$1000 and the newest iPhone 11 Pro are awarded to a trader with 20 years of experience! Introducing an interview with the winner of the Battle of Traders in June

For sure, not everyone remembers the Forex market of 1999. Moreover, many Gen Z traders were not yet born. In those times, bars were drawn on paper, and trading was conducted only through the phone. Moreover, it was not one-click mobile trading which we take for granted nowadays. Back then, a transaction could only be opened by calling the broker through a landline, most often a rotary phone. Andrey Petrovich Panchenko, the winner of the June’s Battle of Traders, became a successful trader and mastered the basics of technical and fundamental analysis at the very nonce, 20 years ago. However, life has brought certain changes and he had to change his main field of activity. Recently, Andrey Petrovich has been programming expert advisers, uses modern technical indicators to predict the market, and he won the Battle by executing only 18 transactions on the DAX30 and NASDAQ100 indices! These particular indices, in his opinion, are perfectly predictable in the current market and allow earning according to the conventional trading rules. What is the point of such a classic strategy, what should stop loss protect against, why does a trader need flexibility and Buddhahood? The winner himself will answer these and other questions. Read an interesting interview and follow in the footsteps of the winners!

- Andrey Petrovich, please tell us how did you know about the Battle of Traders and why did you decide to take part in it?

- I knew about the Battle from one of the traders’ web forums. At that, I have known your company for a long time, 3-4 years. Actually sometimes I do programming, creating expert advisers. I am looking for a more convenient and profitable way to trade. Due to this I decided to try to participate in the Battle to test an adviser. Moreover, it was quarantine then.

- June was the third competition month in which you participated. Before that, you did not manage to enter the top ten of the Battle of Traders. What helped you to move on, and not to give up?

- On the first two stages, I also did a lot. However, when I looked, for example, at the others a week after the start of the Battle, then my hair almost stood on end. My adviser was slowly functioning, and other guys had already over 60, over 70 thousand dollars! I decided that with such an adviser I would not be able to win. A little bit later, I closed everything and tried to pull out the trade myself. It didn't work out. I work on shift system, so I had no time to monitor and control the situation for hours. Forex is not a game, it is a real work.

- What were your first words and emotions when you found out that your results were #1 and that you were the one who won the Battle in June? Did you share this news with someone?

- I was really worried, because I did not have enough time to make my trades without intermission. I saw that competitors are trying so hard to outrun me. Of course, I was nervous, at work I was monitoring  from the phone my competitors’ results. I thought that if I won, I would have to open a bottle of champagne!

I didn't have that, you know, wow feeling! I felt I deserved that. Everything. Surely, I wanted to rejoice, but deep inside I felt that it was well-earned victory. I try to keep a certain balance – both in joy and in sorrow. When I told my friends about the victory, many of them did not believe. I will experience the real joy when there is profit on the real trading account.

- Andrey Petrovich, how long did it take you to register as a participant of the Battle of Traders? How do you evaluate the conditions of the Battle at NPBFX?

- There were no problems. Everything was fine and transparent. I passed verification quickly, without issues, everything was fine.

- Your trading result can be considered as one of the best in the history of the Battle. In June, the initial deposit of $ 5000 on your account has increased by 63 times (up to $ 310 888)! According to the rules of the Battle, NPBFX awards you not only $ 1000, but also a super prize – the latest iPhone 11 Pro! Was it your strategy – to win an iPhone or was it an unexpected surprise?

- The situation was as follows: I was monitoring the last competitor, what he opens, the statistics. He overtook me a lot. I realized what he was doing, but he ignored the system – I mean the principles of classical trading. That was a mistake. He was going on trading, when, in fact, everything was already heading for downfall.

All competitors who tried to get ahead of me, were taking random actions – they read, learned what to sell or buy, and started trading. These are their problems. I don’t do it at random – I analyze the situation – and make a transaction. That’s it.

- Could you share with us – what is the principle of your trading strategy?

- The point is that this is classic trading. Conventional trading, in which you need to understand where is the resistance level, where is the support level. You need to understand where the level for manual adjustments. You need to watch where it breaks, and where it does not break, and control the indicators, for example, Stochastic. I did not use any complex elements, everything was done manually. I was watching where the processes were active and where I needed to wait. I opened a transaction and was holding  a position – for 15 minutes, an hour. This allows to see where the tool will go.

In addition, it is important to choose the correct trading volume and, no matter how unstable are circumstances of a trading process, just keep this position. However when it goes against, it is necessary to use stop loss. Stop loss is just perfect. It protects against wrong and unexpected losses. I have no difficulties with the losses. If to take into account the fact that you and I – all traders – underwent training, and understand this system correctly, these ordinary rules are relevant.

- Your trading portfolio includes only 2 instruments, including only indices DAX30 and NASDAQ100. In total, in June you closed 18 transactions, 16 of which were based on DAX30. Why did you choose indices?

- It turns out that it was in that particular market situation I was the most qualified in DAX30. Frankly speaking, I liked the German index. Tomorrow I may change my opinion. In any case, I will analyze other ones as well, and, if it is clear to me, I will trade. DAX30 is more relevant to me and my systems today.

I started to be interested in the indexes relatively recently; at first, I was not completely successful, the specification was somehow different. I understand that currency is currency and indices are indices. Then my past training, technical analysis came back to my memory. I noticed that it became a little risky to use classic trading on currency pairs. Previously, it worked, but now everything is mixed up; however, classic trading was still suitable for trading on indices.

- The most profitable trade brought you over $162,000 in profit. Its trading volume was 50 lots. Could you tell me, did you use indicators, technical or fundamental analyzes to manage your trading?

- Yes, yes and yes! At that moment there was a very clear entrance, I fully understood where it all would go. At the moment it is not clear – either there or here?! Therefore, now the evaluation of the situation is based more on current trends. Bulls and bears have fought and are waiting for help. I mean, for now you just have to wait. However at that moment I had an opportunity, I had enough time – it was my day off. I saw a clear tendency: I opened a trade and started, step by step, making money. After that, I saw a channel that would reach a certain level. So this is the way I was monitoring, controlling and constantly moving the stop loss.

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

- I used my computer. I wouldn't do that with my phone, I somehow can't set up the indicators. But in PC version of MT4 – that was exactly what I was doing.

- What can you say about NPBFX trading conditions? On working on indices, in particular.

- There are no complaints about the indices, everything is fine and well-done. Everything works clearly, that is, I haven’t find any surprises from the company there. This is how I got addicted to the indices, and from March to the present day I haven’t faced any issues. All the information I need, it is all reflected. I have not noticed requotes and other problems with the broker. I have only a positive attitude towards your company.

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

- Of course it’s useful. This is a competitive field, a person understands its own strategy, processes and strengthens. This is an opportunity to test oneself and earn what one deserves.

At least for myself, it was useful for me to see what others are doing. That’s a competitive spirit! If there was no monitoring, I would have stopped. But I saw – there were competitors, so I continued. Anyway I have to control the situation.

- The coronavirus pandemic has been affecting the global economy for several months. Have there been any changes in the Forex market during this time, in your opinion?

- Indeed. But there is one hitch. I can share with you my analysis of the market: in such a situation there should be a great interest of investors, who are ready to pay for technologies – pharmaceuticals, all areas that promote the creation of some projects and technologies. IT, nanotechnologies, all corporations that deal specifically with technologies. These are the sectors where investors prefer to put their money. And I clearly understand that such tendency is focused on purchases. Due to this reason, the indices reflect the economic indicators of enterprises, so one just need to focus on them at the moment.

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

- I do not know for now, here it is necessary to be rather careful. There was competition in the Battle, so there was already a big risk. This is the first time in my life when I have succeeded and won. Therefore, it is necessary to somehow save the deposit. I have to work and earn. And the Battle was just a competition. On real account I am not competing with anyone, only with myself. These are completely different things.

- Andrey Petrovich, tell us a little about your professional path: what brought you to Forex – was it accidental or a conscious choice? How long have you been trading Forex?

- I have been at Forex since 1999, i.e. for 21 years. It was interesting to me, I was attracted by the opportunity to earn. I have been trained. Then there were little monitoring and graphs. We drew bars on plain paper and bowed like war commanders over these graphs. I was very good at technical analysis, just instantly, then there were no indicators, experts, neurosystems. We thought it will take a long time to develop all these instruments ... I was training then when trading was performed on phones.

When the Internet era started, we gained wide access – all these indicators, experts started to be developed, the modern systems started to launch. I went back to classic trading. I succeed in “manual” work – resistance, support, triangles, technical figures, Stochastic. There were times when I really made money. However at a certain moment, my life circumstances changed, and I could not devote my time to this any more. Although I am constantly engaged in Forex: I develop programs, make advisers, indicator settings, communicate on the forum. For now I have a dream – to create the so-called “Grails”. Trading Forex is much more then investing 50 dollars, it’s much more, you need to do everything in order, be ready, have your own workplace, time, develop discipline. And do just that.

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

- First of all, a trader needs flexibility. Not just intelligence, but flexibility. Ability to cope with emotional impulses: joy or fear. One needs to be reserved, developing some kind of Buddha-attitude. That’s it. Just reduce emotions, they shouldn’t be there at all. In general, as I said before, you should not discard the classic trading. A trader should train all the time, open demo accounts. Just try it.

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

- At the moment I work in production, the production of ventilation systems. But I plan to switch to trading. Maybe I’ll leave my current job. I have my experience and my knowledge. I understand that I need to do this. It’s not a game, it’s not about having fun, passion – just pure work.

- Please tell me, what country are you from, what is the name of the city where you live? How old are you, are you a family man, what are your hobbies?

- I am 52 years old, from Kiev, Ukraine. I used to have hobbies, I was fond of many things. At the moment I have a family and grandchildren. I love to travel, doing some hand craft. There are interesting projects that I want to implement. However, it is necessary to engage in trading, and then devote free time to the implementation of projects.

- Andrey Petrovich, would you advise your friends and acquaintances to join the Battle if Traders? Why?

- Of course, definitely. There are people who want to earn money – I can recommend it them. If they want, I can show them and explain all the nuances of effective trading.

I can recommend online training, seminars. If they like it, I recommend the Battle of Traders. Here you can test yourself and win.

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

- I wish you all the best. You guys are great, you enable people to do what they like, what they want! You give them the opportunity to believe in themselves, in their strength. Here I have only positive experience.

Of course, I wish you great success and prosperity! And I wish the participants of the Battle the same! It doesn't matter, whatever the policy is in the country or global situation with the coronavirus, I hope everything will be fine. Because if you have money, everything will be fine! Good luck!

- Andrey Petrovich, thank you for participating in the Battle and for the interview. We wish you new victories and achievements in the financial markets! And let the NPBFX real account trade be as successful as it was on your contest account in June!

NZD/USD: NZD declines 14.08.2020

Good afternoon, dear forum visitors!

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

Current trend

NZD has declined against USD during today's Asian session, trading near local lows from July 14, updated last Wednesday. The instrument has been declining for the sixth trading session in a row, retreating from record highs, updated earlier amid the weak USD.

Some support for NZD on Friday is provided by macroeconomic statistics from New Zealand. Business NZ PMI in July grew from 56.3 to 58.8 points, which exceeded the market's expectations. At the same time, investors are cautious against the background of the publication of not the strongest statistics from China. The July pace of Industrial Production in China remained at 4.8% YoY, while analysts expected the dynamics to accelerate to 5.1% YoY.

Support and resistance

Bollinger Bands in D1 chart demonstrate a moderate decrease. The price range is widening from below but does not conform to the development of the "bearish" trend in the short term. MACD is going down preserving a stable sell signal (located below the signal line). The indicator is trying to consolidate below the zero level. Stochastic shows flat dynamics, having approached its lows, while signaling the risks of the oversold instrument in the ultra-short term.

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

Resistance levels: 0.6560, 0.6580, 0.6600, 0.6635.

Support levels: 0.6522, 0.6500, 0.6470.

Trading tips

To open long positions, one can rely on the rebound from the support level of 0.6522, with the subsequent breakout of 0.6560. Take-profit – 0.6600. Stop-loss – 0.6540.

The breakdown of 0.6522 may serve as a signal to new sales with the target at 0.6470. Stop-loss – 0.6550.

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 NZD/USD and trade efficiently with NPBFX.

USD/JPY: trading in both directions 19.08.2020

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, correcting after active decline at the beginning of the week. The instrument adds about 0.17% and is testing the level of 105.50 for a breakout. The growth of USD proceeds against the background of strengthening technical factors, as investors close part of their short positions.

In addition, the Japanese macroeconomic statistics released on Wednesday put some pressure on JPY. Machinery Orders in June unexpectedly declined by 7.6% MoM after an increase of 1.7% MoM a month earlier. Analysts had expected further growth by 2% MoM. In annual terms, the decline in Machinery Orders accelerated from the previous –16.3% YoY to –22.5% YoY, which turned out to be worse than the forecasts of –17.6% YoY.

Support and resistance

On the D1 chart, Bollinger Bands are gradually reversing horizontally. The price range is changing slightly, but remains rather spacious for the current level of activity in the market. MACD is going down having formed new sell signal (located below the signal line). Stochastic retains steady downward direction but is located in close proximity to its lows, which indicates the risks of oversold USD in the ultra-short term.

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

Resistance levels: 105.70, 106.00, 106.46, 106.79.

Support levels: 105.29, 105.00, 104.50, 104.17.

Trading tips

To open long positions, one can rely on the breakout of 105.70. Take-profit – 106.46. Stop-loss – 105.29.

The return of "bearish" trend with the breakdown of 105.29 may become a signal for new sales with the target at 104.50. Stop-loss – 105.70.

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.

USD/JPY: flat dynamics 24.08.2020

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 has shown moderate gains against JPY during today's Asian trading session, building on last Friday's weak "bullish" momentum. USD showed an active decline against JPY at the end of the last trading week, but managed to recover closer to the end of the daytime session, receiving support from the publication of strong macroeconomic statistics on business activity from the USA. Markit Manufacturing PMI in August increased from 50.9 to 53.6 points against the forecast of growth only to 51.9 points. Services PMI jumped from 50 to 54.8 points, which also exceeded expectations of 51 points. Existing Home Sales also showed positive results. In July, the indicator increased by 24.7% after increasing by 20.2%. Analysts had expected the indicator to slow down to 14.7%.

Support and resistance

Bollinger Bands in D1 chart retain flat dynamics. The price range is changing slightly, but remains rather spacious for the current level of activity in the market. MACD is trying to reverse upwards but preserves its previous sell signal (located below the signal line). Stochastic demonstrates similar dynamics, maintaining an upward direction since the middle of the last trading week.

The development of the uptrend is possible in the short and/or ultra-short term.

Resistance levels: 106.00, 106.46, 106.79, 107.00.
Support levels: 105.67, 105.29, 105.00, 104.50.

Trading tips

To open long positions, one can rely on the breakout of 106.00. Take-profit – 106.79. Stop-loss – 105.67.

A rebound from 106.00 as from resistance followed by a breakdown of 105.67 may become a signal for new sales with the target at 105.00. Stop-loss– 106.00.

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 USD/JPY and trade efficiently with NPBFX.

EUR/USD: EUR is recovering 28.08.2020

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 strengthening against USD during today's Asian session, recovering from the active multidirectional dynamics on Thursday, which were the result of the reaction to the speech of the Fed Chairman Jerome Powell and the publication of macroeconomic statistics from the US. Powell's speech supported USD for a while, as the markets saw the long-awaited changes in monetary policy: now the Fed does not limit inflation to a strict threshold of 2%, but will allow prices to stay above this level for some time so that the American economy could recover after the crisis.

Additional support for USD was provided by the updated data on the dynamics of US GDP for Q2 2020. According to new estimates, the indicator dropped by 31.7% YoY, which was better than the market's expectations at –32.5% YoY.

Support and resistance

Bollinger Bands in D1 chart demonstrate flat dynamics. The price range is narrowing from below, reflecting the emergence of ambiguous dynamics of trading in the short term. MACD is gradually reversing upwards keeping a previous sell signal (located below the signal line). Stochastic is demonstrating a more confident uptrend, signaling in favor of the development of an ultra-short-term "bullish" trend for EUR.

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

Resistance levels: 1.1850, 1.1914, 1.1964, 1.2000.
Support levels: 1.1780, 1.1700, 1.1657, 1.1600.

Trading tips

To open long positions, one can rely on the breakout of 1.1914. Take-profit – 1.2000. Stop-loss – 1.1860.

A rebound from 1.1914 as from resistance followed by a breakdown of 1.1880 may become a signal for new sales with the target at 1.1780. Stop-loss – 1.1930.

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.

EUR/USD: EUR is corrected 02.09.2020

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 trading in both directions against USD during today's Asian session, consolidating at 1.1900. EUR retreated from its record highs since May 2018 and the important psychological level of 1.2000, responding to the emergence of not the most confident macroeconomic statistics from Europe yesterday. Core Consumer Price Index in the euro zone slowed down in August from 1.2% YoY to 0.4% YoY, which turned out to be noticeably worse than market expectations at 0.9% YoY. Consumer Price Index for the same period fell by 0.2% YoY, while investors expected its growth by 0.2% YoY. Unemployment Rate in the euro area in July rose from 7.7% to 7.9%, which was only 0.1% better than the forecasts.

In turn, USD received some support after the publication of statistics from the US on business activity from ISM. Today, traders are focused on the US ADP report on Employment Change in August, as well as the monthly economic review, the Fed's Beige Book.

Support and resistance

In the D1 chart, Bollinger Bands are reversing horizontally. The price range expands slightly from above, indicating that "bullish" momentum may persist in the short term. MACD is reversing downwards forming a new sell signal (trying to consolidate below the signal line). Stochastic demonstrates similar dynamics, reversing downwards at the level of "80".

Resistance levels: 1.1914, 1.1964, 1.2000.

Support levels: 1.1881, 1.1850, 1.1780, 1.1700.

Trading tips

To open long positions, one can rely on the rebound from the support level of 1.1881, with the subsequent breakout of 1.1914. Take-profit – 1.2000. Stop-loss – 1.1870.

The breakdown of 1.1881 may serve as a signal to new sales with the target at 1.1820. Stop-loss – 1.1914.

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.

GBP/USD: the pound is declining 07.09.2020

Good afternoon, dear forum visitors!

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

Current trend

GBP is trading near zero against USD during today's morning session, consolidating after the active end of last week. The instrument was declining, but managed to fix a slight increase on Friday, when the market received conflicting statistics from the US.

Uncertainty around the conclusion of a trade deal between London and Brussels after Brexit continues to exert pressure on GBP. Despite the positive comments that European and British officials shared earlier, there has been no significant progress on the deal so far. However, Prime Minister Boris Johnson is still trying to remain optimistic, noting that whatever the outcome of the negotiations, close trade ties between the UK and the EU will undoubtedly be preserved.

Support and resistance

In the D1 chart, Bollinger Bands are reversing horizontally. The price range is slightly narrowing, reflecting the ambiguous dynamics of trading in the short term. MACD is going down keeping a fairly stable sell signal (located below the signal line). Stochastic is showing similar dynamics; however, it is rapidly approaching its lows, reflecting the risks associated with the oversold GBP in the ultra-short term.

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

Resistance levels: 1.3266, 1.3300, 1.3350, 1.3400.

Support levels: 1.3200, 1.3147, 1.3100, 1.3052.

Trading tips

To open long positions, one can rely on the breakout of 1.3266. Take-profit – 1.3350. Stop-loss – 1.3215.

The breakdown of 1.3200 may serve as a signal for new sales with the target at 1.3100. Stop-loss – 1.3250.

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 GBP/USD and trade efficiently with NPBFX.

Brent Crude Oil: prices consolidate

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 show an ambiguous dynamic, consolidating near the level of $40. Yesterday, the instrument returned to decline after a short corrective growth on Wednesday, responding to the publication of statistics on oil and oil products reserves. According to a report from the US Department of Energy, the figure for the week of September 4 unexpectedly rose by 2.032M barrels after falling by 9.362M barrels in the previous period. Analysts had expected negative dynamics to remain at –1.335M barrels. The volume of oil production in the US rose to 10M barrels per day against 9.7M barrels per day in the previous reporting week. At the same time, the Ministry of Energy also lowered its own forecast for oil demand in 2020 to 8.32M barrels per day.

On Friday, also to publications on US consumer inflation, investors wait for the release of Baker Hughes' report on active oil platforms.

Support and resistance

On the daily chart, Bollinger Bands moderately decline. The price range actively expands from below, letting the “bears” renew local lows. MACD falls, maintaining a relatively strong sell signal (the histogram is below the signal line). Stochastic has been near its lows for a long time, signaling that the instrument is oversold in the super short term.

It is better to wait until the situation on the market becomes clear to open new trading positions.

Resistance levels: 40.00, 40.89, 41.50, 42.32.
Support levels: 39.00, 38.50, 38.00.

Trading tips

Long positions may be opened after the breakout of 40.89 with the target at 42.32. Stop loss – 40.00. Implementation period: 2–3 days.

Short positions may be opened after the breakdown of 39.00 with the target at 38.00. Stop loss – 39.60. Implementation period: 1–2 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.

EUR/USD: ambiguous dynamics 16.09.2020

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 trading near zero against USD during today's Asian session, hovering at 1.1850. The day before, EUR managed to demonstrate moderate growth against USD and even updated local highs since September 10, but the "bulls" failed to consolidated at new levels (at 1.1900). The instrument was supported moderately by the data from Germany, released on Tuesday. ZEW Economic Sentiment in September rose from 71.5 to 77.4 points, which turned out to be better than the negative forecasts, which assumed a decrease in the indicator to 69.8 points. In the euro area, ZEW Survey showed a moderate increase in Economic Sentiment in September from 64 to 73.9 points, which also exceeded the projected 62.8 points.

Today, investors are focused on the publication of the final minutes of the two-day Fed meeting on the interest rate. In addition, traders are awaiting the release of the August statistics on the dynamics of retail sales in the United States.

Support and resistance

Bollinger Bands in D1 chart demonstrate flat dynamics. The price range is almost unchanged, but it remains rather spacious for the current level of activity in the market. MACD indicator is growing preserving a weak buy signal (located above the signal line). Stochastic interrupted active growth and is inclined to reverse downwards, reacting to the "bearish" dynamics of Tuesday.

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

Resistance levels: 1.1860, 1.1881, 1.1916, 1.1964.
Support levels: 1.1808, 1.1780, 1.1751, 1.1700.

Trading tips

To open long positions, one can rely on the breakout of 1.1860. Take-profit – 1.1916. Stop-loss – 1.1830.

The breakdown of 1.1808 may serve as a signal to new sales with the target at 1.1751. Stop-loss – 1.1840.

Implementation time: 1-2 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: ambiguous trading 21.09.2020

Good afternoon, dear forum visitors!

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

Current trend

Today during the Asian session, the USD/CAD pair is declining, balancing the moderate growth of the instrument at the end of last week. On Friday, the US dollar strengthened, responding to the appearance of poor macroeconomic statistics from Canada. Thus, the volume of retail sales for July fell from +22.7% MoM to +0.6% MoM, which was worse than analysts' average forecasts, which assumed a slowdown to +1% MoM. Retail sales excluding the automotive market declined by 0.4% MoM over the same period, despite expectations of 0.5% MoM growth.

On Monday, investors are focused on the speech of the head of the US Federal Reserve Bank Jerome Powell and the August data on the dynamics of the index of national activity of the Federal Reserve Bank of Chicago. In Canada, price indices for the primary housing market for August will be released.

Support and resistance

On the daily chart, Bollinger bands smoothly reverse into an upward plane. The price range narrows, reflecting the emergence of ambiguous trading dynamics in the short term. MACD grows, maintaining a poor buy signal (the histogram is above the signal line). Stochastic maintains a relatively strong downward signal, reacting poorly to the growth attempt of last Friday.

To open new trading positions, it is better to wait until the signals from technical indicators are clarified.

Resistance levels: 1.3200, 1.3250, 1.3300.
Support levels: 1.3160, 1.3132, 1.3100, 1.3043.

Trading tips

Long positions may be opened after a rebound from 1.3160 and the breakout of 1.3200 with the target at 1.3250. Stop loss — 1.3175. Implementation period: 2–3 days.

Short positions may be opened after the breakdown of 1.3160 downward with the target at 1.3100. Stop loss — 1.3200. 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.

USD/CHF: the pair corrects upward 25.09.2020

Good afternoon, dear forum visitors!

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

Current trend

The USD/CHF pair grows due to USD upward correction, trading around 0.9260.

Yesterday, a meeting of the Swiss National Bank took place, at which it was decided to leave the interest rate unchanged at the level of –0.75%. In an explanatory comment, the head of the regulator noted that the COVID-19 pandemic continues to actively affect the global economy. The inflation rate remains at low levels, at –0.6%, and according to forecasts, it will return to positive values no earlier than 2021 (0.1%). Economic activity in Switzerland has intensified since May 2020, which should be reflected in Q3 GDP growth, which will continue into 2021. However, the bank expects that, like abroad, the recovery will be only partial so far. This year, GDP is expected to shrink by about 5%. This will be the largest decline since the mid-1970s crisis.

USD remains stable in the local perspective, while the USD Index is trading slightly below yesterday's levels, around 94.300. Despite the downward correction, the potential for further dollar growth remains high.

Support and resistance

The global upward correction grows. The expected target level is the resistance line of the global downtrend. Technical indicators have issued a new stable buy signal. Indicator Alligator’s EMA fluctuations range expands toward growth and the histogram of the AO oscillator forms bars above the zero line.

Resistance levels: 0.9280, 0.9380.
Support levels: 0.9190, 0.9030.

Trading tips

After growth or consolidation above the local maximum at 0.9280, buy positions with the target at 0.9380 and stop loss 0.9220 become relevant. Implementation period: 5 days.

After reversal and decline or consolidation below the local support level at 0.9190, sell positions with the target at 0.9030 and stop loss 0.9260 are relevant.

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/CHF and trade efficiently with NPBFX.

USD/JPY: USD is corrected from its two-week highs 30.09.2020

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 trading ambiguously against JPY during today's morning session, close to its local highs since September 14 and psychological support at 106.00.

Macroeconomic statistics from Japan released on Wednesday turned out to be mixed, but provided some support for JPY. Retail Sales increased by 4.6% MoM in August after falling by 3.4% MoM a month earlier. Analysts counted on the appearance of positive dynamics +3.2% MoM. In annual terms, the indicator fell by 1.9% YoY after decreasing by 2.9% YoY in July. Forecasts suggested a decrease of 3.5% YoY. Industrial Production for the same period decreased by 13.3% YoY, which turned out to be better than the data for the previous period at the level of –15.5%, but worse than the forecasted –10.0% YoY. On a monthly basis, production added 1.7% MoM after rising by 8.7% MoM in July.

Support and resistance

Bollinger Bands in D1 chart demonstrate weak decrease. The price range is narrowing, reflecting ambiguous dynamics of trading in the short/medium term. MACD indicator is growing preserving a weak buy signal (located above the signal line). Stochastic, having reached its peak values, reversed into a descending plane, signaling in favor of the development of a correctional decline in the ultra-short term.

Resistance levels: 105.79, 106.00, 106.20, 106.50.
Support levels: 105.43, 105.19, 105.00, 104.75.

Trading tips

The breakdown of 105.43 may serve as a signal for new sales with the target at 105.00. Stop-loss – 105.70. Implementation time: 1-2 days.

To open long positions, one can rely on the rebound from the support level of 105.43 with the subsequent breakout of 105.79. Take-profit – 106.20. Stop-loss – 105.55.

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.