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NZD/USD Forecast – New Zealand Dollar Surging Higher Vs US Dollar

NZD/USD Forecast – New Zealand Dollar Surging Higher Vs US Dollar

  • – The New Zealand Dollar found a strong buying interest near 0.6755 against the US Dollar.
  • – There was a break above a crucial bearish trend line with resistance near 0.6760 on the hourly chart of the NZDUSD pair.
  • – Today in New Zealand, the Consumer Price Index for Q2 2018 was released by the Statistics New Zealand.
  • – The outcome was below the market forecast of +0.5% (QoQ) as there was a rise in the CPI by 0.4%.

 

New Zealand Consumer Price Index

Today in New Zealand, the Consumer Price Index for Q2 2018 was released by the Statistics New Zealand. The market was looking for a rise of around 0.5% in the CPI in Q2 2018 compared with the previous quarter.

 

The actual result was below the market forecast of +0.5% (QoQ) as there was a rise in the CPI by 0.4%. Looking at the yearly change, there was a rise of 1.5% in the CPI, which was less than the forecast of 1.6%, but a lot more than the last 1.1%. The report added that:

 

The largest contributor to inflation was higher prices for housing and household utilities, up 0.9 percent this quarter, and 3.1 percent in the year to June 2018.

 

The NZD/USD pair gained bullish momentum above the 0.6800 level and it seems like the pair may accelerate gains in the near term.

 

NZD/USD Technical Analysis

The New Zealand Dollar formed a solid support base above the 0.6750 level against the US Dollar. The NZD/USD jumped sharply higher, broke the 0.6760, 0.6780 and 0.6800 resistances, and settled above the 100 hourly simple moving average.

 

NZD/USD Technical Analysis New Zealand Dollar US Dollar

 

During the upside move, there was a break above a crucial bearish trend line with resistance near 0.6760 on the hourly chart of the NZDUSD pair. The pair also moved above the 61.8% Fib retracement level of the last decline from the 0.6856 high to 0.6725 low.

 

It has opened the doors for more gains and the pair could surge towards the 0.6850 level in the short term since it is about to settle above the 76.4% Fib retracement level of the last decline from the 0.6856 high to 0.6725 low.

 

Overall, the market sentiment is bullish and dips in NZD/USD are likely to find support near 0.6800 and 0.6780.

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AUD/USD Forecast – Aussie Dollar Facing Key Resistance Vs US Dollar

AUD/USD Forecast – Aussie Dollar Facing Key Resistance Vs US Dollar

  • – The Aussie Dollar recovered nicely from the 0.7365 swing low against the US Dollar.
  • – There is a major bearish trend line formed with resistance near 0.7430 on the hourly chart of the AUD/USD pair.
  • – Recently in China, the Gross Domestic Product (GDP) for Q2 2018 was released by the National Bureau of Statistics of China.
  • – The outcome was above the forecast of +1.6% as there was a rise in the Chinese GDP by 1.8% (QoQ).

China’s Gross Domestic Product

Recently in China, the Gross Domestic Product (GDP) for Q2 2018 was released by the National Bureau of Statistics of China. The market was positioned for a rise in the GDP by 1.6% in Q2 2018 compared with the previous quarter.

 

The actual result was above the forecast of +1.6% as there was a rise in the Chinese GDP by 1.8%. Considering the yearly change, there was a rise of 6.7% in the GDP, which was in line with the forecast, but less than the last reading of +6.8%.

 

The AUD/USD pair is placed in a bullish zone, but it has to break the 0.7430-35 resistance zone to accelerate gains in the near term.

 

AUD/USD Technical Analysis

The Aussie Dollar started a decent upside move from the 0.7360 low against the US Dollar. The AUD/USD pair traded above the 0.7400 level to move into a bullish zone. An intermediate low was formed at 0.7367 and the pair is currently trading above the 100 hourly simple moving average.

 

AUD/USD Technical Analysis Aussie Dollar US Dollar

 

The recent upside move faced a strong resistance near the 0.7435 level. There is also a major bearish trend line formed with resistance near 0.7430 on the hourly chart of the AUD/USD pair. The pair is currently correcting lower and it already broke the 23.6% Fib retracement level of the last wave from the 0.7367 low to 0.7435 high.

 

However, there are many supports on the downside, starting with 0.7410 and the 100 hourly SMA. Below this, the 0.7400 level is a key support along with the 50% Fib retracement level of the last wave from the 0.7367 low to 0.7435 high.

 

As long as the pair is above the 0.7400 support area, it could make an upside move above 0.7430 resistance in the near term. If not, it could retest the 0.7365 low.

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EUR/USD Forecast – Euro Could Extend Losses Vs US Dollar

EUR/USD Forecast – Euro Could Extend Losses Vs US Dollar

  • – The Euro remained in a bearish zone below the 1.1700 level against the US Dollar.
  • – There is a major bearish trend line formed with resistance at 1.1672 on the hourly chart of EUR/USD.
  • – Recently in the US, the Initial Jobless Claims figure for the week ending July 07, 2018 was released by the US Department of Labor.
  • – The outcome was above the market forecast of 225K as there was a decline in claims from the last revised reading of 232K to 214K.

US Initial Jobless Claims

Recently in the US, the Initial Jobless Claims figure for the week ending July 07, 2018 was released by the US Department of Labor. The market was looking for a decline in claims from the last reading of 231K to 225K.

 

The actual result was above the market forecast of 225K as there was a decline in claims from the last revised reading of 232K to 214K. Considering at the 4-week moving average, there was a decrease of 1,750 to 223,000 from the previous week’s revised average of 224,750.

 

The EUR/USD pair was under pressure and it seems like there are chances of more losses towards the 1.1620 level in the near term.

 

EUR/USD Technical Analysis

The Euro started a major downside move from well above the 1.1740 level against the US Dollar. The EUR/USD pair declined below the 1.1700 and 1.1675 support levels to settle well below the 100 hourly simple moving average.

 

EUR/USD Technical Analysis Euro US Dollar

 

The pair traded as low as 1.1649 and later it started an upside correction. It moved above the 23.6% Fib retracement level of the last decline from the 1.1758 high to 1.1649 low. However, the upside move was capped by the 1.1700 resistance.

 

Moreover, the 38.2% Fib retracement level of the last decline from the 1.1758 high to 1.1649 low also acted as a resistance. Additionally, there is a major bearish trend line formed with resistance at 1.1672 on the hourly chart of EUR/USD.

 

Therefore, if the pair fails to move above the 1.1675 and 1.1700 resistance levels, there is a risk of a downside break towards the 1.1620 support in the near term. Below 1.1620, the next supports sits at 1.1600.

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GBP/USD Forecast – British Pound Could Decline Further Vs US Dollar

GBP/USD Forecast – British Pound Could Decline Further Vs US Dollar

  • – The British Pound failed to break the 1.3280-1.3300 resistance area and declined against the US Dollar.
  • – There is a major bearish trend line in place with resistance at 1.3225 on the hourly chart of the GBP/USD pair.
  • – Recently in the UK, the RICS Housing Price Balance report for June 2018 was released by the Royal Institution of Chartered Surveyors.
  • – The outcome was above the forecast of -2% as there was a rise in the RICS Housing Price by 2% in June 2018.

 

UK RICS Housing Price Balance

Recently in the UK, the RICS Housing Price Balance report for June 2018 was released by the Royal Institution of Chartered Surveyors. The market was positioned for a decline of around 2% the RICS Housing Price in June 2018.

 

The actual was above the forecast of -2% as there was a rise in the RICS Housing Price by 2% in June 2018. It was also better when compared with the last decline of -3%. The report added that:

 

Activity indicators suggest subdued picture in the market will persist, improvement in new properties coming to the market likely to be very short-lived, and rent expectations consistent with the lack of new supply.

 

The GBP/USD pair is currently under bearish pressure and it seems like the pair could extend losses towards the 1.3160 level in the near term.

 

GBP/USD Technical Analysis

The British Pound started an upside correction from the 1.3189 low against the US Dollar. The GBP/USD pair traded above the 1.3250 resistance and the 100 hourly simple moving average. However, the pair faced a strong resistance near the 1.3280-1.3300 zone.

 

GBP/USD Technical Analysis British Pound US Dollar

 

As a result, the pair declined sharply and broke the 1.3250 support and the 100 hourly SMA. The pair also broke the 76.4% fib retracement level of the last wave from the 1.3189 low to 1.3300 high. It is currently trading near the 1.3289 swing low and it remains at a risk of more losses.

 

A downside break could push the pair towards the 1.236 Fib extension level of the last wave from the 1.3189 low to 1.3300 high at 1.3162. Below this, the pair may perhaps test the 1.3150 level.

 

On the upside, an initial resistance is near the 1.3220 resistance, above which, there is a major bearish trend line in place with resistance at 1.3225 on the hourly chart of the GBP/USD pair.

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LMFX Crystal Ball: Predict & Win

LMFX Crystal Ball: Predict & Win

  • Posted: Jul 11, 2018
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LMFX always cares about their clients, probably more than any other Forex brokers. They always make sure that the traders at LMFX stay at LMFX.That’s why they have adopted some effective ways to keep the traders engaged and interested in their platform.

 

Giving their clients a chance to win a big bonus by participating in contests, investing big in trades, and depositing a good sum, is their way of saying “we want you here, we don’t want you to leave this platform.”

 

LMFX has arranged different bonus and promotional offers for their traders. Apart from their Phoenix Recovery Bonus and Deposit Match Bonus, they have a Crystal Ball contest that gives the traders at LMFX a good chance to win a fortune.

 

What is Crystal Ball?

 

I bet you have seen those glowing crystal balls on movies and TV shows where a fortuneteller sits behind it and cast spells to see your future. No, this is not that type of crystal ball that I’m talking about. You can’t see your future in this crystal ball. But you can guess and that’s what this is about.

 

LMFX allows you to guess the closing price of a currency pair for Monday at 12 o’clock midday. By guessing this correctly, any trader can win a bonus. There will be 3 winners, 1st, 2nd and 3rd who will win up to $1,000.

 

How is the winner decided?

 

Some might say that guessing the exact price is close to important. Yes, that’s true in a sense, but you can get very close to the exact figure if you analyze the data of previous weeks. And shockingly, you don’t have to be precise to win the bonus. You just need to be as close as possible.

 

For example, say Larry said British Pound’s price will fall and come close to $1.48 this Monday, John said that the price will be closer to $1.39, Mike predicted $1.52 and Lew guessed $1.2.

 

Say the price stood around $1.42 at Monday 12 pm. So, the best guess among John, Mike, Clark, and Larry is John’s $1.39 prediction because his $1.39 is closer to $1.42 than $1.48, $1.52 and $1.2. So, this week’s 1stwinner is John and he will get the $1,000 prize. But there are2 other prizes for the second and third best guess. So, Larry will get the 2nd place and Mike will be 3rd.

 

Yes, total 3 bonus, up to $1,000.

 

This is just example. It doesn’t have to be British Pounds and Dollars. It can be Euros and Dollars, Euros and Dollars or Dollars and Taka. Any currency you like is open for you to predict.

 

In real time trading, the difference is very minimal. Besides, there will be a good number of participants who would like to give it a shot. That’s why it is tough to get the prediction closer to the exact figure. But if somehow you get it right, you win the grand prize of $1,000.

 

Who is eligible for this?

 

Every trader who registered their mobile number with the LMFX platform is eligible for this contest.

 

Yes, you need to have a full LMFX account to participate in the prediction contest. Other information about their contests is on their website.

 

For more info, please click here

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USD/JPY Forecast – US Dollar Gaining Momentum Vs Japanese Yen

USD/JPY Forecast – US Dollar Gaining Momentum Vs Japanese Yen

  • – The US Dollar is placed in a bullish trend above the 110.80 support area against the Japanese Yen.
  • – There is a key bullish trend line formed with support at 110.85 on the hourly chart of the USD/JPY pair.
  • – Recently in Japan, the Machinery New Orders figure for May 2018 was released by the Cabinet Office.
  • – The outcome was above the market forecast of +8.6% as there was a rise in orders by 16.5% (YoY).

 

Japan’s Machinery New Orders

Recently in Japan, the Machinery New Orders figure for May 2018 was released by the Cabinet Office. The market was positioned for a rise of around 8.6% in orders in May 2018 compared with the last same month a year ago.

 

The actual result was above the market forecast of +8.6% as there was a rise in orders by 16.5%. Looking at the monthly change, there was a decline of 3.7% in orders, which was less than the forecast of -5.5%. However, it was well below the last reading of +10.1%.

 

The USD/JPY pair is moving higher and it seems like the pair may perhaps continue to move higher above the 111.20 level in the near term.

 

USD/JPY Technical Analysis

The US Dollar started a nice upside move from the 110.40 swing low against the Japanese Yen. The USD/JPY pair jumped above the 110.80 and 111.00 resistance levels to move into a bullish zone above the 100 hourly simple moving average.

 

USD/JPY Technical Analysis US Dollar Japanese Yen

 

The pair traded as high as 111.35 before starting a downside correction. It declined and tested the 110.80 support area where buyers appeared. It again started moving higher and broke the 50% Fib retracement level of the last decline from the 111.35 high to 110.76 low.

 

The pair is placed nicely in a bullish zone and it seems like it could move above the 111.20 level soon to retest the 111.35 high. Above this, the pair will most likely test 111.50. An initial resistance sits around the 76.4% Fib retracement level of the last decline from the 111.35 high to 110.76 low at 111.21.

 

On the downside, the pair remains supported near the 111.00 level and a key bullish trend line with support at 110.85 on the hourly chart.

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Gold Price Could Resume Upside Above $1,260 Vs US Dollar

Gold Price Could Resume Upside Above $1,260 Vs US Dollar

  • – Gold price traded as high as $1,265 before starting a downside correction against the US Dollar.
  • – There is a major bullish trend line in place with support at $1,255 on the hourly chart of gold versus the USD.
  • – Recently in China, the Consumer Price Index for June 2018 was released by the National Bureau of Statistics of China.
  • – The outcome was below the forecast of 0% as there was a decline in the CPI in June 2018 by 0.1%.

Chinese CPI

Recently in China, the Consumer Price Index for June 2018 was released by the National Bureau of Statistics of China. The market was looking for no change in the CPI in June 2018 compared with the previous month.

 

The actual result was below the forecast of 0% as there was a decline in the CPI in June 2018 by 0.1%. Looking at the yearly change, there was a rise of 1.9% in the CPI, more than the last +1.8%. On the positive side, the Producer Price Index in June 2018 rose 4.7% (YoY), more than the forecast of +4.5%.

 

Gold price is currently correcting lower, but it remains well supported above the $1,255 and $1,252 levels.

 

Gold Price Technical Analysis

There was a decent upside wave in gold price from the $1,251 low against the US Dollar. The price traded higher and broke the $1,258 and $1,260 resistance levels to settle above the 100 hourly simple moving average.

 

Gold Price Technical Analysis

 

The price traded as high as $1,265 and later it started a downside correction. It moved down and broke the 38.2% Fib retracement level of the last wave from the $1,251 low to $1,265 high. However, declines were protected by the $1,255-1,256 support zone.

 

There is also a major bullish trend line in place with support at $1,255 on the hourly chart of gold versus the USD. The same trend line is near the 61.8% Fib retracement level of the last wave from the $1,251 low to $1,265 high.

 

Therefore, it seems like the price remains well supported above the $1,255 level. A break above the $1,260 level could open the doors for an upside move towards $1,265.

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EUR/JPY Forecast – Euro Could Surged Above 130.00 Vs Japanese Yen

EUR/JPY Forecast – Euro Could Surged Above 130.00 Vs Japanese Yen

  • – The Euro is trading with a bullish bias and is placed nicely above the 129.50 support against the Japanese Yen.
  • – There is a crucial bullish pattern formed with support at 129.75 on the hourly chart of EUR/JPY.
  • – Today in Japan, the Current Account report for May 2018 was released by the Ministry of Finance.
  • – The outcome was above the market forecast of ¥1,240B as there was a trade surplus of ¥1,938B.

 

Japan’s Current Account

Today in Japan, the Current Account report for May 2018 was released by the Ministry of Finance. The market was looking for a trade surplus of around ¥1,240B in May 2018 compared with the last reading of ¥1,845B.

 

However, the actual result was above the market forecast of ¥1,240B as there was a trade surplus of ¥1,938B. It was also above the last reading of ¥1,845B. Moreover, the Bank lending figure for June 2018 (YoY) was, released by Bank of Japan. It posted an increase of 2.2%, more than the last 2.0%.

 

The EUR/JPY pair is currently positioned in the bullish zone and it seems like it may continue to move higher above 130.00 and 130.15 in the near term.

 

EUR/JPY Technical Analysis

The Euro formed a decent support base above the 128.50 level against the Japanese Yen. The EUR/JPY pair started an upside move, traded above the 129.00 and 129.50 resistance levels, and settled above the 100 hourly simple moving average.

 

EUR/JPY Technical Analysis Euro Japanese Yen

 

The pair is currently trading above the 76.4% Fib retracement level of the last decline from the 129.96 high to 129.60 low. It indicates that the pair may perhaps continue to move higher above the 129.96 high in the near term.

 

The next stop could be the 1.236 Fib extension level of the last decline from the 129.96 high to 129.60 low at 130.04. Above this, the pair could even trade towards the 130.20 level and the 1.618 Fib extension level of the same decline.

 

Moreover, there is a crucial bullish pattern formed with support at 129.75 on the hourly chart of EUR/JPY. Therefore, dips remain well supported above the 129.75 and 129.60 levels in the near term.

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EUR/USD Forecast – Euro Eyeing Further Upsides Vs US Dollar

EUR/USD Forecast – Euro Eyeing Further Upsides Vs US Dollar

  • – The Euro traded higher this week and settled above the 1.1650 resistance against the US Dollar.
  • – There is a key contracting triangle in place with support at 1.1675 on the hourly chart of EUR/USD.
  • – Recently in the US, the Initial Jobless Claims figure for the week ending July 01, 2018 was released by the US Department of Labor.
  • – The outcome was below the market forecast of 225K as there was a rise in claims from the last revised reading of 228K to 231K.

US Initial Jobless Claims

Recently in the US, the Initial Jobless Claims figure for the week ending July 01, 2018 was released by the US Department of Labor. The market was looking for a rise in claims from the last reading of 218K to 220K.

 

The actual result was below the market forecast of 225K as there was a rise in claims from the last revised reading of 228K to 231K. Looking at the 4-week moving average, there was an increase of 2,250 to 224,500 from the previous week’s revised average of 222,250.

 

The EUR/USD pair remained in a bullish zone and it seems like the pair may continue to trade higher above the 1.1700 level in the near term.

 

EUR/USD Technical Analysis

The Euro formed a decent support base below the 1.1620 level and moved higher against the US Dollar. The EUR/USD pair climbed above the 1.1650 and 1.1700 resistance levels to settle above the 100 hourly simple moving average.

 

EUR/USD Technical Analysis Euro US Dollar

 

The pair traded as high as 1.1719 before it started a downside correction. It declined and broke the 38.2% Fib retracement level of the last wave from the 1.1630 low to 1.1719 high. However, the decline was protected by the 1.1670-75 support area.

 

Moreover, the 50% Fib retracement level of the last wave from the 1.1630 low to 1.1719 high also acted as a support. At the moment, it seems like there is a key contracting triangle in place with support at 1.1675 on the hourly chart of EUR/USD.

 

As long as the pair is holding the 1.1675 support, it remains in a bullish zone and it could continue to move higher above the 1.1700 and 1.1720 levels.

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Everything You Need To Know About Withdrawing From eToro

Everything You Need To Know About Withdrawing From eToro

  • Posted: Jul 05, 2018
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eToro’s withdrawal system is comparatively simple and easy. But there are some basic queries that every new trader and a to-be trader sometimes has.

 

I’m going to answer them all.

 

When can a trader withdraw from his account?

 

If you are a registered trader at eToro you can do it anytime you want. There is no time restriction for the withdrawal process.

 

How much can you withdraw?

 

You need to keep at-least the margin amount on your account. The rest is open to the trader for withdrawal.

 

Here are some of the basic conditions that a trader needs to fulfill before he can request a withdrawal.

 

  1. The minimum withdrawal amount is $50. A trader cannot request a withdrawal less than $50.
  2. The account must be verified. There will be a green tick mark to indicate whether your account is verified or not. If it is not verified, contact their support team and upload the required documents for verification.

 

What Withdrawal Methods are supported by eToro?

 

Funds in eToro are deposited by three popular methods. These include Credit cards, PayPal account, and Bank transfers. For withdrawal, the same three methods can be used. But it is advised for the traders to use the exact same method for withdrawal that is used for the deposit. For example, if a trader uses PayPal to deposit $500, PayPal should be used for the withdrawal.

 

But eToro asks for an alternative withdrawal method for cases where the first withdrawal method isn’t available anymore.

 

How much time does it take to process the withdrawal request?

 

Once a withdrawal request is received, it goes to eToro for evaluation. After checking all the information the request gets processed. In most cases, the request is processed within 1 business day.

 

When will the fund add to my account?

 

After the request is processed, it usually takes sometime before the fund is added to your given account. Mainly the time varies from the payment provider to another payment provider.

 

For China Union pay, it usually takes up to 2 business days before the funds are available to your account. For both credit card and debit card, the time is 5 working days at most. For online payment providers like, PayPal, Skrill, Neteller, and WebMoney, the usual time to reach the fund is 1-2 business days. But for wire transfers, it may take up to 5 business days.

 

What are the withdrawal charges?

 

For every withdrawal from eToro trading account, there is a fee and it is $25. But if the withdrawal is not in US Dollars, there will be an additional currency exchange fee added to the total $25.

 

When do you know if your request for withdrawal has been accepted or processed?

 

There are two ways you can check whether your payment request has been processed or not. First of all, you can check your email inbox for a mail regarding the withdrawal request, which will also include which payment provider you chose. You can also check the request status by clicking on the portfolio tab. Then click on history where you’ll see the withdrawal status.

 

For more info, please visit: ETORO Broker Review

 

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