He manually opened 705 deals via MT4 mobile terminal and won the contest! Introducing the interview about the incredible success story of a trader from Indonesia

Having a desired goal and control over risks and emotions are often crucial to succeed at Forex. The success story of the today’s winner could be the scenario for a new motivational film about trading. Waryono – the winner of the September Battle of Traders contest – would definitely get the leading role. His name consists of one word, there is no surname or patronymic, which is quite unusual for Europeans. However, in Indonesia, it’s common. Waryono is 36 years old, married and has two children. Every day he sells children toys on the streets of his hometown - Purwokerto. In 2017, he decided to become a trader and, looking back, calls himself a self-taught, as all the wisdom of trade he learned by himself. For 2 years Waryono has been honing his skills on demo accounts. When signing up for the Battle, he set a clear goal to win and get the prize of $1000 and start trading on a real account. What a surprise it is to find out that the winner does not have a personal computer or a laptop. He made all transactions (705 to be exact!) manually, using the mobile terminal MT4 provided by NPBFX for Android! We congratulate the winner and invite you to get to know him better. Read about the secret of the winner’s trading strategy, where stop-loss matters, and very much more in the interview below.

- Waryono, could you tell us how you learned about the Battle of Traders contest and why did you decide to take part in it?

- I learned about NPBFX from my friends who had registered with NPBFX before and participated in the Battle of Traders as they were not ready to trade on real accounts.

- What was your initial goal? Did you expect to take the 1st place?

- Yes I did, I set myself the goal to win as I wanted to try to trade on a live account using the prize money.

- What were your first words and emotions when you learned that you had won the Battle? Did you share this news with someone?

- I was very excited and grateful. The persons I usually share the joyful news with and to whom I told about the victory were my wife and friends.

- Waryono, you have gone through all the stages of the contest: from registration to the victory and getting the prize - $1000. What can you say about the organization of the contest, its terms and conditions, monitoring?

- In my opinion, registration, terms and conditions of the contest are quite simple. Everything is organized well.

- In September, you achieved an excellent trading result by increasing your initial deposit of $5000 by 41 times (up to $208,322) in just one month! What trading strategy did you use? What is its essence?

- Chiefly, I use scalping and stop-loss when it’s profitable to avoid the risk in case of a potential loss in the reverse course of the market.

- The total number of trades in your account is 705. Did you use an automated Expert Advisor or did you trade manually?

- I always open all trades manually. I never use any advisors or robots.

- Your trading portfolio mainly consisted of currency pairs of a major group. At the same time, a significant part of transactions in your account was in gold. Why did you choose gold for trading in NPBFX?

- Analyzing the market, I can see that the price of gold is really high, and when the price rises, I sell, and when the price of gold falls, I buy.

- Have you ever traded in cryptocurrencies (Bitcoin, etherium, etc.)?

- No, I have never traded in cryptocurrency.

- Do you have MetaTrader 4 mobile terminal installed on your smartphone or do you prefer only a desktop version for competitive trading?

- I use only the mobile terminal for Android, because I do not have a PC or a laptop.

- Waryono, did you use online monitoring during the contest? How useful was the monitoring for you?

- Sure, it was quite useful, as I was able to get to know the places of other participants, especially those below me.

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

- I can’t say for sure because I mostly trade at night.

- What traits of your character helped you to achieve success and become the winner?

- Ability to follow the timing, emotions control, risk management. When the situation is favorable for me, I always use stop-loss to avoid losses. This skill has helped me out many times.

- If one of the beginners or experienced traders wants to repeat your trading strategy on your account, what advice will you give?

- My advice to colleagues who want to try to follow my strategy is to always use stop-loss when a situation is favorable to avoid possible losses.

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

- Maybe I’ll try the same strategy, but probably I’ll use another one. It depends on the market.

- Waryono, we would like to know more about you as a trader: how long have you been trading at Forex? Why did you decide to trade?

- I started trading in the middle of 2017 and from that moment I have often participated in demo contests with other brokers.

- How has your professional path been developing? How did you learn how to trade (independently from books, courses, videos)?

- I am a self-taught and studied everything myself, analyzing time frames from M1, M15, H1, D1, W1.

- What is your crowning achievement at Forex today?

- The main results at Forex today include only the results of participation in demo contests.

- Tell us a little more about yourself: where are you from, what is the name of the city (village) you live in? How old are you, are you a family man, what are your hobbies? What is your profession?

- I live in Purwokerto, I am 36 years old, married and have two children. I sell children toys on the street every day.

- Waryono, how popular Forex is in Indonesia? Are the people of your country interested in earnings in the financial markets?

- There are quite a lot of people in Indonesia who know about and are interested in the Forex market, and I believe there will be even more opportunities in 2020.

- Would you recommend your friends to join the Battle of a Trader contest? Why?

- Definitely! This is a good contest which provides good opportunities.

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

- My advice to the participants of the next contests is to use stop-loss and analyze the market before making a trade, because it is important for any strategy of each trader.

- Thank you for participating in the contest and for the interview!

Aspiration to the goal and adherence to the strategy have led Waryono to the 1st place in the contest. May the new stage of professional path in trading on a live account lead the winner to the conquest of new financial peaks together with NPBFX!

EUR/USD: the euro is strengthening 04.11.2019

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 Friday, reacting to the publication of contradictory macroeconomic statistics from the US. Nonfarm Payrolls in October rose by 128K after an increase by 180K in the previous month. Experts expected the growth by 89K only. Average Hourly Earnings in October maintained its previous growth rate of 3% YoY, as experts had predicted. In monthly terms, the indicator increased by 0.2% MoM after zero dynamics in September. Market forecasts suggested growth of 0.3% MoM. The Unemployment Rate in October expectedly increased from 3.5% to 3.6%. Markit Manufacturing PMI fell from 51.5 to 51.3 points in October. ISM Manufacturing PMI grew from 47.8 to 48.3 points, which nevertheless turned out to be worse than the forecast of 48.9 points.

Today, the pair maintains an uptrend. On Monday, investors are focused on European statistics on Markit Manufacturing PMI.

Support and resistance

Bollinger Bands in D1 chart show active growth. The price range expands actively, freeing a path to new local highs for the “bulls”. MACD indicator is growing, keeping a stable buy signal (located above the signal line). Stochastic, having approached its highs, reversed into a horizontal plane, indicating the overbought euro in the ultra-short term.

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

Resistance levels: 1.1178, 1.1200, 1.1229, 1.1248.

Support levels: 1.1138, 1.1117, 1.1071, 1.1050.

Trading tips

To open long positions, one can rely on the breakout of 1.1178. Take profit – 1.1248. Stop loss – 1.1138.

The rebound from 1.1178 as from resistance with the subsequent breakdown of 1.1138 can become a signal to new sales with target at 1.1071 or 1.1050. Stop loss – 1.1178.

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 EUR/USD and trade efficiently with NPBFX.

USD/JPY: USD is strengthening 08.11.2019

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 rose against JPY on Thursday, updating local highs of May 31. The development of the “bullish” dynamics of the instrument was facilitated by the depreciation of JPY against the background of an upbeat sentiment regarding the conclusion of a trade agreement between the US and China. Despite the fact that currently the new terms for signing the preliminary agreement have not been agreed upon, the comments of the officials show real progress in the ongoing negotiations.

Today, the pair is trading in both directions. JPY is moderately supported by the Japanese macroeconomic data. Household Spending in September grew by 9.5% YoY after growth by 1.0% YoY a month earlier. Analysts had expected growth by 7.8% YoY. Overall wage income of employees in September rose by 0.8% YoY after a decrease of 0.1% YoY in the previous month, with a forecast of +0.4% YoY.

Support and resistance

Bollinger Bands in D1 chart grow moderately. The price range is expanding, but it fails to catch the development of “bullish” trend at the moment. MACD indicator is growing preserving a buy signal (located above the signal line). Stochastic, having approached its highs tends to reverse into a horizontal plane, indicating the risks of overbought dollar in the ultra-short term.

Existing long positions should be kept in the short and/or ultra-short term until the situation is clear.

Resistance levels: 109.47, 109.73, 110.00.

Support levels: 109.05, 108.71, 108.46, 108.24.

Trading tips

To open long positions, one can rely on the breakout of 109.47. Take profit – 110.00. Stop loss – 109.15. Implementation time: 1-2 days.

A more likely scenario at the moment is a breakdown of 109.05, which can be a signal for new sales with target at 108.24 or 108.02. Stop loss – 109.47 or 109.60. 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 USD/JPY and trade efficiently with NPBFX.

USD/CAD: the pair is strengthening 13.09.2019

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 rose moderately, renewing local highs since October 11th. However, the instrument failed to consolidate at the new levels, and by the end of the daily session, it lost all his advantage by reacting to the neutral speech of US President Donald Trump at the Economic Club in New York. Investors expected further development of trade relations between the United States and China, which hovered before signing the preliminary agreement but Trump said nothing new. The President noted that China was still striving to conclude a trade agreement, however, the deal would be signed only on those conditions that will provide profit to the US economy otherwise Washington was ready to introduce new import duties.

Support and resistance

On the daily chart, Bollinger bands are growing steadily. The price range is narrowing slightly, reflecting the ambiguous nature of trading in the last few days. Nevertheless, the current indicators’ readings reflect the continuing “bullish” potential of the US dollar. The MACD indicator is growing, maintaining a strong buy signal (the histogram is above the signal line). Stochastic, approaching its highs, reversed into a horizontal plane, signaling the risks of corrective dynamics in the ultra-short term.

It is better to keep the current long positions until the market situation is clarified.

Resistance levels: 1.3256, 1.3289, 1.3309, 1.3347.

Support levels: 1.3224, 1.3196, 1.3159, 1.3132.

Trading tips

Long positions may be opened after the breakout of the level of 1.3256 with the target at 1.3309 or 1.3347. Stop loss – 1.3210–1.3200.

Short positions may be opened after a rebound from the level of 1.3256 and a breakdown of the levels of 1.3224–1.3210 with the target at 1.3159 or 1.3132. Stop loss – 1.3256.

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.

USD/JPY: USD is growing 18.09.2019

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 corrective growth against JPY on Friday, retreating from local lows of November 4. Positive dynamics was facilitated by strong macroeconomic statistics from Japan and weak data from the USA. Japan’s Industrial Production in September increased by 1.3% YoY after rising by 1.1% YoY in the previous month. In monthly terms, production grew by 1.7% MoM after a decrease of 1.2% MoM in the previous month and with a forecast of +1.4% MoM. Capacity Utilization in September increased by 1% after a decrease of 2.9% in August. Analysts expected a negative trend to remain at the level of –0.6%.

Similar statistics on Industrial Production from the United States turned out to be weaker than forecasts, and USD was supported only by data on Retail Sales. In October, Retail Sales grew by 0.3% MoM after a decline of 0.3% MoM in the previous month. Analysts had expected increase by 0.2% MoM.

Support and resistance

Bollinger Bands in the D1 chart demonstrate flat dynamics. The price range is almost constant, remaining rather spacious for the current activity level. MACD is trying to reverse upwards keeping a previous sell signal (located below the signal line). Stochastic, having approached its lows, signaled about the upward reversal, indicating risks of oversold USD in the ultra-short term.

Full-fledge correctional growth is possible in the short and/or ultra-short term.

Resistance levels: 108.98, 109.28, 109.47.

Support levels: 108.71, 108.54, 108.22, 108.00.

Trading tips

To open long positions, one can rely on the breakout of 108.85. Take profit – 109.28 or 109.47. Stop loss – 108.50 or 108.46.

Rebound from 108.85 as from resistance with the subsequent breakdown of 108.71 or 108.60 can become a signal for new sales with target at 108.24 or 108.00. Stop loss – 109.00 or 109.10.

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 USD/JPY and trade efficiently with NPBFX.

NZD/USD: instrument consolidates 22.11.2019

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

The NZD/USD pair moves flat during the Asian session and is located near the opening level of 0.6401. Investors receive conflicting information about the process of trade negotiations between the United States and China, which puts significant pressure on the instrument. In turn, poor macroeconomic statistics from the USA do not allow the instrument to decline more confidently.

During the day, traders expect the publication of a block of macroeconomic data from the USA on the dynamics of business activity indices in various sectors for November. Analysts suggest the release of sufficiently strong statistics, which may contribute to the return of the “bearish” dynamics.

Support and resistance

On the daily chart, Bollinger bands are moving in a flat. The price range has consolidated but remains quite spacious for the current level of activity in the market. The MACD indicator is reversing downwards, forming a new sell signal (the histogram is below the signal line). Stochastic is showing a slightly more confident downward trend, signaling the chances of a “bearish” correction in the ultra-short term.

It is possible to open new short positions on the instrument in the short and/or ultra-short term.

Resistance levels: 0.6417, 0.6436, 0.6464.

Support levels: 0.6396, 0.6374, 0.6357, 0.6320.

Trading tips

Long positions may be opened after the breakout of the level of 0.6417 with the targets at 0.6450–0.6464. Stop loss – 0.6396.

Short positions may be opened after the breakdown of the level of 0.6396 with the targets at 0.6357–0.6350. Stop loss – 0.6417.

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 NZD/USD and trade efficiently with NPBFX.

USD/JPY: USD is strengthening 27.11.2019

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 is strengthening against JPY during today’s Asian session, adding about 0.08%. USD is supported by optimistic news regarding the process of trade negotiations between the US and China, which contribute to increased demand for risky assets. The day before, the Ministry of Commerce of China reiterated that telephone calls between the parties “have made progress in resolving a number of issues”. However, as before, no specific information was received, and the market can only guess when exactly Washington and Beijing plan to sign a preliminary trade agreement.

With the opening of the American session, investors expect the publication of macroeconomic statistics from the United States. Among other things, the market expects the release of data on the dynamics of Personal Consumption, Pending Home Sales, annual data on GDP for Q3 2019 and statistics on Personal Expense and Income for October.

Support and resistance

Bollinger Bands in the D1 chart demonstrate flat dynamics. The price range is slightly narrowing, failing to keep up with the development of the “bullish” trend in the short term. MACD indicator is growing preserving a moderate buy signal (located above the signal line). Stochastic retains an uptrend but is located in close proximity to its highs, which indicates the instrument’s overbought in the ultra-short term.

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

Resistance levels: 109.28, 109.47, 109.73, 110.00.

Support levels: 109.06, 108.85, 108.71, 108.46.

Trading tips

To open long positions, one can rely on the breakout of 109.28. Take profit – 109.73 or 110.00. Stop loss – 109.06 or 108.85.

A rebound from 109.28 as from resistance, followed by a breakdown of 109.06 or 109.00 may become a signal to new sales with the target at 108.46. Stop loss – 109.30 or 109.40.

Implementation time: 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/JPY and trade efficiently with NPBFX.

Brent Crude Oil: prices decrease 02.12.2019

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

Today, during the Asian session, oil prices are stable, consolidating after declining by almost 4% during the trading session last Friday. The markets reacted violently to the news of the resignation of Iraqi Prime Minister Adil Abdul-Mahdi after several weeks of protests, which significantly influenced forecasts of oil supplies to the world market. However, the resignation of the prime minister does not mean the end of all protests, so the volatility of the "black gold" is likely to remain high.

Investors are also focusing on the upcoming OPEC+ meeting at the end of the week. The cartel is expected to announce the extension of the current agreement to reduce oil production by 1.2 million barrels per day. Negativity to the upcoming meeting adds Russia, whose oil companies are in favor of maintaining current quotas for oil production.

Support and resistance

On the daily chart, Bollinger bands move flat. The price range remains virtually unchanged but is spacious enough for the current level of activity in the market. The MACD indicator goes down, maintaining a strong sell signal (the histogram is below the signal line). Stochastic is declining steadily, quickly approaching its lows, which signals that the instrument is oversold in the ultra-short term.

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

Resistance levels: 62.33, 62.95, 63.50, 64.00.

Support levels: 62.00, 61.29, 60.84, 60.00.

Trading tips

Long positions may be opened after the breakout of 62.33 with the target at 63.50. Stop loss – 61.50. Implementation period: 2–3 days.

Short positions may be opened after a rebound from 62.33 and a breakdown of 62.00 with the target at 60.84. Stop loss – 62.50–62.60. Implementation period: 1–2 days.

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

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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.

XAU/USD: gold prices have stabilized 06.12.2019

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

Gold prices are stable during today’s Asian session, trading near 1475.00. Gold quotes have changed little recently since investors expect the situation to develop in a trade conflict between the United States and China. Earlier this week, information appeared that the conclusion of the agreement may have to be postponed to November 2020, when the next presidential election will be held in the United States. Donald Trump later reiterated that “negotiations are going well,” and moderate optimism gradually began to return to the markets. However, there is little time left until December 15, and new import duties, if they are introduced by the USA, will almost certainly put an end to the current progress in the negotiations and everything will have to be started from scratch.

Support and resistance

In the D1 chart, Bollinger Bands are reversing horizontally. The price range remains virtually unchanged, limiting the development of the “bullish” sentiment in the ultra-short term. MACD indicator is growing preserving a weak buy signal (located above the signal line). Stochastic, having reached the level of “80”, demonstrates weak correctional dynamics, indicating the possibility of developing a full-fledged downtrend in the nearest time intervals.

It is necessary to wait for the additional signals from technical indicators to open short positions.

Resistance levels: 1481.44, 1486.81, 1493.88, 1500.00.

Support levels: 1471.15, 1464.48, 1455.93, 1449.81.

Trading tips

To open long positions, one can rely on the breakout of 1481.44. Take profit – 1500.00. Stop loss – 1471.15.

A breakdown of 1471.15 may be a signal for new sales with target at 1455.93 or 1449.81. Stop loss – 1481.44.

Implementation time: 2-3 days.

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

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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.

EUR/USD: EUR is corrected 11.12.2019

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 is relatively stable against USD during today’s Asian session. The instrument is trading near the level of 1.1096, a local high of December 6 updated the day before. Moderate growth of the instrument on Tuesday was facilitated by rather optimistic European macroeconomic statistics. ZEW Economic Sentiment in December increased from –1 to 11.2 points, which turned out to be much better than expectations (–17.7 points). Investors were pleased with the German data from ZEW. German ZEW Current Conditions in December rose from –24.7 to –19.9 points, which turned out to be better than the forecasts at –22.3 points. German ZEW Economic Sentiment for the same period rose from –2.1 to 10.7 points, while the growth forecast was only to zero.

Today, investors expect the publication of statistics from the US on consumer inflation. The key event on Wednesday will be the Fed meeting on interest rates followed by a press conference.

Support and resistance

Bollinger Bands in D1 chart show moderate growth. The price range expands from above, freeing a path to new local highs for the “bulls”. MACD indicator is growing preserving a moderate buy signal (located above the signal line). Stochastic is reversing upwards after quite an active decline at the end of last week.

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

Resistance levels: 1.1096, 1.1115, 1.1139.

Support levels: 1.1080, 1.1062, 1.1038, 1.1024.

Trading tips

To open long positions, one can rely on the breakout of 1.1096. Take profit – 1.1139 or 1.1150. Stop loss – 1.1062.

The rebound from 1.1096 as from resistance, with the subsequent breakdown of 1.1080 can become a signal to new sales with target at 1.1038 or 1.1024. Stop loss – 1.1105 or 1.1115.

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 EUR/USD and trade efficiently with NPBFX.

Brent Crude Oil: oil prices rise 16.12.2019

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

On Friday, oil prices rose moderately, reacting to confirmation of a trade agreement between the United States and China. US President Donald Trump commented on the news on Twitter, noting that the parties had already begun discussions within the framework of the “second stage” of the agreement. In addition, Washington has canceled the introduction of import duties on Chinese goods since December 15.

However, the instrument failed to consolidate in the new local highs, and by the time the afternoon session closed, it had lost most of its positions. The development of correctional dynamics was facilitated by the published Baker Hughes report on active oil platforms in the USA, which reflected the increase in the number of operating rigs in the USA from 663 to 667 units per week.

Support and resistance

On the daily chart, Bollinger bands are growing moderately. The price range is actively expanding, letting “bulls” renew local highs. The MACD indicator is growing, maintaining a poor buy signal (the histogram is above the signal line). Stochastic is reversing upwards after a short downward correction, reacting to the return of "bullish" sentiment to the market at the end of last trading week.

Current readings of the technical indicators do not contradict the further development of upward dynamics in the short and/or ultra-short term.

Resistance levels: 65.56, 66.00, 66.21.

Support levels: 65.00, 64.62, 64.00, 63.50.

Trading tips

Long positions may be opened after the breakout of the level of 65.56 with the targets at 66.21–66.50. Stop loss – 65.00. Implementation period: 1–2 days.

Short positions may be opened after the breakdown of the level of 65.00 with the target at 64.00 or 63.50. Stop loss – 65.56. 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 Brent Crude Oil now or better waiting for a more favorable period? Use trading signals for commodities from the top 10 technical indicators on the NPBFX portal and make the right decisions! All registered users have free and unlimited access to the minutely updated trading signals (MA10, BBands, Ichimoku, Stochastic, ZigZag, etc.) for Gold, Silver, Brent and WTI Crude oil.

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

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