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[Antony_NPBFX]

USD/CHF: USD wins back its losses 10.03.2021

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

USD is recovering against CHF during today's Asian session, recouping losses on Tuesday, when USD showed a decline across almost the entire spectrum of the market, responding to the correction in US bond yields. Macroeconomic statistics from Europe published yesterday did not have a noticeable impact on the instrument's dynamics. Eurozone GDP in Q4 2020 decreased by 0.7% QoQ after declining by 0.6% QoQ according to previous results. In annual terms, the rate of decline in the region's economy was revised from –5% YoY to –4.9% YoY.

Today, investors are focused on statistics from the US on the dynamics of consumer prices in February. Analysts do not expect a significant increase in inflation, but the indicators are extremely important, since they are used by the US Fed to determine the vector of monetary policy.

Support and resistance

Bollinger Bands in D1 chart show stable growth. The price range is slightly narrowed from below, being spacious enough for the current activity level in the market. MACD is reversing downwards forming a new sell signal (trying to consolidate below the signal line). Stochastic is showing similar dynamics, retreating from its highs, indicating the overbought USD in the ultra-short term.

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

Resistance levels: 0.9300, 0.9350, 0.9400, 0.9450.
Support levels: 0.9250, 0.9200, 0.9163, 0.9126.

Trading tips

To open new short positions, one can rely on the breakdown of 0.9250. Take-profit – 0.9163. Stop-loss – 0.9300. Implementation time: 1-2 days.

The return of the "bullish" trend to the market with the breakout of 0.9350 may become a signal for new purchases with the target of 0.9450. Stop-loss – 0.9300.

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

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

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

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

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

 

[Antony_NPBFX]

GBP/USD: GBP is testing 1.4000 12.03.2021

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 slightly declining against USD during today's morning session, having managed to update local highs since March 4 and touch the level of 1.4000.

The pair is under pressure from strong statistics on the dynamics of jobless claims, published in the US the day before. For the week ending March 5, the number of initial jobless claims decreased from 754K to 712K, which turned out to be better than the expected 725K. The number of continuing jobless claims fell from 4.337M to 4.144M, also beating forecasts of 4.22M.

Investors are reluctant to open new positions on the instrument, preferring to wait for the release of macroeconomic data from the UK on industrial production and GDP dynamics for January.

Support and resistance

In the D1 chart, Bollinger Bands are reversing horizontally. The price range is gradually narrowing from above, reflecting the emergence of ambiguous dynamics in the short/ultra-short term. MACD has reversed to growth having formed quite a strong buy signal (located above the signal line). Stochastic keeps its upward direction but is rapidly approaching its highs, which reflects the risks of overbought GBP in the ultra-short term.

Resistance levels: 1.4000, 1.4050, 1.4100, 1.4150.
Support levels: 1.3924, 1.3857, 1.3800, 1.3760.

Trading tips

To open long positions, one can rely on the breakout of 1.4000. Take-profit – 1.4100. Stop-loss – 1.3950. Implementation time: 2-3 days.

A rebound from 1.4000 as from resistance, followed by a breakdown of 1.3924 may become a signal for new sales with the target at 1.3800. Stop-loss – 1.4000.

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.

 

[Antony_NPBFX]

USD/JPY: return to the record highs 15.03.2021

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 continues to rally against JPY during today's morning session, trading near record highs and again trying to consolidate above the psychological level of 109.00. USD is in high demand amid yet another rise in the yield on US Treasury bonds. In addition, low demand for safe assets puts additional pressure on JPY.

Macroeconomic statistics from Japan published today does not have a significant impact on the dynamics of the instrument. Machinery Orders in Japan in January decreased by 4.5% MoM after growth by 5.2% MoM in the previous month. Analytical forecasts assumed a decrease in the indicator by 5.5% MoM. On an annualized basis, the indicator slowed sharply from +11.8% YoY to +1.5% YoY, which nevertheless was better than the negative forecasts of analysts at –0.2% YoY.

Support and resistance

Bollinger Bands in D1 chart show stable growth. The price range is narrowing, reflecting ambiguous dynamics of trading in the short term. MACD indicator is growing preserving a weak buy signal (located above the signal line). Stochastic reversed upwards again after a short decline last week. The indicator readings continue to indicate that USD is overbought in the ultra-short term.

Current showings of the indicators do not contradict the further development of the "bullish" trend in the short term.

Resistance levels: 109.37, 109.84, 110.23.
Support levels: 109.00, 108.63, 108.15, 107.78.

Trading tips

To open long positions, one can rely on the breakout of 109.37. Take-profit – 110.23. Stop-loss – 108.85. Implementation time: 1-2 days.

A rebound from 109.37 as from resistance, followed by a breakdown of 109.00 may become a signal for new sales with the target at 108.15. Stop-loss – 109.50.

Use more opportunities of the NPBFX analytical portal: economic indicators

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

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

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

 

[Antony_NPBFX]

XAU/USD: awaiting the Fed meeting minutes 17.03.2021

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 are showing moderate gains during today's morning trading session, recovering to local highs since March 1, updated the day before.

Investors are in no hurry to open new trading positions, preferring to wait for comments from the US Federal Reserve, whose minutes will be published today. It is expected that the American regulator will not change the parameters of monetary policy, and will also reiterate its commitment to low interest rates for a long time. To assess the prospects for changing the vector of monetary policy, employment indicators are used, as well as the current dynamics of inflationary pressures in the market, taking into account the size of the economic stimulus program from President Joe Biden.

Gold is slightly supported by stabilization of US bond yields, which, however, continue to remain near record highs.

Support and resistance

In the D1 chart, Bollinger Bands are reversing horizontally. The price range is narrowing from above, reflecting the multidirectional dynamics of trading in the short 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 risks of overbought gold 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: 1741.02, 1753.57, 1769.59, 1800.00.
Support levels: 1720.00, 1703.07, 1687.15, 1675.00.

Trading tips

To open long positions, one can rely on the breakout of 1741.02. Take-profit – 1769.59. Stop-loss – 1725.00. Implementation time: 1-2 days.

A rebound from 1741.02 as from resistance, followed by a breakdown of 1720.00 may become a signal for new sales with the targets at 1687.15–1675.00. Stop-loss – 1741.02.

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]

GBP/USD: return to the previous levels 19.03.2021

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 showing ambiguous performance against USD today, consolidating around 1.3920.

Market activity is gradually decreasing, and investors are trying to fix their profits after a number of publications and events during the week. The decision of the Bank of England on the interest rate released on Thursday had practically no effect on the dynamics of the instrument, which still reacts to the yield of American bonds. The board members of the British regulator once again voted unanimously to keep the current rate at 0.1%. The volume of the quantitative easing program also remained unchanged at GBP 895B.

Insignificant support for GBP on Friday was provided by the data on the level of consumer confidence in the UK in March. According to data from Gfk, the Consumer Confidence index rose from –23 to –16 points, which turned out to be better than forecasts at the level of –20 points.

Support and resistance

Bollinger Bands in D1 chart demonstrate flat dynamics. The price range is narrowing from above, reflecting the emergence of ambiguous dynamics in the short term. MACD is declining keeping a weak sell signal (located below the signal line). Stochastic, on the other hand, maintains an uptrend and reacts very slowly to the appearance of "bearish" trend in the last few days.

To open new positions, it is necessary to wait for the trade signals to become clear.

Resistance levels: 1.3924, 1.4000, 1.4050, 1.4100.
Support levels: 1.3857, 1.3800, 1.3760, 1.3700.

Trading tips

The breakdown of 1.3857 may serve as a signal to new sales with the target at 1.3760. Stop-loss – 1.3900. Implementation time: 1-2 days.

To open long positions, one can rely on the rebound from the support level of 1.3857 with the subsequent breakout of 1.3924. Take-profit – 1.4050. Stop-loss – 1.3857.

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.

 

[Antony_NPBFX]

“High volatility pairs should be used in the Battle”. Interview with the winner of the January’s Battle of Traders held by NPBFX

$95,000 profit on one DAX30 transaction and a total result of over $ 250,000 on the account in just a month! The winner of the Battle, Arkady Avvakumov from Chisinau, explains that the reason for such impressive trading success in January is 15 years of experience in Forex, wonderful conditions of the Battle and good luck. He is not used to giving up and deliberately focused on reaching the goal of not only becoming the leader of the Battle, but also getting the super prize – the latest iPhone 12 Pro. Arkady professionally closed all Bitcoin transactions on his account with a plus balance. He is comfortable trading on the desktop version of MetaTrader 4 terminal, and relies on technical analysis for carrying out market forecasting.

Why does the winner think that the competitive trading portfolio should consist of high volatility instruments? And what can we expect from Bitcoin? You will find answers to these and other questions in the interview.

- Arkady, please tell us how you learned about the Battle of Traders and why you decided to take part in it?

- On the Internet, of course, at some forum, as far as I remember. It became interesting to take part in the Battle.

- You have already participated in the competition, as I know, but did not reach the top places. What helped you move on, struggle for victory?

- I think I was lucky. Luck helped, I guess. I don’t like to give up.

- What were the first words and emotions when you found out that your account was the winner of the Battle in January, among 2389 participants?

- I don't remember, but it was great!

- Did you share this news with someone?

- Well, of course, I shared it with my family. When they knew about it, they were glad, this news were pleasant for them as well.

- Arkady, how long did it take you to register for the Battle of Traders? What you can generally say about the conditions of NPBFX’s Battle?

- Everything is pretty quickly. In general, there are no complaints about the Battle, on the contrary, it is very great that it is being held.

- You closed 64 transactions in January. At the same time your trading portfolio includes 4 instruments: gold, bitcoin, index DAX30 and currency pair USD/ZAR. Can you please share what is the essence of your trading strategy?

- In the contest you want to use currency pairs with higher volatility otherwise you won’t get far.

- You have shown an excellent trading result: the initial deposit of $ 5000 in your account was increased by 50 times (up to $251 413)! According to the rules of the Battle, NPBFX awards you not only with $1000, but also with a super prize – the latest iPhone 12 Pro! Was it your plan to get an iPhone, or was it just a pleasant surprise?

- I have done it on purpose.

- The most profitable trade was the last trade carried out on January 29 at DAX30. It was opened for 100 lots and brought you more than $95,000 in profit. Could you tell me, do you use technical or fundamental analysis for market forecasting?

- Technical one.

- Recently, there has been a growing interest in crypto trading on financial markets. All your bitcoin trades on the competition account were profitable. How do you assess the trading conditions for cryptocurrencies at NPBFX and what are the prospects for bitcoin?

- The conditions, as I said, are wonderful. I really like them. It is difficult to say about the prospects for bitcoin. To my mind, volatility trend will continue.

- You have also actively traded the USD/ZAR (US Dollar/South African Rand) currency pair. What is the reason for your interest in this exotic instrument?

- I am watching its performance, it has high volatility.

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

- Desktop one, using a phone for that is uncomfortable for me.

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

- Very helpful. I often turned to monitoring, and in general it was interesting to see how people trade.

- What qualities should a trader have in order to become a professional and achieve financial success?

- That’s a very difficult question. To be honest, I don’t know a professional who would consistently make money on Forex.

- For more than a year, the global economy has been affected by the coronavirus pandemic. Did Forex market somehow change during this time, in your opinion?

- Yes, it is constantly changing, it's hard for me to say the real reasons for that, it can be either the virus, or something else.

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

- Probably not. We need to have certain precautions.

- Arkady, tell us a little about your career path: how long have you been trading Forex? What’s your educational background?

- I’ve been trading for a long time. About 15 years ago, probably, I got acquainted with Forex. Studying? I have been studying for all these 15 years.

- What do you do outside of trading, what is your profession?

- There were many professions, I am almost a pensioner, this year I am retiring.

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

- I live in Moldova, the city of Chisinau. Wife, son, two granddaughters, I’m 62 years old. My hobby is fishing.

- How popular is trading on financial markets in your country?

- Yes, popular, as elsewhere, probably. You must better know where your traders are from.

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

- I would recommend. Your competition is one of the best.

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

- Victories for the participants, and new heights for the broker.

- Thank you for participating in the Battle and answering the interview questions. Let your NPBFX real account trade be as successful as it was on your contest account in January!

 

[Antony_NPBFX]

XAU/USD: gold resists bond rally 22.03.2021

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 quotes are correcting upwards, trading at $1,740 per ounce.

The instrument was not significantly pressured by the explosive growth in the US bond market, where the yield on 10-year securities exceeded 1.75%. Strong pressure on gold may begin when this yield exceeds 2% but this is still a long way off. According to Bloomberg, exchange-traded funds, which are backed by physical gold, continue to report outflows totaling 144K ounces, which is not much compared to the outflow of more than 300K ounces a week earlier.

Overall, the price looks fairly stable amid growing geopolitical risks. The new presidential administration in the United States continues its aggressive policy towards China and Russia, which provokes demand for defensive assets, which are the precious metals.

Support and resistance

After reaching the support line, the quotes move within the global downtrend channel, heading up. Technical indicators are ready to reverse and give a buy signal. The fluctuation range of the Alligator EMA indicator began to actively narrow, and the AO oscillator histogram is forming new upward bars.

Resistance levels: 1763.0, 1863.0.
Support levels: 1682.0, 1600.0.

Trading tips

After corrective growth or consolidation above the local resistance level of 1763.0, buy positions with the target at 1863.0 will be relevant. Stop loss is 1700.0. Implementation period: 7 days or more.

After decline or consolidation below the local minimum of 1682.0, sell positions with the target at 1600.0 will be relevant. Stop loss is 1730.0.

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]

USD/JPY: updating local lows 24.03.2021

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 is declining against JPY today, developing the "bearish" momentum that had formed the day before and canceling out the results of the "bullish" start of the week, when the instrument tried to retreat from its weekly lows.

USD is under pressure from the yield on US bonds, which has been showing negative dynamics over the past few days. In addition, investors are worried about the increasing price pressure against the background of significant injections of funds into the national economy to stimulate its recovery. However, the US Fed is still taking a cautious position, considering the growth of inflation to be acceptable and reporting that it has all the necessary tools to control it in the future.

The Bank of Japan's meeting minutes on the interest rate published today do not influence the dynamics of the instrument much. The Japanese regulator plans to keep the parameters of monetary policy unchanged until the market situation improves.

Support and resistance

In the D1 chart, Bollinger Bands are reversing horizontally. The price range expands slightly from below, making way for new local lows for the "bears". MACD is going down preserving a sell signal (located below the signal line). Stochastic maintains a downtrend but is experiencing difficulties in overcoming the level of "20" from above. The readings of the indicator signal the growing risks of oversold USD in the ultra-short term.

To open new trading positions, it is necessary to wait for the signals from technical indicators to be clarified.

Resistance levels: 108.61, 109.00, 109.37, 109.84.
Support levels: 108.15, 107.78, 107.42, 107.00.

Trading tips

The breakdown of 108.15 may serve as a signal for new sales with the target at 107.42. Stop-loss – 108.61. Implementation time: 1-2 days.

To open long positions, one can rely on the rebound from of 108.15 with the subsequent breakout of 108.61. Take-profit – 109.37. Stop-loss – 108.15.

Use more opportunities of the NPBFX analytical portal: economic indicators

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

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

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

 

[Antony_NPBFX]

USD/CAD: the pair shows ambiguous trades 26.03.2021

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, USD is moderately declining against CAD during the Asian session, retreating from the local highs of March 11, renewed yesterday. At the end of the week, USD weakens, despite the publication of strong macroeconomic statistics from the US on Thursday.

Investors assess the prospects for new difficulties in the economy, provoked by the blocking of the Suez Canal and deterioration in relations between the United States and China. The channel has remained blocked since Tuesday, with more than 200 ships currently waiting in line. New difficulties in relations between the United States and China were caused by the refusal of several American companies to cooperate with Chinese cotton suppliers from Xinjiang province, where, according to Washington, human rights are repeatedly and grossly violated.

On Friday, investors will focus on the American statistics on the dynamics of personal income and spending in February. Also, the University of Michigan Consumer Confidence Index for March is expected to be released during the day.

Support and resistance

On the daily chart, Bollinger bands reverse into a horizontal plane. The price range slightly widens from above, letting the “bulls” renew local highs. MACD grows, maintaining a strong buy signal (the histogram is above the signal line). Stochastic reached its highs and reversed downwards, reacting to the "bearish" dynamics of Friday and signaling that USD is overbought in the super short term.

Resistance levels: 1.2600, 1.2627, 1.2650, 1.2700.
Support levels: 1.2570, 1.2500, 1.2439, 1.2400.

Trading tips

Short positions may be opened after the rebound from 1.2627 and the breakdown of 1.2570 with the target at 1.2500. Stop loss – 1.2610. Implementation period: 1–2 days.

Long positions may be opened after the breakout of 1.2627 with the target at 1.2700. Stop loss – 1.2580.

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]

AUD/USD: consolidation pending new drivers 29.03.2021

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 shows flat dynamics against USD during today's Asian session, trading near the local highs since March 23.

Last Friday, the instrument showed quite active growth, which was mainly due to technical factors, as well as not the strongest macroeconomic statistics from the USA. Personal spending in the US fell by 1% MoM in February after rising by 3.4% MoM in the previous month. Analysts had expected "bearish" trend to appear, but counted on only –0.7% MoM decline. Personal income in February also showed a sharp decline of 7.1% MoM after increasing by 10.1% MoM in January. The instrument is further supported by a gradual recovery in global trade activity as vaccination programs spread and scale up.

Support and resistance

Bollinger Bands in D1 chart demonstrate a moderate decrease. The price range is almost unchanged, but it remains rather spacious for the current level of activity in the market. MACD has reversed to growth and is about to form a new buy signal (the histogram should be located above the signal line). Stochastic is showing similar dynamics, retreating from its lows, indicating the risks of oversold AUD in the ultra-short term.

Existing long positions should be kept and new ones should be opened until technical indicators are clarified.

Resistance levels: 0.7644, 0.7675, 0.7721, 0.7770.
Support levels: 0.7600, 0.7556, 0.7500.

Trading tips

To open long positions, one can rely on the breakout of 0.7644. Take-profit – 0.7770. Stop-loss – 0.7580. Implementation time: 2-3 days.

A rebound from 0.7644 as from resistance, followed by a breakdown of 0.7600 may become a signal for new sales with the target at 0.7500. Stop-loss – 0.7650.

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.