$ 1000 and iPhone Xs go to a trader from Indonesia! Interview with the contest winner

Each trader has its own goals to participate in the Battle of Traders contest on demo accounts. However, the top goal for many people is to reach the prize-list and get prizes for trading Forex on real account. Sigit Setiawan - a teacher from Indonesia and the central figure of the interview - registered with the contest to increase his income. According to the results of the Battle of Traders, in July Sigit took a prestigious 1st place and won $1000, as well as the grand prize by NPBFX - iPhone Xs! It stands to mention a great professional persistence of the trader who had participated in the contest 6 times before his account topped the contest table! Sigit has been stable with his trading strategy; he has been using the Head-and-Shoulders model for technical analysis. Which trading portfolio has the winner used? What does Sigit recommend those who decide to follow his trading strategy? Read a candid interview with the winner.

- Sigit, please tell us how did you hear about the Battle of Traders contest and why did you decide to take part in it?

- I learned about the contest on the Internet and has already participated 6 times. I do not have free money to trade on real account, so I’m practicing on a demo one.

- What helped you to win in July?

- Before starting a trade, I conducted an analysis only by observing the dynamics of prices based on trend reversals, then selected certain hours for trading based on the previous price movement.

- What did you feel when you discovered that you had won?

- I was very happy to become the winner! For two years now I have been grappling with financial problems and for that reason, I was in, let’s say, a trading vacuum, having no chance to trade. The Battle of Traders contest helped me to return to trading, improve my skills, emotional control, and risk management. I am sure that the victory is my first step towards the enhancement of my financial health.

- You showed an outstanding trading result: you increased the initial deposit of $5000 by 51 times! According to the rules of the contest, NPBFX grants you not only $1000, but also a grand prize - iPhone Xs! Did you set a goal to get a grand prize or was it a pleasant surprise?

- Initially, I did not set such goal, but when I saw that, finally, I hit the top ten winners then, of course, I did my best to get a grand prize - the brand new iPhone Xs. The grand prize was an additional motivation to take the first place.

- Sigit, how quickly did you register with the Battle of Traders contest? How do you evaluate the terms of the contest at NPBFX?

- I quickly registered with the contest and, in my opinion, the terms are quite simple. You can use any trading strategy; so anyone can take part in the Battle.

- Please tell us more about your trading strategy which led you to success. What is the core of it?

- For me, the core of all strategies is about the same. I use the Head-and-Shoulders model to determine price peaks; I use various time frames, for example, H1, M30 or D1 to search for a “head” or “inverted head” for greater accuracy, and less risk of stop-loss.

- During July you closed 655 trades. The vast majority of trades were within the most liquid Forex currency pairs (pound, yen, franc, euro paired with the US dollar). What is the reason for choosing these instruments?

- When I choose a pair, I look for the most promising at the moment, in which one currency is stronger than another, such as GBPJPY.

- In July, did you trade on the contest account with the help of an adviser/robot, or did you manually manage each trade?

- In general, I trade manually, I do not really like advisers. When I trade manually, I can rely upon my analysis and correct errors in the analysis during trading.

- Sigit, if one of the traders would like to repeat your trading strategy on his account, what would you suggest to him?

- First of all, I would suggest getting a good technical knowledge base; also a solid emotional and financial control is important for successful trading.

- Do you focus more on technical or fundamental analysis when forecasting the market?

- I think that both analyzes are good and interconnected. Technical analysis is always paramount, followed by fundamental analysis. When I analyze the market and see that some position is going up, fundamental analysis can help determine what the next price movement is going to be.

- $1000 has already been credited to your NPBFX real trading account. Are you planning to use the same trading strategy on your real account as you did on the demo one?

- I’m going to use the same strategy, but I will try to change the trade volume.

- All contest accounts are presented in open-monitoring on the NPBFX website. Sigit, how useful was the monitoring during the contest for you as a participant? How often did you visit the monitoring page?

- Yes, I was monitoring the changes in the ranking of participants. I kept an eye towards the participants after me: I watched how far they fell behind me. It is quite important and useful to monitor other participants. On this basis, you can decide whether it is worth the risk or better to hold on a position.

- Sigit, tell us a little about your professional path: how long have you been trading Forex? Why did you decide to trade? What was your job before trading?

- I have been trading for 7 years. Before that, I worked as a teacher, but I quit due to the low salary. My friend told me about Forex, and I gradually began to learn the ropes, practice on a demo account, and study technical analysis. Then I borrowed money and tried to trade on a real account, but I failed. I learned to analyze anew and tried to trade on a real account, but yet again I failed. Thus lately, I have been focusing on honing my skills on a demo account, and have become a participant in the Battle of Traders contest.

- Tell us, please, what country are you from, what is the name of the city (village) where you live? Are you a family man, what are your hobbies besides trading?

- I live in the province of Kabupaten Ngawi, Indonesia, on the island of Java. In 2014, I got married, I have a child. My wife works as a teacher in Ngawi. After I quit my job, I’ve been engaged in trading and agriculture.

- In your opinion, how well the population of Indonesia aware of the Forex market, online trading opportunities?

- In my opinion, the enthusiasm and opportunities of the citizens of Indonesia are very great, especially in my region. I have examples of successful and profitable trading. The interest of the citizens is growing, and I am very pleased to be able to join the Forex business and participate in it.

- Sigit, as can be judged by monitoring, you have already become a participant in the new August Battle of Traders contest. Would you recommend your friends to join the contest?

- From the very beginning, I invited friends and relatives to join, but as they were not sure that winning is possible, they were not interested and did not believe me. After the victory, I automatically proved to them that the contest allows everyone to become a winner, so my relatives will also participate in the contest in the future. I’m planning to create a community on the Internet to share information and promote NPBFX.

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

- Thank you for the great contest! I would like to suggest allowing the withdrawal of the prize amount without restrictions to attract more newcomers to the contest. Many traders are not self-confident and are afraid of losing a prize.

- Sigit, thank you for participating in the contest and for the interview. We wish you new victories in the financial markets!

AUD/USD: AUD is rising 09.09.2019

Good afternoon, dear forum visitors!

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

Current trend

AUD showed strong growth against USD last week, updating local highs of August 1. The instrument was supported on Friday by a poor August report on the US labor market. Nonfarm Payrolls in August amounted to 130K against the previous result of 159K and the forecast of 157K. The Unemployment Rate in August remained at the previous level of 3.7%, while the Average Hourly Earnings accelerated in August from +0.3% MoM to +0.4% MoM, which turned out to be better than the forecast of +0.3 % MoM.

Today, the pair is trading with a raise. AUD is moderately supported by data on Home Loans in Australia. In July, the volume of loans extended by 5.0% MoM after a decline of 0.8% MoM last month.

Support and resistance

Bollinger Bands in D1 chart show moderate growth. The price range is widening but does not conform to the development of the "bullish" trend in the short run yet. MACD indicator is growing, keeping quite stable buy signal (located above the signal line). The indicator is also trying to consolidate above the zero level. Stochastic approaching its highs reverses into the horizontal plane, indicating overbought instrument in the ultra-short term.

One should keep existing long positions in the short and/or ultra-short term. One should be extremely cautious with the opening of new positions.

Resistance levels: 0.6860, 0.6883, 0.6900.

Support levels: 0.6829, 0.6800, 0.6770, 0.6734.

Trading tips

To open long positions, one can rely on the breakout of 0.6860. Take profit — 0.6900 or 0.6920–0.6930. Stop loss — 0.6840 or 0.6830. Implementation time: 1-2 days.

The rebound from 0.6860 as from resistance with the subsequent breakdown of 0.6829 can become a signal to new sales with target at 0.6770 or 0.6750. Stop loss — 0.6860. Implementation time: 2-3 days.

Use more opportunities of the NPBFX analytical portal: analytics

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

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

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

Brent Crude Oil: oil prices are going down 13.09.2019

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 fell on Thursday, responding to OPEC+ decision to leave the parameters for reducing oil production unchanged. The central place in the discussions was given to the production reduction in Russia, Nigeria and Iraq to the indicated levels, and it was decided to postpone the discussion of changing these levels at the December meeting of the cartel.

Additional pressure on the instrument was provided by the ECB decision of lowering deposit rates and launching a new quantitative easing program. Immediately after the publication of this decision, Donald Trump again criticized the Fed and demanded immediate action. It is possible that the Fed decision next week will be adjusted according to the example of the ECB, and the market will see a more active easing of monetary policy. Today, investors expect Baker Hughes Oil Rig Count to be published.

Support and resistance

Bollinger Bands in the D1 chart demonstrate flat dynamics. The price range is narrowing, reflecting ambiguous dynamics of trading in the short term. MACD is declining keeping a weak sell signal (located below the signal line). In addition, the indicator is trying to consolidate below the zero mark. Stochastic keeps a steady downward direction, but is rapidly approaching its lows, which indicates the growing risks associated with the oversold instrument in the ultra-short term.

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

Resistance levels: 60.70, 61.51, 62.67, 64.00.

Support levels: 60.00, 59.10, 58.28, 57.57.

Trading tips

To open long positions, one can rely on the breakout of 60.70 or 61.00. Take profit — 62.67 or 63.00. Stop loss — 60.00.

A confident breakdown of 60.00 may become a signal to further sales with target at 58.28 or 57.57. Stop loss — 61.00.

Implementation time: 2-3 days.

Use more opportunities of the NPBFX analytical portal: glossary

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

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

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

EUR/USD: the euro is recovering 18.09.2019

Good afternoon, dear forum visitors!

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

Current trend

EUR showed strong growth against USD on Tuesday, recovering from an equally strong decline of the instrument at the beginning of the week. The growth of EUR was largely technical in nature, while macroeconomic statistics remained contradictory. German ZEW Economic Sentiment in September showed an increase from –44.1 to –22.5 points with a forecast of –38.0 points. German ZEW Current Conditions for the same period fell from –13.5 to –19.9 points, which turned out to be worse than the forecasts of –15.0 points. The EU ZEW Economic Sentiment in September grew slightly from –43.6 to –22.4 points, exceeding forecasts of –37.4 points.

Today, the pair is trading in both directions. Investors expect the publication of the results of the Fed meeting, at which, as expected, the interest rate will be reduced by 0.25 points.

Support and resistance

On the D1 chart, Bollinger Bands are gradually reversing to the ascending plane. The price range is slightly expanding from above, reflecting the predominance of "bullish" sentiment. MACD indicator is growing, keeping a stable buy signal (located above the signal line). Stochastic, having approached its highs, reversed into the horizontal plane indicating a sharp change of the sentiment in the ultra-short term.

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

Resistance levels: 1.1074, 1.1100, 1.1133, 1.1163.

Support levels: 1.1050, 1.1028, 1.1000, 1.0962.

Trading tips

To open long positions, one can rely on the breakout of 1.1074. Take profit — 1.1133 or 1.1163. Stop loss — 1.1028.

The rebound from 1.1074 as from resistance with the subsequent breakdown of 1.1050 can become a signal to new sales with target at 1.1000 or 1.0970. Stop loss — 1.1080 or 1.1090.

Implementation time: 2-3 days.

Use more opportunities of the NPBFX analytical portal: weekly FOREX forecast

You can learn more about the current situation on EUR/USD 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 EUR/USD and trade efficiently with  NPBFX.

Son Discovered Forex for Father who Won $1000 and iPhone Xs. Interview with the Winner of Battle of Traders

Continuity of generations is not unique to the professions of a doctor, teacher or engineer. Trading can also be added to this list. The winner’s family is a perfect case in point. Frankly speaking, father got an interest for trading from his son. Three years later, father’s hobby turned into additional income, and his professional skills allowed him to win the contest and get the main prize of $ 1000 and a grand prize - iPhone Xs! We present the winner of the August Battle of Traders - Petrovsky Oleg Grigorievich. A guy from the Ukrainian city of Nikopol, a power engineer by profession, who likes fishing and trading Forex via smartphone. Why does Oleg Grigorievich prefer aggressive trading and the GBP/JPY pair when he uses Fibonacci retracement? Is Forex widespread in Ukraine? Read the interview with the winner, find out his formula for success and victory in the trading battle in September.

- Oleg Grigorievich, please tell us how did you hear about the Battle of Traders contest and why did you decide to take part in it?

- I learned about your Company about a year ago on the Internet. A friend of mine also advised you. I read the feedback and I liked it. I generally trust brokers who work with banks more. I read that you used to be a bank, and then set up a subsidiary. I relied on the feedback and a year ago I opened two trading accounts in NPBFX, since then I have been trading.

I was looking for the contests on the website, but you seemed to have none. Then the Battle of Traders contest came around, and I decided to give it a try. However, July was not fruitful.

- It turns out that from being ranked at the bottom in July you moved to the 1st place according to the results of August. How did you manage it? Have you changed your trading strategy or is it all about luck?

- One can't do without luck. I have my own strategy and work with retracements. And when I saw that the trader who was in the first place, trades in the same pairs as me, only in the opposite direction, I felt more confident. Then I took a risk and I made deals that in case of an active pair reversal I’d get thrown out of the contest, I’d say.

In fact, the trading strategy in August was the same as for the first time, but I was already working more carefully, even on a demo account. I had an incentive to get into the top ten. Then I noticed that I consolidated myself at the top three! I was going to the finish line more carefully.

- Who did you share your win in the Battle with?

- With my son! He invited me to Forex. As my son busy at work, he gave up trading. When he saw me on the first line he said: “We'll see when the money will be yours.” Today I opened an account and made sure that I got the result the winner was promised!

- Oleg Grigorievich, How do you evaluate the terms of the contest at NPBFX?

- The terms are great! The monthly interval for the contest is successfully selected. When there are turns in pairs, time allows you to catch up, even if you missed a little at the beginning, but you’re still trading correctly. In other companies I participated in quarter contests, which I find dull.

- In August you showed a great trading result: the initial deposit of $5000 increased by 54 times (up to $270153)! According to the rules of the contest, NPBFX Company awards you not only $1000, but also a grand prize - the brand new iPhone Xs! Was it your goal to get an iPhone or it was a pleasant surprise?

- Frankly, it was a pleasant surprise. I was banking on hitting the top ten.

- Whether you use your smartphone to trade Forex or prefer a desktop version?

- I use smartphone. This month, it was more successful while using it. I’m tied down to my main job. Forex is like a hobby, an extra income, but it’s nice.

- Please tell us more about the trading strategy that led you to success. What is it all about?

- I use retracements. I’m trying to catch pairs at the reversal. Mainly I try to act according to strong support and resistance levels. I draw Fibonacci retracement and extension grid and then observe what is going to happen.

- Do you use any indicators?

- Mostly not. Sometimes I use Stochastics, and I check the overbought.

- In the course of the contest in August you made 137 deals and 134 of them were in one currency pair - the pound-yen pair (GBP/JPY). Why did you prefer this instrument?

- Three months ago I saw that the instrument was extremely overbought. It means that sooner or later it will go to the reversal. And it was at this swing that I caught a pair. I like that the movement on this pair is good.

- So you were preparing for the contest in advance?

- It’s true, I chose the pairs for which the trend is upward or downward. I came up with the pounds-yen pair. There was no point in “jumping” into gold. Although the person who was in the first place worked mainly with gold. I saw the pound-yen pair situation and came up trumps.

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

- I was looking at the long term, a day or two. I monitored in the morning whether there were any changes to be expected, if they weren’t, I did not close the deal. During the day I was still monitoring how the morning trading went. It turns out that it took about an hour a day to trade in the contest.

- Oleg Grigorievich, if one of the traders would like to repeat your trading strategy on their account, what advice will you give them?

- Everyone has their own strategy, as I think. I cannot recommend it. Leverage is the most important thing and your own approach to each pair. It seems to me that you have a quite good leverage on demo accounts.

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

- Basically, yes. But I will be a little more careful. I like the pounds-yen pair very much. I also consider gold. I prefer aggressive pairs that have a good rise or fall during the day.

- Oleg Grigorievich, tell us a little about your professional path, why did you decide to trade?

- Forex is a hobby that I like. I like to predict the movement of pairs. If you really keep an eye on the trend, where it goes and when it reverses in time, you can predict a little ahead. It’s nice to see the result when you’re good at it.

- How long have you been trading Forex? What do you consider your main achievement for today?

- I have been seriously trading for three years now. I have developed my own strategies. There are no great results yet. It has happened that over the past six months I have doubled my earnings and even lost them, gradually. But it’s been for the first time I got such results in the contest.

- What is your job apart from trading? What is your profession?

- I work as a leading specialist in the energy industry.

- Could you please tell us what country and city you are from? How old are you, are you a family man, what do you like besides trading?

- I live in Ukraine, city of Nikopol, Dnipropetrovsk region. Married, my son is 33 years old and I am 55. Thanks to my son I am in trading. This is more of a youth direction, but I liked it as well. I like fishing very much. As I have a smartphone, I can go on vacation and go fishing as well. When there is no rise to the bait, I’d like to check if something useful in trading is about to happen.

- In your opinion, can Forex trading be considered a widespread activity in Ukraine? Does anybody from those who knows you trade in financial markets?

- A friend of my age does, but there are more young people involved in trading. In Ukraine Forex was massive in the early 2000s. There were trading courses advertised, etc. Now there is less of it. I think people switched to the cryptocurrency when there was movement in it. When the crypto-boom ended, people switched to Forex again.

- Are you planning to participate in the new September Battle of Traders contest? Would you advise your friends to join the Battle of Traders contest? Why?

- Yes, I am. But I’m a little bit late. I signed up late, but I will try catch up.

And yes, I would recommend to my friends to participate in the contest. Monthly interval of the contest is very convenient. Indeed, I think that a monthly interval is perfect. If you haven't had time, or you have chosen a wrong strategy or pair, you can change everything and catch up.

My son, who showed me Forex and then gave it up, advises me to try to trade on a contest demo account. And I advise my friends too. I’m not saying this for the sake of advertising, but in fact, one does not lose anything, and gets the skill. It is never too late to learn. My wife says to me, you are already at the age, but still playing games.

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

- I wish all the traders excellent results, victories and pursue their goals! And for your Company I wish prosperity, and I hope you keep staying good, do not let anybody down. I have never had any delays or problems with withdrawal, so I wish you be on point in future too. Good luck to you in your business, thank you very much!

- Thank you for participating in the contest and for the interview. We wish you new victories and achievements in the financial markets with NPBFX!

AUD/USD: the instrument is trading in both directions 25.09.2019

Good afternoon, dear forum visitors!

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

Current trend

The Australian dollar strengthened significantly against the US currency on Tuesday, recovering from an uncertain start of the week. The instrument was supported by the results of a speech by RBA head Philip Lowe, who expressed optimism regarding the future prospects of the Australian economy, which, in his opinion, will demonstrate steady growth in the near future, but no significant acceleration should be expected. A positive effect should be achieved by a tax refund, which will increase income from households. Regarding the prospects for monetary policy, Lowe still takes a “dovish” position and believes that in the future the Australian economy may need an additional rate cut.

During today's Asian session, the instrument again shows a steady decline, losing positions earned the day before.

Support and resistance

Bollinger Bands in D1 chart demonstrate an unsteady decrease. The price range is expanding, reflecting increased trading activity this week. MACD is going down preserving a previous sell signal (located below the signal line). Stochastic, by contrast, maintains an uptrend, having reversed close to its lows at the beginning of the week. The indicator still points at the oversold AUD in the ultra-short term.

One should wait for clarification of the situation to open new transactions.

Resistance levels: 0.6807, 0.6829, 0.6858, 0.6883.

Support levels: 0.6777, 0.6759, 0.6734, 0.6700.

Trading tips

To open long positions, one can rely on the rebound from 0.6777 as from support with the subsequent breakout of 0.6807. Take profit — 0.6858 or 0.6883. Stop loss — 0.6777.

The breakdown of 0.6777 may serve as a signal to new sales with the target at 0.6700. Stop loss — 0.6807.

Implementation time: 2-3 days.

Use more opportunities of the NPBFX analytical portal: economic calendar

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

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

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

XAU/USD: gold prices are falling 30.09.2019

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

At the end of last week, gold prices fell, renewing weekly lows. The reason for the further weakening of the precious metal was the strong position of the American currency, which is growing moderately against a number of its competitors, namely, the euro. Negative macroeconomic statistics published in the USA at the end of last week contributed to some correction of the instrument closer to the close of Friday afternoon session, however, the general “bearish” mood remained.

Improving the prospects for US-Chinese trade negotiations, which should resume in Washington in early October, also help reduce demand for the shelter asset.

Support and resistance

On the daily chart, Bollinger bands are moving flat. The price range is slightly narrowing from below, reflecting the uncertain nature of trading. The MACD indicator goes downwards, keeping a strong sell signal (the histogram is below the signal line), and is preparing for a breakdown of the zero line. Stochastic is decreasing, however, it is rapidly approaching its lows, which indicates that gold may become oversold in the very short term.

It is better to keep the current short positions in the short and/or ultra-short term.

Resistance levels: 1500.00, 1510.11, 1516.70, 1523.95.

Support levels: 1490.81, 1483.18, 1474.61.

Trading tips

Long positions can be opened after a rebound from the level of 1490.81 and a breakout of the level of 1500.00 with the target at 1523.95 or 1535.39. Stop loss is 1483.18.

Short positions can be opened after the breakdown of the level of 1490.81 with the target at 1474.61 or 1460.00. Stop loss is 1500.00 or 1508.00.

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.

NZD/USD: New Zealand dollar strengthens 04.10.2019

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, the NZD/USD pair rose moderately, as the US dollar weakened to the entire spectrum of the market after the publication of ISM Service PMI data. For September, the indicator fell from 56.4 to 52.6 points against the forecast of 55.0 points. On October 1, ISM Manufacturing PMI also fell sharply to the lowest levels since 2009.

Today, during the Asian session, the New Zealand dollar continues to grow actively. The pressure on the US currency remains before the publication of the September report on the labor market, which, according to some analysts, could have a decisive influence on the Fed in the issue of another rate cut this year.

Support and resistance

On the daily chart, Bollinger Bands reverse into the horizontal plane. The price range narrows, reflecting a smooth upward movement of the instrument. The MACD indicator is growing, keeping a relatively strong buy signal (the histogram is above the signal line). Stochastic is growing almost vertically, however, it is approaching its highs, which limits the prospects for the development of the “bullish” trend in the ultra-short term.

The current indicators do not contradict the further development of the upward trend in the instrument.

Resistance levels: 0.6340, 0.6360, 0.6376, 0.6400.

Support levels: 0.6304, 0.6282, 0.6267, 0.6235.

Trading tips

Long positions can be opened after the breakout of the level of 0.6340 with the target at 0.6400. Stop loss – 0.6304.

Short positions can be opened after a rebound from the level of 0.6340 and a breakdown of the level of 0.6304 with the target at 0.6235 or 0.6200. Stop loss —0.6340–0.6360.

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.

EUR/USD: the euro is declining 09.10.2019

Good afternoon, dear forum visitors!

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

Current trend

The European currency showed a moderate decline against the US dollar on Tuesday, continuing to develop a "bearish" impulse formed the day before. Pressure on the euro was exerted by ambiguous statistics on industrial production in Germany. On a monthly basis, production grew by 0.3% MoM in August after a decrease of 0.4% MoM in the previous month. Analysts had expected a decline of 0.3% MoM. However, in annual terms, production volumes only accelerated their decline from the previous –3.9% YoY to –4.0% YoY, which turned out to be significantly worse than expectations of –2.7% YoY.

Another negative factor for the instrument remains the situation around the Brexit process. It became known the day before that Germany opposed Boris Johnson’s new plan to solve the problem with the Irish border, which significantly reduces the chances of concluding a final agreement before the end of October.

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 is gradually reversing downwards keeping a previous buy signal (located above the signal line). Stochastic is quite actively decreasing, having rebounded from the "80" level. The indicator signals in favor of the development of corrective decline in the ultra-short term.

It is worth looking into the possibility of the downtrend development in the short and/or ultra-short term.

Resistance levels: 1.0982, 1.1000, 1.1028, 1.1050.

Support levels: 1.0947, 1.0924, 1.0903, 1.0878.

Trading tips

To open long positions, one can rely on the breakout of 1.0982. Take profit — 1.1050. Stop loss — 1.0950.

The return of "bearish" trend with the breakdown of 1.0947 may become a signal for new sales with the target at 1.0878. Stop loss — 1.0982.

Implementation time: 2-3 days.

Use more opportunities of the NPBFX analytical portal: weekly FOREX forecast

You can learn more about the current situation on EUR/USD 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 EUR/USD and trade efficiently with  NPBFX.

AUD/USD: the instrument is growing 14.10.2019

Good afternoon, dear forum visitors!

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

Current trend

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

Support and resistance

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

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

Resistance levels: 0.6809, 0.6829, 0.6858, 0.6883.

Support levels: 0.6779, 0.6759, 0.6738, 0.6717.

Trading tips

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

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

Implementation time: 2-3 days.

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

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

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

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

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

EUR/USD: the euro is strengthening 18.10.2019

Good afternoon, dear forum visitors!

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

Current trend

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

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

Support and resistance

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

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

Resistance levels: 1.1138, 1.1163, 1.1200.

Support levels: 1.1100, 1.1074, 1.1050, 1.1023.

Trading tips

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

The rebound from 1.1138 as from resistance with the subsequent breakdown of 1.1100 can become a signal to new sales with target at 1.1023 or 1.1000. Stop loss — 1.1138 or 1.1163. Implementation time: 2-3 days.

Use more opportunities of the NPBFX analytical portal: glossary

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

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

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

USD/CAD: the dollar is recovering 23.10.2019

Good afternoon, dear forum visitors!

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

Current trend

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

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

Support and resistance

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

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

Resistance levels: 1.3100, 1.3132, 1.3170, 1.3192.

Support levels: 1.3070, 1.3040, 1.3000.

Trading tips

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

Short positions can be opened after the breakdown of 1.3070 with the target at 1.3000. Stop loss – 1.3110. Implementation period: 1–2 days.

Use more opportunities of the NPBFX analytical portal: weekly FOREX forecast

You can learn more about the current situation on USD/CAD and get acquainted with the weekly analytical forecast in the "Video reviews" section on the NPBFX portal. Weekly video reviews contain trends, key levels, trading recommendations for such popular instruments as EUR/USD, GBP/USD, USD/JPY, AUD/USD. In order to get free and unlimited access to video forecast and other useful instruments on the portal, you need to register on the NPBFX website.

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

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