LMFX PAMM


Forex broker List

  • EUR/USD Forecast – Euro to Decline Below 1.2250 Vs US dollar?

    EUR/USD Forecast – Euro to Decline Below 1.2250 Vs US dollar?

    • – The Euro started a downside move and traded below the 1.2360 support against the US Dollar.
    • – There is a major bearish trend line forming with resistance at 1.2330 on the hourly chart of EUR/USD.
    • – Recently in the Euro Zone, the German business sentiment index for Feb 2018 was released by the CESifo Group.
    • – The outcome was below the forecast of 117.0 as the index declined from the last reading of 117.6 to 115.4.

    German IFO Business Climate Index

    Recently in the Euro Zone, the German business sentiment index for Feb 2018 was released by the CESifo Group. The market was looking for the index to decline from the last reading of 117.6 to 117.0 in Feb 2018.

     

    The actual result was below the forecast of 117.0 as the index declined from the last reading of 117.6 to 115.4. The German IFO Current Assessment index also posted a decline from the last revised reading of 127.8 to 126.3. Moreover, the IFO Expectations index fell from the last revised reading of 108.3 to 105.4.

     

    The EUR/USD pair is facing sellers after it broke the 1.2400 and 1.2360 support levels, which could increase pressure in the short term.

     

    EUR/USD Technical Analysis

    The Euro started a fresh downside wave from well above the 1.2450 level against the US Dollar. The EUR/USD pair declined below a couple of support levels such as 1.2400 and 1.2360 to settle below the 100 hourly simple moving average.

     

    EUR/USD Technical Analysis Euro US Dollar

     

    The pair recently traded as low as 1.2259. It started an upside correction and moved above the 1.2300 level. However, the pair is struggling to break the 23.6% Fib retracement level of the last decline from the 1.2551 high to 1.2259 low.

     

    More importantly, there is a major bearish trend line forming with resistance at 1.2330 on the hourly chart of EUR/USD. The trend line resistance near 1.2330 is also around the 100 hourly SMA. Therefore, a break above the 1.2330 level won’t be easy for buyers.

     

    On the downside, the 1.2280 level is a decent support followed by 1.2250. Below 1.2250, the pair may retest the 1.2200 level.

    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/USD Forecast – Euro in Major Uptrend Vs US dollar

    EUR/USD Forecast – Euro in Major Uptrend Vs US dollar

    • – The Euro made a nice upside move this week and traded above 1.2500 against the US Dollar.
    • – There is an ascending channel forming with support at 1.2505 on the hourly chart of EUR/USD.
    • – Recently in the US, the Net Long-Term TIC Flows for Dec 2017 were released by the US Department of Treasury.
    • – The outcome was below the forecast of $50.3B as the Net Long-Term TIC Flows came in at $27.3B.

    US Net Long-Term TIC Flows

    Recently in the US, the Net Long-Term TIC Flows for Dec 2017 were released by the US Department of Treasury. The market was looking for the flows to be around $50.3B, down from the last $57.5B.

     

    The actual result was below the forecast of $50.3B as the Net Long-Term TIC Flows came in at $27.3B. Looking at the total Net TIC Flows, the market was looking for $-37.0B, but it came in at $-119.3B. This was also well below the last revised reading of $33.5B.

     

    The EUR/USD pair is currently placed nicely above the 1.2500 support and it may continue to rise in the near term.

     

    EUR/USD Technical Analysis

    The Euro after a decline towards the 1.2260 level found support against the US Dollar. The EUR/USD pair started an upside move, traded above the 1.2350 and 1.2480 resistance levels, and settled above the 100 hourly simple moving average.

     

    EUR/USD Technical Analysis Euro US Dollar

     

    The pair even broke the 1.2500 level and traded as high as 1.2546 recently. It may correct a few pips in the near term, which an initial support around the 23.6% Fib retracement level of the last wave from the 1.2384 low to 1.2546 high.

     

    However, the pair remains supported on the downside above 1.2500. There is also an ascending channel forming with support at 1.2505 on the hourly chart. Below the channel support, the next major support is at 1.2550 and the 50% Fib retracement level of the last wave from the 1.2384 low to 1.2546 high.

     

    On the upside, the pair may soon break the 1.2540-50 resistance area and trade towards 1.2600 in the near term, which is the next major resistance.

    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/JPY Forecast – Euro In Downtrend Below 134.00 Vs Japanese Yen

    EUR/JPY Forecast – Euro In Downtrend Below 134.00 Vs Japanese Yen

    • – The Euro is following a downtrend and is currently trading below 134.00 against the Japanese Yen.
    • – There is a declining channel forming with resistance at 133.10 on the hourly chart of EUR/JPY.
    • – Today in Japan, the Machinery New Orders report for Dec 2017 was released by the Cabinet Office.
    • – The outcome was below the forecast of +2.2% as there was a decline in order by 5% (YoY).

     

    Japan’s Machinery New Orders

    Today in Japan, the Machinery New Orders report for Dec 2017 was released by the Cabinet Office. The market was looking for a 2.2% rise in orders in Dec 2017 compared with the same month a year ago.

     

    However, the actual result was below the forecast of +2.2% as there was a decline in order by 5% (YoY). It was well below the last increase of 4.1%. Moreover, the monthly change posted a decline of 11.9%, whereas the market was looking for -2.3%. This was a lot worse compared with the last increase of 5.7%.

     

    The EUR/JPY pair may correct a few pips in the short term, but it remains in a downtrend below the 133.40 resistance.

     

    EUR/JPY Technical Analysis

    The Euro started a downside move from well above 134.50 and declined by more than 100 pips recently against the Japanese Yen. The EUR/JPY pair faced a lot of selling pressure and moved below the 134.00 and 133.80 support levels.

     

    EUR/JPY Technical Analysis Euro Japanese Yen

     

    The pair is now trading below the 133.50 level and the 100 hourly simple moving average. It traded as low as 131.59 and recovered recently. However, the upside move was capped by 133.30 and the 100 hourly simple moving average.

     

    Moreover, there is a declining channel forming with resistance at 133.10 on the hourly chart. On the downside, an initial support is around the 50% Fib retracement level of the last wave from the 131.59 low to 133.38 high.

     

    There are chances of a couple of swing moves in EUR/JPY around 133.00 in the near term. Once there is a close above the 133.50 resistance and the 100 hourly SMA, the pair could gain upside momentum.

    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/USD Forecast – Euro Could Decline Further Vs US dollar

    EUR/USD Forecast – Euro Could Decline Further Vs US dollar

    • – The Euro started a downside wave and moved below the 1.2280 support against the US Dollar.
    • – There is a major bearish trend line forming with current resistance at 1.2290 on the hourly chart of EUR/USD.
    • – Recently in China, the Consumer Price Index for Jan 2018 was released by the National Bureau of Statistics of China.
    • – The outcome was below the forecast of 0.7% as the index increased by 0.6% in Jan 2018 (MoM).

    Chinese Consumer Price Index

    Recently in China, the Consumer Price Index for Jan 2018 was released by the National Bureau of Statistics of China. The market was looking for a rise of 0.6% in the index in Jan 2018 compared with the previous month.

     

    The actual result was below the forecast of 0.7% as the index increased by 0.6% in Jan 2018. In terms of the yearly change, the Chinese CPI rose 1.5%, which was in line with the forecast, but it was below the last 1.8%.

     

    The EUR/USD pair is currently under pressure, and it seems like the pair could even break the 1.2200 support for more declines.

     

    EUR/USD Technical Analysis

    The Euro after trading above the 1.2500 level found sellers against the US Dollar. The EUR/USD pair started a downside move, broke the 1.2400 and 1.2320 support levels and settled below the 100 hourly simple moving average.

     

    EUR/USD Technical Analysis Euro US Dollar

     

    The pair traded as low as 1.2211 low recently and is currently correcting higher. It already tested the 38.2% Fib retracement level of the last decline from the 1.2405 high to 1.2217 low. However, there was no follow through and the pair is now back below the 1.2270 support.

     

    On the upside, there is a major bearish trend line forming with current resistance at 1.2290 on the hourly chart. The 50% Fib retracement level of the last decline from the 1.2405 high to 1.2217 low is near the trend line resistance.

     

    Therefore, a break above the 1.2290 and 1.2300 levels won’t be easy. If EUR/USD fails to move higher, it could soon break the 1.2200 support area and decline further may be towards the 1.2150 level.

    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/USD Forecast – Euro Buy on Dips Near 1.2460 Vs US dollar

    EUR/USD Forecast – Euro Buy on Dips Near 1.2460 Vs US dollar

    • – The Euro is in a major uptrend and it recently tested the 1.2500 level against the US Dollar.
    • – There is a crucial ascending channel forming with support at 1.2460 on the hourly chart of EUR/USD.
    • – Recently in the US, the Institute for Supply Management (ISM) Manufacturing Index for Jan 2018 was released.
    • – The outcome was above the forecast of 58.8 as the index came in at 59.1.

    US ISM Manufacturing Index

    Recently in the US, the Institute for Supply Management (ISM) Manufacturing Index for Jan 2018 was released. The market was looking for a decrease in the index from the last reading of 59.7 to 58.8.

     

    The actual result was above the forecast of 58.8 as the index came in at 59.1. The last reading was revised down from 59.7 to 59.3. Thus, the overall decline was 0.2. The report added that:

     

    New Orders, Production, and Employment Continue Growing, Supplier Deliveries Slowing at Faster Rate, Backlog Growing Raw Materials Inventories Growing, Customers’ Inventories Too Low Prices Increasing at Faster Rate.

     

    The EUR/USD pair is well supported above the 1.2450-60 levels and it may continue to move higher in the near term.

     

    EUR/USD Technical Analysis

    The Euro made a nice upside move and traded above the 1.2450 resistance level against the US Dollar. The EUR/USD pair even traded above the 1.2500 level and is currently placed well above the 100 hourly simple moving average.

     

    EUR/USD Technical Analysis Euro US Dollar

     

    The pair traded as high as 1.2522 before it started a downside correction. It is currently testing the 23.6% Fib retracement level of the last wave from the 1.2384 low to 1.2522 high. The current price action is positive as long as the pair is above 1.2450.

     

    On the downside, there is a crucial ascending channel forming with support at 1.2460 on the hourly chart. The channel support is around the 50% Fib retracement level of the last wave from the 1.2384 low to 1.2522 high. Therefore, the 1.2450-60 area is a major support and it can be seen as a buy zone.

     

    As long as the pair is above the 1.2450 level, dips remain supported. On the upside, an initial resistance is at 1.2500, followed by the 1.2520-30 resistance 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/JPY Forecast – Euro Remains in Uptrend above 135.30 Vs Japanese Yen

    EUR/JPY Forecast – Euro Remains in Uptrend above 135.30 Vs Japanese Yen

    • – The Euro is struggling to move above the $136.15-20 resistance area against the Japanese Yen.
    • – There is a key bullish trend line forming with support at 135.60 on the hourly chart of EUR/JPY.
    • – Today in Japan, the Nikkei Manufacturing PMI for January 2018 was released.
    • – The outcome was above the forecast of 54.4 as there was a rise in the PMI to 54.8.

     

    Japan’s Nikkei Manufacturing PMI

    Today in Japan, the Nikkei Manufacturing PMI for January 2018 was released. The market was positioned for no change in the PMI from 54.4 in Jan 2018.

     

    However, the actual result was above the forecast of 54.4 as there was a rise in the PMI to 54.8. This is the third consecutive month of an increase in Japan’s Nikkei Manufacturing PMI. The report added:

     

    The Japanese manufacturing sector gained further momentum at the start of 2018. Output and new order growth rates accelerated, while businesses raised employment amid rising backlogs of work. Robust demand also encouraged firms to pass on part of the sharp rise in cost burdens to customers.

     

    The EUR/JPY pair is stable above the 135.30 and 135.00 support levels, but it has to clear sell offers near 136.15 to gain further momentum.

     

    EUR/JPY Technical Analysis

    The Euro remains in a decent uptrend above the 135.00 handle against the Japanese Yen. The EUR/JPY pair recently traded higher and tested an important resistance at 136.15-136.20. The mentioned 136.20 resistance is significant and it recently stopped an upside break on many occasions.

     

    EUR/JPY Technical Analysis Euro Japanese Yen

     

    The pair failed to gain pace and started a downside correction. It moved below the 23.6% Fib retracement level of the last wave from the 134.12 low to 136.03 high.

     

    However, the downside move was limited by 135.50 and a key bullish trend line with support at 135.60 on the hourly chart of EUR/JPY. The pair is well supported above the 135.50-60 levels. However, it has to move past 136.20 to further accelerate higher.

     

    Once there is a proper close above 136.20, the pair could trade towards the 137.00 level in the near term. On the downside, below 135.50, the next major support is around the 135.00 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

  • EUR/USD Forecast – Euro bullish Above 1.2400 US dollar?

    EUR/USD Forecast – Euro bullish Above 1.2400 US dollar?

    • – The Euro surged higher this week and traded above the 1.2500 resistance against the US Dollar before starting a correction.
    • – There is a major bullish trend line forming with current support at 1.2405 on the hourly chart of EUR/USD.
    • – Recently in the US, the number of New Home sales for Dec 2017 was released by the US Census Bureau.
    • – The outcome was below the forecast of -7.9% as there was a decline in sales by 9.3%.

    US New Home Sales

    Recently in the US, the number of New Home sales for Dec 2017 was released by the US Census Bureau. The market was looking for a decrease in sales by around 7.9% in Dec 2017 compared with the previous month.

     

    The actual result was below the forecast of -7.9% as there was a decline in sales by 9.3%. The last reading was also revised down from +17.5% to +15.0%. The report added that:

     

    This is 9.3 percent (±11.0 per cent)* below the revised November rate of 689,000, but is 14.1 percent (±13.0 percent) above the December 2016 estimate of 548,000. An estimated 608,000 new homes were sold in 2017. This is 8.3 percent (±4.1 percent) above the 2016 figure of 561,000.

     

    The EUR/USD pair remains in an uptrend as long as the 1.2400 support area is intact, and the pair may continue to move higher.

     

    EUR/USD Technical Analysis

    The Euro surged higher this week and gained by more than 250 pips to trade above the 1.2500 level against the US Dollar. The EUR/USD pair traded above the 1.2400 and 1.2500 levels and is currently placed well above the 100 hourly simple moving average.

     

    EUR/USD Technical Analysis Euro US Dollar

     

    The pair formed a high at 1.2537 from where a sharp downside wave was initiated. However, the pair found support around the 1.2370-80 level and is currently holding ground. There is a major bullish trend line forming with current support at 1.2405 on the hourly chart.

     

    The pair is moving higher and is currently above the 23.6% Fib retracement level of the last decline from the 1.2537 high to 1.2365 low.

     

    The pair will most likely continue to move higher back towards 1.2500. Above the 1.2500 level, the pair may head towards the 1.2540 level.

    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/USD Forecast – Euro to Break 1.2300 Vs US dollar?

    EUR/USD Forecast – Euro to Break 1.2300 Vs US dollar?

    • – The Euro is in a major uptrend and is currently trading above 1.2220 against the US Dollar.
    • – There is a crucial bullish trend line forming with current support at 1.2240 on the hourly chart of EUR/USD.
    • – Recently in the US, the Initial Jobless Claims figure for the week ending Jan 13, 2017 was released by the US Department of Labor.
    • – The outcome was above the forecast of 250K as there was a decline in claims from 261K to 220K.

    US Initial Jobless Claims

    Recently in the US, the Initial Jobless Claims figure for the week ending Jan 13, 2017 was released by the US Department of Labor. The market was looking for a decrease in claims from the last reading of 261K to 250K.

     

    The actual result was above the forecast of 250K as there was a decline in claims from 261K to 220K. On the other hand, the Counting Jobless Claims came in at 1.952M, a bit more than the forecast of 1.900M. The report added that:

     

    The advance number for seasonally adjusted insured unemployment during the week ending January 6 was 1,952,000, an increase of 76,000 from the previous week’s revised level.

     

    The EUR/USD pair declined a few pips after the release, but the pair remained supported above the 1.2200-1.2240 support area.

     

    EUR/USD Technical Analysis

    The Euro made a nice upside move and traded above the 1.2100 resistance level against the US Dollar. The EUR/USD pair gained solid upside pace to clear the 1.2250 resistance and the 100 hourly simple moving average.

     

    EUR/USD Technical Analysis Euro US Dollar

     

    The upside move was strong and the pair traded as high as 1.2322 before starting a downside correction. It traded as low as 1.2169 and is currently moving back higher. On the downside, a crucial bullish trend line is providing support at 1.2240 on the hourly chart.

     

    Recently, the pair broke a short-term connecting bearish trend line at 1.2240. Moreover, it broke the 50% Fib retracement level of the last decline from the 1.2325 high to 1.2169 low. It has opened the doors for more gains in the near term above 1.2300.

     

    The pair will most likely break the 1.2300 resistance and gain pace towards 1.2325 as long as it is above the 1.2240 support area.

    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/JPY Forecast – Euro to Break Past 136.00 Vs Japanese Yen?

    EUR/JPY Forecast – Euro to Break Past 136.00 Vs Japanese Yen?

    • – The Euro is gaining pace above the 135.00 level against the Japanese Yen.
    • – There is a major bullish trend line forming with support at 135.50 on the hourly chart of EUR/JPY.
    • – Today in Japan, the Machinery New orders figure for Nov 2017 was released by the Cabinet Office.
    • – The outcome was above the forecast of -1.4% as there was a rise in orders by 5.7% (MoM).

     

    Japan’s Machinery New Orders

    Today in Japan, the Machinery New orders figure for Nov 2017 was released by the Cabinet Office. The market was positioned for a decline of 1.4% in orders in Nov 2017 compared with the previous month.

     

    However, the actual result was above the forecast of -1.4% as there was a rise in orders by 5.7%. Looking at the yearly change, there was an increase of 4.1% in the Machinery New orders, which was a lot better than the forecast of -0.7%. It was even better than the last reading of 2.3%.

     

    The EUR/JPY pair remains in an uptrend and it is very likely to break the 136.00 resistance area for more gains in the near term.

     

    EUR/JPY Technical Analysis

    The Euro started an upside wave from the 133.00 swing low against the Japanese Yen. The EUR/JPY pair traded higher and was able to move above the 134.50 and 135.00 resistance levels. It even traded a few pips above the 136.00 level and settled above the 100 hourly simple moving average.

     

    EUR/JPY Technical Analysis Euro Japanese Yen

     

    The pair formed a high at 136.09 from where it corrected lower towards 135.00. A low was formed at 134.97 from where a fresh upside wave was initiated. The pair is now above the 50% Fib retracement level of the last decline from the 136.09 high to 134.97 low.

     

    On the downside, there is a major bullish trend line forming with support at 135.50 on the hourly chart of EUR/JPY. The trend line support at 135.50 is a decent buy zone in the short term.

     

    On the upside, the pair is likely to break the 136.00 level and the 136.09 high for more gains. Above 136.09, the pair could accelerate toward the 136.50 level.

    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/USD Forecast – Euro Breaks Key Resistance Vs US dollar

    EUR/USD Forecast – Euro Breaks Key Resistance Vs US dollar

    • – The Euro made a nice upside move and broke the 1.2000 resistance against the US Dollar.
    • – There was a break above a major bearish trend line with resistance at 1.1990 on the hourly chart of EUR/USD.
    • – Recently in China, the Trade Balance report for Dec 2017 was released by the General Administration of Customs of the People’s Republic of China.
    • – The outcome was above the forecast of $37.00B as there was a trade surplus of $54.69B.

    China’s Trade Balance

    Recently in China, the Trade Balance report for Dec 2017 was released by the General Administration of Customs of the People’s Republic of China. The market was looking for a trade surplus of $37.00B compared with the last reading of $40.21B.

     

    The actual result was above the forecast of $37.00B as there was a trade surplus of $54.69B. China’s Imports of goods and services in Dec 2017 increased by 4.5%, which was less than the forecast of 13.0%. Moreover, exports of goods and services in Dec 2017 increased by 10.9%, which was more than the forecast of 9.1%

     

    The EUR/USD pair is currently placed nicely in the bullish zone and the pair may continue to rise as long as above 1.2000.

     

    EUR/USD Technical Analysis

    The Euro started a decent upside move from the 1.1928 swing low against the US Dollar. The EUR/USD pair traded higher and broke the 1.1950 and 1.1960 resistance levels. It initiated a nice uptrend and the pair was able to break the 1.2000 level.

     

    EUR/USD Technical Analysis Euro US Dollar

     

    During the upside move, there was a break above a major bearish trend line with resistance at 1.1990 on the hourly chart. The pair is now well above the 1.2000 level and the 100 hourly simple moving average. It traded as high as 1.2065 recently and it looks set for more gains.

     

    An initial support on the downside is around the 23.6% Fib retracement level of the last wave from the 1.1928 low to 1.2065 high.

     

    If the pair corrects lower from the current levels, it is likely to find support around 1.2020 and 1.2000. On the upside, a break above 1.2065 could push EUR/USD towards 1.2100.

    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