LMFX PAMM


Forex broker List

  • GBP/USD Forecast – Can British Pound Retain Upside Momentum Vs US Dollar?

    GBP/USD Forecast – Can British Pound Retain Upside Momentum Vs US Dollar?

    • – The British Pound started a downside correction after trading as high as 1.4146 against the US Dollar.
    • – There was a break below an ascending channel with support at 1.4085 on the hourly chart of the GBP/USD pair.
    • – Recently in the UK, the Rightmove House Price Index for Feb 2018 was released.
    • – The outcome was above the forecast of 0.7%% as the index rose 0.8% (MoM) in Feb 2018.

     

    UK Rightmove House Price

    Recently in the UK, the Rightmove House Price Index for Feb 2018 was released. The market was positioned for a rise of 0.7% in the index in Feb 2018 compared with the previous month.

     

    The actual result was above the forecast of 0.7%% as the index rose 0.8% (MoM) in Feb 2018, which was similar to the last reading. In terms of the yearly change, there was a rise of 1.5% in the index in Feb 2018, more than the last 1.1%. The report added:

     

    Average price of property coming to market is up 0.7% (+£2,067) this month on Rightmove, tracking over 90% of the UK property market, similar to the 0.6% rise at this time a year ago with virtually identical number of properties coming to market.

     

    The GBP/USD pair is currently holding the 1.4000 support, but it remains at a risk of a downside push in the near term.

     

    GBP/USD Technical Analysis

    The British Pound made a nice upside move this past week and traded above 1.4100 against the US Dollar. The GBP/USD pair traded as high as 1.4146 before it started a downside correction and traded below 1.4100.

     

    GBP/USD Technical Analysis British Pound US Dollar

     

    The pair declined and broke the 23.6% Fib retracement level of the last wave from the 1.3799 low to 1.4146 high. Moreover, there was a break below an ascending channel with support at 1.4085 on the hourly chart.

     

    However, the downside move was protected by the 1.4000 support. The pair is currently trading above the 1.4000 support and the 100 hourly simple moving average. Below 1.4000, the 50% Fib retracement level of the last wave from the 1.3799 low to 1.4146 high at 1.3973 is a nice support.

     

    Overall, the price action is positive as long as the pair is above 1.3970-1.4000. A break below 1.3970 could ignite more losses 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/JPY Forecast – British Pound To Decline Below 148.50 Vs Japanese Yen?

    GBP/JPY Forecast – British Pound To Decline Below 148.50 Vs Japanese Yen?

    • – The British Pound is under a lot of pressure and it recently declined below 149.00 against the Japanese Yen.
    • – There are two bearish trend lines forming with resistances at 149.30 and 149.80 on the hourly chart of GBP/JPY.
    • – Today in Japan, the Gross Domestic Product for Q4 2017 (Prelim) was released by the Cabinet Office.
    • – The outcome was below the forecast of 0.2% as there was a rise in the GDP by 0.1% in Q4 2017.

    Japan’s Gross Domestic Product

    Today in Japan, the Gross Domestic Product for Q4 2017 (Prelim) was released by the Cabinet Office. The market was positioned for a rise of 0.2% in the GDP in Q4 2017 compared with the previous quarter.

     

    However, the actual result was below the forecast of 0.2% as there was a rise in the GDP by 0.1% in Q4 2017. This was well below the last reading of 0.6%. In terms of the yearly change, the preliminary reading suggests a rise of 0.5% in the GDP, less than the forecast of 0.9%.

     

    The GBP/JPY pair is currently declining, but there could be a minor upside correction towards the 149.30 and 149.80 resistance levels.

     

    GBP/JPY Technical Analysis

    The British Pound started a fresh downside move from well above the 154.00 level against the Japanese Yen. The GBP/JPY pair declined, broke the 152.00 and 150.00 support levels, and settled below the 100 hourly simple moving average.

     

    GBP/JPY Technical Analysis British Pound Japanese Yen

     

    The fell below the 149.00 support as well and traded as low as 148.70 recently. It seems like the pair could decline further towards the 1.236 Fib extension of the last wave from the 148.91 low to 150.82 high at 148.46. On the upside, there are two bearish trend lines forming with resistances at 149.30 and 149.80 on the hourly chart.

     

    If the pair corrects higher from the current levels, the 149.30 and 149.80 resistance levels are likely to act as a strong barrier.

     

    Overall, the pair decline below 148.50 and if sellers remains in control, it could even test the 1.618 Fib extension of the last wave from the 148.91 low to 150.82 high at 147.73.

    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 – Can British Pound Hold This Vs US Dollar?

    GBP/USD Forecast – Can British Pound Hold This Vs US Dollar?

    • – The British Pound is under pressure and it recently broke the 1.4000 support against the US Dollar.
    • – There are two bearish trend lines forming with resistance near 1.3880-1.3900 on the hourly chart of the GBP/USD pair.
    • – Recently in the UK, the RICS Housing Price Balance figure for Jan 2018 was released by the Royal Institution of Chartered Surveyors.
    • – The outcome was above the forecast of 5% as the RICS Housing Price increased by 8% in Jan 2018.

     

    UK RICS Housing Price Balance

    Recently in the UK, the RICS Housing Price Balance figure for Jan 2018 was released by the Royal Institution of Chartered Surveyors. The market was positioned for a rise of 5% in the index in Jan 2018 compared with the last reading of 8%.

     

    The actual result was above the forecast of 5% as the RICS Housing Price increased by 8% in Jan 2018. This was similar to the last reading of 8%. The report added:

     

    In January, new buyer enquiries, instructions and sales all continued to drift lower, while the three month expectations for agreed sales points to a flat picture in the coming months.

     

    The GBP/USD pair is currently under pressure and it must stay above the 1.3850 support to avoid further declines.

     

    GBP/USD Technical Analysis

    The British Pound started a downside move from the 1.4280 swing high against the US Dollar. The GBP/USD pair declined slowly and steadily to move below the 1.4200 and 1.4100 support levels. More importantly, it traded below the 1.4000 support and the 100 hourly simple moving average.

     

    GBP/USD Technical Analysis British Pound US Dollar

     

    The pair traded as low as 1.3850 and is currently consolidating losses. It is currently trading near the 23.6% Fib retracement level of the last decline from the 1.3993 high to 1.3850 low.

     

    However, on the upside, there are two bearish trend lines forming with resistance near 1.3880-1.3900 on the hourly chart of the GBP/USD pair. The pair struggle to break the 1.3900 resistance and the 50% Fib retracement level of the last decline from the 1.3993 high to 1.3850 low.

     

    On the downside, the 1.3850 support holds a lot of importance, and the pair must stay above 1.3850 to avoid further declines. On the upside, a break and close above 1.3900 could decrease the bearish pressure.

    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 – Can British Pound Remain above 1.4080 Vs US Dollar?

    GBP/USD Forecast – Can British Pound Remain above 1.4080 Vs US Dollar?

    • – The British Pound made a nice upside move recently and it traded above 1.4300 against the US Dollar before starting a correction.
    • – There is a short term bearish trend line forming with resistance at 1.4175 on the hourly chart of the GBP/USD pair.
    • – Recently in the UK, the Gross Domestic Product report for Q4 2017 (prelim) was released by the National Statistics.
    • – The outcome was above the forecast of 0.4% as the GDP grew by 0.5% (QoQ).

     

    UK Gross Domestic Product

    Recently in the UK, the Gross Domestic Product report for Q4 2017 (prelim) was released by the National Statistics. The market was positioned for a growth of 0.4% in Q4 2017 compared with the previous quarter.

     

    The actual result was above the forecast of 0.4% as the GDP grew by 0.5% (QoQ). In terms of the yearly change, there was an increase of 1.5% in the GDP, which was more than the forecast of 1.4%, but it was less than the last 1.7%.

     

    The GBP/USD pair is moving nicely in an uptrend with a major support on the downside around the 1.4080 level.

     

    GBP/USD Technical Analysis

    The British Pound traded sharply higher this past week and traded above the 1.4300 level against the US Dollar. The GBP/USD pair broke the 1.4280 and 1.4300 resistances to trade as high as 1.4345.

     

    GBP/USD Technical Analysis British Pound US Dollar

     

    Later, a downside move was initiated, but the pair found support near 1.4080. At the moment, the pair is moving inside a range above the 1.4080 level and is currently showing a lot of positive signs. The recent low was 1.4108 and the pair is trading near the 100 hourly simple moving average.

     

    The pair is currently attempting an upside break above the 23.6% Fib retracement level of the last decline from the 1.4286 high to 1.4108 low. On the upside, there is a short term bearish trend line forming with resistance at 1.4175 on the hourly chart.

     

    The trend line resistance is important along with the 38.2% Fib retracement level of the last decline from the 1.4286 high to 1.4108 low. A break and close above 1.4175-1.4180 could ignite a fresh upside wave 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/JPY Forecast – British Pound To Gain Further Vs Japanese Yen

    GBP/JPY Forecast – British Pound To Gain Further Vs Japanese Yen

    • – The British Pound made a nice upside move recently and is currently trading above 154.00 against the Japanese Yen.
    • – There is a crucial ascending channel forming with support at 154.10 on the hourly chart of GBP/JPY.
    • – Today in Japan, the Nikkei Manufacturing PMI for Jan 2017, preliminary reading was released.
    • – The outcome was above the forecast of 54.3 as there was a rise from 54.0 to 54.4.

    Japan’s Nikkei Manufacturing PMI

    Today in Japan, the Nikkei Manufacturing PMI for Jan 2017, preliminary reading was released. The market was positioned for a small rise in the index from the last reading of 54.0 to 54.3

     

    However, the actual result was above the forecast of 54.3 as there was a rise from 54.0 to 54.4, which means there was a decent expansion activity in Jan 2017. Commenting on the PMI report, an Economist at IHS Markit, Joe Hayes, stated:

     

    January flash PMI data for the Japanese manufacturing economy signalled further positivity. The sector as observed accelerated rates of improvement in each of the past three months.

     

    The GBP/JPY pair remains in an uptrend above the 154.00 support and it seems like the pair could accelerate above 154.50-80 in the near term.

     

    GBP/JPY Technical Analysis

    The British Pound started a major uptrend from the 152.20 swing low against the Japanese Yen. The GBP/JPY pair traded higher and broke many important resistances like 153.00 and 154.00 to close above the 100 hourly simple moving average.

     

    GBP/JPY Technical Analysis British Pound Japanese Yen

     

    The pair traded as high as 155.39 before starting a downside correction. It moved down and traded towards the 154.00 support. It seems like there is a crucial ascending channel forming with support at 154.10 on the hourly chart.

     

    The pair bounced once and traded above the 50% Fib retracement level of the last drop from the 155.39 high to 153.71 low. The upside move was protected by the 154.75 resistance. At the moment, the pair is holding the 134.00 support is currently trading above the 100 hourly SMA.

     

    As long as the pair is above the 154.00 level, it is likely to move higher. On the upside, a break above the 154.75-80 resistance is needed for buyers to gain traction.

    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 – Can British Pound Hold Gains Vs US Dollar?

    GBP/USD Forecast – Can British Pound Hold Gains Vs US Dollar?

    • – The British Pound traded higher this past week and moved above 1.3800 against the US Dollar.
    • – There is a short term connecting bullish trend line forming with support at 1.3840 on the hourly chart of the GBP/USD pair.
    • – Recently in the UK, the Retail Sales report for Dec 2017 was released by the National Statistics.
    • – The outcome was below the forecast of -0.6% as there was a decline in sales by 1.5% (MoM).

     

    UK Retail Sales

    Recently in the UK, the Retail Sales report for Dec 2017 was released by the National Statistics. The market was positioned for a decline of around 0.6% in Dec 2017 compared with the previous month.

     

    The actual result was below the forecast of -0.6% as there was a decline in sales by 1.5%. In terms of the yearly change, there was an increase of 1.4% in sales, which was less than the forecast of 3.0%. However, it was around the last revised reading of 1.5%.

     

    The GBP/USD pair is currently correcting lower, but it has to stay above the 1.3840 level to remain in the bullish zone.

     

    GBP/USD Technical Analysis

    The British Pound made a decent upside move and traded above 1.3800 and 1.3900 resistance levels against the US Dollar. The GBP/USD pair traded as high as 1.3944 before it started a downside correction from the mentioned level.

     

    GBP/USD Technical Analysis British Pound US Dollar

     

    The pair corrected lower and is currently trading below the 1.3900 level. It is testing the 23.6% Fib retracement level of the last wave from the 1.3536 low to 1.3944 high. On the downside, there is a short term connecting bullish trend line forming with support at 1.3840 on the hourly chart.

     

    The trend line support at 1.3840 is also around the 100 hourly simple moving average. Therefore, the 1.3830-40 levels hold a lot of importance for the next move. A break below 1.3830 and the 100 hourly SMA could call for a test of the 50% Fib retracement level of the last wave from the 1.3536 low to 1.3944 high at 1.3740.

     

    On the upside, an initial resistance is at 1.3900. Above 1.3900, the pair may test the 1.3944 high.

    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 Recoveries to Remain Capped Vs British Pound

    EUR/GBP Forecast – Euro Recoveries to Remain Capped Vs British Pound

    • – The Euro failed to move above 0.8920 and started declining against the British Pound.
    • – There is a major contracting triangle forming with current resistance at 0.8880 on the hourly chart of the EUR/GBP pair.
    • – Recently in the Euro Area, the German Factory orders for Nov 2017 was released by the Deutsche Bundesbank.
    • – The outcome was below the forecast of +0.8% as there was a decline in the index by 0.4%.

     

    German Factory Orders

    Recently in the Euro Area, the German Factory orders for Nov 2017 was released by the Deutsche Bundesbank. The market was positioned for a rise of 0.8% in the orders in Nov 2017 compared with the previous month.

     

    The actual result was below the forecast of +0.8% as there was a decline in the index by 0.4%. Looking at the domestic orders, there was a decline of 0.4%, but the foreign orders fell by 0.5% compared with the previous month.

     

    Overall, the EUR/GBP pair may not recover in the short term, and it could test the 0.8850 support area in the near term.

     

    EUR/GBP Technical Analysis

    The Euro made a decent ground from the 0.8850 low and traded above 0.8900 against the British Pound. The EUR/GBP pair traded as high as 0.0.8923 where it faced sell offers. Later, the pair started a downside move and traded below the 0.8900 support plus the 100 hourly simple moving average.

     

    EUR/GBP Technical Analysis Euro British Pound

     

    More importantly, there was a break below the 50% Fib retracement level of the last wave from the 0.8847 low to 0.8923 high. At the moment, it seems like there is a major contracting triangle forming with current resistance at 0.8880 on the hourly chart.

     

    The pair is currently struggling and is below the 61.8% Fib retracement level of the last wave from the 0.8847 low to 0.8923 high. Therefore, there are chances of a downside move back towards the 0.8850 swing low in the near term.

     

    Should there be a short term correction toward 0.8870 and 0.8880, the pair could face selling interest. Only a close above 0.8880 and the 100 hourly SMA could reduce the current bearish pressure on EUR/GBP.

    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 Eyes 1.3600 Vs US Dollar

    GBP/USD Forecast – British Pound Eyes 1.3600 Vs US Dollar

    • – The British Pound is moving higher and it may soon test the 1.3600 level against the US Dollar.
    • – There is a crucial bullish trend line forming with support at 1.3550 on the hourly chart of the GBP/USD pair.
    • – Recently in the UK, the British Retail Consortium (BRC) Shop Price Index for Dec 2017 was released.
    • – The outcome was below the forecast of -0.5% as there was a decline in the index by 0.6% (YoY).

     

    British Retail Consortium (BRC) Shop Price Index

    Recently in the UK, the British Retail Consortium (BRC) Shop Price Index for Dec 2017 was released. The market was positioned for a decline of around 0.5% in Dec 2017 compared with the same month a year ago.

     

    The actual result was below the forecast of -0.5% as there was a decline in the index by 0.6%. It was also way below the last decline of 0.1%. Commenting on the report, Helen Dickinson OBE, Chief Executive, British Retail Consortium, stated:

     

    After several months of shop prices teetering on the edge of inflation, December saw them retreat deeper into deflationary territory. Prices in December fell at the fastest rate since March this year when only last month we saw the shallowest rate of deflation for four years.

     

    However, there was no negative impact on the GBP/USD pair and it seems like the pair might continue to move higher towards 1.3600.

     

    GBP/USD Technical Analysis

    The British Pound started a decent upside move from the 1.3480 swing low against the US Dollar. The GBP/USD pair made good ground and was able to trade above the 1.3550 resistance, and also closed above the 100 hourly simple moving average.

     

    GBP/USD Technical Analysis British Pound US Dollar

     

    The pair is now above the 50% Fib retracement level of the last decline from the 1.3612 high to 1.3494 low. It is following a crucial bullish trend line with support at 1.3550 on the hourly chart. The same trend line around 1.3550 is close to the 100 hourly SMA.

     

    At the moment, the pair is testing the 61.8% Fib retracement level of the last decline from the 1.3612 high to 1.3494 low. A break and close above the 1.3560-70 levels could open the doors for a move towards 1.3600.

     

    On the downside, the 1.3550 and 1.3540 are major supports and buy zones in the short 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 Looks Set to Break 1.3500 Vs US Dollar

    GBP/USD Forecast – British Pound Looks Set to Break 1.3500 Vs US Dollar

    • – The British Pound is gaining upside momentum above the 1.3400 handle against the US Dollar.
    • – There was a break above two important bearish trend lines at 1.3350 on the hourly chart of the GBP/USD pair.
    • – Recently in the US, the Consumer Price Index for Nov 2017 was released by the US Bureau of Labor Statistics.
    • – The outcome was around the forecast as there was a rise in the CPI by 0.4% (MoM) in Nov 2017.

     

    US CPI and Fed Rate Decision

    Recently in the US, the Consumer Price Index for Nov 2017 was released by the US Bureau of Labor Statistics. The market was positioned for a rise of 0.4% in the index in Nov 2017 compared with the previous month.

     

    The actual result was around the forecast as there was a rise in the CPI by 0.4% (MoM) in Nov 2017. In terms of the yearly change, there was a rise of 2.2%, which was again in line with the forecast.

     

    In another release, the Federal Reserve Bank raised interest rates from 1.25% to 1.50%. The market turned green and most pairs made an upside move including GBP/USD.

     

    GBP/USD Technical Analysis

    The British Pound formed a good support near the 1.3300-1.3305 levels against the US Dollar, and started an upside move. The GBP/USD pair made good ground and was able to move above the 1.3400 handle and settled above the 100 hourly simple moving average.

     

    GBP/USD Technical Analysis British Pound US Dollar

     

    During the upside move, the pair was able to break the 50% Fib retracement level of the last decline from the 1.3519 high to 1.3302 low. Moreover, there was a break above two important bearish trend lines at 1.3350 on the hourly chart.

     

    The pair is now placed well in the bullish zone and is eyeing further gains above 1.3450. At the moment, the 61.8% Fib retracement level of the last decline from the 1.3519 high to 1.3302 low is acting as a resistance.

     

    Once there is a break above the 1.3450 level, there can be an upside move towards the 1.3500 level 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 Correcting Lower Vs US Dollar

    GBP/USD Forecast – British Pound Correcting Lower Vs US Dollar

    • – The British Pound started a downside move after trading as high as 1.3540 against the US Dollar.
    • – There is a major expanding triangle forming with resistance near 1.3490 on the hourly chart of the GBP/USD pair.
    • – Recently in the US, the ISM Non-Manufacturing Index for Nov 2017 was released by the Institute for Supply Management (ISM).
    • – The outcome was below the forecast of 59.0 as there was a decline in index from 60.1 to 57.4.

     

    US ISM Non-Manufacturing Index

    Recently in the US, the ISM Non-Manufacturing Index for Nov 2017 was released by the Institute for Supply Management (ISM). The market was positioned for a decline in the index from the last reading of 60.1 to 59.0 in Nov 2017.

     

    The actual result was below the forecast of 59.0 as there was a decline in index from 60.1 to 57.4. Moreover, the Non-Manufacturing Business Activity Index was down by 0.8% to 61.4% from the October reading of 62.2%. The report added that:

     

    The New Orders Index registered 58.7 percent, 4.1 percentage points lower than the reading of 62.8 percent in October. The Employment Index decreased 2.2 percentage points in November to 55.3 percent from the October reading of 57.5 percent.

     

    Overall, the result was mixed, but failed to help GBP/USD, and the pair might continue to decline towards 1.3350 in the near term.

     

    GBP/USD Technical Analysis

    The British Pound had a good bullish run above the 1.3400 handle against the US Dollar. The GBP/USD pair popped higher and broke a few important resistance levels such as 1.3480, 1.3500 and the 100 hourly simple moving average.

     

    GBP/USD Technical Analysis British Pound US Dollar

     

    The pair traded as high as 1.3548 and later a downside correction was initiated. It is slowly moving lower and already broke the 1.3500 and 1.3480 support levels. It also cleared the 100 hourly SMA and the 1.3450 pivot area.

     

    It seems like the pair is following a major expanding triangle with resistance near 1.3490 on the hourly chart. An initial resistance on the upside is around the 1.3475 level and the 100 hourly SMA. It also coincides with the 61.8 % Fib retracement level of the last decline from the 1.3538 high to 1.3370 low.

     

    Overall, the GBP/USD pair is under pressure in the short term and it could even break the 1.3400 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

Join Our Newsletter:

↓  US & Canadian Traders Welcome  Make the trade