in the center of its working area. However, its current readings are slightly correlated with the real dynamics in the market.

Technical indicators do not contradict the possible resumption of the correctional growth of the US currency soon.

Resistance levels: 1.2143, 1.2200, 1.2245, 1.2300.
Support levels: 1.2060, 1.2000, 1.1930.

Trading tips

Long positions may be opened after the breakout of 1.2143 with the target at 1.2245. Stop loss – 1.2090. Implementation period: 1–2 days.

Short positions may be opened after the breakdown of 1.2060 with the target at 1.1930. Stop loss – 1.2130.

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.

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AUD/USD: flat trading 31.05.2021

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 has shown moderate gains against USD during the Asian session, trying to recover from a decline late last week that led to renewed local lows since May 4.

Moderate support for the instrument is provided by macroeconomic statistics from Australia and China. Private Sector Credit in Australia in April showed an increase of 0.2% MoM after increasing by 0.4% MoM in March. In annual terms, credit growth rates increased from +1.0% YoY to +1.3% YoY.

The Chinese data showed a solid growth in the Non-Manufacturing PMI. In May, the indicator increased from 54.9 to 55.2 points, while analysts expected it to decline to 52.7 points. NBS Manufacturing PMI, in turn, slightly decreased from 51.1 to 51.0 points in May, while experts did not expect any changes at all.

Investors are now awaiting the Reserve Bank of Australia's interest rate decision with a follow-up press conference on Tuesday.

Support and resistance

In the D1 chart, Bollinger Bands are reversing horizontally. The price range practically does not change, limiting short-term "bears" in further development. MACD is declining keeping a weak sell signal (located below the signal line). Stochastic shows an unstable oscillatory dynamics approximately at the center of its area, pointing to the balance of power in the ultra-short term.

Resistance levels: 0.7750, 0.7770, 0.7800, 0.7816.
Support levels: 0.7700, 0.7676, 0.7636, 0.7600.

Trading tips

To open long positions, one can rely on a confident breakout of 0.7750. Take-profit – 0.7800–0.7816. Stop-loss – 0.7715. Implementation time: 1-2 days.

The return of "bearish" trend with the breakdown of 0.7700 may become a signal for new sales with the target at 0.7600. Stop-loss – 0.7750.

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.

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XAU/USD: prices are adjusted for the second session in a row 2.06.2021

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 have declined for the second session in a row, retreating from record highs since the beginning of the year and testing 1900.00 for a breakdown.

Investors are fixing long positions in the instrument amid the publication of upbeat macroeconomic statistics from the US, as well as ahead of the release of the US labor market report for May on Friday. Additional pressure on the quotes was exerted by the yield of US Treasury bonds, which resumed growth. In turn, gold is still in high demand against the background of existing inflationary risks, which are almost completely ignored by the US Fed.

Today, investors expect the publication of the monthly economic review, Fed's Beige Book, which is likely to be able to further support the "bullish" sentiment in USD.

Support and resistance

Bollinger Bands in D1 chart show stable growth. The price range is narrowing actively, reflecting the emergence of ambiguous dynamics of trading in the short/ultra-short term. MACD reversed downwards having formed a new sell signal (located below the signal line). Stochastic is showing similar dynamics, retreating from its highs, indicating the overbought gold in the ultra-short term.

The development of a full-fledged downtrend is possible in the near future.

Resistance levels: 1916.36, 1935.00, 1952.53, 1966.25.
Support levels: 1900.00, 1882.10, 1863.34, 1850.00.

Trading tips

To open new short positions, one can rely on the breakdown of 1882.10. Take-profit – 1850.00. Stop-loss – 1900.00. Implementation time: 1-2 days.

A rebound from 1882.10 as from support followed by a breakout of 1900.00 may become a signal for new purchases with the target at 1935.00. Stop-loss – 1882.10.

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.

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AUD/USD: AUD renews local lows 4.06.2021

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 trading flat against USD during the Asian session, consolidating near the local lows since April 14 after the active decline the day before.

USD strengthened significantly yesterday, responding to the emergence of positive macroeconomic statistics. Specifically, the ADP Employment Change Report reflected nearly 1M new job growth, which points to the rapid recovery of the US economy after the pandemic and gives hope for strong results from the final US labor market report for May, which will be released today.

Statistics from Australia provided insignificant support to the instrument on Friday. The volume of Home Loans in the country in April increased by 4.3% MoM after increasing by 3.3% MoM in March. At the same time, Investment Lending for Homes for the same period corrected from +12.7% MoM to +2.1% MoM.

Support and resistance

Bollinger Bands in D1 chart demonstrate a moderate decrease. The price range is expanding, but the quotes of the instrument are located below its borders. MACD is going down preserving a strong sell signal (located below the signal line). Stochastic is showing similar dynamics; however, the indicator line is rapidly approaching its lows, signaling growing risks associated with the oversold AUD in the ultra-short term.

Resistance levels: 0.7676, 0.7700, 0.7750, 0.7770.
Support levels: 0.7636, 0.7600, 0.7562, 0.7531.

Trading tips

The breakdown of 0.7636 may serve as a signal to new sales with the targets at 0.7562–0.7540. Stop-loss – 0.7676. Implementation time: 1-2 days.

To open long positions, one can rely on the rebound from the support level of 0.7636 with the subsequent breakout of 0.7676. Take-profit – 0.7750. Stop-loss – 0.7636.

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.

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EUR/USD: euro is trying to recover 7.06.2021

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 ambiguous trading dynamics against USD during the Asian session, consolidating near 1.2160 and maintaining the "bullish" momentum formed at the end of last week.

EUR, like many other instruments, managed to show growth last Friday, responding to the release of the US labor market report for May, which could not meet all the expectations of traders. It should be noted that the data can still be called strong, but investors fear that it is not enough to change the course of the US Fed's monetary policy. The American economy created 559K new jobs in May after 278K in April. Market forecasts assumed an increase of 650K. In turn, the Unemployment Rate fell more than expected, from 6.1% to 5.8%, which was not reflected in the dynamics of the instrument.

Today, investors are focused on statistics from Germany on the volume of factory orders for April.

Support and resistance

In the D1 chart, Bollinger Bands are reversing horizontally. The price range is slightly expanded from below, remaining spacious enough for the current activity level in the market. MACD is declining keeping a weak sell signal (located below the signal line). Stochastic shows similar dynamics, rapidly approaching its lows, which indicates risks associated with the oversold EUR in the ultra-short term.

Resistance levels: 1.2200, 1.2265, 1.2309, 1.2348.
Support levels: 1.2150, 1.2100, 1.2050, 1.2000.

Trading tips

To open long positions, one can rely on a confident breakout of 1.2200. Take-profit – 1.2309. Stop-loss – 1.2150. Implementation time: 2-3 days.

The return of "bearish" trend with the breakdown of 1.2150 may become a signal for new sales with the target at 1.2050. Stop-loss – 1.2200.

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.

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“Forex should be promoted”. Introducing an interview with the winner of the March’s Battle of Traders

Today’s winner of The Battle of Traders was attracted to Forex accidentally – by a book on wave analysis written by Ralph Elliott. 10 years have passed since then, but the trader still applies the classic waves’ approach to make prognoses on the market. Let us introduce you Yuri Genrikhovich Luchina. It is he who is on the top of March’s Battle, having made only 15 transactions using USD/JPY currency pair. For trading in the Battle, the trader has used the full range of available devices. It is important to note that the winner’s trading strategy brought him profit – he closed all trades in plus. Yuri Genrikhovich himself supposes that in order to achieve success, one should not be afraid to trade and take a risk. His educational background is related to Law and he lives in Belarus. Reasons why the winner considers Forex to be the business of the future, which needs to be promoted, as well as Yuri’s plans to trade on a real account, are presented in the interview below.

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- Yuri Genrikhovich, tell us, please, how did you learn about the Battle of Traders?

- I found it by chance through advertising on the Internet.

- Have you already had experience of participating in other contests?

- I had, indeed.

- As far as I know, in March you first became a participant in the Battle. Did you set a goal to take the first place or did the victory come as a surprise to you?

- It was a surprise.

- What were the first words and emotions when you found out that you was #1? Did you manage to share this news with someone?

- Of course I was delighted! The emotions were positive. I have not shared this news with anyone for now, but I will, later.

- Yuri Genrikhovich, what do you think of the terms and conditions of the Battle held by  NPBFX?

- They are the best!

- In March, you were able to increase your initial deposit of $5000 by 13 times (up to $65,000)! At the same time, all 15 trades were closed in profit. Please tell us what is the essence of your trading strategy?

- This is the Elliott Wave Theory analysis, I don't use indicators at all. Just the wave analysis.

- Your trading portfolio includes only one trading instrument – USD/JPY currency pair. Why did you choose the yen?

- It's just the most comfortable for me. Although I work with Swiss franc, but yen, I suppose, is more flexible.

- Would you like to try trading other instruments that are available with NPBFX, in particular, stocks, indices, oil, gas, cryptocurrencies?

- I trade with them for myself, but I use indices. It's just that there are no historical charts for these tools, which is essential for trading to have previous statistical data on currency pairs. These data can be monthly, annual – somehow it turns out easier to deal with.

- The most profitable transaction in the Battle brought you over $9,700 in profit. Its trading volume was 18 lots. The statement of your contest account displays trades with a larger trading volume – 40 and 50 lots each! Tell me, for the market prognosis, you used only wave analysis or, perhaps, fundamental analysis?

- I used the fundamental one to get a clue on price changes, in which direction – only using the wave analysis.

- During the Battle, did you open positions through the desktop version of MT4 or through a smartphone (tablet) using NPBFX mobile terminal?

- Yes, both a tablet and a computer. I use a full range of devices.

- How can you evaluate  the trading conditions at NPBFX?

- The best.

- Did you manage to get acquainted with the Analytical Portal, which is available in the Personal Office?

- Not yet, I haven't checked yet.

- How often did you refer to monitoring the accounts of all participants during the Battle? How useful was the monitoring?

- Yes, I did. Monitoring motivated to exit, to stop trading when already a certain position is taken to avoid the risks.

- $1000 has already been credited to your real trading account at NPBFX. Are you planning to continue the same trading on it as on a demo account in the Battle?

- Yes, I have a wave analysis.

- Recently, the global economy has shown a tendency of recovery after lockdowns due to COVID. Does it somehow affect Forex market, in your opinion?

- The fact that dollar will fall was predicted decades ago based only on wave analysis, so economic indicators do not play a crucial role.

- Yuri Genrikhovich, tell us a little about your professional path: what brought you to Forex – was it a chance or a deliberate choice? How long have you been trading Forex?

- For about ten years. I have just accidentally seen a book about wave analysis and became interested in this issue.

- Perhaps you attended some trainings or studied trading on your own?

- Independently. There was technical analysis, and that’s it, but I just couldn't do much with technical analysis.

- Which traits should a trader have in order to become a professional and achieve financial success?

- Do not be afraid to trade, take risks. Be more daring and less greedy.

- What do you do besides trading, what is your profession?

- I am a lawyer.

- Please tell me, what country are you from, where do you live? How old are you, are you a family man?

- Yes, I am a family man. I am 60 years old, now I am in Belarus.

- How popular is Forex trading in the Republic of Belarus, in your opinion?

- As elsewhere, as in Russia – in Belarus it is the same. By the way, I already registered in partnership program and placed your banner with the link on my webpage completely devoted to wave analysis.

- Yuri Genrikhovich, would you advise your friends and acquaintances to join the Battle of Traders? Why?

- I would advise, of course, why not.

- It turns out that you communicate with people who trade, right?

- Sure.

- What would you like to wish NPBFX and the participants of the next Battle of Traders?

- To devote more time to advertising, as it were, to promote Forex, because this is the business of the future.

- Yuri Genrikhovich, thank you for participating in the interview. We wish you new victories and achievements in the financial markets! And let your NPBFX real account trading be even more successful than your contest account in March!

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NZD/USD: flat trading dynamics 11.06.2021  

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 is flat against USD during today's Asian session, holding near 0.7200. Investors are awaiting discussions of the newly flaring disagreements between the UK and the EU over the Brexit transition arrangements at the G7 Meeting.

Yesterday's macroeconomic statistics from the US on consumer inflation, although turned out to be better than forecasts, failed to noticeably affect the dynamics of USD. However, the market, along with the US Fed, received a new signal, indicating a rapid rise in prices. Now traders are awaiting the meeting of the American regulator, hoping to hear a more proactive position on the gradual tightening of monetary policy.

Meanwhile, the instrument is moderately supported by macroeconomic statistics from New Zealand. Business NZ PMI in May increased from 58.4 to 58.6 points, which was significantly better than market expectations at 54.4 points.

Support and resistance

Bollinger Bands in D1 chart demonstrate flat dynamics. The price range is expanding from below, remaining spacious enough for the current activity level in the market. MACD is declining keeping a weak sell signal (located below the signal line). The indicator is trying to consolidate below the zero level. Stochastic is showing flat dynamics, being located in the middle of its area.

Resistance levels: 0.7200, 0.7250, 0.7286, 0.7315.
Support levels: 0.7163, 0.7125, 0.7100, 0.7050.

Trading tips

To open long positions, one can rely on a confident breakout of 0.7200. Take-profit – 0.7250. Stop-loss – 0.7175. Implementation time: 1-2 days.

A rebound from 0.7200 as from resistance followed by a breakdown of 0.7163 may become a signal for new sales with the target at 0.7100. Stop-loss – 0.7200.

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.

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AUD/USD: the instrument is trying to recover positions 14.06.2021

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 weak corrective gains during the Asian session, recovering from a strong decline at the end of last week and again trying to consolidate above the strong support at 0.7700.

USD, which received a short-term boost to growth last Friday, remains under pressure mainly due to the soft position of the US Fed, which is in no hurry to share its long-term plans to reduce the current stimulus. Investors are preparing for the next meeting of the American regulator, which will be held on June 16; however, this time the market is counting only on comments at a press conference. In addition, traders are waiting for Thursday, when the May report on the Australian labor market will be released, as well as a speech by the Governor of the Reserve Bank of Australia (RBA) Philip Lowe.

Support and resistance

Bollinger Bands in D1 chart demonstrate a weak decrease. The price range is changing slightly, but remains rather spacious for the current level of activity in the market. 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, having shown a rebound from the level of "80" demonstrates a confident decline and practically does not react to an attempt at corrective growth today.

Technical indicators do not contradict the further decline of the instrument in the short and/or ultra-short term.

Resistance levels: 0.7725, 0.7750, 0.7774, 0.7800.
Support levels: 0.7700, 0.7676, 0.7645, 0.7600.

Trading tips

To open new short positions, one can rely on the rebound from 0.7725 as from resistance, with the subsequent breakdown of 0.7700. Take-profit – 0.7645. Stop-loss – 0.7725. Implementation time: 1-2 days.

The breakout of 0.7725 may serve as a signal to new purchases with the target at 0.7774. Stop-loss – 0.7700.

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.

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USD/CHF: the dollar quotes are consolidating around 0.9000 16.06.2021

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 slightly, recovering from yesterday’s decline which was due to the appearance of poor US macroeconomic statistics on the dynamics of retail sales. Market activity remains low, as investors prefer to wait for the publication of the final minutes of the two-day meeting of the US Federal Reserve, which may reflect the gradual transition of the regulator to tightening monetary policy.

The National Bank of Switzerland will also hold a meeting on monetary policy this week. The minutes will be published on Thursday, after the release of the financial stability report and the May export statistics. As in the case of the American regulator, analysts do not expect changes in the course of the Swiss monetary policy but expect to receive a summary of renewed forecasts for the near future.

Support and resistance

On the daily chart, Bollinger bands move flat. The price range remains virtually unchanged but is wide enough for the current level of market activity. MACD grows, maintaining a poor buy signal (the histogram is above the signal line). Stochastic, having approached the level of 80, slightly slowed down its growth, however, it still signals for the development of the "bullish" dynamics in the ultra-short term.

It is better to keep the current long positions in the short-term and/or super-short-term perspective until the signals from technical indicators are clarified.

Resistance levels: 0.9000, 0.9050, 0.9100, 0.9163.
Support levels: 0.8960, 0.8925, 0.8880, 0.8850.

Trading tips

Long positions may be opened after the breakout of 0.9000 with the target at 0.9050. Stop loss – 0.8975. Implementation period: 1–2 days.

Short positions may be opened after the breakdown of 0.8960 with the target at 0.8880. Stop loss – 0.9000.

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.

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EUR/USD: EUR remains under pressure 18.06.2021

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 again demonstrates an attempt at corrective growth against USD during today's trading, recovering after two sessions of active selling, which led the instrument to renewed local lows since April 13.

Investors are still buying USD after the publication of the results of the US Fed meeting, which reflected the gradual tightening of the regulator's position on raising interest rates. According to the published minutes, most of the board members expect two rate hikes in 2023, while previously only 2024 was considered. At the same time, the US Fed is also beginning to discuss the gradual reduction of the quantitative easing program, which is likely to happen before the rate hike.

Macroeconomic statistics from the eurozone released today did not provide significant support to EUR. As expected, the Consumer Price Index in the region slowed down in May from +0.6% MoM to +0.3% MoM. On an annualized basis, consumer inflation continues to remain close to the target level of +2% YoY.

Support and resistance

Bollinger Bands in D1 chart demonstrate a stable decrease. The price range is expanding, but it fails to catch the development of "bearish" trend at the moment. MACD is going down preserving a stable sell signal (located below the signal line). Stochastic maintains a strong downtrend, but reaches zero, signaling oversold EUR in the ultra-short term.

Resistance levels: 1.1950, 1.2000, 1.2050, 1.2100.
Support levels: 1.1900, 1.1834, 1.1800, 1.1758.

Trading tips

The breakdown of 1.1900 may serve as a signal to new sales with the target at 1.1800. Stop-loss – 1.1950. Implementation time: 1-2 days.

To open long positions, one can rely on the rebound from the support level of 1.1900 with the subsequent breakout of 1.1950. Take-profit – 1.2050. Stop-loss – 1.1900.

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.

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USD/CHF: the American dollar develops a confident rally 21.06.2021

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 actively grows, preparing to renew local highs from mid-April.

Market participants react to the minutes of the US Federal Reserve meeting published last week, which reflected a smooth change in sentiment in the US regulator's leadership. Now, the first rate hike is expected in 2023, while some board members are in favor of a reasonable rate hike as early as 2022. Also, the department promised to assess the feasibility of reducing the current quantitative easing program at each of its meetings. The regulator will start tightening monetary policy with this action.

On Monday, European investors await the release of a monthly report from the Bundesbank, as well as a speech by the head of the European Central Bank (ECB) Christine Lagarde, who is likely to try to stabilize the situation in the currency markets.

Support and resistance

Bollinger bands grow steadily on the daily chart. The price range expands but not as fast as the “bullish” sentiments develop. The MACD indicator grows, maintaining a strong buy signal (the histogram is above the signal line). Stochastic, having approached its highs, reversed into a horizontal plane, indicating that USD may become overbought in the ultra-short term.

You should hold the existing long positions until the signals from technical indicators are clarified.

Resistance levels: 0.9244, 0.9300, 0.9350, 0.9400.
Support levels: 0.9200, 0.9163, 0.9100, 0.9050.

Trading tips

Long positions may be opened after the breakout of 0.9244 with the target at 0.9350. Stop loss – 0.9200. Implementation period: 1–2 days.

Short positions may be opened after the rebound from 0.9244 and the breakdown of 0.9200 with a target at 0.9100. Stop loss – 0.9244.

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.

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NZD/USD: the instrument is testing 0.7000 23.06.2021  

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 is trading ambiguously against USD during the Asian session, consolidating near strong resistance at 0.7000.

Investors are fixing short positions in USD, opened on Tuesday, which leads to the emergence of corrective dynamics after the speech of the Chair of the US Fed Jerome Powell in the US Congress. The official reminded about the need for a broader assessment of the current economic situation and noted that the regulator will not rush to raise rates until a large-scale recovery of the labor market.

Some support for the instrument was provided yesterday by the data on Westpac Consumer Survey published in New Zealand. In Q2 2021, the indicator increased from 105.2 to 107.1 points, while the market expected it to decrease to 99.5 points.

Support and resistance

Bollinger Bands in D1 chart demonstrate active decrease. The price range is slightly narrowing from above, being spacious enough for the current activity level in the market. MACD has reversed to growth having formed a new buy signal (located above the signal line). Stochastic is showing similar dynamics, being approximately in the center of its area and indicating further growth of NZD in the ultra-short term.

Current showings of the indicators do not contradict the further development of the uptrend in the short term.

Resistance levels: 0.7050, 0.7100, 0.7125, 0.7163.
Support levels: 0.7000, 0.6950, 0.6913.

Trading tips

To open long positions, one can rely on the rebound from the support level of 0.7000 with the subsequent breakout of 0.7050. Take-profit – 0.7125. Stop-loss – 0.7010. Implementation time: 2-3 days.

The breakdown of 0.7000 may serve as a signal to new sales with the target at 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.

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Results of the April’s Battle of Traders: impressive single-asset portfolios and top-10 traders of the Battle

For many months, NPBFX demo contest has been keeping the trader community interested. For some, The Battle of Traders is an opportunity to win the first real money on trading, someone participates in the Battle to test and improve their trading strategy, but there are also many of those who come for adrenaline and new emotions! Who could show their professional skills and maximize the initial deposit in the April’s Battle? We present you an overview of the results of the Battle of Traders and introduce you to the trading portfolios of the best traders of the month.

In general, 2,112 traders took part in the Battle in April. The first place and the title of the winner was taken by a trader under the nickname Alexey750 (#251424). To win, he closed 36 trades, and his trading portfolio consisted of gold, silver, indices, cryptocurrencies Litecoin, Ethereum, as well as traditional currency pairs. Not all of the transactions were profitable, still, the final result for the month is impressive – trader managed to increase the initial capital of $5000 by almost 3000%!

Almost 100 transactions were closed by the trader viclenp (account #255422) in order to take the 2nd place in the competitive final table. His trading portfolio was dominated by two assets: Bitcoin (BCHUSD) and the German DAX30 index. The trader showed an excellent trading result: 80% of the transactions were profitable!

GBPUSD pair is regularly included in the list of trading assets of the winners and awardees of the Battle of Traders. In April, pound also helped to win the 3rd place for the trader with the nickname GSQ, as 13 out of 14 of his trades were in pound/dollar.

Gold, oil, cryptocurrencies, indices, currency pairs – hungthuy has used various groups of trading assets available on NPBFX MT4. As a result, trader took the 5th prize in the rating. Bitcoin and indices S&P500, STOXX50, DAX30 helped the trader with the nickname maks8913 to achieve success in the Battle as well. Trader with a demo account #254500 has chosen a monoportfolio with the classic EURUSD. In just a month, contestant closed 52 trades. Moreover, trader with the nickname naresh8000pk (account #255573) closed more than 200 transactions in Swiss franc (USDCHF), adding to AUDUSD and NZDUSD.

It should be noted that in April the portfolios of traders from the top-list really turned out to be diverse – with a clear predominance of indices, and a benchmark for cryptocurrencies and metals.

The best traders according to the results of the April’s Battle of Traders, who shared the prize pool of $2500, were the participants with the nicknames: Alexey750, viclenp, GSQ, Rafkat1977, hungthuy, naresh8000pk, LeonFX, maks8913, 222, Waqas93.

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NPBFX congratulates the winners and thanks all traders who took part in the April’s Battle of Traders! Any trader can become a participant of the new Battle, regardless of trading experience and chosen strategy. All you need is to register on the company’s website, set the right goal and show your best skills on a contest demo account!

NPBFX wishes all traders good luck and profitable trades!

Registration for the Battle of Traders is available here.

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NZD/USD: NZD develops a "bullish" momentum 28.06.2021

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 has shown moderate gains against USD in the Asian session, building on the "bullish" momentum it formed last week.

Last Friday, the instrument managed to renew its local highs from June 17, after which it retreated amid corrective closing of most of its long positions. The pressure on the NZD/USD pair was also exerted by the approval of the deal on the modernization of the US infrastructure from Joe Biden in the US Congress. Analysts did not expect any difficulties with voting among congressmen, given the parliament's loyalty to the incumbent.

NZD, in turn, was supported by macroeconomic statistics from New Zealand. Exports in May increased from 5.4B to 5.87B dollars. Imports for the same period also increased from 4.99B to 5.4B dollars, which ultimately led to a slight increase in the trade surplus in May from 414M to 469M dollars.

Support and resistance

Bollinger Bands in D1 chart demonstrate a stable decrease. The price range is narrowing, reflecting a sharp change of trend in the short/middle term. MACD indicator is growing preserving a stable buy signal (located above the signal line). Stochastic retains upward direction but is located near its highs, which indicates the overbought instrument in the ultra-short term.

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

Resistance levels: 0.7100, 0.7125, 0.7163, 0.7200.
Support levels: 0.7050, 0.7000, 0.6950, 0.6921.

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.

A breakdown of 0.7050 may become a signal for returning to sales with target at 0.6950. Stop-loss – 0.7100.

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 NZD/USD and trade efficiently with NPBFX.

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EUR/USD: euro consolidates near 1.1850 5.07.2021  

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 has shown a slight decline against USD during the Asian session, returning to the usual "bearish" trend after last Friday's growth.

The instrument declined at the end of last week, awaiting the publication of the report on the US labor market for June, but after its release, despite moderate optimism from the data, traders began to massively close short positions on EUR. Anyway, the report reflected an increase in Nonfarm Payrolls by 850K in June after rising by 583K in May. Experts expected the growth by 700K only. At the same time, the Unemployment Rate in June unexpectedly rose and reached 5.9%.

In turn, EUR received support from the data on producer inflation. The Producer Price Index in the euro area rose 1.3% MoM in May after rising 0.9% MoM in April. In annual terms, the indicator accelerated from +7.6% YoY to +9.6% YoY.

Support and resistance

Bollinger Bands in D1 chart demonstrate a stable decrease. The price range is narrowing, reflecting the emergence of ambiguous dynamics of trading in the short term. MACD indicator tries to reverse to growth and to form a new buy signal (the histogram should consolidate above the signal line). Stochastic, having reversed near its lows, demonstrates a similar dynamics. Current readings of the indicators signal in favor of a corrective growth in the ultra-short term.

Resistance levels: 1.1900, 1.1950, 1.2000, 1.2050.
Support levels: 1.1846, 1.1800, 1.1758, 1.1700.

Trading tips

To open long positions, one can rely on the breakout of 1.1900. Take-profit – 1.2000. Stop-loss – 1.1846. Implementation time: 2-3 days.

The return of "bearish" trend with the breakdown of 1.1800 may become a signal for new sales with the target at 1.1700. Stop-loss – 1.1846.

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.

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USD/JPY: USD falls ahead of the publication of the Fed's Minutes 7.07.2021  

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 shows a moderate decline against JPY in trading in Asia, updating local lows since June 22.

The development of the "bearish" trend for the instrument is facilitated by yesterday's publication of uncertain macroeconomic statistics from the US, which turned out to be worse than market expectations. The data reflected a further decline in business activity in the services sector in June, although it is still at a fairly high level.

In turn, JPY rose slightly after the publication of data from Japan. In May, Labor Cash Earnings increased by 1.9% YoY, accelerating from +1.4% YoY. Experts expected a slowdown to +1.3% YoY. But today's statistics from Japan turned out to be negative. Leading Economic Index in May slowed down from 103.8 to 102.6 points, and Coincident Index corrected from 95.3 to 92.7 points.

Support and resistance

In the D1 chart, Bollinger Bands are reversing horizontally. The price range is narrowing, pointing to the appearance of multidirectional dynamics of trading in the short term. MACD is going down, keeping a fairly stable sell signal (located below the signal line). Stochastic is showing similar dynamics; however, it is rapidly approaching its lows, which signals the risks of an oversold USD in the ultra-short term.

Resistance levels: 110.81, 111.00, 111.34, 111.70.
Support levels: 110.38, 110.18, 109.83, 109.29.

Trading tips

To open new short positions, one can rely on the breakdown of 110.38. Take-profit – 109.83. Stop-loss – 110.70. Implementation time: 1-2 days.

A rebound from 110.38 as from support followed by a breakout of 110.81 may become a signal for new purchases with the target at 111.34. Stop loss – 110.50.

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.

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“You can earn 5-7% a month on Forex, without constantly checking monitor”. Interview with the winner of the April’s Battle of Traders from Magnitogorsk

He is a successful businessman with clear goals, who is used to rely primarily on himself. He has a favorite job, family and he is really interested in trading, which adds adrenaline to his life and brings additional income. This is how we can briefly describe the winner of the April’s Battle of Traders – Alexei Alexandrovich Bardakov from Magnitogorsk. He has been trading Forex since 2015. He admits that at first it was bumps and bruises, that’s why he wanted to quit trading, but overcame his doubts and came up with his own individual trading strategy. The winner’s trading portfolio includes currency pairs, indices, precious metals, cryptocurrencies. He emphasizes that the market is not limited with EUR/USD, one can earn money using any instruments. Alexey Alexandrovich does not trust analysts too much, relies on his own considerations about the market and predicts an active rise in cryptocurrency prices. Which principles of the winner’s trading strategy can be called fundamental, why monitoring the Battle can not only help the participants, but also prevent their success, as well as how one can earn 5-7% profit per month on Forex – all of these details we present in a big interview with Alexey Alexandrovich. We present you a script of an interesting conversation, from which you can borrow valuable ideas for yourself and achieve the same impressive results on your own trading account.
 
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- Alexey Alexandrovich, please tell us how did you learn about the Battle of Traders and why did you decide to take part in it?

- I know the guys from My Everest project (myeverest.org) for a long time. Following their recommendation, roughly speaking, I found your company. And everything on your webpage is clear and understandable.

- As far as I know, you previously participated in the Battle, but were not among the winners. Did your experience help you to win in April?

- Actually, I took part three times, achieved different results. As you can understand, that this is not an ordinary trade, this is a demo account, therefore, I put all eggs in one basket and took the risk. The first two times I realized that there was a chance to win. The third time I devoted a little more time.

- What did you feel and what were your first words when you knew about your victory in the Battle of Traders? Did you share this news with someone?

- To be honest, the emotions were absolutely positive: I couldn’t say that I was so proud of my trade and myself, but I was very pleased. I took part in the Battle not for the prize, but to understand what niche I could occupy in this traders’ community.
There was no one to share the news with, because I have no friends involved in trading. Nobody would understand me. If a person is not a trader, how can I explain the essence of my victory?

- Alexey Alexandrovich, how long did it take you to register in the Battle of Traders? What’s your feedback about the conditions of the Battle held by NPBFX?

- Speaking about the terms of the Battle, I have nothing to complain about, everything is fair, everything is fine. It took about a minute, probably one and a half to subscribe for the Battle and open a demo account.

- How often did you monitor other participants’ accounts? Was it somehow useful to you?

- Sure, it is very useful. However sometimes monitoring makes everything worse. If, in general, one does not pay attention to the frantic jumps in people’s deposits, then, generally speaking, it can be  helpful. If you chase after someone, then such monitoring interferes more than helps. It depends on the person. It helped me personally. Almost every day, I followed the participants and tracked their trading, how they trade, manually or using automated algorithms.

- You were able to increase your initial deposit of $5000 by 29 times (up to $147,872)! Please tell us more about your trading strategy: what is it based on?

- I probably won’t be able to explain it briefly. In principle, the market conditions are the same for everyone, everyone sees it the same way, but, at that, trades differently. I don't know, maybe my experience helped me, maybe it was my intuition. But intuition can hardly be the key tool, of course, because everything is tough there. Everything is the same as within any other trading strategy – stop loss, take profit. Everything is probably like in classical trading. When I trade on my demo account, I don’t treat thousands of dollars as money. I don’t count $100 as 7,500 rubles: I consider $100 like 100 score units on my deposit. It helps. Honestly, I would never trade like this on a real account. If, according to my strategy, it is clear that there is a 80-90% chance that a trade will be profitable, I can increase the risks, but on real account this risk cannot be more than 5% of the deposit. Well, I have 2% risk per trade. Although I will not say that I wasn’t nervous at all while trading on demo account, I still wanted to win and to not go into the red, this is a competition. Therefore, a certain adrenaline was present, even though it was a demo account.

- During the Battle you made 36 transactions. As can be seen from the statement, you had quite diverse trading portfolio: currency pairs, American and European indices, silver, oil. How do you choose assets for trading?

- It doesn’t matter to me which instrument to choose, if I see what gives me profit, I go into it and buy or sell. Therefore, I do not trade just on EUR/USD. Many traders use just one instrument and then try to catch their goldfish. I observe the whole market, because it is alive, it is dynamic. And it’s not just EUR/USD that can be used in trading. If an instrument allows me to enter the market, I enter. The only exception is that I don’t trade stocks, because I don’t really like gaps there, but any other instruments can be used. I can trade any instrument except stocks.

- You also had transactions with Litecoin and Ethereum. In your opinion, are there any peculiarities in trading crypto? How active are you as a crypto trader?

- I trade cryptocurrency like any asset, because it also functions according to market trends. I entered cryptocurrency market because its conditions were favorable. Still, I am not an active crypto trader, I rarely deal with cryptocurrency on charts, although it also gives me profit. I believe that cryptocurrency will grow, and the levels will be much higher than now, and the price will be even higher.
I have a “cold” wallet: I just buy and hold cryptocurrency. I invested $5000 in cryptocurrency. I started investing in it when cryptocurrency was worth around $6000- $8000. I sold a part for $20,000 and now I'm starting to buy little again. Even if it falls by 2 times from today’s price, then I will not lose much, $5000 max. I doubt that cryptocurrency will leave the market.

- The most profitable trade on your account was 20 lots of silver (XAG/USD) and brought more than $42,000 in profit. Do you use indicators, technical analysis, or ready-made trading indicators to determine the entry point?

- No, I trade only on technical analysis. I don’t have any indicators, I don’t even understand them and I don’t know how they work. I don't use them. There is a trend – I work on it.

- Do you use mobile version of MT4 or trade through the desktop version of the terminal?

- I use mobile version, but I do not trade from it: I track my transactions. If I am unable to approach PC, I track transactions on my mobile phone. After that I close or don’t close, depending on the market conditions.

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

- Specifically, I devoted a lot of time to the last Battle. You can see that the volumes of trades were huge there. Accordingly, you should be extremely precise to cope with such a volume. It was very hard to wait for a profit for transaction with silver, when I saw that the price was already so high. I don't usually enter into transitions like this. Usually the process consists of a trade entry, stop loss and take profit. Then, at most, I can track the progress of my transactions anywhere using my phone. And here I had to spend a lot of time and effort. It was not easy and simple.

- Perhaps you already managed to get acquainted with other popular services of our company, for example, with NPBFX Analytical portal?

- I am not guided by any analytics at all. I would not say that I completely ignore it, but I just do not use it directly in trading. I can pause trading, for instance, for six months, I do not have transactions for six months or a year, so I cannot apply fundamental analysis. That is, an analytical data may be helpful for someone, but not for me. All my trades are short, with a maximum duration of a week. I can take two trades, if it makes sense, and in this case analytics usually is not helpful, when you are told that the euro rate will rise, and you see from technical analysis that it will fall. Such contradictions challenge trading, so I haven’t taken analytics into account for more than two years. That’s it.

- The global economy situation, lockdowns due to the coronavirus pandemic, in your opinion, have somehow changed the structure of financial markets in the last year and a half?

- I do not see any significant changes. The only rumor is that volatility has increased, but it seems to me that it has not. My strategy has not changed. For trade – nothing has changed, for the global economy – maybe there are certain changes.

- $1000 has already been credited to your real NPBFX trading account. Do you plan to conduct the same trading on it as on a demo account in the Battle?

- I think I’ll be more careful. I don’t trade like that on a real account. The first time I participated in your Battle, I lost control and almost lost my real deposit. Of course, I managed to get out from this situation, but that was risky.

- Alexey Alexandrovich, how long have you been trading Forex? How did you study?

- I have been trading for a very long time, 5 years, since 2015. The first time I got more bumps and bruises. There was even a time when I wanted to give up and calm down. Somehow I managed to cope with this feeling. I have been trading on real account and earning real money for the last couple of years. I learned step by step by myself, sometimes I analyzed the experience of other traders. Trading is still an individual matter, everyone builds their own strategy and trades as best they can. There are traders who earn 5-7-10-20% a year, and they are satisfied with it, but for someone 20% a day is not enough.

- In your opinion, what qualities should a person possess to become a successful trader?

- At least – there should be no emotions, everything should be based on a careful thought. You have a strategy and rigid rules. You must obey them, even if you invented them for yourself. If you do not obey, it means that you don’t have a strategy, if there is no strategy, there is no trade. Generally speaking, you should be disciplined, that’s it.

- How would you answer the question: “Today Forex for me is ...?”

- This is not my main profession, but it is an opportunity to make money. But this is not my main occupation. If you want to make good money on Forex, you must dismiss all other activities. If you are satisfied with 2-3% per month, then you can not be distracted from your main work, and 5-7% can be earned without checking up your computer at all. I can do it, however, someone can’t afford that.

- Tell us a little about yourself: what do you do besides trading, what is your profession?

- I am a constructor. I am the CEO of a construction engineering organization. A businessman, in short.

- Please tell me, where are you from, what is the name of the city where you live? How old are you, are you a family man?

- Russia, Magnitogorsk. Yes, I am a family man, I have children. I am 40, I have been trading since 35.

- Do you have any hobbies, besides Forex market?

- My hobby is my job. I love my job, sometimes it doesn't like me very much. I am not the kind of a man who enjoys knitting or collecting stamps.

- Alexey Alexandrovich, would you advise your friends and acquaintances to join the Battle of Traders? Why?

- Probably, I would advise if I had friends who trade.

- What would you like to wish NPBFX and the participants of the next Battle of Traders?

- I would like to wish the participants a victory, because this is so satisfying. Of course everyone there cannot win. But it is possible to win. Really. Without any particular knowledge I took part and first place. I am an ordinary trader, and I will emphasize that trading is not my profession, not my main job. I had a month of vacation, and I subscribed and made certain effort to win. Victory be yours! Stay calm and proceed!

- Alexey Alexandrovich, thank you for participating in the Battle and answering the questions. May your trading on real account with NPBFX be as successful as it was in your contest account in April!
 

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AUD/USD: updating December lows 9.07.2021

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 has fallen tentatively against USD on Friday being near new record lows since December 2020. The instrument lost in value the day before, despite the publication of rather weak statistics on jobless claims in the US, which, in part, was provoked by technical factors of the correction.

The main reason for the sale of AUD was the statements of the Reserve Bank of Australia (RBA) Governor, Philip Lowe, who hastened to calm the markets, agitated by the recent decision of the regulator to cut the quantitative easing program to 4B dollars a week. The official stressed that in the face of existing economic risks, the Australian economy still needs support, and the RBA will try to respond to the changing situation with some anticipation. Lowe also paid special attention to the labor market, noting that the pace of growth in wages has slowed down recently and does not allow inflation to reach target levels.

Support and resistance

Bollinger Bands in D1 chart demonstrate active decrease. The price range is expanding; however, it fails to catch the surge of the "bearish" sentiment at the moment. MACD is going down preserving a moderate sell signal (located below the signal line). Stochastic keeps a confident downtrend but is already approaching its lows, which indicates the risks of oversold instrument in the ultra-short term.

Current showings of the indicators do not contradict the further development of the downtrend in the short term.

Resistance levels: 0.7443, 0.7475, 0.7500, 0.7531.
Support levels: 0.7400, 0.7373, 0.7338, 0.7300.

Trading tips

To open long positions, one can rely on the rebound from the support level of 0.7400 with the subsequent breakout of 0.7443. Take-profit – 0.7531. Stop-loss – 0.7400. Implementation time: 2-3 days.

The breakdown of 0.7400 may serve as a signal to new sales with the target at 0.7300. Stop-loss – 0.7443.

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.

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USD/JPY: US dollar is recovering 12.07.2021  

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

Today, USD is trading in both directions against the Japanese yen, consolidating near 110.00 and developing a weak upward momentum that formed at the end of last week. Despite the general weakness of the American currency in the market, it looks rather confident against the yen.

It is also curious that macroeconomic statistics from Japan, published on Monday, practically do not support the yen. However, the volume of orders for engineering products in May showed an increase of 7.8% MoM after rising by 0.6% MoM last month. Analysts were expecting a rise of only 2.6% MoM. YoY, the indicator added 12.2% YoY after growing by 6.5% YoY in April. Market forecasts assumed a slowdown to 6.3% YoY.

Support and resistance

Bollinger Bands on the D1 chart are reversing horizontally. The price range is widening from below in response to a strong "bearish" surge last week. MACD is going down preserving a stable sell signal (histogram being located under the signal line). Also, the indicator is preparing to test the zero line on the breakdown. Stochastic, having reached its minimum values, reversed upwards, signaling the emergence of corrective growth in the ultra-short term.

To open new transactions, one should wait for additional signals to appear.

Resistance levels: 110.38, 110.81, 111.00, 111.34.
Support levels: 110.00, 109.52, 109.29, 109.00.

Trading tips

To open long positions, one can rely on the breakout of 110.38. Take-profit – 111.00. Stop-loss – 110.00. Implementation period: 1-2 days.

The return of "bearish" dynamics with the breakdown of 110.00 may become a signal to new sales with the target at 109.52 and stop-loss at 110.25.

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.

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USD/CHF: ambiguous trading dynamics 14.07.2021  

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 shows ambiguous trading dynamics, consolidating near the level of 0.9200, which the “bulls” did not manage to consolidate above.

On Tuesday, consumer sentiment for the dollar was supported by statistics on consumer inflation, which showed further growth despite the forecast of a slowdown. The June index accelerated from +0.6% MoM to +0.9% MoM, while analysts expected only +0.5% MoM. Also, the indicator rose from +5% to +5.4% YoY, which also was worse than the market forecasts of +4.9% YoY.

Manufacturing inflation statistics from Switzerland met the expectations of experts. The producer and import price index for June slowed sharply from +0.8% MoM to +0.3% MoM and decreased from +3.2% YoY to +2.9% YoY.

Support and resistance

On the daily chart, Bollinger bands are moving flat. The price range remains practically unchanged but remains spacious enough for the current level of activity. The MACD indicator is going down, maintaining a poor sell signal (the histogram is below the signal line). Stochastic, having retreated from its lows, is rising moderately, signaling in favor of the development of corrective growth in the ultra-short term.

Resistance levels: 0.9200, 0.9237, 0.9273, 0.9300.
Support levels: 0.9153, 0.9100, 0.9050, 0.9000.

Trading tips

Long positions may be opened after the breakout of the level of 0.9200 with the target at 0.9300. Stop loss – 0.9153. Implementation period: 2–3 days.

Short positions may be opened after the rebound from the level of 0.9200 and the breakdown of the level of 0.9153 with the target at 0.9100. Stop loss – 0.9190.

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.

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USD/CAD: the instrument is retreating from local highs 16.07.2021

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 declined, retreating from the local highs from April 21, renewed yesterday.

Investors are in a hurry to close profitable long positions on the instrument, and also react to yesterday's speech by US Federal Reserve Chairman Jerome Powell in Congress, showing some disappointment. The official repeated that the US economy was far from tightening monetary policy, so the market revised its medium-term plans, and even the most daring forecasts now did not imply a reduction in the quantitative easing program until next year.

On Friday, statistics from Canada on the dynamics of wholesale sales for May and the volume of started construction of houses for June will be published. In the US, retail sales data for June will be released. Also, traders are awaiting the publication of the Consumer Confidence Index from the University of Michigan for July.

Support and resistance

Bollinger bands are growing steadily on the daily chart. The price range expands from above, letting the “bulls” renew local highs. The MACD indicator is showing growth, maintaining a relatively strong buy signal (the histogram is above the signal line). Stochastic maintains the upward trend but is rapidly approaching highs, signaling that USD may become overbought in the ultra-short term.

It is better to keep the current long positions until the signals from technical indicators are clarified.

Resistance levels: 1.2600, 1.2650, 1.2700.
Support levels: 1.2554, 1.2500, 1.2439, 1.2400.

Trading tips

Short positions may be opened after the rebound from 1.2600 and the breakdown of 1.2554 with a target at 1.2439. Stop loss – 1.2610. Implementation period: 2–3 days.

Long positions may be opened after the breakout of 1.2600 with the target at 1.2700. Stop loss – 1.2554.

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.

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AUD/USD: AUD hits record lows 19.07.2021

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 has seen a fairly strong decline against USD during the Asian session, hitting record lows since December 7, 2020.

USD continues to gain momentum, despite the fact that macroeconomic statistics and statements by officials do not always contribute to the growth of "bullish" sentiment. In particular, last Friday, the market received statistics on the dynamics of Michigan Consumer Sentiment Index. In July, the indicator unexpectedly fell from 85.5 to 80.8 points, while analysts expected it to rise to 86.5 points.

Last week, the Chair of the US Fed Jerome Powell made a speech, in which he noted that the American economy still needs incentives, and therefore the regulator will not rush to reduce the quantitative easing program, as well as to raise the interest rate.

Macroeconomic background on Monday remains quite calm, so trading activity is likely to remain low.

Support and resistance

Bollinger Bands in D1 chart demonstrate a stable decrease. The price range is expanding, but it fails to catch the development of "bearish" trend at the moment. MACD is declining keeping a weak 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 oversold AUD in the ultra-short term.

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

Resistance levels: 0.7400, 0.7443, 0.7475, 0.7500.
Support levels: 0.7371, 0.7338, 0.7300, 0.7265.

Trading tips

To open new short positions, one can rely on the breakdown of 0.7371. Take-profit – 0.7300. Stop-loss – 0.7410. Implementation time: 1-2 days.

A rebound from 0.7371 as from support followed by a breakout of 0.7400 may become a signal for new purchases with the targets at 0.7475–0.7500. Stop-loss – 0.7350.

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.

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