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  • AUD/USD Forecast – Aussie Dollar Could Extend Declines Vs US Dollar

    AUD/USD Forecast – Aussie Dollar Could Extend Declines Vs US Dollar

    • – The Aussie Dollar declined heavily and broke the 0.7480 support against the US Dollar.
    • – There is a key bearish trend line formed with resistance near 0.7430 on the hourly chart of the AUD/USD pair.
    • – Recently in Australia, the House Price Index for Q1 2018 was released by the Australian Bureau of Statistics.
    • – The outcome was above the forecast of -1.0% as there was a decline of 0.7% in the index (QoQ).

    Australia’s House Price Index

    Recently in Australia, the House Price Index for Q1 2018 was released by the Australian Bureau of Statistics. The market was positioned for a decline of around 1.0% in the HPI in Q1 2018 compared with the previous quarter.

     

    The actual result was above the forecast of -1.0% as there was a decline of 0.7% in the index. The yearly change in the GDP was also above the forecast of +1.7%, as there was a rise of 2.0% in the HPI. However, the current reading was well below the last reading of +5.0%.

     

    The AUD/USD pair is currently in a bearish zone and it seems like the pair may accelerate declines below 0.7400 in the near term.

     

    AUD/USD Technical Analysis

    The Aussie Dollar faced a solid selling interest above the 0.7520 level against the US Dollar. The AUD/USD pair started a major downside move and traded below the 0.7500 and 0.7480 resistance levels to move into a bearish zone below the 100 hourly simple moving average.

     

    AUD/USD Technical Analysis Aussie Dollar US Dollar

     

    The decline was such that the pair even broke the 0.7440 and 0.7400 support levels. A low was formed near 0.7392 before the pair started upside correction. It traded higher above the 0.7400 level and the 23.6% Fib retracement level of the last decline from the 0.7453 high to 0.7392 low.

     

    However, the upside move was capped by the 0.7425 resistance. Moreover, the 50% Fib retracement level of the last decline from the 0.7453 high to 0.7392 low acted as a barrier.

     

    The pair is again trading lower and it may perhaps break the recent low near 0.7392 for more losses in the near term. On the upside, there is a key bearish trend line formed with resistance near 0.7430 on the hourly chart of the AUD/USD pair.

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  • AUD/USD Forecast – Aussie Dollar Remains in Uptrend Vs US Dollar

    AUD/USD Forecast – Aussie Dollar Remains in Uptrend Vs US Dollar

    • – The Aussie Dollar traded higher recently and settled above 0.7640 against the US Dollar.
    • – There was a break above a major bearish trend line with resistance at 0.7630 on the hourly chart of the AUD/USD pair.
    • – Recently in Australia, the Gross Domestic Product for Q1 2018 was released by the Australian Bureau of Statistics.
    • – The outcome was above the forecast of 0.9% as the GDP grew by 1% in Q1 2018 (QoQ).

    Australia’s Employment Change

    Recently in Australia, the Gross Domestic Product for Q1 2018 was released by the Australian Bureau of Statistics. The market was positioned for a rise of around 0.9% in the GDP in Q1 2018 compared with the previous quarter.

     

    The actual result was above the forecast of 0.9% as the GDP grew by 1% in Q1 2018. The yearly change in the GDP was also above the forecast of 2.8%, as there was a rise of 3.1% in the GDP, which was also a lot higher than the last 2.5%.

     

    The AUD/USD pair moved higher and it is currently placed nicely in a bullish zone above the 0.7600 and 0.7640 support levels.

     

    AUD/USD Technical Analysis

    The Aussie Dollar started a solid upside move from the 0.7550 swing low against the US Dollar. The AUD/USD pair jumped above a few resistance levels and settled above 0.7600 and the 100 hourly simple moving average.

     

    AUD/USD Technical Analysis Aussie Dollar US Dollar

     

    During the upside, there was a break above a major bearish trend line with resistance at 0.7630 on the hourly chart of the AUD/USD pair. The pair also succeeded in breaking the 0.7640 resistance, opening the doors for more gains.

     

    The recent high was at 0.7664 before the pair started consolidating gains. On the downside, an initial support is near the 23.6% Fib retracement level of the last wave from the 0.7594 low to 0.7664 high at 0.7647.

     

    However, there are many supports on the downside near 0.7620 and a bullish trend line on the same chart. On the upside, a break above the 0.7660 level may open the doors for more gains, possibly towards the 0.7700 handle in the near term.

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  • AUD/USD Forecast – Aussie Dollar may Trade Further Higher Vs US Dollar

    AUD/USD Forecast – Aussie Dollar may Trade Further Higher Vs US Dollar

    • – The Aussie Dollar gained upside momentum and moved above the 0.7500 resistance against the US Dollar.
    • – The AUD/USD pair is currently testing a key bearish trend line with resistance at 0.7545 on the hourly chart.
    • – Recently in Australia, the Employment Change for April 2018 was released by the Australian Bureau of Statistics.
    • – The outcome was above the forecast of 20K as there was a change of 22.6K in the employment.

    Australia’s Employment Change

    Recently in Australia, the Employment Change for April 2018 was released by the Australian Bureau of Statistics. The market was positioned for a change of 20K in the employment compared with the last reading of 4.9K.

     

    The actual result was above the forecast of 20K as there was a change of 22.6K in the employment. However, the unemployment rate posted a rise from the last reading of 5.5% to 5.6%. The report stated that:

     

    Unemployment increased 10,600 to 741,000. The number of unemployed persons looking for full-time work decreased 17,100 to 506,100 and the number of unemployed persons only looking for part-time work increased 27,600 to 234,900.

     

    The AUD/USD pair spiked higher above 0.7520 and it seems like the pair may continue to move higher in the near term.

     

    AUD/USD Technical Analysis

    The Aussie Dollar found strong buying interest near the 0.7440 level against the US Dollar. The AUD/USD pair started an upside move and traded above the 0.7460 and 0.7500 resistance levels to settle above the 100 hourly simple moving average.

     

    AUD/USD Technical Analysis Aussie Dollar US Dollar

     

    The pair also moved above the 50% Fib retracement level of the last decline from the 0.7566 high to 0.7447 low. At the moment, the AUD/USD pair is currently testing a key bearish trend line with resistance at 0.7545 on the hourly chart.

     

    The pair has to break the trend line resistance, and settle above the 76.4% Fib retracement level of the last decline from the 0.7566 high to 0.7447 low for more gains.

     

    A successful close above 0.7545 and 0.7550 could clear the path for a push towards the 0.7580 and 0.7600 resistance levels. On the downside, supports are seen at 0.7520 and 0.7500 where buyers are likely to protect declines.

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  • AUD/USD Forecast – Aussie Dollar Facing Major Resistance Vs US Dollar

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

    • – The Aussie Dollar started a decent recovery after trading as low as 0.7471 against the US Dollar.
    • – There is a major bearish trend line forming with resistance at 0.7530 on the hourly chart of AUD/USD.
    • – Recently in Australia, the trade balance report for March 2018 was released by the Australian Bureau of Statistics.
    • – The outcome was above the forecast of 650M as there was a trade surplus of 1,527M.

    Australia’s Trade Balance

    Recently in Australia, the trade balance report for March 2018 was released by the Australian Bureau of Statistics. The market was positioned for a trade surplus of 650M, compared with the last 825M.

     

    The actual result was above the forecast of 650M as there was a trade surplus of 1,527M. Imports of goods and services in March 2018 rose 1%, which was better than the last 0%. Exports of goods and services in March 2018 rose 1%, which was above the last 0%.

     

    The AUD/USD pair is currently trading higher, but it has to break the 0.7530 resistance level to gain further in the near term.

     

    AUD/USD Technical Analysis

    The Aussie Dollar declined recently and broke the 0.7500 support area against the US Dollar. The AUD/USD pair even traded below the 0.7480 support and formed a low at 0.7471. Later, it started an upside correction and moved above 0.7500.

     

    AUD/USD Technical Analysis Aussie Dollar US Dollar

     

    The pair also recovered above the 38.2% Fib retracement level of the last decline from the 0.7583 high to 0.7471 low. However, there are many hurdles on the upside near 0.7530 and the 100 hourly simple moving average.

     

    There is also a major bearish trend line forming with resistance at 0.7530 on the hourly chart of AUD/USD. The same trend line is close to the 50% Fib retracement level of the last decline from the 0.7583 high to 0.7471 low.

     

    Therefore, a break above 0.7530 and the 100 hourly SMA is must for more gains in the near term. If the pair fails to move above the 0.7530 resistance, it could resume its downtrend. On the downside, supports are at 0.7500 and 0.7480. A break below 0.7480 and 0.7470 could open the doors for a push towards 0.7450.

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  • AUD/USD Forecast – Can Aussie Dollar Break This Resistance Vs US Dollar?

    AUD/USD Forecast – Can Aussie Dollar Break This Resistance Vs US Dollar?

    • – The Aussie Dollar declined recently and traded towards 0.7550 against the US Dollar.
    • – There is a crucial bearish trend line forming with resistance at 0.7580 on the hourly chart of AUD/USD.
    • – Recently in Australia, the Import Price Index for Q1 2018 was released by the Australian Bureau of Statistics.
    • – The outcome was above the forecast of +1.3% as there was a rise in the index by 2.1% (QoQ).

    Australia’s Import Price Index

    Recently in Australia, the Import Price Index for Q1 2018 was released by the Australian Bureau of Statistics. The market was positioned for a rise of 1.3% in the index in Q1 2018 compared with the previous quarter.

     

    The actual result was above the forecast of +1.3% as there was a rise in the index by 2.1% (QoQ). This was also above the last reading of 2%. Similarly, the Export price index registered a rise of 4.9%, which was more than the forecast of 4.1%.

     

    The AUD/USD pair is currently consolidating above the 0.7500 support, but it remains at a risk of more declines.

     

    AUD/USD Technical Analysis

    The Aussie Dollar started a major downside move from the 0.7800 swing high against the US Dollar. The AUD/USD pair declined and tumbled by more than 200 pips below 0.7600. During the decline, it broke the 0.7650 and 0.7620 support levels to settle below the 100 hourly simple moving average.

     

    AUD/USD Technical Analysis Aussie Dollar US Dollar

     

    It traded as low as 0.7551 and is currently consolidating losses. An initial resistance is near the 23.6% Fib retracement level of the last decline from the 0.7682 high to 0.7551 low. There is also a crucial bearish trend line forming with resistance at 0.7580 on the hourly chart of AUD/USD.

     

    The pair has to break the trend line resistance and then 0.7600 to start a recovery. Above 0.7600, the pair may face sellers near the 50% Fib retracement level of the last decline from the 0.7682 high to 0.7551 low at 0.7616.

     

    On the other hand, if the pair fails to move higher, it could decline further and break the 0.7550 support level in the near term.

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  • AUD/USD Forecast – Aussie Dollar Remains at Risk Vs US Dollar

    AUD/USD Forecast – Aussie Dollar Remains at Risk Vs US Dollar

    • – The Aussie Dollar made a short-term top near the 0.7810 level against the US Dollar.
    • – There is a major bullish trend line forming with support near the 0.7755 on the hourly chart of AUD/USD.
    • – Recently in China, the Gross Domestic Product (GDP) for Q1 2018 was released by the National Bureau of Statistics of China.
    • – The outcome was above the forecast of +6.7% as there was a rise in the GDP by 6.8% (YoY).

    China’s GDP

    Recently in China, the Gross Domestic Product (GDP) for Q1 2018 was released by the National Bureau of Statistics of China. The market was positioned for a rise of 6.7% in GDP in Q1 2018 compared with the same quarter a year ago.

     

    The actual result was above the forecast of +6.7% as there was a rise in the GDP by 6.8%. Looking at the quarterly change, there was a rise of 1.4% in the GDP, which was less than the forecast of 1.5%. Moreover, the Chinese Industrial output posted a rise of 6% in Feb 2018 (YoY), less than the forecast of 6.2%.

     

    The AUD/USD pair is currently moving lower and it seems like it remains at a risk of a downside break below the 0.7750 support.

     

    AUD/USD Technical Analysis

    The Aussie Dollar traded nicely higher this past week and moved above 0.7750 against the US Dollar. The AUD/USD pair even traded above the 0.7800 handle, but it failed to hold gains above the stated level. A short-term top was formed at 0.7809 and the pair started a downside correction.

     

    AUD/USD Technical Analysis Aussie Dollar US Dollar

     

    It declined and traded towards the 0.7750 support, which prevented declines. There is also a major bullish trend line forming with support near the 0.7755 on the hourly chart of AUD/USD.

     

    The pair is currently holding the 0.7750-60 support, but there are a few bearish signs. To initiate an upside move, the pair has to move above the 61.8% Fib retracement level of the last decline from the 0.7809 high to 0.7751 low.

     

    On the flip side, a break and close below the 0.7750 support may perhaps open the doors for a downside push in the near term.

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  • AUD/USD Forecast – Aussie Dollar To Gain Traction Vs US Dollar?

    AUD/USD Forecast – Aussie Dollar To Gain Traction Vs US Dollar?

    • – The Aussie Dollar moved higher and traded above the 0.7700 resistance against the US Dollar.
    • – There was a break above a major bearish trend line with resistance near 0.7695 on the hourly chart of AUD/USD.
    • – Recently in Australia, the Retail Sales report for Feb 2018 was released by the Australian Bureau of Statistics.
    • – The outcome was above the forecast of +0.3% as there was a rise in the sales by 0.6% (MoM).

    Australia’s Retail Sales

    Recently in Australia, the Retail Sales report for Feb 2018 was released by the Australian Bureau of Statistics. The market was positioned for a rise of 0.3% in sales in Feb 2018 compared with the previous month.

     

    The actual result was above the forecast of +0.3% as there was a rise in the sales by 0.6%. This was also better than the last reading of +0.1%. The report added:

     

    Online retail turnover contributed 5.1 per cent to total retail turnover in original terms in February 2018. In February 2017 online retail turnover contributed 3.6 per cent to total retail.

     

    The AUD/USD pair is currently trading in a positive zone and it may continue to rise in the near term towards 0.7730 and 0.7750.

     

    AUD/USD Technical Analysis

    The Aussie Dollar formed a decent support near the 0.7650 level against the US Dollar. The AUD/USD pair started an upside move, traded above the 0.7680 and 0.7700 resistance levels, and settled above the 100 hourly simple moving average.

     

    AUD/USD Technical Analysis Aussie Dollar US Dollar

     

    The pair even broke the 76.4% Fib retracement level of the last decline from the 0.7703 high to 0.7666 low. More importantly, there was a break above a major bearish trend line with resistance near 0.7695 on the hourly chart of AUD/USD.

     

    The pair may soon break the 1.236 Fib extension of the last decline from the 0.7703 high to 0.7666 low. Above the 0.7715 level, the next target for buyers could be around the 0.7730 level, which is the 1.618 Fib extension of the last decline from the 0.7703 high to 0.7666 low.

     

    Overall, the pair remains supported for more gains and any dips towards 0.7700 and 0.7680 are likely to find buyers in the near term.

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  • AUD/USD Forecast – Aussie Dollar Remains in Bearish Trend Vs US Dollar

    AUD/USD Forecast – Aussie Dollar Remains in Bearish Trend Vs US Dollar

    • – The Aussie Dollar declined heavily recently and moved below the 0.7750 support against the US Dollar.
    • – There is a key bearish trend line forming with resistance near 0.7710 on the hourly chart of AUD/USD.
    • – Recently in Australia, the House Price Index for Q4 2017 was released by the Australian Bureau of Statistics.
    • – The outcome was above the forecast of +3.9% as there was a rise in the index by 5% (YoY).

    Australia’s House Price Index

    Recently in Australia, the House Price Index for Q4 2017 was released by the Australian Bureau of Statistics. The market was positioned for a rise of 3.9% in the index in Q4 2017 compared with the same quarter a year ago.

     

    The actual result was above the forecast of +3.9% as there was a rise in the index by 5%. Looking at the quarterly change, the market was looking for no change in the index in Q4 2017, but there was a rise of 1%, which was better than the last -0.2%.

     

    The AUD/USD pair is currently trading in a range above 0.7680, but it remains at a risk of more losses in the near term.

     

    AUD/USD Technical Analysis

    The Aussie Dollar started a major downside move from well above 0.7880 against the US Dollar. The AUD/USD pair tumbled and broke many support levels such as 0.7800, 0.7750 and 0.7720 to settle below the 100 hourly simple moving average.

     

    AUD/USD Technical Analysis Aussie Dollar US Dollar

     

    The pair traded as low as 0.7686 from where it started an upside correction. It tested the 23.6% Fib retracement level of the last decline from the 0.7803 high to 0.7686 low. Moreover, there is a key bearish trend line forming with resistance near 0.7710 on the hourly chart.

     

    The pair must break the trend line and resistance near 0.7710 to start a fresh upside move. The next resistance could be near 0.7750 and the 50% Fib retracement level of the last decline from the 0.7803 high to 0.7686 low.

     

    On the downside, the 0.7700 level is a short term support followed by the last swing low of 0.7686. A break below 0.7685 could trigger further losses in the near term.

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  • AUD/USD Forecast – Aussie Dollar to Rise Further Vs US Dollar?

    AUD/USD Forecast – Aussie Dollar to Rise Further Vs US Dollar?

    • – The Aussie Dollar remained in an uptrend and it moved above 0.7840 against the US Dollar.
    • – There is a short-term connecting bullish trend line forming with support at 0.7865 on the hourly chart of AUD/USD.
    • – Recently in Australia, the Home Loans figure for Jan 2018 was released by the Australian Bureau of Statistics.
    • – The outcome was below the forecast of -0.1% as there was a decline of 1.1% in loans in Jan 2018.

    Australia’s Home Loans

    Recently in Australia, the Home Loans figure for Jan 2018 was released by the Australian Bureau of Statistics. The market was positioned for a decline of 0.1% in Jan 2018 compared with the previous month.

     

    The actual result was below the forecast of -0.1% as there was a decline of 1.1% in loans in Jan 2018. However, the current result was better than the last -2.3%. Moreover, the investment lending for homes came in at -1.1%, compared with the last -2.8%.

     

    The AUD/USD pair was not affected after the result, but the upside move above the 0.7880 was paused and the pair starting trading in a range.

     

    AUD/USD Technical Analysis

    The Aussie Dollar is currently in a decent uptrend from the 0.7750 swing low against the US Dollar. The AUD/USD pair traded higher, broke the 0.7800 and 0.7840 resistance levels, and settled nicely above the 100 hourly simple moving average.

     

    AUD/USD Technical Analysis Aussie Dollar US Dollar

     

    The pair recently traded as high as 0.7883 and is currently correcting lower. On the downside, an initial buy zone is near a short-term connecting bullish trend line forming with support at 0.7865 on the hourly chart of AUD/USD.

     

    Below the trend line, the 23.6% Fib retracement level of the last wave from the 0.7790 low to 0.7883 high is a short term support. However, the most important support is around 0.7835, which was a resistance earlier.

     

    Moreover, the 50% Fib retracement level of the last wave from the 0.7790 low to 0.7883 high is around 0.7835 to act as a support. On the upside, the pair has to break the 0.7885 and 0.7900 resistance levels to gain upside momentum.

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  • AUD/USD Forecast – Aussie Dollar to Gain Upside Momentum Vs US Dollar

    AUD/USD Forecast – Aussie Dollar to Gain Upside Momentum Vs US Dollar

    • – The Aussie Dollar formed a major bottom near the 0.7710 level against the US Dollar.
    • – There was a break above a major bearish trend line with resistance at 0.7750 on the hourly chart of AUD/USD.
    • – Recently in Australia, the RBA Interest Rate Decision March 2018 was announced by the Reserve Bank of Australia.
    • – The outcome was in line with the forecast as there was no change in rate from 1.5% in March 2018 by the RBA.

    RBA Interest Rate Decision

    Recently in Australia, the RBA Interest Rate Decision March 2018 was announced by the Reserve Bank of Australia. The market was positioned for no change in the interest rates in March 2018 from 1.5% by the RBA.

     

    The actual result was in line with the forecast as there was no change in rate from 1.5% in March 2018 by the RBA. Moreover, the Retail Sales for Jan 2018 was released by the Australian Bureau of Statistics. The market was looking for a rise of 0.4% in Sales. However, the actual result was a bit lower, as there was a rise in sales by 0.1% in Jan 2018.

     

    The AUD/USD pair has moved into a positive zone and it may continue to rise further above 0.7800 in the near term.

     

    AUD/USD Technical Analysis

    The Aussie Dollar was in a major downtrend towards the 0.7700 level against the US Dollar. The AUD/USD pair formed a major bottom near the 0.7710 level and later it started an upside move from the 0.7712 low.

     

    AUD/USD Technical Analysis Aussie Dollar US Dollar

     

    The pair traded higher and broke the 50% Fib retracement level of the last decline from the 0.7818 high to 0.7712 low. The upside move was positive as there was a close above the 0.7740 level and the 100 hourly simple moving average.

     

    There was also a break above a major bearish trend line with resistance at 0.7750 on the hourly chart of AUD/USD. The pair is now trading around the 0.7790 level. It must break the 76.4% Fib retracement level of the last decline from the 0.7818 high to 0.7712 low to gain upside momentum.

     

    There can be a minor downside correction, but the overall bias is positive and the pair may soon move past 0.7800.

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