LMFX PAMM


Forex broker List

  • EUR/USD Forecast – Euro Is Likely To Recover Above 1.1420 Vs US Dollar

    EUR/USD Forecast – Euro Is Likely To Recover Above 1.1420 Vs US Dollar

    • – The Euro recovered slightly after trading towards the 1.1300 level against the US Dollar.
    • – There is a short-term breakout pattern forming with resistance near 1.1405 on the hourly chart of EUR/USD.
    • – Recently in the US, the Housing Starts figure for July 2018 was released by the US Census Bureau, at the Department of Commerce.
    • – The outcome was below the forecast of 1.260M as the Housing Starts came in at 1.168M (MoM).

    US Housing Starts

    Recently in the US, the Housing Starts figure for July 2018 was released by the US Census Bureau, at the Department of Commerce. The market was looking for a change from the last reading of 1.173M to 1.260M compared with the previous month.

     

    The actual result was below the forecast of 1.260M as the Housing Starts came in at 1.168M. Moreover, the last reading was revised to 1.158M. Looking the Building Permits, there was a rise from the last revised reading of 1.292M to 1.311M.

     

    The EUR/USD pair started a decent recovery recently and it managed to move above the 1.1340 and 1.1350 resistance levels.

     

    EUR/USD Technical Analysis

    The Euro declined heavily during the past few days and traded below the 1.1450 support area against the US Dollar. The EUR/USD pair even traded below the 1.1380 and 1.1350 support levels to challenge the 1.1300 support.

     

    EUR/USD Technical Analysis Euro US Dollar

     

    The pair traded as low as 1.1300 and later started an upside correction. It gained traction and moved above the 1.1350 resistance and the 100 hourly simple moving average. However, it found resistance near 1.1400 and later dropped below the 38.2% Fib retracement level of the last wave from the 1.1300 low to 1.1408 high.

     

    However, downsides were protected by the 1.1350 support and the 50% Fib retracement level of the last wave from the 1.1300 low to 1.1408 high. At the moment, it seems like there is a short-term breakout pattern forming with resistance near 1.1405 on the hourly chart of EUR/USD.

     

    The pair is likely to gain momentum above 1.1400 for more gains in the near term. On the flip side, a downside break below 1.1350 could push the pair back in a bearish 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/USD Forecast – Euro Remains At Risk of More Declines Vs US Dollar

    EUR/USD Forecast – Euro Remains At Risk of More Declines Vs US Dollar

    • – The Euro failed to move past the 1.1615-20 resistance and declined against the US Dollar.
    • – There was a break below a major bullish trend line with support at 1.1602 on the hourly chart of EUR/USD.
    • – Recently in the US, the Producer Price Index for July 2018 was released by the Bureau of Labor statistics, Department of Labor.
    • – The outcome was below the forecast of +0.2% as there was no change in the PPI in July 2018 (MoM).

    US Producer Price Index

    Recently in the US, the Producer Price Index for July 2018 was released by the Bureau of Labor statistics, Department of Labor. The market was looking for a rise of 0.2% in the PPI in July 2018 compared with the previous month.

     

    The actual result was below the forecast of +0.2 as there was no change in the PPI in July 2018. Looking at the yearly change, there was a rise of 3.3% in the PPI, which was less than the forecast of +3.4% and also below the last +3.4%.

     

    The EUR/USD pair started a minor upside move after trading as low as 1.1515, but it is likely to face many hurdles on the upside.

     

    EUR/USD Technical Analysis

    The Euro faced a lot of sellers near the 1.1615-20 resistance against the US Dollar. The EUR/USD pair started declining and broke many support levels such as 1.1600, 1.1580 and 1.1540 to settle below the 100 hourly simple moving average.

     

    EUR/USD Technical Analysis Euro US Dollar

     

    During the decline, there was a break below a major bullish trend line with support at 1.1602 on the hourly chart of EUR/USD. The pair traded as low as 1.1515 and it is currently correcting higher towards the 23.6% Fib retracement level of the last drop from the 1.1618 high to 1.1515 low.

     

    On the upside, there are many resistances near the 1.1555 level. There is also a bearish trend line in place near 1.1552, which coincides with the 50% Fib retracement level of the last drop from the 1.1618 high to 1.1515 low.

     

    Therefore, if the pair corrects higher, it is likely to face sellers near the 1.1540 and 1.1550 levels. On the downside, the 1.1520 and 1.1515 are supports, below which, the price could test the 1.1500 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 Tumbles Below Key Support Vs US Dollar

    EUR/USD Forecast – Euro Tumbles Below Key Support Vs US Dollar

    • – The Euro fell sharply and broke a key support near the 1.1630 level against the US Dollar.
    • – There is a crucial bearish trend line formed with resistance at 1.1615 on the hourly chart of EUR/USD.
    • – Recently in the US, the Factory orders report for June 2018 was released by the US Census Bureau.
    • – The outcome was in line with the forecast as there was a rise of 0.7% in orders in June 2018 (MoM).

    US Factory Orders

    Recently in the US, the Factory orders report for June 2018 was released by the US Census Bureau. The market was looking for a rise of 0.7% in the factory orders in June 2018 compared with the previous month.

     

    The actual result was in line with the forecast as there was a rise of 0.7% in orders in June 2018. However, the 0.7% rise was a lot more than the last increase of 0.4%.

     

    The EUR/USD pair is under pressure below 1.1630 and 1.1615, and today’s US NFP report could trigger more losses in the near term.

     

    EUR/USD Technical Analysis

    The Euro failed to hold gains above the 1.1720 level against the US Dollar. The EUR/USD pair started a major downside move, broke the 1.1700, 1.1650 and 1.1630 support levels, and settled below the 100 hourly simple moving average.

     

    EUR/USD Technical Analysis Euro US Dollar

     

    The decline was such that the pair even broke the 1.1600 support and traded as low as 1.1581. It is currently consolidating with an initial resistance near the 23.6% Fib retracement level of the last decline from the 1.1667 high to 1.1581 low.

     

    There is also a crucial bearish trend line formed with resistance at 1.1615 on the hourly chart of EUR/USD. The trend line coincides with the 38.2% Fib retracement level of the last decline from the 1.1667 high to 1.1581 low.

     

    A break and close above the 1.1615 is needed for a larger upward correction toward 1.1630 and 1.1640 in the near term. On the other hand, 1.1580 is an initial support. Below this, the pair is likely to accelerate declines towards the 1.1550 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 At Risk of More Declines Vs US Dollar

    EUR/USD Forecast – Euro At Risk of More Declines Vs US Dollar

    • – The Euro declined recently and broke the 1.1675 support area against the US Dollar.
    • – There was a break below a major bullish trend line with support at 1.1685 on the hourly chart of EUR/USD.
    • – Recently in the US, the Goods Trade Balance for June 2018 was released by the US Bureau of Economic Analysis.
    • – The outcome was below the market forecast of $-67.00B as there was a trade deficit of $-68.33B.

    US Goods Trade Balance

    Recently in the US, the Goods Trade Balance for June 2018 was released by the US Bureau of Economic Analysis. The market was looking for a trade deficit of around $-67.00B compared with the last deficit of $-64.85B.

     

    The actual result was below the market forecast of $-67.00B as there was a trade deficit of $-68.33B, up $3.6 billion from $64.8 billion in May. The report added:

     

    Exports of goods for June were $141.9 billion, $2.2 billion less than May exports. Imports of goods for June were $210.3 billion, $1.3 billion more than May imports.

     

    The EUR/USD pair found support near the 1.1640 level recently and is currently correcting towards the 1.1675 and 1.1690 resistance levels.

     

    EUR/USD Technical Analysis

    The Euro was in a decent uptrend from the 1.1580 swing low against the US Dollar. The EUR/USD pair traded above the 1.1700 resistance level, but it faced a strong resistance near the 1.1740-50 resistance zone.

     

    EUR/USD Technical Analysis Euro US Dollar

     

    As a result, the pair declined and broke the 1.1700 and 1.1675 support levels. Moreover, there was a break below a major bullish trend line with support at 1.1685 on the hourly chart of EUR/USD. There was also a close below 1.1675 and the 100 hourly SMA. It tested the 1.1640 support area where buyers emerged.

     

    At the moment, the pair is correcting higher towards the 23.6% Fib retracement level of the last decline from the 1.1743 high to 1.1637 low. However, there are many resistances on the upside near the 1.1680 level.

     

    Furthermore, there is a bearish trend line with resistance near 1.1690, which coincides with the 50% Fib retracement level of the last decline from the 1.1743 high to 1.1637 low. Therefore, upsides are likely to be capped by the 1.1680-90 resistance zone. On the downside, below 1.1640, the pair could test the 1.1600 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/JPY Forecast – Euro Facing Crucial Resistance Vs Japanese Yen

    EUR/JPY Forecast – Euro Facing Crucial Resistance Vs Japanese Yen

    • – The Euro declined recently and broke the 130.60 support area against the Japanese Yen.
    • – There is a crucial bearish trend line in place with resistance at 130.55 on the hourly chart of EUR/JPY.
    • – Today in Japan, the Nikkei Manufacturing PMI for July 2018 (Prelim) was released.
    • – The outcome was below the market forecast of 53.2 as there was a decline in the PMI to 51.6 from 53.0.

     

    Japan’s Nikkei Manufacturing PMI

    Today in Japan, the Nikkei Manufacturing PMI for July 2018 (Prelim) was released. The market was looking for a rise in the PMI from the last reading of 53.0 to 53.2.

     

    However, the actual result was below the market forecast of 53.2 as there was a decline in the PMI to 51.6 from 53.0. There was a notable decline in the Business confidence. The report added that:

     

    Japan Flash Manufacturing PMI falls to 20-month low of 51.6 in July, from 53.0 in June. Input and output price inflation both accelerate to multi-year highs.

     

    The EUR/JPY pair is currently consolidating near the 130.00 level and upsides remain capped by the 130.50 and 130.60 resistance levels.

     

    EUR/JPY Technical Analysis

    The Euro faced a strong resistance near the 131.90 level against the Japanese Yen. The EUR/JPY pair started a downside move, broke the 131.00 and 130.60 support levels, and settled below the 100 hourly simple moving average.

     

    EUR/JPY Technical Analysis Euro Japanese Yen

     

    The pair even broke the 130.00 handle and traded as low as 129.82. Later, the pair corrected higher and tested the 50% Fib retracement level of the last decline from the 131.04 high to 129.82 low. However, the recovery was capped and the pair dipped back towards 130.00.

     

    On the upside, there is a crucial bearish trend line in place with resistance at 130.55 on the hourly chart of EUR/JPY. The same trend line is near the 61.8% Fib retracement level of the last decline from the 131.04 high to 129.82 low.

     

    Therefore, if the pair corrects higher, it is likely to find sellers near the 130.55 and 130.60 levels. On the downside, a break below 130.00 and 129.85 could push the pair further lower towards the 129.50 and 129.20 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

  • EUR/USD Forecast – Can Euro Break This Vs US Dollar?

    EUR/USD Forecast – Can Euro Break This Vs US Dollar?

    • – The Euro is under pressure and is currently trading below the 1.1700 support against the US Dollar.
    • – There is a key bearish trend line formed with resistance at 1.1660 on the hourly chart of EUR/USD.
    • – Recently in the US, the Philadelphia Fed Manufacturing Index for July 2018 was by the Federal Reserve Bank of Philadelphia.
    • – The outcome was above the market forecast of 22.0 as there was a rise in the index to 25.7.

    US Philadelphia Fed Manufacturing Index

    Recently in the US, the Philadelphia Fed Manufacturing Index for July 2018 was by the Federal Reserve Bank of Philadelphia. The market was looking for a rise from the last reading of 19.9 to 22.0.

     

    The actual result was above the market forecast of 22.0 as there was a rise in the index to 25.7, which was well above the last reading of 19.9. The report added:

     

    All the broad indicators remained positive, with the general activity and new orders indexes improving this month. The survey’s price indexes suggest widespread increases for purchased inputs, and more firms reported price increases for their own manufactured goods.

     

    The EUR/USD pair remained in a bearish zone and is currently attempting a recovery above the 1.1640 level.

     

    EUR/USD Technical Analysis

    The Euro declined heavily this week and traded below the 1.1700 support area against the US Dollar. The EUR/USD pair even broke the 1.1650 and 1.1600 support levels to settle below the 100 hourly simple moving average.

     

    EUR/USD Technical Analysis Euro US Dollar

     

    The pair traded as low as 1.1574 before starting an upside correction. It moved above the 23.6% Fib retracement level of the last drop from the 1.1744 high to 1.1574 low. However, there are many hurdles for buyers near the 1.1660-70 zone.

     

    There is also a key bearish trend line formed with resistance at 1.1660 on the hourly chart of EUR/USD. The trend line is positioned with the 100 hourly SMA and the 50% Fib retracement level of the last drop from the 1.1744 high to 1.1574 low.

     

    Therefore, a proper close above the 1.1660-70 resistance area is needed for more gains in EUR/USD. If the pair fails to move above this, it could decline back towards the 1.1600 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

  • EUR/USD Forecast – Euro Could Extend Losses Vs US Dollar

    EUR/USD Forecast – Euro Could Extend Losses Vs US Dollar

    • – The Euro remained in a bearish zone below the 1.1700 level against the US Dollar.
    • – There is a major bearish trend line formed with resistance at 1.1672 on the hourly chart of EUR/USD.
    • – Recently in the US, the Initial Jobless Claims figure for the week ending July 07, 2018 was released by the US Department of Labor.
    • – The outcome was above the market forecast of 225K as there was a decline in claims from the last revised reading of 232K to 214K.

    US Initial Jobless Claims

    Recently in the US, the Initial Jobless Claims figure for the week ending July 07, 2018 was released by the US Department of Labor. The market was looking for a decline in claims from the last reading of 231K to 225K.

     

    The actual result was above the market forecast of 225K as there was a decline in claims from the last revised reading of 232K to 214K. Considering at the 4-week moving average, there was a decrease of 1,750 to 223,000 from the previous week’s revised average of 224,750.

     

    The EUR/USD pair was under pressure and it seems like there are chances of more losses towards the 1.1620 level in the near term.

     

    EUR/USD Technical Analysis

    The Euro started a major downside move from well above the 1.1740 level against the US Dollar. The EUR/USD pair declined below the 1.1700 and 1.1675 support levels to settle well below the 100 hourly simple moving average.

     

    EUR/USD Technical Analysis Euro US Dollar

     

    The pair traded as low as 1.1649 and later it started an upside correction. It moved above the 23.6% Fib retracement level of the last decline from the 1.1758 high to 1.1649 low. However, the upside move was capped by the 1.1700 resistance.

     

    Moreover, the 38.2% Fib retracement level of the last decline from the 1.1758 high to 1.1649 low also acted as a resistance. Additionally, there is a major bearish trend line formed with resistance at 1.1672 on the hourly chart of EUR/USD.

     

    Therefore, if the pair fails to move above the 1.1675 and 1.1700 resistance levels, there is a risk of a downside break towards the 1.1620 support in the near term. Below 1.1620, the next supports sits at 1.1600.

    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 Could Surged Above 130.00 Vs Japanese Yen

    EUR/JPY Forecast – Euro Could Surged Above 130.00 Vs Japanese Yen

    • – The Euro is trading with a bullish bias and is placed nicely above the 129.50 support against the Japanese Yen.
    • – There is a crucial bullish pattern formed with support at 129.75 on the hourly chart of EUR/JPY.
    • – Today in Japan, the Current Account report for May 2018 was released by the Ministry of Finance.
    • – The outcome was above the market forecast of ¥1,240B as there was a trade surplus of ¥1,938B.

     

    Japan’s Current Account

    Today in Japan, the Current Account report for May 2018 was released by the Ministry of Finance. The market was looking for a trade surplus of around ¥1,240B in May 2018 compared with the last reading of ¥1,845B.

     

    However, the actual result was above the market forecast of ¥1,240B as there was a trade surplus of ¥1,938B. It was also above the last reading of ¥1,845B. Moreover, the Bank lending figure for June 2018 (YoY) was, released by Bank of Japan. It posted an increase of 2.2%, more than the last 2.0%.

     

    The EUR/JPY pair is currently positioned in the bullish zone and it seems like it may continue to move higher above 130.00 and 130.15 in the near term.

     

    EUR/JPY Technical Analysis

    The Euro formed a decent support base above the 128.50 level against the Japanese Yen. The EUR/JPY pair started an upside move, traded above the 129.00 and 129.50 resistance levels, and settled above the 100 hourly simple moving average.

     

    EUR/JPY Technical Analysis Euro Japanese Yen

     

    The pair is currently trading above the 76.4% Fib retracement level of the last decline from the 129.96 high to 129.60 low. It indicates that the pair may perhaps continue to move higher above the 129.96 high in the near term.

     

    The next stop could be the 1.236 Fib extension level of the last decline from the 129.96 high to 129.60 low at 130.04. Above this, the pair could even trade towards the 130.20 level and the 1.618 Fib extension level of the same decline.

     

    Moreover, there is a crucial bullish pattern formed with support at 129.75 on the hourly chart of EUR/JPY. Therefore, dips remain well supported above the 129.75 and 129.60 levels 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/USD Forecast – Euro Eyeing Further Upsides Vs US Dollar

    EUR/USD Forecast – Euro Eyeing Further Upsides Vs US Dollar

    • – The Euro traded higher this week and settled above the 1.1650 resistance against the US Dollar.
    • – There is a key contracting triangle in place with support at 1.1675 on the hourly chart of EUR/USD.
    • – Recently in the US, the Initial Jobless Claims figure for the week ending July 01, 2018 was released by the US Department of Labor.
    • – The outcome was below the market forecast of 225K as there was a rise in claims from the last revised reading of 228K to 231K.

    US Initial Jobless Claims

    Recently in the US, the Initial Jobless Claims figure for the week ending July 01, 2018 was released by the US Department of Labor. The market was looking for a rise in claims from the last reading of 218K to 220K.

     

    The actual result was below the market forecast of 225K as there was a rise in claims from the last revised reading of 228K to 231K. Looking at the 4-week moving average, there was an increase of 2,250 to 224,500 from the previous week’s revised average of 222,250.

     

    The EUR/USD pair remained in a bullish zone and it seems like the pair may continue to trade higher above the 1.1700 level in the near term.

     

    EUR/USD Technical Analysis

    The Euro formed a decent support base below the 1.1620 level and moved higher against the US Dollar. The EUR/USD pair climbed above the 1.1650 and 1.1700 resistance levels to settle above the 100 hourly simple moving average.

     

    EUR/USD Technical Analysis Euro US Dollar

     

    The pair traded as high as 1.1719 before it started a downside correction. It declined and broke the 38.2% Fib retracement level of the last wave from the 1.1630 low to 1.1719 high. However, the decline was protected by the 1.1670-75 support area.

     

    Moreover, the 50% Fib retracement level of the last wave from the 1.1630 low to 1.1719 high also acted as a support. At the moment, it seems like there is a key contracting triangle in place with support at 1.1675 on the hourly chart of EUR/USD.

     

    As long as the pair is holding the 1.1675 support, it remains in a bullish zone and it could continue to move higher above the 1.1700 and 1.1720 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

  • EUR/USD Forecast – Euro Recovering Higher Vs US Dollar

    EUR/USD Forecast – Euro Recovering Higher Vs US Dollar

    • – The Euro bounced back after trading towards the 1.1525 support level against the US Dollar.
    • – There was a break above a key bearish trend line with resistance at 1.1595 on the hourly chart of EUR/USD.
    • – Recently in the US, the Initial Jobless Claims figure for the week ending June 23, 2018 was released by the US Department of Labor.
    • – The outcome was below the market forecast of 220K as there was a rise in claims from 218K to 227K.

    US Initial Jobless Claims

    Recently in the US, the Initial Jobless Claims figure for the week ending June 23, 2018 was released by the US Department of Labor. The market was looking for a rise in claims from the last reading of 218K to 220K.

     

    The actual result was below the market forecast of 220K as there was a rise in claims from 218K to 227K. Looking at the 4-week moving average, there was an increase of 1K to 222,000 from the previous week’s unrevised average of 221,000.

     

    The EUR/USD pair started a recovery today and it moved above a couple of important resistances near the 1.1600 level.

     

    EUR/USD Technical Analysis

    The Euro declined recently from the 1.1720 swing high and broke the 1.1600 support against the US Dollar. The EUR/USD pair even broke the 1.1550 support area and the 100 hourly simple moving average to test the 1.1525 support area.

     

    EUR/USD Technical Analysis Euro US Dollar

     

    The pair traded as low as 1.1526 and later it started a fresh upward correction. It bounced back and moved above the 50% Fib retracement level of the last decline from the 1.1720 high to 1.1526 low. Moreover, there was a break above a key bearish trend line with resistance at 1.1595 on the hourly chart of EUR/USD.

     

    The pair is now trading above the 1.1620 level and is currently facing hurdles near the 1.1650 level and the 61.8% Fib retracement level of the last decline from the 1.1720 high to 1.1526 low.

     

    In the short-term, there could be a downside correction, but the pair is likely to find support around the 1.1620, 1.1600 and 1.1580 levels. Resistances on the upside are at 1.1650 and 1.1675.

    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