USD/CAD: flat dynamics 13.05.2019

Good afternoon, dear forum visitors!

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

Current trend

On Friday, the USD/CAD pair significantly decreased, renewing local lows since the beginning of the month. At the end of the week, CAD was strongly supported by a report on the labor market published in Canada in April, which turned out to be significantly better than analysts' forecasts. Thus, the unemployment rate in April unexpectedly dropped from 5.8% to 5.7%. At the same time, the employment level in April rose sharply by 106.5K, which turned out to be 10 times better than market expectations. In February, the employment rate decreased by 7.2K jobs. The share of labor in the total population in April increased from 65.7% to 65.9%, with a constant forecast. The average hourly wage in April rose from 2.32% to 2.60%.

Support and resistance

On the daily chart, Bollinger bands are slightly reduced, tending to reverse into a horizontal plane. The price range narrows, reflecting the flat nature of trading in the short term. The MACD indicator is falling, keeping a poor sell signal (the histogram is below the signal line). Stochastic falls more confidently and is currently approximately in the center of its working area.

Current indicators’ readings do not contradict the further development of a downtrend in the short and/or super short term.

Resistance levels: 1.3443, 1.3479, 1.3500, 1.3520.

Support levels: 1.3401, 1.3375, 1.3340, 1.3320.

Trading tips

Long positions can be opened after the breakout of 1.3460–1.3470 with the targets at 1.3520–1.3540. Stop loss is 1.3443.

Short positions can be opened after the rebound from the level of 1.3443 and the breakdown of the level of 1.3420 with the target at 1.3375 or 1.3350. Stop loss is 1.3450.

Implementation period: 2–3 days.

Use more opportunities of the NPBFX analytical portal: economic indicators

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

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

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

Engineer from Egypt got a victory in the March contest. Read the interview on how GBP and practice helped to win $1000 and iPhone Xs

Just a year ago he did not know what MetaTrader 4 was and also was quiet far from financial markets. An Engineer by profession, now he prefers technical analysis and pays a lot of attention to his trading practice. Meet the winner of the March “Battle of Traders” contest Ali Mohamed Ibrahim Hosny. In just a month of trading on a contest account, the trader managed to show profit of 6000%! In the interview with NPBFX, the winner shared with us his trading system, why he preferred to trade pairs with the British pound and how popular Forex is in Egypt. Egypt is where Ali lives, so the interview was in Arabic. We offer you the translation of the interview.

- Ali, could you please tell me how did you learn about the “Battle of Traders” contest and why did you decide to take part in it?

- I found out about the contest from Google search. By that time, I was looking for a suitable Forex company and learnt more and more about the Forex industry as a whole. I saw an advertisement of NPBFX and registered with the “Battle”.

- You won not only $1000, but also the NPBFX grand prize – brand new iPhone Xs!
What did you feel when you discovered that you had won?

- I was so happy, at first I could not even believe it, because the contest was challenging. But I worked really hard to win, and I am very glad that it paid off.

- The struggle between you and another participant for the first place in the March “Battle of Traders” contest was absolutely unprecedented. Did such situation motivate you to move forward or, on the contrary, made you nervous?

- This situation caused mixed feelings. At first, I was focused on staying at least in the top ten. But having achieved good results, I believed that I could even become the leader. The struggle was tough, at the very beginning I was a little nervous, but every day I gained more and more confidence.

- How often did you monitor your main competitor and the results of other participants in the monitoring of contest?

- I cannot tell you the exact number of times, but quite often.

- What trading strategy did you use to increase $5000 initial deposit by more than 60 times in a month? Please, uncover some of your trading secrets to us..

- I had a simple strategy based on technical analysis with backtesting to find favorable forecasts before making a decision to buy or sell.

In addition, I prefer manual control of each transaction. I was offered to trade robots earlier, but I refused.

- Ali, you have made over 300 trades in a contest month. Mainly there were the following currency pairs: EUR/GBP, USD/CAD, GBP/USD. What is the reason for that choice of instruments at NPBFX?

- I just simply like to trade currencies related to GBP, as I believe that these pairs are easier to predict, and some market news and online recommendations help me in trading.

- What can you say about the trading conditions and the contest itself held by NPBFX?

- The conditions are simple and I learnt a lot during the contest. I can say that trading with NPBFX is half the victory.

- How long have you been trading Forex? Why did you decide to engage in trading?

- I started trading less than a year ago. I heard a lot from others about how interesting it was, and at first I was just curious to try. Later, I decided to study the industry more closely, and now I'm on my way of becoming a professional.

- One thousand U.S. dollars have already been credited to your real NPBFX trading account. Are you going to use the same strategy on your real account, as you did on the contest one?

- Yeah, I am planning to use the same strategy, regardless of whether this account is a contest or a real one. I have my own strategy, and I believe in it.

- Could you please tell me more about yourself (where do you live, your age, occupation, family, hobbies)?

- I live in Ismailia, I am 30 years old. By profession I am an Agricultural Engineer, I like to spend my free time reading or going to the gym.

- Does your family (close people) support you in Forex trading? How did they react to your victory in the “Battle of Traders” contest?

- My close people do not give me any technical trading advice, but they encourage me to learn and make sound decisions when trading. Their concept of Forex is that trading requires a lot of free time and is fraught with the risk of losing money. They are very glad with my victory, and I notice that they would also like to try and already believe that trading is not something impossible.

- Ali, according to your observations, are modern Egyptians familiar with the Forex market? Are there forex traders among your entourage?

- It seems to me that about 30-40% to some extent knowl about the market, but only a few start trading. In my family and among my friends there are no traders, but I know several traders among my colleagues, for example.

- Would you recommend to your friends to participate in the “Battle of Traders” contest? Why?

- I would recommend them to participate, as my own experience helped me learn a lot and made it easier for me to make trading decisions. I believe if they go the same way as I do, it will lead them to success and victory.

- Do you have any comments for NPBFX?

- Remain in the same spirit, giving people the opportunity to learn and win. I love NPBFX and recommend this company to all my friends involved in trading.

- Dear Ali, we thank you for participating in the contest and the interview. We wish you new victories and achievements in the financial markets! And let trading on the real NPBFX account be as successful as on your contest one!

Yours sincerely, NPBFX

How Brexit Favored in Hitting the First Place? Read the Interview with the Winner of the April Contest from Oryol
 
Everyone has their own path to victory. The path of Vladimir Anatolievich from the Russian city of Oryol was thorny. He managed to succeed in the April “Battle of Traders” contest at the third attempt. A trader with 10 years of experience, a Civil Engineer by profession–Vladimir has recently been trying to make trading Forex his primary source of revenue and not just additional one. Vladimir Anatolievich never lacks the determination to have things done, therefore he has the odds to achieve what he wants. In the interview, the winner shared how Brexit favored him in coming atop the standings, why he is keeping his victory from his family, as well as what strategy he chose to trade on a real NPBFX account. Let’s get to the interview with the winner and find out the answers to all the questions.

- Vladimir Anatolievich, please tell us how did you learn about the “Battle of Traders” contest and why did you decide to take part in it?

- I learnt about the contest through the Internet. I saw an advertisement and a link on a website. I checked the terms of the contest and decided to try. I have participated several times, but to no avail. This time everything worked out very well!

- Was the victory a surprise for you, or did you purposefully go toward it?

- I did it purposefully. I wanted to get a place, but did not think it would be the first place. In the end it turned out that I took the lead.

- What did you feel when you discovered that you had been in the top ranking spot?

- A relief ... The contest lasts for a month, and it is a strain on the nerves. I was really happy, when the company employees contacted me and said that I had taken the first place!

- Vladimir Anatolievich, did any of your relatives or friends cheered up for you?

- Well, I have not told anyone about my victory, I was afraid to jinx myself! (chuckles)

- According to the monthly monitoring, it is clear that in February and March you were not among the top ten winners. What helped not to give up and continue to participate in the April battle?

- Much of the contest depends on luck, in my opinion. If bet to the maximum, then the tiniest little mistake can deprive you of the first place, or even any prize at all. But in the third contest, everything went well for me!

- Your trading result in April is almost $ 150,000: for the month of the contest you increased the initial deposit of $ 5,000 almost by 30 times! Please tell us more about your trading system.

- My trading system is moving averages and a pair of own indicators. Basically, in the contest, I followed this trading strategy, but I also took risks.

- During April, you made 271 transactions, the vast majority of them were in the GBP/USD currency pair. How did you manage to trade the British pound so successfully, and why did you choose this instrument as the main one?

- During the contest there were a lot of news on Brexit, increased price volatility. In order to earn more, I tried to trade in pounds. The other pairs are less popular. So I chose the pound, the pound and once again the pound to take the first place! (laughs)

- Do you prefer to trade advisors/robots or “manually” manage each transaction?

- I do only “manually”. I have advisers, for example, to close orders, but everything is done manually–analyzing the market and then opening trades. I often read analytic reports in the Analytical portal, directly in the Personal Office of NPBFX.

- One thousand U.S. dollars have already been credited to your real NPBFX trading account. Are you going to use the same strategy as you did on your demo account or try another one?

- For now, I’m planning to use my strategy on a real account. Perhaps later I will make some additional adjustments. The market is changing, will see as time passes.

- How often during the month of the contest did you monitor the accounts of participants? What information did you pay the most attention to?

- The last 3-4 days of the contest I was among the leaders, at the first place. The runner-up hung behind me roughly by 40 thousand. On the last day, he placed me behind him, but for some reason, as can be seen from the monitoring, he did not close his trades. I thought I would take the second place. But then the pair rolled back. In the end, I was still in the first place.

In the past three days, I monitored almost every 5 minutes. It was so jittery.

- How do you evaluate the conditions of the "Battle of Traders" contest of NPBFX?

- Well, the terms of the contest are the same as on a real account. The only thing, you can quickly catch a stop-out, if you bet on everything. I believe that everything entirely depends on luck. You can bet on everything and win. On a real account, of course, you can’t bet it that way, because you might “throw” quickly.

- Vladimir Anatolievich, it would be interesting to learn more about you as a trader. How long have you been trading Forex? What was your professional path in the market?

- I have about 10 years of financial market experience. A friend of mine suggested me to try trading and I did and got a bit addicted to it. I trade with varying success: one day I’m in the black, another in the red. For me Forex is an additional source of revenue. I am a Civil Engineer by profession.

- Do you have any plans to change your main occupation and get by on incomes from Forex trading?

- It would be nice. I aspire to this!

- Tell us, please, what city are you from, how old are you, are you a family man, what are your hobbies besides trading?

- I am from the city of Oryol. I am 44 years old, married, have three children. Besides Forex, I like to play video games. (laughs)

- Vladimir Anatolievich, would you recommend to your friends to participate in the “Battle of Traders” contest? Why?

- Sure, I would. First, it is interesting, exciting! In addition, you can win real money on a trading account, if hit the top.

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

- Lots of luck!

- Vladimir Anatolievich, thank you for participating in the contest and for the interview. We wish you to achieve your goals at Forex!

GBP/USD: wave analysis 27.05.2019

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.

The correction ended, the pair may grow.

On the 4-hour chart, the first wave of the higher level 1 of (3) formed as a wedge, and a downward correction developed as the wave 2 of (3). Now, the wave c of 2 has formed, and the development of the third wave 3 of (3) is beginning. If the assumption is correct, the pair will grow to the levels of 1.3178–1.3377. In this scenario, critical stop loss level is 1.2600.

Main scenario

Long positions will become relevant during the correction, above the level of 1.2600 with the targets at 1.3178–1.3377. Implementation period: 7 days and more.

Alternative scenario

The breakout and the consolidation of the price below the level of 1.2600 will let the pair go down to the levels of 1.2398–1.2241.

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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 GBP/USD and trade efficiently with NPBFX.

USD/JPY: wave analysis 31.05.2019

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.

The pair may fall.

On the 4-hour chart, a downward correction develops as the wave ii of 3 shaped as a zigzag. Now, the ending wave (c) of ii is developing, within which the development of the third wave of the lower level iii of (c) has begun. If the assumption is correct, the pair will fall to the levels of 108.42–107.50. In this scenario, critical stop loss level is 109.93.

Main scenario

Short positions will become relevant during the correction, below the level of 109.93 with the targets at 108.42–107.50. Implementation period: 5–7 days.

Alternative scenario

The breakout and the consolidation of the price above the level of 109.93 will let the pair grow to the levels of 112.40–114.44.

Use more opportunities of the NPBFX analytical portal: analytics.

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

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

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

NZD/USD: the New Zealand dollar is growing 05.06.2019

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

Yesterday, NZD rose slightly against USD, continuing the development of a powerful “bullish” impulse formed at the beginning of the week. Today, during the Asian session, the instrument is also trading in an upward manner, renewing local highs since May 3. NZD grows against the background of corrective sentiment on the US currency and increased demand for shelter assets due to the aggravation of trade conflicts. However, the macroeconomic background from New Zealand remains ambiguous. The price index for dairy products published the day before dropped sharply by 3.4% MoM in April after falling by 1.2% MoM last month. Analysts expected a decline of 2.8% MoM.

Support and resistance

On the daily chart, Bollinger bands are smoothly reversing into an upward plane. The price range is expanding, however, not as fast as the upward trend is developing in the short term. The MACD indicator is growing, keeping a strong buy signal (the histogram is above the signal line), and is preparing to test for a breakout of the zero line. Stochastic keeps upward direction but has already reached its high, signaling that the instrument is overbought in the super-short term.

It is better to keep current positions until the market situation becomes clearer.

Resistance levels: 0.6645, 0.6664, 0.6683.

Support levels: 0.6613, 0.6581, 0.6562, 0.6546.

Trading tips

Long positions can be opened after the breakout of 0.6645 with the target at 0.6683 or 0.6700. Stop loss is 0.6620–0.6615.

Short positions can be opened after a rebound from 0.6645 and breakdown of 0.6620–0.6613 with the targets at 0.6562–0.6546. Stop loss is 0.6650.

Implementation period: 2–3 days.

Use more opportunities of the NPBFX analytical portal:glossary

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

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

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

Brent Crude Oil: oil prices are growing 10.06.2019

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

Oil prices recovered significantly at the end of last week, departing from local lows of January 29, updated on June 5. The quotes are supported by positive comments by the Minister of Energy of Saudi Arabia, Khalid Al-Falih, who said that Riyadh does not plan to increase production to compensate for current oil prices, which, in his opinion, remain low and do not imply an increase in investment in the industry. Instead, Saudi Arabia is in favor of extending the OPEC agreement, which ends at the end of this month. At the end of last week, quotes were also supported by Baker Hughes report on active oil rigs in the USA, the number of which for the reporting week dropped sharply from 800 to 789 units.

Support and resistance

On the daily chart, Bollinger Bands are steadily declining. The price range is narrowing from below, reflecting a quite sharp change of trend in the short term. MACD indicator is growing preserving a moderate buy signal (located above the signal line). Stochastic is growing almost vertically but is approaching its highs, which reflects the overbought instrument in the ultra-short term.

It is necessary to keep the existing long positions and open new ones in the short and/or ultra-short term until new trading signals from the indicators appear.

Resistance levels: 65.00, 66.06, 67.00, 67.70.

Support levels: 64.02, 63.08, 61.81, 60.51.

Trading tips

Long positions may be opened after the level of 65.00 is broken out with target at 67.70 or 68.63. Stop loss — 63.50 or 63.08.

Short positions may be opened after the rebound from 65.00 and the breakdown of 64.02 with targets at 60.51–60.00. Stop loss — 65.20.

Implementation time: 2-3 days.

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XAG/USD: silver prices are rising 14.06.2019

Good afternoon, dear forum visitors!

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

Current trend

Silver prices continue to rise moderately due to increased uncertainty and risk in the market. Investors continue to follow the development of trade relations between the United States and China but before the G20 summit, there is no news on this issue expected, and the continuing tensions in relations will support the instrument. The situation with Brexit again adds additional volatility to the market. After the resignation of the current British Prime Minister Theresa May, tensions increased significantly, and the market again spoke about the possibility of the country’s withdrawal from the EU without an agreement. One of the leaders of the pre-election race, Boris Johnson, is also considering the “tight” Brexit scenario.

Support and resistance

Bollinger bands are actively growing on the daily chart. The price range narrows, reflecting the ambiguous nature of trading in the short/medium term. The MACD indicator is growing, keeping a poor buy signal (the histogram is above the signal line). Stochastic is pointed upwards and is located approximately in the center of its working area, which indicates good prospects for the development of an upward trend in the short and/or super short term.

The current readings of the indicators do not contradict the further growth of the instrument in the nearest time intervals.

Resistance levels: 15.00, 15.12, 15.24.

Support levels: 14.90, 14.82, 14.72, 14.62.

Trading tips

Long positions can be opened from the level of 15.00 with the target at 15.24. Stop loss is 14.90.

Short positions can be opened after the rebound from the level of 15.00 and the breakdown of the level of 14.90 with the target at 14.72 or 14.62. Stop loss is 15.00.

Implementation period: 2–3 days.

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

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

USD/JPY: ambiguous dynamics 19.06.2019

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 showed a noticeable decline against JPY yesterday but managed to recover. The instrument was supported by optimistic comments from Donald Trump on Twitter announcing a meeting with PRC leader Xi Jinping at the G20 summit. China and the USA should start meeting in the near future to discuss the trade conflict.

Today, the instrument is trading in both directions, and investors expect new drivers and a significant increase in volatility at the end of the week. The Fed meeting will take place on Wednesday, and on Thursday, the BoJ and the BoE will meet, too. Today, the yen is pressured by the statistics from Japan. Exports in May collapsed by 7.8% YoY after falling by 2.4% YoY last month. Imports decreased from 6.5% YoY to -1.5% YoY with a forecast of 0.2% YoY. In May, trade balance was again in deficit of -967.1 billion yen.

Support and resistance

Bollinger Bands on the D1 chart are reversing horizontally. The price range narrows slightly from above, remaining uncomfortable enough for a possible increase in volatility in the second half of the week. MACD indicator is growing preserving a weak buy signal (histogram is above the signal line). Stochastic retains an uncertain downward direction, responding to the predominantly "bearish" start of the week.

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

Resistance levels: 108.47, 108.79, 109.00, 109.30.

Support levels: 108.30, 108.05, 107.80, 107.47.

Trading tips

Long positions should be opened if the price moves away from support levels followed by the breakout of 108.50–108.60. Take-profit – 109.30. Stop loss – 108.30–108.20.

The development of "bearish" dynamics with the breakdown of 108.10–108.00 may become a signal to start sales with the target at 107.60–107.50. Stop loss – 108.30–108.40.

Implementation period: 2-3 days.

Use more opportunities of the NPBFX analytical portal: economic calendar.

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

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

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

USD/CAD: ambiguous dynamics 24.06.2019

Good afternoon, dear forum visitors!

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

Current trend

On Friday, USD rose moderately against CAD, partially balancing a steady decline in the instrument the previous day. The appearance of "bullish" dynamics was due to the technical correction, as well as disappointing macroeconomic statistics from Canada. Retail sales in April rose by only 0.1% MoM after rising by 1.3% MoM last month, which almost coincided with the forecast of +0.2% MoM. Without car sales, the sales figure also slowed from +1.8% MoM to +0.1% MoM, while the forecast was +0.3% MoM.

American statistics disappointed traders with Markit June business activity index but supported the consumer sentiment with housing market data. In May, Existing Homes Sales rose by 2.5% MoM after zero dynamics last month. Analysts had expected growth only by +1.2% MoM.

Support and resistance

On the daily chart, Bollinger bands are steadily declining. The price range is virtually unchanged but remains quite spacious for the current level of activity in the market. The MACD indicator is going downwards, keeping a moderate sell signal (the histogram is below the signal line). Stochastic, approaching its lows, is trying to reverse upwards, indicating that the instrument is strongly oversold in the super-short term.

Corrective growth is possible in the nearest time intervals.

Resistance levels: 1.3200, 1.3228, 1.3250, 1.3283.

Support levels: 1.3149, 1.3100, 1.3067.

Trading tips

Long positions can be opened after the breakout of the level of 1.3228 or 1.3250 with the target at 1.3356. Stop loss is 1.3200 or 1.3180.

Short positions can be opened after the breakdown of the level of 1.3149 with the targets at 1.3067–1.3030. Stop loss is 1.3200.

Implementation period: 2–3 days.

Use more opportunities of the NPBFX analytical portal: analytics.

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

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

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

XAU/USD: gold prices are consolidating 28.06.2019

Good afternoon, dear forum visitors!

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

Current trend

Yesterday, gold prices declined as interest in risk in the market continued to grow accordingly to the expectations of a favorable outcome of trade negotiations between the United States and China at the G20 summit. At the same time, closer to the end of the daily session, the instrument managed to regain almost all of its losses, and today, during the Asian session, the course is moving within a steady upward trend.

The quotes are supported by the Fed's soft monetary policy. It is predicted that the regulator may lower the rate during the July meeting but much will depend on the updated economic data.

Support and resistance

Bollinger bands are growing steadily on the daily chart. The price range narrows but still remains spacious enough for the current level of activity in the market. The MACD indicator is trying to reverse downwards and form a new sell signal (the histogram should be located below the signal line). Stochastic is moving within a more confident downward trend and practically does not respond to the resumption of growth during today's Asian session.

It is better to wait for clarification of the situation and the emergence of clearer trading signals from the indicators.

Resistance levels: 1425.00, 1439.11, 1455.00.

Support levels: 1411.57, 1398.27, 1382.22, 1357.90.

Trading tips

Long positions can be opened after the breakout of the level of 1425.00 or 1430.00 with the target at 1465.00 or 1480.00. Stop loss is 1400.00.

Short positions can be opened after a rebound from the level of 1425.00 and a breakdown of the level of 1400.00 with the target at 1357.90 or 1347.94. Stop loss is 1425.00.

Implementation period: 2–3 days.

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

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

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

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