NPBFX - making money with us since 1996!

[Antony_NPBFX]

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

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

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

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

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

- I had, indeed.

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

- It was a surprise.

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

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

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

- They are the best!

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

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

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

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

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

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

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

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

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

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

- How can you evaluate the trading conditions at NPBFX?

- The best.

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

- Not yet, I haven't checked yet.

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

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

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

- Yes, I have a wave analysis.

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

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

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

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

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

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

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

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

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

- I am a lawyer.

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

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

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

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

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

- I would advise, of course, why not.

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

- Sure.

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

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

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

 

[Antony_NPBFX]

NZD/USD: flat trading dynamics 11.06.2021

Good afternoon, dear forum visitors!

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

Current trend

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

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

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

Support and resistance

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

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

Trading tips

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

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

Use more opportunities of the NPBFX analytical portal: glossary

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

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

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

 

[Antony_NPBFX]

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

Good afternoon, dear forum visitors!

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

Current trend

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

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

Support and resistance

Bollinger Bands in D1 chart demonstrate a weak decrease. The price range is changing slightly, but remains rather spacious for the current level of activity in the market. MACD is going down, keeping a fairly stable sell signal (located below the signal line). The indicator is trying to consolidate below the zero level. Stochastic, having shown a rebound from the level of "80" demonstrates a confident decline and practically does not react to an attempt at corrective growth today.

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

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

Trading tips

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

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

Use more opportunities of the NPBFX analytical portal: glossary

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

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

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

 

[Antony_NPBFX]

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

Good afternoon, dear forum visitors!

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

Current trend

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

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

Support and resistance

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

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

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

Trading tips

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

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

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

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

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

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

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

 

[Antony_NPBFX]

EUR/USD: EUR remains under pressure 18.06.2021

Good afternoon, dear forum visitors!

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

Current trend

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

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

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

Support and resistance

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

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

Trading tips

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

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

Use more opportunities of the NPBFX analytical portal: economic indicators

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

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

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

 

[Antony_NPBFX]

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

Good afternoon, dear forum visitors!

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

Current trend

Today, during the Asian session, the USD/CHF pair actively grows, preparing to renew local highs from mid-April.

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

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

Support and resistance

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

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

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

Trading tips

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

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

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

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

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

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

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

 

[Antony_NPBFX]

NZD/USD: the instrument is testing 0.7000 23.06.2021

Good afternoon, dear forum visitors!

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

Current trend

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

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

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

Support and resistance

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

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

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

Trading tips

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

The breakdown of 0.7000 may serve as a signal to new sales with the target at 0.6913. Stop-loss – 0.7050.

Use more opportunities of the NPBFX analytical portal: glossary

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

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

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

 

[Antony_NPBFX]

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

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

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

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

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

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

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

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

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

NPBFX wishes all traders good luck and profitable trades!

Registration for the Battle of Traders is available here.

 

[Antony_NPBFX]

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

Good afternoon, dear forum visitors!

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

Current trend

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

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

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

Support and resistance

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

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

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

Trading tips

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

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

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

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

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

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

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

 

[Antony_NPBFX]

EUR/USD: euro consolidates near 1.1850 5.07.2021

Good afternoon, dear forum visitors!

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

Current trend

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

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

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

Support and resistance

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

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

Trading tips

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

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

Use more opportunities of the NPBFX analytical portal: economic indicators

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

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

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