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NordFX, is everything ok with your web-site? I couldn't log in today, what could be the reason? are there going any technical works and improvements?

The International Association of Forex Traders (IAFT) has announced the IAFT Awards winners for 2015. NordFX has been voted Best Broker of Asia.
The selection went for a month from 1st to 30th December 2015, and every visitor of the awards website could vote for leaders of the Forex industry in 17 categories.
We’re very thankful to all traders and experts for the trust and support extended to NordFX! We’ll certainly continue to maintain our high standards and improve the quality of service for our clients in Asia and other regions.

Forex Forecast for 25-29 January 2016

First, a review of last week’s forecast:
- the experts’ opinion about EUR/USD’s bearish sentiment proved right – the pair fell by 120 points during the week. However, this is exactly how short it was of the 1.0650 low indicated by graphical analysis. Thus, the forecast came half true;
- the GBP/USD pair met the expectations of the indicators, the experts and graphical analysis. The indicators had insisted on a further downtrend, and it did continue – the pair dropped another 200 points. The experts had also anticipated a rebound, which happened as well – from Thursday, the pair went up. Graphical analysis on H1 had claimed that the peak would be at 1.4370, and GBP/USD nearly got there, stopping short at 1.4362;
- the forecast for USD/JPY had consisted of two stages – first, a rise to 117.40-118.00 and then a drop to support at 116.00. That transpired to a tee – on Tuesday, the pair reached resistance at 118.10, rebounded from it and got to the low of 116.00 on Wednesday. The forecast had indicated that this cycle would take all week but USD/JPY completed both stages before Thursday. During Thursday and Friday, the pair went up to the lower boundary of the triangle, which had been formed over last August - October;
- there was no consensus about USD/CHF. The forecast by graphical analysis on H1 turned out to be more or less correct with some approximation – a rise to 1.01125 (the pair went up to 1.00825) and then a return to 1.0020 (the pair stopped at 1.0000). As for larger timeframes, graphical analysis on D1 had forecast quite a fast rise to 1.02500, and, in fact, USD/CHF went up sharply reaching 1.0165 by the end of the week.

Forecast for Upcoming Week
Generalizing the opinions of scores of analysts from leading banks and broker companies as well as forecasts based on different methods of technical and graphical analysis, the following can be suggested:
- surprisingly, there is unanimity about EUR/USD as 75% of the analysts, all indicators on all timeframes and graphical analysis on H1 vote for a fall to 1.0650-1.0700. Alternatively, 25% of the analysts and graphical analysis on D1 support bullish sentiment and a rise to 1.0850-1.0900. After that, however, the pair should drop trying to reach the low of the first week of last December;
- the analysts' opinions on GBP/USD are split three almost even ways – 33% for a fall to 1.4000, 33% for a rise to 1.4550 and the remaining third for a sideways trend. The indicators and graphical analysis on H4 agree with the latter, drawing a channel in a 1.4120-1.4330 range. Graphical analysis on D1 sides with those experts who speak about a further rebound upward, citing exactly the same level of 1.4550;
- the indicators and graphical analysis on H4 predict that USD/JPY will rebound to 119.50. However, the experts differ again – one-third of them are for a rise, 40% are for a side trend with a 118.00 pivot point and the rest are for the pair’s return to last week’s low;
- last week, graphical analysis predicted USD/CHF would soar to 1.02500. This bullish sentiment stands for this week too but with a corrected target of 1.0210, at which the pair should reverse and go back to the pivot point at 1.0080. The indicators on H4 and D1 and 70% of the experts agree with this view. The analysts set 1.0300 as the pair’s final longer-term target, followed by a drop to 0.9800, which may take 2-3 weeks.

Roman Butko, NordFX

Forex Forecast for 1-5 February 2016
First, about last week’s predictions:
- EUR/USD once again proved that the majority opinion may be wrong. The pair’s bullish sentiment was supported by only 25% of the experts and graphical analysis on D1 but it is they who turned out to be right – straight from the market opening, the pair went up sharply and then, as predicted, plunged as sharply almost to the level of the start of the week;
- a third of the experts talked about GBP/USD’s rise to 1.4550 while another third supported a transition into a sideways trend in a 1.4120-1.4330 range. The weekly chart shows that both groups were right as the pair stayed in this corridor all five days, occasionally attempting to break its upper boundary and reach the target height. However, none of these attempts succeeded, and the pair ended up near the level of the start of the week;
- there are times when all forecasts, including alternative ones, prove incorrect. This is what happened when the Bank of Japan unexpectedly introduced a negative interest rate policy for the first time, which resulted in the yen’s fall against all 16 major currencies. The USD/JPY pair needed just 1 day (29 January) to return to the level around which it had revolved during the past year;
- two weeks ago, the immediate target for USD/CHF was a rise to 1.0250. Last week, graphical analysis lowered it to 1.0210, which it shouldn’t have done as the pair easily reached 1.0255 on Friday, countering the rush to change forecasts.

Forecast for Coming Week
Summing up the views of scores of analysts from world leading banks and broker companies as well as forecasts based on various methods of technical and graphical analysis, the following can be said:
- opinions on EUR/USD once again turned out quite unanimous – 60% of the analysts, 100% of the indicators on all timeframes and graphical analysis at D1 vote for a fall to 1.0700 at least. With that, the pair may first rebound to resistance at 1.0990, then return to support at 1.0800, break through it and drop to 1.0700 and then further down to support at 1.0560;
- as for GBP/USD, 100% of the indicators look downward. However, the analysts differ. The indicators’ readings are supported by only 12% of the analysts and graphical analysis on H4. In their view, the pair will go down gradually to support at 1.4120. A sideways trend is backed by 38% of the experts. Graphical analysis on D1 and the remaining 50% of the experts reckon that GBP/USD will rebound further upward, trying to reach 1.4630. With this, graphical analysis indicates that after the rebound the pair will return to the current level of 1.4240 by the end of February;
- the decision by the Bank of Japan left graphical analysis and most experts perplexed. At the same time, 25% of the experts and 90% of the indicators insist USD/JPY should continue to rise up to 122.30-123.00, and only one analyst believes that the pair will return to January’s main support of 116.50;
- most experts and graphical analysis on H4 believe that USD/CHF will be moving in a 1.0200-1.0310 sideways channel for some time. However, graphical analysis on D1 insists that the pair should go down to support at 0.9920 and then enter a sideways corridor of 0.9920-1.0080. In the longer term, 40% of the analysts believe that 1.0310 is not the limit and the pair may rise to 1.0500.

Roman Butko, NordFX

Forex Forecast for 8-12 February 2016

First, a review of last week’s forecast:
- initially everything was going according to plan for EUR/USD – it rebounded to resistance at 1.0990 but then, instead of reversing and going down, it soared up to the values of last September-October. The reason for that was simply comments by US Federal Reserve official William Dudley who expressed doubts about the Federal Reserve raising interest rates in 2016;
- Mr. Dudley’s remarks helped the 50% of the experts who, backed by graphical analysis on D1, reckoned that GBP/USD would continue to move up to 1.4630. The pair reached this level on Wednesday and, as expected, went down, finishing the week around ​​1.4500;
- after the Bank of Japan introduced a negative interest rate policy, most experts were at a loss. Only one analyst believed that USD/JPY would return to the main support of January – 116.50, which happened, again thanks W. Dudley’s comments;
- graphical analysis on D1 insisted that USD/CHF should go down to support at 0.9920, and it did, mirroring EUR/USD’s movement.

Forecast for Upcoming Week
Summing up the views of several dozen analysts from world leading banks and broker companies as well as forecasts based on different methods of technical and graphical analysis, the following can be suggested:
- in the shorter term, the indicators and graphical analysis on H1 point to EUR/USD entering a sideways trend in a 1.1250-1.1220 range. As the previous week showed, all major currency pairs’ movements will certainly depend a lot on Fed Chairwoman Janet Yellen’s speech this Wednesday. After the speech, EUR/USD may rise to 1.1350. However, over 70% of the experts and graphical analysis on D1 believe that the market has almost recovered after the bad news from the Federal Reserve, and the pair should return to 1.0400-1.0600 in the next couple of weeks;
- the experts' opinions split almost 50/50 in regards to GBP/USD. According to the indicators and graphical analysis on H4, the pair will be moving in a horizontal 1.4400-1.4545 channel in the near future. In the longer term, 30% of the analysts and graphical analysis on D1 predict a rise to resistance at 1.4900. However, 60% of the experts don’t agree with this, insisting that the pair should fall and get to 1.4220 by the end of February;
- after USD/JPY nosedived last week, it’s clear that all indicators point downward. Considering the ‘war’ of interest rates between the Federal Reserve and the Bank of Japan, the experts seem unable to reach a consensus – 35% are for a fall, another 35% are for a rise, and the rest 30% are for a sideways trend in a 116.40-118.25 range;
- the analysts are undecided about USD/CHF. According to graphical analysis on H4 and D1, the pair will first go up to 0.9980, then fall to support at 0.9800, after which it is expected to rise to resistance at 1.0124 and return to around ​​1.025-1.032.

Roman Butko, NordFX

Double Success for NordFX in Forex Awards 2015
We are pleased to announce that NordFX has won in two nominations in the Forex Awards voting for 2015 – Best Micro Forex Broker and Best Execution Broker.
Every year since 2010, Forex Awards selects the best forex and binary options brokers. Their expert community of active traders and website visitors votes for winners in a wide range of prestigious categories.
We at NordFX are very appreciative of such high marks for the company’s efforts in 2015 and will continue to do our best to offer traders the best and the most useful for successful trading on Forex.

Forex Forecast for 15-19 February 2016

First, about last week’s forecast:
- the forecast for EUR/USD panned out 100% – the pair remained in a sideways trend until mid-week, then, after Fed Chairwoman Janet Yellen’s speech, it broke through resistance at 1.1250 and rose to 1.1350. On achieving this, the pair reverted to 1.1250, turning it into support;
- the forecast for GBP/USD was that the pair would be moving in a 1.4400-1.4545 horizontal channel all week long. That actually happened – the pair stayed between 1.4380 support and 1.4560 resistance for all five days;
- it appeared impossible to make an intelligible prediction for USD/JPY as the experts’ opinions were split almost equally. In fact, the indicators and those who foresaw a further spectacular nosedive proved right. In two weeks, the pair plunged from 121.70 to the bottom of 111.00, i.e. by over 1,000 points, and reached the level of October 2014;
- last week, the analysts were at a loss regarding USD/CHF. The indications of graphical analysis were only partially correct. As expected, at the beginning of the week the pair approached 0.9980, then went down and quickly reached support at 0.9800. After that, instead of rebounding, USD/CHF moved further down, touched the bottom at 0.9660 and only then returned to 0.9800.

Forecast for Coming Week
Summarizing the views of several dozen analysts from leading banks and broker companies as well as forecasts based on different methods of technical and graphical analysis, the following can be predicted:
- as for EUR/USD, 65% of the experts and the indicators on D1 talk about a continuing uptrend. At the same time, graphical analysis on D1 shows that the pair may go up to 1.1400 during the week and only then move down. The remaining 35% of the analysts and graphical analysis on H1 and H4 expect the pair to fall within the next five days. Graphical analysis, in turn, indicates that EUR/USD may stay in a sideways corridor of 1.1225-1.1320 for a day or two at the beginning of the week and then go down to the first support at 1.1150 and then even lower to 1.1030;
- according to graphical analysis, GBP/USD will first bounce to support at 1.4365 and then return to the upward trend that started in the last decade of January. The target is 1.4670. Both 60% of the analysts and the indicators on H1, H4 and D1 agree with this scenario. In the longer term, most experts tend to believe that the pair will again test the bottom of 1.4100;
- obviously the indicators haven’t yet come around after USD/JPY’s crash of the last two weeks. According to most experts and graphical analysis on H4, USD/JPY will continue its rebound up to resistance at 115.60;
- opinions about USD/CHF are split rather evenly – 40% of the experts are for a rise, 35% are for a fall and 25% are for a sideways trend. A similar pattern is observed with the indicators – a rise on H1, a fall on D1 and a compromise midway on H4 supporting neutral movement. Graphical analysis shows a further upward trend – on H4, the support line of the channel passes through the points of 0.9660 and 0.9720, and the resistance line passes through 0.9755 and 0.9810.

Roman Butko, NordFX

Forex Forecast for 22-26 February 2016

First, about the forecast for the previous week:
- as for EUR/USD, 35% of the analysts and graphical analysis on H1 and H4 were correct in their forecast that the pair would fall in the last five workdays. As predicted, the pair reached the first support at 1.1150 and then tried to reach the second support at 1.1030 but halfway through it reversed and finished the week at 1.1131;
- the GBP/USD pair’s drop was greater than expected. After breaking through support at 1.4365, the pair fell to 1.4245 and entered a 1.4245-1.4395 sideways channel with a 1.4310 Pivot Point;
- after the crash that started 1 February, the experts hoped that USD/JPY would rebound at least to 115.60 but it couldn’t even reach 115.00. The pair froze at 114.87 for half an hour and moved down again, finishing the week even lower than at the beginning of the week – around 112.55;
- the forecast for USD/CHF by graphical analysis and 40% of the analysts turned out to be totally correct. The pair continued to move upward to 0.9967, took a break and went down to support at 0.9890.

Forecast for Coming Week
Summarizing the views of several dozen analysts from world leading banks and broker companies as well as forecasts based on different methods of technical and graphical analysis, the following can be suggested:
- in the next 2-3 days, EUR/USD can rise a bit and reach resistance at 1.2222 as proposed by graphical analysis on H4 and the indicators on H1 and H4. In the longer term, the number of supporters of a downtrend grows in proportion to the time interval. Thus, in the weekly timeframe 55% of the experts vote for a fall, in the monthly timeframe it is already 65%, and in the quarterly one it’s 78%. Graphical analysis paints quite an apocalyptic picture on D1 – in the next 2-3 weeks, the pair may totally crash, hitting the bottom at 1.0500;
- as for GBP/USD, 40% of the experts and graphical analysis on H4 and D1 indicate that now the pair is at the top boundary of a 1.4200-1.4400 channel, along which it will be moving all week. This is echoed by 33% of the indicators on H4 and 75% of them on D1. At the same time, graphical analysis doesn’t rule out that end of this week or early next week, GBP/USD will break through the top boundary of the channel, turn resistance into support and continue its sideways trend in a 1.4400-1.4620 range with a 1.4500 pivot point;
- according to 60% of the experts, 100% of the indicators and graphical analysis, USD/JPY will continue to fall at least to 110.70 (the next support is at 110.00) and then bounce up first to the current level of 112.55 and afterwards higher, the target being 115.00;
- about 70% of the experts tend to believe that USD/CHF will rise first to the key level of 1.0000 and then up to 1.0200. Graphical analysis on H4 and the indicators on H4 and D1 show that before rising, the pair may spend some time in a 0.9830-0.9930 sideways trend with prevailing bearish sentiment.

Roman Butko, NordFX

Forex Forecast for 29 February - 4 March 2016

First, a review of last week’s forecast:
- the vast majority of the analysts and graphical analysis on D1 predicted a fall for EUR/USD, which happened, and the pair shed more than 200 points during the week;
- the prediction of 40% of the experts and graphical analysis that GBP/USD should bounce down from resistance at 1.4400 proved right. However, under the influence of the news about the UK’s EU membership referendum, instead of entering a sideways trend, the pair easily broke support at 1.4200 and crashed, finishing the week around the lows of 2001 and 2009;
- the forecast for USD/JPY panned out almost 100%. According to it, the pair was supposed to go down to support at 110.70, then shoot up to 112.55 and then even higher, ultimately targeting 115.00. In reality, the pair fell to 111.04, reversed upward, tested resistance at 112.55, broke through it on the second try, turning it into support, and soared up to 114.00;
- graphical analysis on H4 and the indicators on H4 and D1 were right about USD/CHF moving in a sideways channel for some time. At the same time, in line with the general trend to regain its position above 1.0000, the pair made several attempts to break through the top boundary of the channel, and it was able to consolidate just above 0.9960 by Friday evening.

Forecast for Coming Week
Generalizing the opinions of several dozen analysts from leading banks and broker companies as well as forecasts based on various methods of technical and graphical analysis, the following can be said:
- the forecast for EUR/USD for March remains unchanged – first, the pair should break through support at 1.0800 and then at 1.0700, reach the bottom around 1.0500 and try to recover losses by returning to the current level of 1.0930. This scenario is supported by 54% of the experts, 90% of the indicators and graphical analysis on D1. As for the coming week, 70% of the analysts expect the pair to bounce up and temporarily return to 1.1066-1.1150. The remaining experts are split evenly – 15% for a fall and 15% for a sideways trend;
- all the indicators on H4 and D1 point downward for GBP/USD. The analysts’ opinions are divided, with the bulls having an edge – 50% vote for a rise and 40% for a drop. According to graphical analysis on H4 and D1, in the next few weeks, the pair will still try to reach the low of 2009 at 1.3500, after which it will return to resistance at 1.4080. With this said, graphical analysis on H1 elaborates that before going downward, the pair may rise a bit and reach 1.3910;
- in their attempt to predict USD/JPY’s movement, both experts and indicators are quite neutral, with somewhat bullish sentiment. Graphical analysis agrees with them overall – USD/JPY should first rise to 114.50 (or even to 115.00) and only then go down to support at 112.55;
- as for USD/CHF, 65% of the experts tend to believe that after reaching the key level of 1.0000, the pair will rebound to another strong level of 0.9800 and only then move up again to 1.0200-1.0300. This is echoed by the indicators and graphical analysis, the latter drawing support 100 points higher at 0.9900.

Roman Butko, NordFX

Forex Forecast for 7-11 March 2016

For starters, an overview of last week’s forecast:
- the forecast for EUR/USD can be counted as fulfilled. Executing the suggested monthly scenario, the pair first tried to break support at 1.0800, failed to do it and moved on to the weekly scenario. According to most experts’ predictions, the pair bounced upward and reached 1.1043 on Friday following the news from the USA;
- as for GBP/USD, those 50% of the experts who had voted for the pair’s rise were right. Although, graphical analysis on H1 supporting them had underestimated the bulls’ power – the pair quickly turned resistance at 1.3910 into support, rebounded off it and got to resistance at 1.4248 by the end of the week;
- the experts and the indicators were neutral in their forecasts for USD/JPY and were quite right. The pair finished the week exactly at the same level it had started from. With a little tolerance, graphical analysis was also correct setting the boundaries of the side channel as 112.55 and 114.50;
- the experts suggested that on reaching the key level of 1.0000, USD/CHF would drop to 0.9800. Graphical analysis agreed elaborating that support could be 100 points higher and proved right – after going down, the pair never managed to drop below a 0.9880-0.9910 resistance zone.


Forecast for Coming Week
Generalizing the views of several dozen analysts from world leading banks and broker companies as well as forecasts based on various types of technical and graphical analysis, the following can be said:
- the experts are surprisingly unanimous about EUR/USD this time. Most of them (65%) vote for a downtrend both on the weekly and monthly intervals. Graphical analysis on H1 and H4 agrees with them, clarifying that the pair should first descend to around 1.0910, after which it can bounce back to the current level of 1.1010 and enter a sideways trend for some time. Graphical analysis and the indicators on D1 show larger fluctuations – a fall to 1.0710 and a rise to last February’s high of 1.1340;
- there’s unanimity among the analysts regarding GBP/USD. On the weekly and monthly intervals, 60% of them vote for a fall, 30% for a sideways trend and only 10% for a rise. It’s obviously a different story with the indicators – on H1, all of them point to a rise; on H4, their number is 83% and it’s just 50% on D1. Graphical analysis draws a 1.4070-1.4375 side channel whereas first, the pair may fluctuate in a narrower range from 1.4150 to 1.4250;
- according to the indicators on all timeframes and graphical analysis on H4, USD/JPY will continue its sideways trend within 113.00-114.50 at the beginning of the week. Only about 20% of the analysts support this. Their overwhelming majority believes that the pair should rise and try to reach ​​116.00-116.50 while just one analyst expects another fall to support at 111.00;
- most experts (55%) stick with the view that USD/CHF should make it to support at 0.9800 after all. Then it should reverse upwards, break the defence line of 1.0000 and return to 1.0100-1.0200 within a month. Graphical analysis agrees with this overall, adjusting support 50 points up at 0.9850.

Roman Butko, NordFX