LMFX PAMM


Forex broker List

  • GBP/USD Forecast – British Pound Remains Sell on Rallies Vs US Dollar

    GBP/USD Forecast – British Pound Remains Sell on Rallies Vs US Dollar

    • – The British Pound declined sharply recently and moved below the 1.3150 support against the US Dollar.
    • – The GBP/USD pair recently broke a short-term bearish trend line with resistance at 1.3055 on the hourly chart.
    • – Today in China, the Caixin Services PMI for Sep 2017 was released.
    • – The outcome was below the forecast of 51.5, as there was a decline in the PMI from 52.7 to 50.6.

     

    China’s Caixin Services PMI

    Recently in China, the Caixin Services PMI for Sep 2017 was released. The market was positioned for a decline in the PMI from the last reading of 52.7 to 51.5.

     

    However, the actual result was below the forecast of 51.5, as there was a decline in the PMI from 52.7 to 50.6. Looking at the Composite Output Index, there was a sharp decline from 52.4 to 51.4 in September 2017, which is a new a three-month low. The report added that:

     

    The slowdown was driven by weaker increases in output at both manufacturing and services companies. A drop in the seasonally adjusted Caixin China General Services Business Activity Index from 52.7 to 50.6 in September pointed to only a marginal increase in services activity that was the slowest for 21 months.

     

    Overall, the market sentiment is favoring the US Dollar and that’s why the GBP/USD pair recoveries are likely to be capped by the 1.3150-1.3200 resistance levels.

     

    GBP/USD Technical Analysis

    The British Pound remained under a lot of bearish pressure and recently moved below the 1.3200 handle against the US Dollar. The GBP/USD pair even broke the 1.3150 support, settled below the 100 hourly simple moving average and traded as low as 1.3026.

     

    GBP/USD Technical Analysis British Pound US Dollar

     

    The pair is currently correcting higher and just moved above the 23.6% Fib retracement level of the last decline from the 1.3291 high to 1.3026 low. Moreover, there was a break above a short-term bearish trend line with resistance at 1.3055 on the hourly chart.

     

    It seems like the pair could continue to correct higher and may test another bearish trend line on the same chart with resistance at 1.3105. However, the most important resistance sits near the 50% Fib retracement level of the last decline from the 1.3291 high to 1.3026 low at 1.3150.

     

    Any major upsides could face sellers on the topside near 1.3150 and 1.3180. Selling rallies remain a good deal as long as there is no daily close above 1.3200.

    Tags: , , , ,

    Like what you've read?

    Join thousands of other traders who receive our newsletter containing; market updates, tutorials, learning articles, strategies and more.

    Previous Entry   Next Entry

  • GBP/JPY Forecast – British Pound To Extend Its Decline Vs Japanese Yen

    GBP/JPY Forecast – British Pound To Extend Its Decline Vs Japanese Yen

    • – The British Pound is under bearish pressure and recently broke the 150.40 support against the Japanese Yen.
    • – There is a crucial bearish trend line forming with resistance at 150.30 on the hourly chart of GBP/JPY.
    • – Today in the UK, the PMI Construction for Sep 2017 was released by the Chartered Institute of Purchasing & Supply and Markit Economics.
    • – The outcome was below the forecast of 50.8 as there was a decline from 51.1 to 48.1.

     

    UK’s Construction PMI

    Today in the UK, the PMI Construction for Sep 2017 was released by the Chartered Institute of Purchasing & Supply and Markit Economics. The market was positioned for a minor decline from the last reading of 51.1 to 50.8.

     

    However, the actual result was below the forecast of 50.8, as there was a decline from 51.1 to 48.1. The PMI registered a contraction in Sep 2017 the business activity fell for the first time in 13 months. The report added that:

     

    September data revealed a difficult month for the UK construction sector, as a sustained drop in new work led to the first reduction in overall business activity since August 2016. Survey respondents attributed the drop in workloads to fragile confidence and subdued risk appetite among clients, especially in the commercial building sector.

     

    Overall, the GBP/JPY pair may continue to decline and it could even break the recent low of 149.27 in the near term.

     

    GBP/JPY Technical Analysis

    The British Pound faced a lot of selling pressure recently and started a downside move from the 151.60 swing high against the Japanese Yen. The GBP/JPY pair declined and broke a few important support levels like 151.20, 151.00 and 150.40.

     

    GBP/JPY Technical Analysis British Pound Japanese Yen

     

    The pair even traded below the 150.00 handle and the 100 hourly simple moving average. A low was formed at 149.27 from where a recovery was initiated. The pair moved above the 38.2% Fib retracement level of the last decline from the 150.95 high to 129.27 low.

     

    However, there is a crucial bearish trend line forming with resistance at 150.30 on the hourly chart.  The pair is currently struggling to break the 50% Fib retracement level of the last decline from the 150.95 high to 129.27 low.

     

    Therefore, there are high chances that the GBP/JPY pair would break the trend line support at 149.80 support and decline back towards the 149.30 zone.

    Tags: , , ,

    Like what you've read?

    Join thousands of other traders who receive our newsletter containing; market updates, tutorials, learning articles, strategies and more.

    Previous Entry   Next Entry

  • EUR/GBP Forecast – Euro Eyes Further Losses Vs British Pound

    EUR/GBP Forecast – Euro Eyes Further Losses Vs British Pound

    • – The Euro is under heavy selling pressure and already broke the 0.8800 support against the British Pound.
    • – There are two bearish trend lines forming with resistance at 0.8800 and 0.8820 on the hourly chart of the EUR/GBP pair.
    • – Today in the Euro Zone, the Italian Consumer Confidence for Sep 2017 was released by the Istat.
    • – The outcome was above the forecast of 110.8, as there was a rise in the index from 111.2 (revised) to 115.5.

     

    Italian Consumer Confidence

    Today in the Euro Zone, the Italian Consumer Confidence for Sep 2017 was released by the Istat. The market was positioned for a minor decline in the Confidence to 110.8.

     

    The actual result was above the forecast of 110.8, as there was a rise in the index from 111.2 (revised) to 115.5. All components registered an increase such as economic index was up from 129.3 to 143.9 and the personal index was up from 105.6 to 106.5. The report added that:

     

    The balance concerning expectations on unemployment fell from 30.5 to 11.7. The balance on inflation perceptions referring to the last 12 months decreased from -11.1 to -14.2 while the balance on inflation expectations for next 12 months grew from -9.5 to -3.8.

     

    Overall, the EUR/GBP pair might continue to slide and could even break the 0.8754 low in the near term.

     

    EUR/GBP Technical Analysis

    The Euro started a downside move from the 0.8890 swing high against the British Pound. The EUR/GBP pair broke the 0.8800 support zone and settled below the 100 hourly simple moving average.

     

    EUR/GBP Technical Analysis Euro British Pound

     

    The pair traded as low as 0.8754 from where a recovery was started. It moved above the 23.6% Fib retracement level of the last decline from the 0.8884 high to 0.8741 high. However, the upside move was protected by the 0.8800 handle and the 100 hourly simple moving average.

     

    Moreover, there are two bearish trend lines with resistance at 0.8800 and 0.8820 on the hourly chart to act as a hurdle for more gains. An intermediate resistance is around the 50% Fib retracement level of the last decline from the 0.8884 high to 0.8741 high.

     

    Overall, the EUR/GBP pair might be considered as sell on rallies towards 0.8800-0.8820 as long as it is below 0.8840.

    Tags: , , ,

    Like what you've read?

    Join thousands of other traders who receive our newsletter containing; market updates, tutorials, learning articles, strategies and more.

    Previous Entry   Next Entry

  • GBP/USD Forecast – British Pound Downsides Remain Supported Vs US Dollar

    GBP/USD Forecast – British Pound Downsides Remain Supported Vs US Dollar

    • – The British Pound surged higher this week and traded as high as 1.3328 against the US Dollar.
    • – The GBP/USD pair recently broke an ascending channel with support at 1.3310 on the hourly chart.
    • – Today in the UK, the Claimant Count Change for August 2017 was released by the National Statistics.
    • – The outcome was above the forecast of 0.6K, as the change was -2.8K.

     

    UK’s Claimant Count Change

    Recently in the UK, the Claimant Count Change for August 2017 was released by the National Statistics. The market was positioned for a change of 0.6K in the Claimant Count.

     

    However, the actual result was above the forecast 0.6K, as the change was -2.8K. The ILO Unemployment Rate also posted a decline in July 2017 (3M) from 4.4% to 4.3%. The report added that:

     

    There were 1.46 million unemployed people (people not in work but seeking and available to work), 75,000 fewer than for February to April 2017 and 175,000 fewer than for a year earlier.

     

    Overall, the GBP/USD pair might correct a few pips towards 1.3250-40 in the near term, but remains supported on the downside.

     

    GBP/USD Technical Analysis

    The British Pound is in a major uptrend as it traded above the 1.3250 level this week against the US Dollar. The GBP/USD pair even broke the 1.3300 handle today and traded as high as 1.3328 before facing tiny sell offers.

     

    GBP/USD Technical Analysis British Pound US Dollar

     

    The pair is currently correcting lower and already moved below the 23.6% Fib retracement level of the last wave from the 1.3160 low to 1.3328 high. Moreover, the pair broke an ascending channel with support at 1.3310 on the hourly chart.

     

    It seems like the pair could correct further towards 1.3250, which is near the 50% Fib retracement level of the last wave from the 1.3160 low to 1.3328 high. Furthermore, there is a bullish trend line on the same chart at 1.3255.

     

    Therefore, an extension of the current correction is likely to find support near 1.3250. Only a close below the 1.3240 level would call for a test of the 1.3200 support. On the upside, the pair faces an immediate resistance at 1.3310, followed by the last high at 1.3328.

    Tags: , , , , ,

    Like what you've read?

    Join thousands of other traders who receive our newsletter containing; market updates, tutorials, learning articles, strategies and more.

    Previous Entry   Next Entry

  • EUR/GBP Forecast – Euro Eyes Major Correction Vs British Pound

    EUR/GBP Forecast – Euro Eyes Major Correction Vs British Pound

    • – The Euro after a nasty ride towards 0.9300-0.9310 made a top against the British Pound.
    • – The EUR/GBP pair broke a major connecting bullish trend line with support at 0.9095 on the hourly chart.
    • – Today in the Euro Zone, the French Nonfarm Payrolls for Q2 2017 report was released by INSEE.
    • – The outcome was below the forecast of +0.5%, as there was a rise in payrolls by 0.4% (QoQ).

     

    French Nonfarm Payrolls

    Today in the Euro Zone, the French Nonfarm Payrolls for Q2 2017 report was released by INSEE. The market was positioned for an increase in the Nonfarm Payrolls by 0.5% compared with the previous quarter.

     

    The actual result was below the forecast of +0.5%, as there was a rise in payrolls by 0.4%. Looking at the net payroll job creation, there was an increase of 0.3% to 81,400, which makes it the eleventh consecutive quarter of growth. The report added that:

     

    The payroll employment increased by 76,800 in the private sector and by 4,600 in the public sector. Year on year, it rose by 303,500 net jobs (that is +1.2%): 276,300 jobs were created in the private sector and 27,200 jobs in the public service.

     

    Overall, the EUR/GBP pair might continue to decline and could even break the 0.9060 support to test the 0.9040 level.

     

    EUR/GBP Technical Analysis

    The Euro was in a super uptrend and traded above the 0.9280 resistance against the British Pound. The EUR/GBP pair traded well above the 0.9300 handle before it faced strong offers and started a downside move.

     

    EUR/GBP Technical Analysis Euro British Pound

     

    There downside move was strong, as the pair broke many supports like 0.9250, 9200, 9180 and the 100 hourly simple moving average. The pair recently cleared a crucial pivot zone at 0.9130 and the 0.9110 swing low.

     

    It seems like the pair might soon test the 1.618 Fib extension of the last wave from the 0.9117 low to 0.9202 high at 0.9064 low. If sellers remain in control, there can be even be a test of the 0.9040 support area.

     

    Overall, the EUR/GBP pair has started a major downside correction and could even test the 0.9000 handle in the near term.

    Tags: , , ,

    Like what you've read?

    Join thousands of other traders who receive our newsletter containing; market updates, tutorials, learning articles, strategies and more.

    Previous Entry   Next Entry

  • EUR/GBP Forecast – Euro Eyes Upside Break above 0.9220 Vs British Pound

    EUR/GBP Forecast – Euro Eyes Upside Break above 0.9220 Vs British Pound

    • – The Euro after trading as low as 0.9149 against the British Pound started an upside move.
    • – The EUR/GBP pair is currently attempting an upside break above a major bearish trend line at 0.9215 on the hourly chart.
    • – Today in the UK, the British Retail Consortium (BRC) Like-For-Like Retail Sales for August 2017 was released.
    • – The outcome was above the forecast, as there was a rise in sales by 1.3% (YoY).

     

    BRC Like-For-Like Retail Sales

    Today in the UK, the British Retail Consortium (BRC) Like-For-Like Retail Sales for August 2017 was released. The market was positioned for an increase in sales by around 1% compared with the same month a year ago.

     

    The actual result was above the forecast, as there was a rise in sales by 1.3%, which was even higher by the last reading of 0.9%. The Total Retail Sales were up by 2.4% in August 2017 compared with the same month a year ago. Commenting on the sales figures, the Chief Executive, BRC, Helen Dickinson OBE, stated:

    August provided a welcome pick-up in retail sales across channels, with Non-Food returning to growth as shoppers’ attentions turned to homewares, autumn clothing ranges and the new school term.

     

    Overall, the EUR/GBP pair remains in the bullish zone and looking to gain momentum for a rise above 0.9220 in the near term.

     

    EUR/GBP Technical Analysis

    The Euro after trading a few pips above the 0.9300 handle against the British Pound started a correction. The EUR/GBP pair traded as low as 0.9149 and then started moving higher. It has already traded above the 0.9180 resistance and the 100 hourly simple moving average.

     

    EUR/GBP Technical Analysis Euro British Pound

     

    There was even a break above the 23.6% Fib retracement level of the last decline from the 0.9306 high to 0.9149 low. On the upside, there is a major bearish trend line at 0.9215 on the hourly chart, which is acting as a barrier for buyers.

     

    The pair needs a close above the trend line resistance at 0.9215 and the 50% Fib retracement level of the last decline from the 0.9306 high to 0.9149 low at 0.9227 to gain traction.

     

    Therefore, a proper close above 0.9220-0.9230 would open the doors for further gains may be towards 0.9300 in the near term.

    Tags: , , ,

    Like what you've read?

    Join thousands of other traders who receive our newsletter containing; market updates, tutorials, learning articles, strategies and more.

    Previous Entry   Next Entry

  • GBP/USD Forecast – British Pound Bearish Within Range Vs US Dollar

    GBP/USD Forecast – British Pound Bearish Within Range Vs US Dollar

    • – The British Pound traded in a range below the 1.2915 resistance against the US Dollar.
    • – There is a crucial expanding triangle pattern with resistance near 1.2915 forming on the hourly chart of GBP/USD.
    • – Today in the UK, the Net Borrowing report for July 2017 was released by the National Statistics.
    • – The outcome was above the forecast of £-0.200B, as the Net Borrowing came in at £-0.760B.

     

    UK’s Net Borrowing

    Recently in the UK, the Net Borrowing report for July 2017 was released by the National Statistics. The market was positioned for the Net Borrowing to post £-0.200B, compared with the last £-6.218B.

     

    However, the actual result was above the forecast of £-0.200B, as the Net Borrowing came in at £-0.760B. On the other hand, the last reading was revised from £-6.218B to £5.673B. When we exclude public sector banks, the Public sector net borrowing declined by £27.0 billion to £45.1 billion. The report added that:

    Public sector net debt (excluding public sector banks) was £1,758.3 billion at the end of July 2017, equivalent to 87.5% of gross domestic product (GDP), an increase of £143.9 billion (or 4.5 percentage points as a ratio of GDP) on July 2016.

     

    Overall, the GBP/USD pair might recover a few pips in the near term, but the 1.2900-1.2915 levels are likely to prevent gains.

     

    GBP/USD Technical Analysis

    The British Pound mostly trading in an expanded range with a monster resistance near 1.2915 against the US Dollar. Recently, the GBP/USD pair traded close to the 1.2915 level where it faced sellers and moved down below the 100 hourly simple moving average.

     

    GBP/USD Technical Analysis British Pound US Dollar

     

    The pair traded below the 1.2880 support and formed a low at 1.2841. There is a chance of a minor correction towards the 38.2% Fib retracement level of the last decline from the 1.2916 high to 1.2841 low.

     

    However, there is a connecting bearish trend line at 1.2900, which is likely to act as a major hurdle. Moreover, the 50% Fib retracement level of the last decline from the 1.2916 high to 1.2841 low along with the 100 hourly simple moving average at 1.2878 is also a major resistance.

     

    Overall, selling rallies in the near term towards the 1.2900-10 levels with a stop above a crucial expanding triangle pattern with resistance near 1.2915 on the hourly chart.

    Tags: , , ,

    Like what you've read?

    Join thousands of other traders who receive our newsletter containing; market updates, tutorials, learning articles, strategies and more.

    Previous Entry   Next Entry

  • GBP/USD Forecast – British Pound In Monstrous Uptrend Vs US Dollar

    GBP/USD Forecast – British Pound In Monstrous Uptrend Vs US Dollar

    • – The British Pound declined recently and moved below a key support of 1.2950 against the US Dollar.
    • – There are two bearish trend lines forming with resistance at 1.2950 and 1.2980 on the hourly chart of GBP/USD.
    • – Today in the UK, the Consumer Price Index for July 2017 was released by the National Statistics.
    • – The outcome was below the forecast of +2.7%, as there was an increase of 2.6% (YoY).

     

    UK’s CPI

    Recently in the UK, the Consumer Price Index for July 2017 was released by the National Statistics. The market was positioned for an increase of 2.7% in the CPI compared with the same month a year ago.

     

    However, the actual result was below the forecast of +2.7%, as there was an increase of 2.6%. In terms of the monthly change, there was a decline of 0.1%, whereas the forecast was 0%. On the other hand, the Producer Price Index posted an increase of 3.2% in July 2017 compared with the same month a year ago, which was more than the forecast of +3.1%. The report added that:

    Factory gate prices (output prices) rose 3.2% on the year to July 2017, from 3.3% in June 2017, which is a 0.5 percentage points decline from their recent peak of 3.7% in February and March 2017.

     

    Overall, the result was negative and could add further bearish pressure on GBP/USD, resulting in declines towards 1.2900.

     

    GBP/USD Technical Analysis

    The British Pound consolidated for a long time above the 1.2970 against the US Dollar. Later, the GBP/USD pair failed to hold the 1.2970-50 support area and declined sharply below the 1.2950 level.

     

    GBP/USD Technical Analysis British Pound US Dollar

     

    The pair recently traded as low as 1.2910 and currently attempting a recovery. On the upside, there are two bearish trend lines forming with resistance at 1.2950 and 1.2980 on the hourly chart of GBP/USD.

     

    An initial resistance is around the 23.6% Fib retracement level of the last decline from the 1.3030 high to 1.2910 low. However, the broken support near 1.2950 is a major resistance since it is also the 38.2% Fib retracement level of the last decline from the 1.3030 high to 1.2910 low.

     

    Overall, selling rallies in the near term towards the 1.2950-70 level for a test of the 1.2900 handle.

    Tags: , , ,

    Like what you've read?

    Join thousands of other traders who receive our newsletter containing; market updates, tutorials, learning articles, strategies and more.

    Previous Entry   Next Entry

  • GBP/USD Forecast – British Pound In Monstrous Uptrend Vs US Dollar

    GBP/USD Forecast – British Pound In Monstrous Uptrend Vs US Dollar

    • – The British Pound surged higher and moved above the 1.3200 handle against the US Dollar.
    • – There is a monster bullish trend line with support at 1.3150 forming on the hourly chart of GBP/USD.
    • – Today in the UK, the Manufacturing Purchasing Managers Index (PMI) for July 2017 was released by both the Chartered Institute of Purchasing & Supply and the Markit Economics.
    • – The outcome was positive, as there was an increase of from the last revised reading of 54.2 to 55.1.

     

    UK’s Manufacturing PMI

    Recently in the UK, the Manufacturing Purchasing Managers Index (PMI) for July 2017 was released by both the Chartered Institute of Purchasing & Supply and the Markit Economics. The market was positioned for a no change in the PMI from the last reading of 54.3.

     

    However, the actual result was positive, as there was an increase to 55.1. The last reading was revised down from 54.3 to 54.2. There was a strong performance, which boosted the new orders in July 2017. The report added that:

    The rate of expansion in new orders accelerated during July. However, the improvement in the pace of increase was still among the slowest registered over the past year. This was despite a significant boost from the trend in new export business, as foreign demand rose at the second-strongest rate in the series history, beaten only by that recorded in April 2010.

     

    Overall, the result was positive, which may continue to help the GBP/USD pair for more gains towards 1.3250 in the near term.

     

    GBP/USD Technical Analysis

    The British Pound remains in a solid uptrend and moved above the 1.3150 and 1.3200 resistance levels against the US Dollar. The GBP/USD pair traded to a new monthly high of 1.3239 recently where sellers protected more gains.

     

    GBP/USD Technical Analysis British Pound US Dollar

     

    At the moment, the pair is following an ascending channel pattern with support at 1.3210 on the hourly chart. The channel support is also near the 23.6% Fib retracement level of the last wave from the 1.3096 low to 1.3239 high.

     

    Moreover, on the downside, there is a monster bullish trend line with support at 1.3150 forming on the hourly chart of GBP/USD. The 50% Fib retracement level of the last wave from the 1.3096 low to 1.3239 high is also around 1.3165.

     

    So, if the pair corrects lower, the channel support at 1.3210 and then the 1.3180-65 area may act as a strong support levels.

    Tags: , ,

    Like what you've read?

    Join thousands of other traders who receive our newsletter containing; market updates, tutorials, learning articles, strategies and more.

    Previous Entry   Next Entry

  • GBP/JPY Forecast – British Pound To Regain Traction Vs Japanese Yen

    GBP/JPY Forecast – British Pound To Regain Traction Vs Japanese Yen

    • – The British Pound is following a bullish pattern and remains supported at 145.40 against the Japanese Yen.
    • – There is a contracting triangle pattern forming with resistance at 146.40-50 on the hourly chart of GBP/JPY.
    • – Today in Japan, the Foreign investment in Japan stocks (July 28) figure was released by Ministry of Finance.
    • – The outcome was below the last reading of ¥377.0B (revised) and posted ¥292.4B.

     

    Foreign Investment in Japan Stocks

    Today in Japan, the Foreign investment in Japan stocks (July 28) figure was released by Ministry of Finance. The market was positioned for a minor rise from the last reading of ¥341.0B.

     

    However, the actual result was neutral, as the Foreign investment in Japan stocks (July 28) came in at ¥292.4B, down from the last reading. The last reading was revised up from ¥341.0B to ¥377.0B. When we look at the foreign bond investment, there was an increase from the last revised reading of ¥946.7B to ¥1,178.6B.

     

    Overall, the GBP/JPY pair may continue to move higher and might test the 146.20 and 146.40 levels in the near term.

     

    GBP/JPY Technical Analysis

    The British Pound remains in a nice uptrend and recently traded towards 146.50 against the Japanese Yen where it faced sellers. There was a downside correction initiated in GBP/JPY from the 146.41 high and the pair moved towards 145.50.

     

    GBP/JPY Technical Analysis British Pound Japanese Yen

     

    The pair traded below the 23.6% Fib retracement level of the last wave from the 144.46 low to 146.41 high. However, the downside move was protected by a major support area near 145.50-40. It also represents the 50% Fib retracement level of the last wave from the 144.46 low to 146.41 high.

     

    Moreover, there is a contracting triangle pattern forming with resistance at 146.40-50 on the hourly chart of GBP/JPY. There are chances that the pair may resume the trend and could soon break the 146.00 initial resistance.

     

    On the upside, the most important resistance is near 146.40. A successful close above 146.50 would lift the market sentiment in the near term. On the downside, the most important support and buy zone remains near 145.60-50.

    Tags: , ,

    Like what you've read?

    Join thousands of other traders who receive our newsletter containing; market updates, tutorials, learning articles, strategies and more.

    Previous Entry   Next Entry

Join Our Newsletter:


Make the trade

US Traders Welcome