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[Antony_NPBFX]

USD/JPY: USD is strengthening 02.12.2020

Good afternoon, dear forum visitors!

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

Current trend

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

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

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

Support and resistance

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

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

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

Trading tips

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

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

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

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

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

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

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

 

[Antony_NPBFX]

GBP/USD: GBP resumes growth 04.12.2020

Good afternoon, dear forum visitors!

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

Current trend

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

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

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

Support and resistance

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

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

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

Trading tips

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

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

Use more opportunities of the NPBFX analytical portal: analytics

You can find more actual analytical reviews on other popular currency pairs, metals and CFDs on the NPBFX online portal. Daily analytics with charts, current market prognoses and trading scenarios in the Feed section are available. Get free and unlimited access to the online portal after registering on the official website of NPBFX Company.

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

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

 

[Antony_NPBFX]

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

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

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

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

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

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

Sign up for the Battle of Traders right now.

 

[Antony_NPBFX]

NZD/USD: NZD is recovering 09.12.2020

Good afternoon, dear forum visitors!

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

Current trend

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

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

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

Support and resistance

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

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

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

Trading tips

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

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

Use more opportunities of the NPBFX analytical portal: glossary

Beginning traders certainly face a lot of specialized concepts and lexicon on FOREX, which are often not fully been understood. Swap, tick, hedge, margin calls are often unfamiliar to beginning traders. But the lack of knowledge of these fundamentals make a competent market vision impossible. So glossary on the NPBFX analytical portal could be an excellent helper in this case, which contains all the main definitions with explanations in a compact and accessible form. All concepts are arranged in alphabetical order, so that you can easily and quickly find and explore a new concept for yourself.

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

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

 

[Antony_NPBFX]

GBP/USD: GBP remains under pressure 11.12.2020

Good afternoon, dear forum visitors!

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

Current trend

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

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

Support and resistance

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

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

Trading tips

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

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

Use more opportunities of the NPBFX analytical portal: economic indicators

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

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

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

 

[Antony_NPBFX]

Brent Crude Oil: prices are recovering 14.12.2020

Good afternoon, dear forum visitors!

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

Current trend

Today, during the Asian session, oil prices are showing upward dynamics, trying to consolidate above the psychological level of $50 per barrel. The instrument dropped slightly at the end of the last trading week, however, it was caused by technical factors.

The quotes are strongly supported by optimism regarding vaccines against COVID-19. Last weekend, it became known that the US Food and Drug Administration (FDA) noted the advantage of the vaccine from Pfizer and approved its use for the population over 16 years old. A vaccination campaign is expected to start soon in the US, which will strengthen the market's confidence that the next year can be survived without new lockdowns.

Meanwhile, Baker Hughes' report on active oil platforms in the US, released on Friday, again reflected a solid increase from 246 to 258 units.

Support and resistance

On the daily chart, Bollinger Bands reverse into a horizontal plane. The price range is expanding from above but not as fast as the “bullish” dynamics develop. The MACD indicator is growing, maintaining a poor buy signal (the histogram is above the signal line). Stochastic, without reaching the overbought area, reversed into a horizontal plane near the level of 80, indicating the ambiguous nature of the last days' trading.

The current readings of technical indicators do not contradict the further development of upward dynamics.

Resistance levels: 51.07, 52.00, 53.00.
Support levels: 50.00, 49.07, 48.40, 47.50..

Trading tips

Long positions may be opened after the breakout of 51.07 with the target at 53.00. Stop loss – 50.00. Implementation period: 2–3 days.

Short positions may be opened after the breakdown of 49.07 with the target at 47.50. Stop loss – 50.00.

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

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

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

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

 

[Antony_NPBFX]

EUR/USD: euro is near record highs 16.12.2020

Good afternoon, dear forum visitors!

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

Current trend

Today during the Asian session, the EUR/USD pair is growing slightly, gradually returning to the previous record highs around 1.2174.

USD weakens amid optimism about COVID-19 vaccinations, actively starting around the world. The process may begin in the US soon, as the Food and Drug Administration (FDA) recently approved the use of Pfizer and BioNTech vaccines. Yesterday, it became known that the FDA is preparing to publish the results of the third phase of clinical trials of the vaccine from Moderna, which can also be interpreted as the first step towards its approval for emergency use in the country. Meanwhile, the epidemiological situation in the US remains difficult. Earlier, the mayor of New York expressed the idea of returning the city to a full-fledged quarantine in response to a sharp increase in the case number.

On Wednesday, European investors are focused on the block of macroeconomic statistics on business activity in Germany and the EU. Analysts predict the data to be poor, so there is no expectation of noticeable growth in the single currency.

Support and resistance

On the daily chart, Bollinger bands actively grow. The price range narrows, indicating the emergence of flat dynamics in the short term. MACD grows but keeps a sell signal (the histogram is below the signal line). Stochastic grows but rapidly approaches its highs, indicating that EUR may become overbought in the ultra-short term.

Resistance levels: 1.2200, 1.2243, 1.2270, 1.2300.
Support levels: 1.2150, 1.2087, 1.2039, 1.2000.

Trading tips

Long positions may be opened after the breakout of 1.2200 with the target at 1.2300. Stop loss – 1.2150. Implementation period: 2–3 days.

Short positions may be opened after the breakdown of 1.2087 with the target at 1.2000. Stop loss – 1.2150.

Use more opportunities of the NPBFX analytical portal: economic indicators

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

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

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

 

[Antony_NPBFX]

USD/JPY: dollar is correcting 18.12.2020

Good afternoon, dear forum visitors!

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

Current trend

Today during the Asian session, the USD/JPY pair grows confidently, recovering from the record lows, renewed yesterday.

Also to technical factors supporting the dollar at the end of the week, the Food and Drugs Administration's readiness to approve Moderna's COVID-19 vaccine affects it positively. However, US macroeconomic statistics often come out worse than market forecasts, and it puts additional pressure on USD. So, yesterday, investors negatively met an increase in Initial Jobless Claims, as well as a sharp drop in the dynamics of Retail Sales. For November, the indicator fell by 1.1% MoM after falling by 0.1% MoM last month. Investors expected negative dynamics at the level of –0.3% MoM.

The Japanese yen, in turn, is under moderate pressure after the meeting of the Bank of Japan on Friday. As expected, the Japanese regulator did not change the monetary policy parameters but extended the terms of its program for the buyback of commercial paper by six months until September 2021.

Support and resistance

On the daily chart, Bollinger bands actively decline. The price range widens from the bottom, reflecting continued “bearish” potential in the short term. MACD reversed towards growth but keeps its sell signal (the histogram is below the signal line). Stochastic shows similar dynamics, retreating from its lows and signaling in favor of the development of corrective growth in the ultra-short term.

Resistance levels: 103.64, 103.90, 104.20, 104.50.
Support levels: 103.35, 103.00, 102.80.

Trading tips

Long positions may be opened after the breakout of 103.64 with the target at 104.20. Stop loss – 103.35. Implementation period: 2–3 days.

Short positions may be opened after the rebound from 103.64 and the breakdown of 103.35 with the target at 102.80. Stop loss – 103.64.

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

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

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

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

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

 

[Antony_NPBFX]

USD/CAD: the pair actively grows 21.12.2020

Good afternoon, dear forum visitors!

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

Current trend

The USD/CAD pair actively grows, trading at the level of 1.2840.

Since the opening of the trading session, USD has maintained a positive impulse formed on Friday and is winning back losses against CAD. Experts say that one of the main reasons for the positive dynamics is the noticeable progress in negotiations on the budget and additional financial incentives for $900 billion. Today, the negotiations will continue as usual, as Donald Trump signed a decree extending funding for another day.

CAD is trading at fairly stable levels. However, according to the latest data, the economic recovery may take longer than expected. It was announced during a press conference by the Governor of the Bank of Canada Tiff Macklem. The main reason is closed borders and increased purchase prices for imports. According to published statistics, Canada's fiscal balance stood at –216.62 billion Canadian dollars versus –198.11 billion in early fall, while the core retail sales index for October reached 0.0%, down from 1.0% for September.

Support and resistance

Locally, the price broke through the resistance line of the local downtrend and confidently consolidated above it. Technical indicators issued a new local buy signal. Fast EMAs on the Alligator indicator crossed the signal one upwards, and the AO oscillator histogram moved into the positive zone.

Resistance levels: 1.2870, 1.3090.
Support levels: 1.2770, 1.2690.

Trading tips

After growth or consolidation above the local resistance level at 1.2870, buy positions with the target at 1.3090 are relevant. Stop loss is 1.2800. Implementation period: 7 days or more.

After reversal and decline or consolidation below the local support at 1.2770, sell positions with the target at 1.2690 are relevant. Stop loss is 1.2800.

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]

GBP/USD: the pair is correcting 23.12.2020

Good afternoon, dear forum visitors!

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

Current trend

The pair is showing a lateral trend, located at 1.3400.

Trading on the instrument is characterized by strong volatility amid the situation around Brexit. Despite the fact that the final deadline for agreeing a trade deal between the UK and the EU comes only on December 31, one can already say that the negotiations have failed. However, the parties made solid steps towards each other: London reduced the amount of the required compensation from 50% to 35%, and the EU increased its proposal from 12% to 25%.

Another factor influencing the volatility of the pair was the macroeconomic data from the UK and the US. The adjusted GDP of Great Britain in Q3 2020 reached 16.0% against the expected 15.5%, and the GDP of the USA in the same period amounted to 33.4%, which is better than the projected 33.1%. It is also worth noting the growth in the Total Business Investment in the UK by 9.4% against the forecast of 8.8%.

Support and resistance

The pair continues to trade within the local ascending channel, correcting upwards after a significant decline. Technical indicators are still in a state of global purchase. The fast EMAs on the Alligator indicator have crossed, and the AO oscillator histogram is trading in the positive zone.

Resistance levels: 1.3470, 1.3580.
Support levels: 1.3220, 1.2900.

Trading tips

If the asset reverses and continues growing and the price consolidates above the local resistance level of 1.3470, long positions will be relevant with target at 1.3580. Stop-loss – 1.3400. Implementation time: 7 days and more.

If the asset continues to decline and the price consolidates below the local support at 1.3220, short positions can be opened with the target at 1.2900. Stop-loss – 1.3300.

Use more opportunities of the NPBFX analytical portal: economic indicators

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

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

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