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[Antony_NPBFX]

AUD/USD: the instrument is growing 14.10.2019

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

The Australian dollar showed strong growth against the US currency on Friday, updating local highs of September 19. The instrument is supported by positive prospects for concluding a trade agreement between the United States and China. On Friday, the first round of new negotiations ended, following which it was decided to postpone the introduction of import duties on Chinese goods until mid-December. Donald Trump said that “the first phase of the deal was completed,” however, the final preparation of documents will take a little more than a month. China, as previously planned, will noticeably increase imports of American agricultural products by 40-50 billion dollars a year. At the same time, the markets were somewhat disappointed by the absence of Huawei situation on the agenda.

Support and resistance

Bollinger Bands in the D1 chart demonstrate flat dynamics. The price range is expanding, reflecting a strong “bullish” impact in the short term. MACD indicator is growing, keeping a stable buy signal (located above the signal line). Stochastic is growing, approaching its highs, signaling about the risks of overbought AUD in the ultra-short term.

One should keep existing long positions in the short and/or ultra-short term.

Resistance levels: 0.6809, 0.6829, 0.6858, 0.6883.

Support levels: 0.6779, 0.6759, 0.6738, 0.6717.

Trading tips

To open long positions, one can rely on the breakout of 0.6809. Take profit — 0.6883 or 0.6900. Stop loss — 0.6779 or 0.6765.

A breakdown of 0.6759 may become a signal to new sales with target at 0.6700 or 0.6669. Stop loss — 0.6790.

Implementation time: 2-3 days.

Use more opportunities of the NPBFX analytical portal: E-book

If you just recently started to be interested in trading on FOREX and would like to deepen your knowledge, an electronic Beginner's Guide to FOREX Trading will be an excellent helper for you here. The book consists of 5 chapters and reflects fundamental concepts of the foreign exchange market to start successful trading. From the main chapters of the E-book you can learn about the concepts and history of FOREX, currencies and trend lines, technical indicators, types of orders, trading on news, psychology of trading, risk management and much more.

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

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

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

 

[Antony_NPBFX]

USD/CHF: USD is strengthening 16.10.2019

Good afternoon, dear forum visitors!

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

Current trend

USD rose against CHF on Tuesday, updating local highs of October 4. The decline in CHF was facilitated by not the most successful macroeconomic statistics from ZEW. German ZEW Economic Sentiments in October showed a decrease from –22.5 to –22.8 points, which, however, turned out to be better than market expectations of –27.0 points. ZEW Economic Sentiment in the euro area fell to –23.5 points from previous –22.4 in October. Investors counted at –33.0 points. Statistics from Switzerland also turned out to be weak. Producer Price Index in September showed a decrease of 0.3% MoM after a decrease of 0.2% MoM last month. Experts expected a decrease of 0.1% MoM. In annual terms, the indicator accelerated its decline from –1.9% to –2.0%, which coincided with the estimates.

Support and resistance

Bollinger Bands in D1 chart show moderate growth. The price range is narrowing, reflecting the appearance of the multi-directional dynamics in recent days. MACD is trying to reverse downwards but it retains its previous buy signal (located above the signal line). Stochastic keeps its upward direction but is approaching its highs rapidly, which reflects risks of the overbought USD in the ultra-short term.

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

Resistance levels: 0.9982, 1.0000, 1.0026, 1.0047.

Support levels: 0.9964, 0.9948, 0.9925, 0.9897.

Trading tips

To open long positions, one can rely on the breakout of 0.9982 or 1.0000. Take profit — 1.0047. Stop loss — 0.9970 or 0.9950.

The breakdown of 0.9964 or 0.9948 may serve as a signal to new sales with target at 0.9897. Stop loss — 0.9982 or 0.9990.

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 USD/CHF and trade efficiently with NPBFX.

 

[Antony_NPBFX]

EUR/USD: the euro is strengthening 18.10.2019

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 rose against USD on Thursday, updating local highs of August 26. EUR was supported by Brexit deal consummation between the EU and Britain. The day before, the head of the European Commission, Jean-Claude Juncker, said that the parties managed to reach a compromise and form an agreement. Later, British Prime Minister Boris Johnson announced the same. However, the detailed text of the agreement was not published and its final version will probably be made public after signing by all EU summit participants today.

The “bullish” trend in the instrument was also facilitated by weak macroeconomic statistics from the USA on industrial production. Industrial Production in September fell by 0.4% MoM after rising by 0.8% MoM a month earlier. Analysts expected a decline of 0.1% MoM. Capacity Utilization for the same period fell from 77.9% to 77.5%, which was also worse than market expectations of 77.7%.

Support and resistance

Bollinger Bands show increase steadily in D1 chart. The price range is expanding from above, but it fails to catch the development of “bullish” trend at the moment. MACD indicator is growing, keeping quite stable buy signal (located above the signal line). Stochastic is directed upwards but is located near its highs, which indicates the overbought euro in the ultra-short term.

Existing long positions should be kept until the situation clears up.

Resistance levels: 1.1138, 1.1163, 1.1200.

Support levels: 1.1100, 1.1074, 1.1050, 1.1023.

Trading tips

To open long positions, one can rely on the breakout of 1.1138. Take profit — 1.1200 or 1.1250. Stop loss — 1.1100. Implementation time: 1-2 days.

The rebound from 1.1138 as from resistance with the subsequent breakdown of 1.1100 can become a signal to new sales with target at 1.1023 or 1.1000. Stop loss — 1.1138 or 1.1163. 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]

AUD/USD: the instrument is rising 21.10.2019

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 grew moderately against USD at the end of last trading week. The instrument is still growing today, but the “bullish” activity is gradually weakening. A more confident growth of AUD is hindered by the publication of not the strongest macroeconomic statistics from China. Last Friday, data on China’s GDP for Q3 2019 reflected a slowdown in the Chinese economy from +6.2% YoY to +6.0% YoY, which turned out to be worse than market expectations of +6.1% YoY. On a quarterly basis, the indicator decreased from +1.6% QoQ to +1.5% QoQ. However, there is still some positive news. In September, Retail Sales in China increased from 7.5% YoY to 7.8% YoY, while Industrial Production growth rates for the same period significantly accelerated from +4.4% YoY to +5.8% YoY with a forecast of +5.0% YoY.

Support and resistance

Bollinger Bands in D1 chart grow actively. The price range is expanding from above; however, it fails to keep up with such an active growth of “bullish” sentiment, which may signal about the development of correctional dynamics. MACD indicator is growing, keeping a stable buy signal (located above the signal line). Stochastic retains upward direction, but is located near its highs, which indicates risks of overbought AUD in the ultra-short term.

Existing long positions should be kept until the situation clears up.

Resistance levels: 0.6864, 0.6883, 0.6900.

Support levels: 0.6829, 0.6809, 0.6779, 0.6759.

Trading tips

To open long positions, one can rely on the breakout of 0.6864. Take profit — 0.6900 or 0.6930. Stop loss — 0.6840 or 0.6830. Implementation time: 1-2 days.

The rebound from 0.6864 as from resistance with the subsequent breakdown of 0.6829 can become a signal to new sales with target at 0.6779 or 0.6759. Stop loss — 0.6864. 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 AUD/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

USD/CAD: the dollar is recovering 23.10.2019

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

Yesterday, the USD/CAD pair was trading in various directions, recovering slightly after the “bearish” start of the week. Correctional growth was facilitated by the strengthening of USD across the entire spectrum of the market, while the macroeconomic background from the USA and Canada remained ambiguous. US Existing Home Sales fell by 2.2% MoM after rising 1.5% MoM last month. Analysts expected a decrease of 0.7% MoM. However, the Richmond Manufacturing Index for October unexpectedly increased from –9 to 8 points with a forecast of –14 points.

Canadian data was no better. Retail Sales for August fell by 0.1% MoM after rising by 0.6% MoM for July. Analysts had expected positive dynamics to remain at +0.4% MoM. Sales excluding automobiles for the same period fell by 0.2% MoM despite the expected growth of +0.1% MoM.

Support and resistance

On the daily chart, Bollinger bands steadily decline. The price range remains spacious and does not contradict the further development of the “bearish” dynamics. MACD gradually reverses upwards; however, it keeps the sell signal (the histogram is below the signal line). Stochastic’s dynamic is similar, recovering from its lows, which indicated that USD was is oversold in the very short term.

It is better to wait for the buy signals from the technical indicators and to close a part of the profitable short positions.

Resistance levels: 1.3100, 1.3132, 1.3170, 1.3192.

Support levels: 1.3070, 1.3040, 1.3000.

Trading tips

Long positions can be opened after the breakout of 1.3132 with the target at 1.3224 or 1.3244. Stop loss – 1.3080. Implementation period: 2–3 days.

Short positions can be opened after the breakdown of 1.3070 with the target at 1.3000. Stop loss – 1.3110. 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]

EUR/USD: the euro is declining 25.10.2019

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 fell significantly against USD on Thursday, updating local lows of October 17. Pressure on the euro was exerted by the results of the ECB meeting, and the publication of macroeconomic statistics on business activity in the euro area. As expected, the European regulator left the interest rate unchanged at 0.00%. Deposit Facility Rate remained at –0.5%. The ECB noted that rates will remain low until clear signals for inflation rise appear. Also, on November 1, the quantitative easing program, which is supposed to help inflation recover in the medium term, will be resumed.

Markit Composite PMI in the euro area in October rose from 50.1 to 50.2 points against the forecast of 50.3 points. German Composite PMI over the same period increased from 48.5 to 48.6 points with a forecast of 48.8 points.

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 is going down keeping a fairly stable sell signal (located below the signal line). Stochastic keeps a confident downward direction but is already approaching its lows, which indicates the risks of oversold euro in the ultra-short term.

Existing short positions should be kept until the situation clears up.

Resistance levels: 1.1113, 1.1138, 1.1163, 1.1178.

Support levels: 1.1074, 1.1050, 1.1023, 1.1000.

Trading tips

To open long positions, one can rely on the rebound from the support level of 1.1074 with the subsequent breakout of 1.1100 or 1.1113. Take profit — 1.1178 or 1.1200. Stop loss — 1.1074 or 1.1060.

The breakdown of 1.1074 may serve as a signal to new sales with the target at 1.1000. Stop loss — 1.1113.

Implementation time: 2-3 days.

Use more opportunities of the NPBFX analytical portal: economic calendar

Be ready for any market changes through global events using the economic calendar on the NPBFX portal. The calendar contains all the most important events of the world economy and prognoses for them. In order to get free and unlimited access to the economic calendar and other useful instruments on the portal, you need to pass a one-time registration on the NPBFX website.

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

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

 

[Antony_NPBFX]

XAU/USD: gold prices are consolidating 28.10.2019

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 grew moderately last Friday, updating local highs of October 3. The instrument was supported by continuing uncertainty regarding the prospects for the global economy development. The situations with Brexit and trade negotiations between the USA and China are still far from being resolved, which forces investors to reduce investments in risky assets. Nevertheless, gold failed to consolidate at the new local highs, and by the end of trading session on Friday, USD almost completely regained its losses, which was most likely caused by a number of technical reasons.

An additional “bearish” factor for the dollar is the expectation of a new reduction in the interest rate by the US Federal Reserve at a meeting on October 30. According to current expert estimates, the rate at the October meeting can be reduced from 2.00% to 1.75%.

Support and resistance

Bollinger Bands in the D1 chart demonstrate flat dynamics. The price range is slightly expanding from above, limiting further uptrend development in the short term. MACD is growing, keeping a weak buy signal (located above the signal line). The indicator is also trying to consolidate above the zero level. Stochastic, having approached its highs, reversed into the horizontal plane, reacting to the correctional sentiment of last week.

To open new positions, it is necessary to wait for the updated trade signals to appear.

Resistance levels: 1510.11, 1517.66, 1523.95, 1535.39.

Support levels: 1500.00, 1490.81, 1480.57, 1473.73.

Trading tips

To open long positions, one can rely on the breakout of 1510.11. Take profit — 1530.00 or 1535.39. Stop loss — 1500.00.

A breakdown of 1500.00 may be a signal for new sales with target at 1480.57 or 1473.73. Stop loss — 1510.11.

Implementation time: 2-3 days.

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

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

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

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

 

[Antony_NPBFX]

The Results of the September Battle: Figures, Winners, and Prizes!

September has always been the beginning of the season in the financial world. After the summer break, private investors return to the markets and major players become more active. Since the beginning of September, interest in the Battle of Traders contest has also increased. Thus, 1827 traders participated in the Battle which is more than 12% higher than the average summer period. There are many participants from across Europe, Asia, and even Egypt which is partially located on the African continent.

As for the results in figures, 84% of the contest’s participants had a positive balance. It is worth noticing that in September as many as 126 participants could claim victory! This is the exact number of traders who managed to fulfill the contest terms and conditions: they increased the initial deposit by at least 30% and closed at least 10 deals during the contest.

Who was the most successful and got lucky? According to the results of September, the following participants get the money prizes from NPBFX: Ryonkarom, andrei39, XpProject, Sokol, Bandito, ximic2, X979, TCN55, Aziz0992, Conquer.

The leader of the contest table is Ryonkarom (account number 137802). A trader from Indonesia. The interview with the winner is already been prepared. Soon you’ll be able to learn more about the trading strategy and the formula of the winner’s success.

Each participant of the Battle independently decides which trading strategy to choose: algorithmic trading systems, scalping, locked position, buy/sell large lots of assets. The NPBFX encourages the participants to use any trading strategy and offers a full list of available trading instruments on STP accounts: currencies, precious metals, CFD-contracts, cryptocurrencies. Sign up for the contest, experience the spirit of professional struggle, feel the vibes of victory and win the grand prize of October - the brand-new iPhone 11 Pro by Apple which has been recently released!

NPBFX thanks all participants of the September Battle of Traders contest and congratulates the winners of the month!

Sign up for the October Battle of Traders contest

 

[Antony_NPBFX]

He manually opened 705 deals via MT4 mobile terminal and won the contest! Introducing the interview about the incredible success story of a trader from Indonesia

Having a desired goal and control over risks and emotions are often crucial to succeed at Forex. The success story of the today’s winner could be the scenario for a new motivational film about trading. Waryono – the winner of the September Battle of Traders contest – would definitely get the leading role. His name consists of one word, there is no surname or patronymic, which is quite unusual for Europeans. However, in Indonesia, it’s common. Waryono is 36 years old, married and has two children. Every day he sells children toys on the streets of his hometown - Purwokerto. In 2017, he decided to become a trader and, looking back, calls himself a self-taught, as all the wisdom of trade he learned by himself. For 2 years Waryono has been honing his skills on demo accounts. When signing up for the Battle, he set a clear goal to win and get the prize of $1000 and start trading on a real account. What a surprise it is to find out that the winner does not have a personal computer or a laptop. He made all transactions (705 to be exact!) manually, using the mobile terminal MT4 provided by NPBFX for Android! We congratulate the winner and invite you to get to know him better. Read about the secret of the winner’s trading strategy, where stop-loss matters, and very much more in the interview below.

- Waryono, could you tell us how you learned about the Battle of Traders contest and why did you decide to take part in it?

- I learned about NPBFX from my friends who had registered with NPBFX before and participated in the Battle of Traders as they were not ready to trade on real accounts.

- What was your initial goal? Did you expect to take the 1st place?

- Yes I did, I set myself the goal to win as I wanted to try to trade on a live account using the prize money.

- What were your first words and emotions when you learned that you had won the Battle? Did you share this news with someone?

- I was very excited and grateful. The persons I usually share the joyful news with and to whom I told about the victory were my wife and friends.

- Waryono, you have gone through all the stages of the contest: from registration to the victory and getting the prize - $1000. What can you say about the organization of the contest, its terms and conditions, monitoring?

- In my opinion, registration, terms and conditions of the contest are quite simple. Everything is organized well.

- In September, you achieved an excellent trading result by increasing your initial deposit of $5000 by 41 times (up to $208,322) in just one month! What trading strategy did you use? What is its essence?

- Chiefly, I use scalping and stop-loss when it’s profitable to avoid the risk in case of a potential loss in the reverse course of the market.

- The total number of trades in your account is 705. Did you use an automated Expert Advisor or did you trade manually?

- I always open all trades manually. I never use any advisors or robots.

- Your trading portfolio mainly consisted of currency pairs of a major group. At the same time, a significant part of transactions in your account was in gold. Why did you choose gold for trading in NPBFX?

- Analyzing the market, I can see that the price of gold is really high, and when the price rises, I sell, and when the price of gold falls, I buy.

- Have you ever traded in cryptocurrencies (Bitcoin, etherium, etc.)?

- No, I have never traded in cryptocurrency.

- Do you have MetaTrader 4 mobile terminal installed on your smartphone or do you prefer only a desktop version for competitive trading?

- I use only the mobile terminal for Android, because I do not have a PC or a laptop.

- Waryono, did you use online monitoring during the contest? How useful was the monitoring for you?

- Sure, it was quite useful, as I was able to get to know the places of other participants, especially those below me.

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

- I can’t say for sure because I mostly trade at night.

- What traits of your character helped you to achieve success and become the winner?

- Ability to follow the timing, emotions control, risk management. When the situation is favorable for me, I always use stop-loss to avoid losses. This skill has helped me out many times.

- If one of the beginners or experienced traders wants to repeat your trading strategy on your account, what advice will you give?

- My advice to colleagues who want to try to follow my strategy is to always use stop-loss when a situation is favorable to avoid possible losses.

- 1000$ has already been credited to your NPBFX live account. Are you planning to trade using the same strategy as you did on a demo account?

- Maybe I’ll try the same strategy, but probably I’ll use another one. It depends on the market.

- Waryono, we would like to know more about you as a trader: how long have you been trading at Forex? Why did you decide to trade?

- I started trading in the middle of 2017 and from that moment I have often participated in demo contests with other brokers.

- How has your professional path been developing? How did you learn how to trade (independently from books, courses, videos)?

- I am a self-taught and studied everything myself, analyzing time frames from M1, M15, H1, D1, W1.

- What is your crowning achievement at Forex today?

- The main results at Forex today include only the results of participation in demo contests.

- Tell us a little more about yourself: where are you from, what is the name of the city (village) you live in? How old are you, are you a family man, what are your hobbies? What is your profession?

- I live in Purwokerto, I am 36 years old, married and have two children. I sell children toys on the street every day.

- Waryono, how popular Forex is in Indonesia? Are the people of your country interested in earnings in the financial markets?

- There are quite a lot of people in Indonesia who know about and are interested in the Forex market, and I believe there will be even more opportunities in 2020.

- Would you recommend your friends to join the Battle of a Trader contest? Why?

- Definitely! This is a good contest which provides good opportunities.

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

- My advice to the participants of the next contests is to use stop-loss and analyze the market before making a trade, because it is important for any strategy of each trader.

- Thank you for participating in the contest and for the interview!

Aspiration to the goal and adherence to the strategy have led Waryono to the 1st place in the contest. May the new stage of professional path in trading on a live account lead the winner to the conquest of new financial peaks together with NPBFX!

 

[Antony_NPBFX]

WTI Crude Oil: oil prices are going down 01.11.2019

Good afternoon, dear forum visitors!

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

Current trend

Oil prices showed negative dynamics on Thursday, responding to the publication of weak macroeconomic statistics from China and remained under pressure from data indicating a sharp increase in US crude oil inventories. Chinese Manufacturing PMI showed a decline in October for the sixth time in a row, which casts doubt on the hope of an early recovery in demand for oil. The market also reacted negatively to the cancellation of the APEC summit in Chile, at which it was planned to sign the final agreement between the United States and China. Today, investors will be focused on the October report on the US labor market. In addition, investors are waiting for Baker Hughes US Oil Rig Count.

Support and resistance

Bollinger Bands in the D1 chart demonstrate flat dynamics. The price range is narrowing, reflecting the emergence of ambiguous dynamics of trading in the short term. MACD is declining keeping a weak sell signal (located below the signal line). In addition, the indicator is trying to consolidate below the zero level. Stochastic is declining, rapidly approaching its lows, indicating the risks of oversold instrument in the ultra-short term.

Existing short positions should be kept until the situation clears up.

Resistance levels: 54.93, 55.89, 56.82.

Support levels: 54.00, 53.62, 52.83, 51.84.

Trading tips

To open long positions, one can rely on the breakout of 54.93. Take profit – 56.50 or 56.82. Stop loss – 54.20 or 54.00.

A breakdown of 54.00 may be a signal for new sales with target at 52.50 or 52.00. Stop loss – 54.50 or 54.70.

Implementation time: 2-3 days.

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

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

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

Use the current recommendations of analysts on WTI Crude Oil and trade efficiently with NPBFX.