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  • AUD/USD Forecast – Aussie Dollar Poised to Gain Further Vs US Dollar

    AUD/USD Forecast – Aussie Dollar Poised to Gain Further Vs US Dollar

    • – The Aussie Dollar formed a decent support base at 0.7760 and moved higher against the US Dollar.
    • – There was a break above a key bearish trend line with resistance at 0.7810 on the hourly chart of AUD/USD.
    • – Recently in Australia, the National Australia Bank Business Confidence for Jan 2018 was released.
    • – The outcome was above the forecast of 10 as there was a rise in the index to 12 in Jan 2018.

    Australia’s National Australia Bank Business Confidence

    Recently in Australia, the National Australia Bank Business Confidence for Jan 2018 was released. The market was positioned for a minor decline in the index from 11 to 10 in Jan 2018.

     

    The actual result was above the forecast of 10 as there was a rise in the index to 12 in Jan 2018. However, the last reading was revised down from 11 to 10. Moreover, the National Australia Bank Business Conditions index rose from the last reading of 13 to 19. Commenting on the report, the NAB Group Chief Economist, Alan Oster, stated:

     

    The large rise in the NAB Monthly Business Survey business conditions index provides further confirmation of robust business activity in Australia. While the index can bounce around from month-to-month due to changes in seasonal patterns, conditions remain elevated on a trend basis.

     

    The AUD/USD pair is currently gaining upside momentum and it seems like the pair could trade above the 0.7880 level in the near term.

     

    AUD/USD Technical Analysis

    The Aussie Dollar found support near the 0.7760 level after a major decline against the US Dollar. The AUD/USD pair started an upside move and traded above the 0.7800 resistance to gain upside momentum in the near term.

     

    AUD/USD Technical Analysis Aussie Dollar US Dollar

     

    The pair also moved above the 50% Fib retracement level of the last decline from the 0.7909 high to 0.7759 low. Moreover, there was a break above a key bearish trend line with resistance at 0.7810 on the hourly chart of AUD/USD.

     

    The pair is now placed nicely above the 0.7840 level and the 100 hourly simple moving average. Once there is a break above 0.7880 and the 76.4% Fib retracement level of the last decline from the 0.7909 high to 0.7759 low, there could be more gains.

     

    On the downside, the 0.7840 and 0.7830 levels are decent support levels.

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  • AUD/USD Forecast – Aussie Dollar Approaching Crucial Break Vs US Dollar

    AUD/USD Forecast – Aussie Dollar Approaching Crucial Break Vs US Dollar

    • – The Aussie Dollar is in an uptrend and it is currently above the 0.8040 support against the US Dollar.
    • – There is a major contracting triangle forming with resistance at 0.8105 on the hourly chart of AUD/USD.
    • – Recently in Australia, the Consumer Price Index for Q4 2018 was released by the RBA and republished by the Australian Bureau of Statistics.
    • – The outcome was below the forecast of 0.7% as there was change of 0.6% in the CPI (QoQ).

    Australia’s Consumer Price Index

    Recently in Australia, the Consumer Price Index for Q4 2018 was released by the RBA and republished by the Australian Bureau of Statistics. The market was positioned for a change of 0.7% in Q4 2017 compared with the previous quarter.

     

    The actual result was below the forecast of 0.7% as there was a change of 0.6% in the CPI (QoQ). In terms of the yearly change, there was a rise of 1.9%, less than the forecast of 2%, but more than the last increase of 1.8%. The report added that:

     

    The most significant offsetting price falls this quarter are international holiday travel and accommodation (-1.7%), audio visual and computing equipment (-3.5%), and telecommunication equipment and services (-1.4%).

     

    The AUD/USD pair is currently trading in a range above the 0.8040 support and is preparing for the next move in the near term.

     

    AUD/USD Technical Analysis

    The Aussie Dollar made a nice upside move from the 0.7650 swing low against the US Dollar. The AUD/USD pair surged higher and broke many resistance levels such as 0.7800 and 0.7980 to settle above the 0.8000 level.

     

    AUD/USD Technical Analysis Aussie Dollar US Dollar

     

    A high was formed at 0.8135 from where a downside correction was initiated. The recently traded as low as 0.8045 and is currently trading in a range. It has moved above the 23.6% Fib retracement level of the last wave from the 0.8104 high to 0.8045 low.

     

    At the moment, it seems like there is a major contracting triangle forming with resistance at 0.8105 on the hourly chart of AUD/USD. The pair is currently struggling to break the 0.8080 resistance and the 100 hourly simple moving average.

     

    A break above the 0.8080 resistance, followed by a clear break of 0.8105 is needed for more gains. On the downside, a break of the 0.8045 support could ignite a move towards 0.8000.

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  • AUD/USD Forecast – Can Aussie Dollar Hold 0.7940 Support Vs US Dollar?

    AUD/USD Forecast – Can Aussie Dollar Hold 0.7940 Support Vs US Dollar?

    • – The Aussie Dollar made a nice upside move and traded as high as 0.8023 against the US Dollar.
    • – Later, there was a downside move below an ascending channel with support at 0.7970 on the hourly chart of AUD/USD.
    • – Recently in Australia, the Employment Change figure for Dec 2017 was released by the Australian Bureau of Statistics.
    • – The outcome was above the forecast of 9.0K as there was change of 34.7K in Dec 2017.

    Australia’s Employment Change

    Recently in Australia, the Employment Change figure for Dec 2017 was released by the Australian Bureau of Statistics. The market was positioned for a change of 9.0K in Dec 2017 compared with the last 61.6K.

     

    The actual result was above the forecast of 9.0K as there was change of 34.7K in Dec 2017. The last reading was also revised up to 63.6K. On the other hand, the unemployment rate in Dec 2017 was up from 5.4% to 5.5%. The report added that:

     

    Unemployment increased 20,500 to 730,600. The number of unemployed persons looking for full-time work increased 9,900 to 501,800 and the number of unemployed persons only looking for part-time work increased 10,600 to 228,800.

     

    The AUD/USD pair was seen trading a few pips down and it is currently trading near a major support area at 0.7940.

     

    AUD/USD Technical Analysis

    The Aussie Dollar started a decent upside move from the 0.7847 swing low against the US Dollar. The AUD/USD pair climbed higher and broke the 0.7900 and 0.7940 resistance levels. The upside move was strong as there was a break above the 0.8000 level as well.

     

    AUD/USD Technical Analysis Aussie Dollar US Dollar

     

    A high was formed at 0.8023 from where a downside correction was initiated. The pair moved down and broke the 23.6% Fib retracement level of the last wave from the 0.7847 low to 0.8023 high.

     

    During the downside, the pair broke an ascending channel with support at 0.7970 on the hourly chart. At the moment, the pair is trading near a major support at 0.7940 and the 100 hourly simple moving average, which is also the 50% Fib retracement level of the last wave from the 0.7847 low to 0.8023 high.

     

    Therefore, the 0.7940 support holds a lot of importance. The pair must stay above 0.7940 to avoid declines in the near term.

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  • AUD/USD Forecast – Aussie Dollar Placed in Bullish Zone Vs US Dollar

    AUD/USD Forecast – Aussie Dollar Placed in Bullish Zone Vs US Dollar

    • – The Aussie Dollar recently gained upside momentum and moved above 0.7850 against the US Dollar.
    • – There was a break above a major bearish trend line with resistance at 0.7850 on the hourly chart of AUD/USD.
    • – Recently in Australia, the Retail Sales for Nov 2017 was released by the Australian Bureau of Statistics.
    • – The outcome was above the forecast of +0.4% as there was an increase in sales by 1.2% (MoM).

    Australia’s Retail Sales

    Recently in Australia, the Retail Sales for Nov 2017 was released by the Australian Bureau of Statistics. The market was positioned for an increase of 0.4% in sales compared with the previous month.

     

    The actual result was above the forecast of +0.4% as there was an increase in sales by 1.2%. The actual was also above the last increase of 0.5%. The report added that:

     

    There were rises for clothing, footwear and personal accessory retailing (1.6 per cent) and cafes, restaurants and takeaways (0.4 per cent). Department stores fell (-1.1 per cent) whilst food was unchanged in November 2017.

     

    The AUD/USD pair remains nicely placed in the bullish zone above 0.7850 and it looks set for more gains.

     

    AUD/USD Technical Analysis

    The Aussie Dollar formed a short-term bottom at 0.7805-10 against the US Dollar. The AUD/USD pair made a nice upside move, traded above the 0.7850 and 0.7870 resistance levels, and closed above the 100 hourly simple moving average.

     

    AUD/USD Technical Analysis Aussie Dollar US Dollar

     

    During the upside move, there was a break above a major bearish trend line with resistance at 0.7850 on the hourly chart. The pair traded as high as 0.7881 before correcting lower. It traded below the 23.6% Fib retracement level of the last wave from the 0.7809 low to 0.7881 high.

     

    However, the downside move was protected by the broken bearish trend line at 0.7850. Moreover, the 38.2% Fib retracement level of the last wave from the 0.7809 low to 0.7881 high also acted as a support area.

     

    Overall, it seems like the pair remains in the bullish zone above 0.7850 and the 100 hourly SMA. It will most likely resume its uptrend and it could move back above the 0.7880 level to challenge the 0.7900 handle.

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  • AUD/USD Forecast – Aussie Dollar Surging Higher Vs US Dollar

    AUD/USD Forecast – Aussie Dollar Surging Higher Vs US Dollar

    • – The Aussie Dollar is gaining pace and is currently well above the 0.7800 level against the US Dollar.
    • – The AUD/USD is about to settle above a contracting triangle with resistance at 0.7830 on the hourly chart of AUD/USD.
    • – Recently in Australia, the AiG performance of the Mfg Index for Dec 2017 was released by the Australian Industry Group.
    • – The outcome was around the forecast of 56.0 as there was a minor decline in the index from 57.3 to 56.2.

    Australia’s AiG performance of the Mfg Index

    Recently in Australia, the AiG performance of the Mfg Index for Dec 2017 was released by the Australian Industry Group. The market was positioned for a minor decline in the index from 57.3 to 56.0.

     

    The actual result was around the forecast of 56.0 as there was a minor decline in the index from 57.3 to 56.2. The decline was not more than 1.5 points, which can be seen as a neutral outcome for AUD/USD.

     

    The pair might continue to trade higher as it has formed a decent support base above the 0.7800 level.

     

    AUD/USD Technical Analysis

    The Aussie Dollar started a solid upside wave from the 0.7650 swing low against the US Dollar. The AUD/USD pair was able to break the 0.7700 and 0.7800 resistance levels and succeeded in closing above the 100 hourly simple moving average.

     

    AUD/USD Technical Analysis Aussie Dollar US Dollar

     

    The pair is following a bullish path and is about to settle above a contracting triangle with resistance at 0.7830 on the hourly chart. The recent high was 0.7834 and an initial support on the downside is around the 23.6% Fib retracement level of the last wave from the 0.7793 low to 0.7834 high.

     

    Further to the downside, the pair will mostly find bids near the triangle trend line at 0.7810. Moreover, the 50% Fib retracement level of the last wave from the 0.7793 low to 0.7834 high is also around the same trend line.

     

    Therefore, if the pair corrects lower from the current levels, it will most likely find support at 0.7800-0.7810. On the upside, a break above the 0.7840 level is needed for buyers to gain traction.

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  • AUD/USD Forecast – Aussie Dollar is Recovering Nicely Vs US Dollar

    AUD/USD Forecast – Aussie Dollar is Recovering Nicely Vs US Dollar

    • – The Aussie Dollar is moving higher and is currently above 0.7550 against the US Dollar.
    • – There are two bullish trend lines forming with support at 0.7560 and 0.7540 on the hourly chart of AUD/USD.
    • – Recently in Australia, the Westpac Consumer Confidence for Dec 2017 was released by the Faculty of Economics and Commerce Melbourne Institute.
    • – The outcome was above the forecast of +2.0% as there was an increase of 3.6% in the Confidence index in Dec 2017.

    Australia’s Westpac Consumer Confidence

    Recently in Australia, the Westpac Consumer Confidence for Dec 2017 was released by the Faculty of Economics and Commerce Melbourne Institute. The market was positioned for a rise of 2% in the Confidence index in Dec 2017.

     

    The actual result was above the forecast of +2.0% as there was an increase of 3.6% in the Confidence index in Dec 2017, which was far better than the last -1.7%. The report added that:

     

    This is a surprisingly strong result and confirms the lift we have seen in the Index over the last three months. The average reading for the Index in the December quarter is 5% above the average for the September quarter when we saw a disturbing slump in consumer spending.

     

    Overall, the AUD/USD pair is positioned nicely above the 0.7540 support and it might continue to move higher.

     

    AUD/USD Technical Analysis

    The Aussie Dollar formed a decent support base around 0.7500 against the US Dollar. The AUD/USD pair started an upside move, broke the 0.7510 resistance, cleared a bearish trend line on the hourly chart at 0.7530 and managed to settle above the 100 hourly simple moving average.

     

    AUD/USD Technical Analysis Aussie Dollar US Dollar

     

    During the upside, the pair moved above the 38.2% Fib retracement level of the last decline from the 0.7653 high to 0.7501 low. It seems like the current price action is positive above 0.7550 and the pair might trade further higher.

     

    At the moment, the pair is struggling to break the 50% Fib retracement level of the last decline from the 0.7653 high to 0.7501 low. Once the pair breaks the 0.7580 resistance, it could easily move above the 0.7600 level in the near term.

     

    On the downside, there are two bullish trend lines forming with support at 0.7560 and 0.7540 on the hourly chart. Therefore, if the pair corrects lower, it could find support near 0.7540-60.

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  • AUD/USD Forecast – Aussie Dollar to Bounce Back Above 0.7620 Vs US Dollar

    AUD/USD Forecast – Aussie Dollar to Bounce Back Above 0.7620 Vs US Dollar

    • – The Aussie Dollar is trading nicely above the 0.7580 support against the US Dollar.
    • – There is a key bullish trend line forming with support near 0.7585 on the hourly chart of AUD/USD.
    • – Recently in Australia, the TD Securities Inflation report for Nov 2017 was released by The University of Melbourne – Faculty of Economics and Commerce.
    • – The outcome was above the forecast of +0.1% as there was an increase of 0.2% in the inflation in Nov 2017.

    Australia’s TD Securities Inflation

    Recently in Australia, the TD Securities Inflation report for Nov 2017 was released by The University of Melbourne – Faculty of Economics and Commerce. The market was positioned for a rise of 0.1% in the TD Securities Inflation compared with the previous month.

     

    The actual result was above the forecast of +0.1% as there was an increase of 0.2% in the inflation in Nov 2017, but it was less than the last +0.3%. In terms of the yearly change, the TD Securities Inflation posted a rise of 2.7%, which was more than the last +2.6%. The report added that:

     

    Overall, the AUD/USD pair remains supported on the downside as long as it is above the 0.7580 support area.

     

    AUD/USD Technical Analysis

    The Aussie Dollar started a nice upside move after consolidating around the 0.7550 support for some time against the US Dollar. The AUD/USD pair broke a few important resistance levels such as 0.7580 and 0.7600 to settle above the 100 hourly simple moving average.

     

    AUD/USD Technical Analysis Aussie Dollar US Dollar

     

    During the upside, the pair broke two bearish trend lines at 0.7565 on the hourly chart. It traded as high as 0.7638 from where it started a downside correction. It moved below the 50% Fib retracement level of the last wave from the 0.7550 low to 0.7638 high.

     

    However, the downside move was protected by the 0.7580 support, the 100 hourly simple moving average and the 61.8% Fib retracement level of the last wave from the 0.7550 low to 0.7638 high. There is also a key bullish trend line forming with support near 0.7585 on the hourly chart.

     

    Therefore, AUD/USD remains supported above 0.7580 and it might soon bounce back above 0.7600-0.7620 in the near term.

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  • AUD/USD Forecast – Can Aussie Dollar Move Above 0.7600 Vs US Dollar

    AUD/USD Forecast – Can Aussie Dollar Move Above 0.7600 Vs US Dollar

    • – The Aussie Dollar is currently facing a major resistance near 0.7580-0.7600 against the US Dollar.
    • – There is an important bearish trend line forming with resistance at 0.7585 on the hourly chart of AUD/USD.
    • – Recently in Australia, the Construction Work Done in Q3 2017 was released by the Australian Bureau of Statistics.
    • – The outcome was above the forecast of -2.1% as there was an increase of 15.7% in Q3 2017.

    Australia’s Construction Work Done

    Recently in Australia, the Construction Work Done in Q3 2017 was released by the Australian Bureau of Statistics. The market was positioned for a decline of 2.1% in the Construction Work Done in Q3 2017.

     

    The actual result was above the forecast of -2.1% as there was an increase of 15.7% in Q3 2017. The last reading was also revised up from +9.3% to +9.8%. The report added that:

     

    The trend estimate for total construction work done rose 0.6% in the September quarter 2017. The seasonally adjusted estimate for total construction work done rose 15.7% to $61,863.2m in the September quarter.

     

    Overall, the AUD/USD pair is trading with a positive bias, but it has to break 0.7600 to move in the bullish zone.

     

    AUD/USD Technical Analysis

    The Aussie Dollar traded lower recently and tested the 0.7535-0.7540 support area against the US Dollar. Later, the AUD/USD pair started a consolidation and finally made an upside move towards the 0.7600 resistance and the 100 hourly simple moving average.

     

    AUD/USD Technical Analysis Aussie Dollar US Dollar

     

    The pair failed to move above the 0.7585-0.7600 resistance area and is current back below the 100 hourly SMA. It is currently trading below the 23.6% Fib retracement level of the last wave from the 0.7531 low to 0.7588 high.

     

    An initial support on the downside is around 0.7560 and the 50% Fib retracement level of the last wave from the 0.7531 low to 0.7588 high. As long as the pair is above the 0.7550-40 support, it might make another attempt to break the 0.7600 resistance.

     

    Buyers need to push the pair above 0.7585 and 0.7600 in order to place AUD/USD in the bullish zone. The next stop could be near the 0.7640 level.

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

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

    • – The Aussie Dollar traded lower recently and moved below the 0.7650 support against the US Dollar.
    • – There is a major bearish trend line forming with resistance at 0.7640 on the hourly chart of AUD/USD.
    • – Recently in Australia, the National Australia Bank Business Confidence for Oct 2017 was released.
    • – The outcome was above the forecast of 7 as the National Australia Bank Business Confidence came in at 8.

    Australia’s National Australia Bank Business Confidence

    Recently in Australia, the National Australia Bank Business Confidence for Oct 2017 was released. The market was positioned for no change in the index from the last reading of 7.

     

    The actual result was above the forecast of 7 as the National Australia Bank Business Confidence came in at 8. The last reading was also revised up from 7 to 8. Looking at the National Australia Bank Business Conditions index, there was a sharp rise from the last reading of 14 to 21.

     

    Overall, the AUD/USD pair attempt an upside break above the 0.7640 level if it manages to stay above the 0.7610-0.7600 support.

     

    AUD/USD Technical Analysis

    The Aussie Dollar started a new downside wave from the 0.7694 swing high against the US Dollar. The AUD/USD pair moved below the 0.7660 and 0.7650 support levels and is currently trading well below the 100 hourly simple moving average.

     

    AUD/USD Technical Analysis Aussie Dollar US Dollar

     

    The pair traded as low as 0.7608 from where a correction was initiated. It is currently trading near the 23.6% Fib retracement level of the last drop from the 0.7694 high to 0.7608 low, and attempting an upside break above a major bearish trend line with resistance at 0.7640 on the hourly chart.

     

    A close above the trend line resistance and the 0.7650 level could trigger more gains. The 0.7650 level is also around the 50% Fib retracement level of the last drop from the 0.7694 high to 0.7608 low. Above 0.7650, the 100 hourly SMA is near 0.7660 to act as a hurdle.

     

    Overall, there is a chance of AUD/USD breaking the 0.7640 level, but it is facing many resistances on the upside.

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  • AUD/USD Forecast – Aussie Dollar Downtrend Intact Vs US Dollar

    AUD/USD Forecast – Aussie Dollar Downtrend Intact Vs US Dollar

    • – The Aussie Dollar declined recently and traded below the 0.7680 support against the US Dollar.
    • – There is a major bearish trend line forming with resistance at 0.7660 on the hourly chart of AUD/USD.
    • – Recently in Australia, the TD Securities Inflation for Oct 2017 was released by The University of Melbourne – Faculty of Economics and Commerce.
    • – The outcome was around the forecast as there was a rise of 0.3% in the TD Securities Inflation (MoM).

    Australia’s TD Securities Inflation

    Recently in Australia, the TD Securities Inflation for Oct 2017 was released by The University of Melbourne – Faculty of Economics and Commerce. The market was positioned for an increase of around 0.3% in the TD Securities Inflation compared with the previous month.

     

    The actual result was around the forecast as there was a rise of 0.3% in the TD Securities Inflation. Looking at the yearly change, there was an increase of 2.6%, which was better than the last increase of 2.5%. It was also better than the forecast of 2.5%.

     

     

    Overall, the AUD/USD pair might correct a few pips in the near term, but faces strong resistances near 0.7660 and 0.7680.

     

    AUD/USD Technical Analysis

    The Aussie Dollar after trading as high as 0.7729 against the US Dollar faced a lot of offers. The AUD/USD pair started a new downside wave and broke many supports such as 0.7700 and 0.7680 to settle below the 100 hourly simple moving average.

     

    AUD/USD Technical Analysis Aussie Dollar US Dollar

     

    There was also a break below a bullish trend line at 0.7695 on the hourly chart. The pair traded as low as 0.7637 and is currently correcting higher. An initial resistance is near the 23.6% Fib retracement level of the last decline from the 0.7729 high to 0.7637 low.

     

    On the upside, there is a major bearish trend line forming with resistance at 0.7660 on the hourly chart. Above the trend line resistance, the 100 hourly SMA and the 50% Fib retracement level of the last decline from the 0.7729 high to 0.7637 low are major hurdles near 0.7680.

     

    There is a chance of a correction in AUD/USD towards 0.7680-0.7700, but upsides remain capped in the short term.

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