LMFX PAMM


Forex broker List

  • Gold Price Breaks Key Support Near $1,200 Vs US Dollar

    Gold Price Breaks Key Support Near $1,200 Vs US Dollar

    • – Gold price declined recently and broke the $1,200 support area against the US Dollar.
    • – There is a crucial bearish trend line formed with resistance at $1,192 on the hourly chart of gold versus the USD.
    • – Recently in China, the hosing price index for July 2018 was released by the National Bureau of Statistics.
    • – The outcome was above the forecast of +5.5% as there was a rise in the HPI by 5.8%.

    Chinese Housing Price Index

    Recently in China, the hosing price index for July 2018 was released by the National Bureau of Statistics. The market was looking for a rise of 5.5% in the index in July 2018 compared with the last rise of 5%.

     

    The actual result was above the forecast of +5.5% as there was a rise in the HPI by 5.8%. Moreover, in Australia, the Wage Price Index for Q2 2018 was released by the Australian Bureau of Statistics. The outcome was line with the forecast as there was a rise of 0.6% (QoQ).

     

    Gold price is currently under a lot of pressure and it is likely to decline below the $1,185 support level in the near term.

     

    Gold Price Technical Analysis

    Gold price faced a solid resistance near the $1,218-1,220 zone recently against the US Dollar. The price started a major downside move, broke the $1,205 and $1,200 support levels, and also settled below the 100 hourly simple moving average.

     

    Gold Price Technical Analysis

     

    An intermediate low was formed at $1,191 before the price corrected higher. However, it failed to break the $1,200 resistance and declined below the $1,190 support area. It also broke the 1.236 Fib extension level of the last wave from the $1,191 low to $1,198 high.

     

    Therefore, there are chances of more losses below $1,188 in the near term. It could even break the 1.618 Fib extension level of the last wave from the $1,191 low to $1,198 high at $1,187.

     

    On the upside, there is a crucial bearish trend line formed with resistance at $1,192 on the hourly chart of gold versus the USD. Only a break and close above the trend line, followed by a close above $1,200 could open the doors for a recovery.

    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

  • Gold Price Could Break Higher Toward $1,220 Vs US Dollar

    Gold Price Could Break Higher Toward $1,220 Vs US Dollar

    • – Gold price is slowly recovering and is currently trading above $1,205 against the US Dollar.
    • – There is a major bearish trend line in place with resistance at $1,214 on the hourly chart of gold versus the USD.
    • – Recently in China, the Trade Balance report for July 2018 was released by the General Administration of Customs of the People’s Republic of China.
    • – The outcome was below the forecast of $39.33B as there was a trade surplus of $28.05B (YoY).

    Chinese Trade Balance

    Recently in China, the Trade Balance report for July 2018 was released by the General Administration of Customs of the People’s Republic of China. The market was looking for a trade surplus of $39.33B in July 2018 compared with the same month a year ago.

     

    The actual result was below the forecast of $39.33B as there was a trade surplus of $28.05B (YoY). Imports of goods and services in July 2018 increased 20.9% (YoY), more than the forecast of +6.9%. Exports of goods and services in July 2018 increased 12.2% (YoY), more than the forecast of +10.0%.

     

    Gold price is slowly recovering, but it must break the $1,214-1,215 resistance area to gain upside momentum in the near term.

     

    Gold Price Technical Analysis

    After a major dip, gold price formed a decent support near the $1,202 level and recovered against the US Dollar. The price started moving higher, traded above $1,210 and later formed an intermediate low near the $1,207 level.

     

    Gold Price Technical Analysis

     

    The price recently broke the 50% Fib retracement level of the last decline from the $1,216 high to $1,208 low. It is also trading above the 100 hourly simple moving average and $1,210. Therefore, the price may continue to move higher above the $1,212 level in the near term.

     

    However, there is a major bearish trend line in place with resistance at $1,214 on the hourly chart of gold versus the USD. The price must break the trend line resistance and $1,215 to gain upside momentum in the near term.

     

    Above $1,215, the price may perhaps move above towards the $1,220 level. On the flip side, if there is a downside correction, the price will most likely find support near the $1,210 and $1,208 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

  • Gold Price Could Break Above $1,225 Vs US Dollar

    Gold Price Could Break Above $1,225 Vs US Dollar

    • – Gold price is trading above key support levels at $1,220 and $1,218 against the US Dollar.
    • – There is a crucial contracting triangle forming with resistance near $1,223 on the hourly chart of gold versus the USD.
    • – Recently in China, the Manufacturing Purchasing Managers Index (PMI) for July 2018 was released by the China Federation of Logistics and Purchasing (CFLP).
    • – The outcome was below the forecast of 51.3 as there was a decline in the PMI from 51.5 to 51.2.

    Chinese NBS Manufacturing PMI

    Recently in China, the Manufacturing Purchasing Managers Index (PMI) for July 2018 was released by the China Federation of Logistics and Purchasing (CFLP). The market was looking for a decline from the last reading of 51.5 to 51.3.

     

    The actual result was below the forecast of 51.3 as there was a decline in the PMI from 51.5 to 51.2. Looking at the official non-manufacturing PMI, there was a decline from the last reading of 55 to 54, whereas the market was aligned for no change.

     

    Gold price is trading above the $1,220 support and it seems like it could break higher above the $1,225 resistance in the near term.

     

    Gold Price Technical Analysis

    Recently, there was a downside move in gold price from well above the $1,230 level against the US Dollar. The price declined and traded below the $1,225 and $1,222 support levels plus settled below the 100 hourly simple moving average.

     

    Gold Price Technical Analysis

     

    However, losses were protected by the $1,218 support area. The price recovered and an intermediate low was formed at $1,220. At the moment, there is a crucial contracting triangle forming with resistance near $1,223 on the hourly chart of gold versus the USD.

     

    An initial resistance is near $1,222 and the 38.2% Fib retracement level of the last decline from the $1,224 high to $1,220 low. However, the price must break the triangle resistance to gain traction.

     

    Moreover, a break above the 50% Fib retracement level of the last decline from the $1,224 high to $1,220 low could help gold buyers in the near term. Above $1,225, the price could move towards the $1,332 level. On the downside, key supports are at $1,220 and $1,218.

    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

  • Gold Price Could Resume Upside Above $1,260 Vs US Dollar

    Gold Price Could Resume Upside Above $1,260 Vs US Dollar

    • – Gold price traded as high as $1,265 before starting a downside correction against the US Dollar.
    • – There is a major bullish trend line in place with support at $1,255 on the hourly chart of gold versus the USD.
    • – Recently in China, the Consumer Price Index for June 2018 was released by the National Bureau of Statistics of China.
    • – The outcome was below the forecast of 0% as there was a decline in the CPI in June 2018 by 0.1%.

    Chinese CPI

    Recently in China, the Consumer Price Index for June 2018 was released by the National Bureau of Statistics of China. The market was looking for no change in the CPI in June 2018 compared with the previous month.

     

    The actual result was below the forecast of 0% as there was a decline in the CPI in June 2018 by 0.1%. Looking at the yearly change, there was a rise of 1.9% in the CPI, more than the last +1.8%. On the positive side, the Producer Price Index in June 2018 rose 4.7% (YoY), more than the forecast of +4.5%.

     

    Gold price is currently correcting lower, but it remains well supported above the $1,255 and $1,252 levels.

     

    Gold Price Technical Analysis

    There was a decent upside wave in gold price from the $1,251 low against the US Dollar. The price traded higher and broke the $1,258 and $1,260 resistance levels to settle above the 100 hourly simple moving average.

     

    Gold Price Technical Analysis

     

    The price traded as high as $1,265 and later it started a downside correction. It moved down and broke the 38.2% Fib retracement level of the last wave from the $1,251 low to $1,265 high. However, declines were protected by the $1,255-1,256 support zone.

     

    There is also a major bullish trend line in place with support at $1,255 on the hourly chart of gold versus the USD. The same trend line is near the 61.8% Fib retracement level of the last wave from the $1,251 low to $1,265 high.

     

    Therefore, it seems like the price remains well supported above the $1,255 level. A break above the $1,260 level could open the doors for an upside move towards $1,265.

    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

  • Gold Price Accelerating Declines Below $1,245 Vs US Dollar

    Gold Price Accelerating Declines Below $1,245 Vs US Dollar

    • – Gold price declined recently and broke a key support near $1,245 against the US Dollar.
    • – There is a key bearish trend line formed with resistance near the $1,245 level on the hourly chart of gold versus the USD.
    • – Recently in the US, the Institute for Supply Management (ISM) Manufacturing Index for June 2018 was released.
    • – The outcome was above the forecast of 58.4 as there was a rise in the Index to 60.2.

    US Institute for Supply Management (ISM) Manufacturing Index

    Recently in in the US, the Institute for Supply Management (ISM) Manufacturing Index for June 2018 was released. The market was looking for a decline in the index from the last reading of 58.7 to 58.4.

     

    The actual result was above the forecast of 58.4 as there was a rise in the Index to 60.2, which is the 110th consecutive month increase. Moreover, the New Orders Index posted a reading of 63.5, a bit lower than the last reading of 63.7. The report added that:

     

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

     

    Gold price remained in a bearish zone below the $1,245 level and it seems like recoveries in the near term could be capped.

     

    Gold Price Technical Analysis

    After forming a high near the $1,255 level, gold price started a downside move against the US Dollar. The price declined and broke the $1,250 and $1,245 support levels to settle below the 100 hourly simple moving average.

     

    Gold Price Technical Analysis

     

    The price recently traded as low as $1,237.82 and it is currently consolidating losses. An initial resistance is near the 23.6% Fib retracement level of the last decline from the $1,255 high to $1,237 low.

     

    There is also a key bearish trend line formed with resistance near the $1,245 level on the hourly chart of gold versus the USD. The same trend line is near the 50% Fib retracement level of the last decline from the $1,255 high to $1,237 low.

     

    Therefore, if the price corrects higher from the current levels, it is likely to find sellers near the $1,245 and $1,246 levels. On the downside, supports are seen at $1,237, $1,235 and $1,232.

    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

  • Gold Price Approaching Next Break Vs US Dollar

    Gold Price Approaching Next Break Vs US Dollar

    • – Gold price is trading nicely above the $1,300 support level with a positive angle against the US Dollar.
    • – There is a contracting triangle forming with support at $1,300 on the hourly chart of gold versus the USD.
    • – Recently in China, the Manufacturing Purchasing Managers Index (PMI) for May 2018 was released by the China Federation of Logistics and Purchasing (CFLP).
    • – The outcome was above the forecast of 51.3 as there was a rise in the PMI to 51.9.

    China’s Manufacturing Purchasing Managers Index

    Recently in China, the Manufacturing Purchasing Managers Index (PMI) for May 2018 was released by the China Federation of Logistics and Purchasing (CFLP). The market was looking for a decline in the PMI from the last reading of 51.4 to 51.3.

     

    The actual result was above the forecast of 51.3 as there was a rise in the PMI to 51.9. Looking at the official non-manufacturing PMI, the market was looking for no change from the last reading of 54.8. However, the result was positive as there was a rise in the PMI to 54.9.

     

    Gold price is currently trading with a positive bias and it seems like it could break the $1,305 resistance for further gains.

     

    Gold Price Technical Analysis

    After trading towards the $1,292 level, gold price found support against the US Dollar. The price started an upside move and traded above the $1,300 resistance level. There was also a close above $1,300 and the 100 hourly simple moving average.

     

    Gold Price Technical Analysis

     

    The price recently traded towards the $1,305 level where it faced sellers. A high was formed at $1,304 and the price corrected below the 23.6% Fib retracement level of the last wave from the $1,295 low to $1,304 high.

     

    However, the downside move was protected by the $1,300 support and the 100 hourly SMA. Moreover, the 38.2% Fib retracement level of the last wave from the $1,295 low to $1,304 high also acted as a support.

     

    It seems like there is a contracting triangle forming with support at $1,300 on the hourly chart of gold versus the USD. The price may soon make the next move either above $1,305 or below $1,300 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

  • Gold Price Could Correct Lower Vs US Dollar

    Gold Price Could Correct Lower Vs US Dollar

    • – Gold price is currently correcting lower and is trading below the $1,318 support against the US Dollar.
    • – There was a break below a short-term contracting triangle pattern with support at $1,317 on the hourly chart of gold versus the USD.
    • – Recently in China, the Retail Sales report for March 2018 was released by the National Bureau of Statistics of China.
    • – The outcome was below the forecast of +10% as there was a rise in sales by 9.4%.

    China’s Retail Sales

    Recently in China, the Retail Sales report for March 2018 was released by the National Bureau of Statistics of China. The market was looking for a rise in sales by 10% in March 2018 compared with the same month a year ago.

     

    The actual result was below the forecast of +10% as there was a rise in sales by 9.4%. Looking at the Industrial production, there was a rise by 7% in the production, more than the forecast of +6.3%. On the other hand, the Fixed Asset Investment came in at 7%, less than the forecast of 7.4%.

     

    At the moment, Gold price is trading in a bearish zone and it could continue to decline towards the $1,310 and $1,305 support levels.

     

    Gold Price Technical Analysis

    There was a decent upside move above the $1,320 level in gold price against the US Dollar. The price traded as high as $1,325 before starting a downside correction. It declined and traded below the $1,320 support level to start a downside correction.

     

    Gold Price Technical Analysis

     

    The price traded below the 50% Fib retracement level of the last wave from the $1,304 low to $1,325 high. More importantly, there was a break below a short-term contracting triangle pattern with support at $1,317 on the hourly chart of gold versus the USD.

     

    Sellers pushed the price below $1,315 and the 100 hourly simple moving average. It seems like the price may decline further and it could even break the 61.8% Fib retracement level of the last wave from the $1,304 low to $1,325 high.

     

    On the downside, the next major supports are near the $1,310 and $1,305 levels. Below this last, the price could even test the $1,300 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

  • Gold Price Approaching Crucial Break Vs US Dollar

    Gold Price Approaching Crucial Break Vs US Dollar

    • – Gold price is slowly moving higher and is currently trading above the $1,310 support against the US Dollar.
    • – There is a crucial contracting triangle pattern forming with resistance at $1,318 on the hourly chart of gold versus the USD.
    • – Recently in China, the Trade Balance report for April 2018 was released by the General Administration of Customs of the People’s Republic of China.
    • – The outcome was above the forecast of $24.70B as there was a trade surplus of $28.8B.

    China’s Trade Balance

    Recently in China, the Trade Balance report for April 2018 was released by the General Administration of Customs of the People’s Republic of China. The market was looking for a trade balance of $24.70B, compared with the last deficit of $-4.98B.

     

    The actual result was above the forecast of $24.70B as there was a trade surplus of $28.8B. Imports of goods and services in April 2018 increased 21.5%, more than the forecast of +16%. Exports of goods and services in April 2018 increased 12.9%, more than the forecast of +6.3%.

     

    It seems like Gold price may extend gains and it could even break the $1,318 and $1,320 resistance levels for more gains.

     

    Gold Price Technical Analysis

    After trading towards the $1,300 support area, gold price started an upside move against the US Dollar. The price formed a low at $1,301 and started an upside move. It slowly moved higher and broke the $1,305 and $1,310 resistance levels.

     

    Gold Price Technical Analysis

     

    The price also moved above the 50% Fib retracement level of the last decline from the $1,325 high to $1,301 low. Moreover, there was a close above the $1,310 resistance and 100 hourly simple moving average.

     

    At the moment, it seems like there is a crucial contracting triangle pattern forming with resistance at $1,318 on the hourly chart of gold versus the USD. The price may soon make the next move either above $1,318 or below $1,310.

     

    As long as the price is above the 100 hourly SMA, the chances of an upside break above $1,318 are high. The next resistance in the mentioned scenario is around the $1,325 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

  • Gold Price Could Decline Further Below $1,315 Vs US Dollar

    Gold Price Could Decline Further Below $1,315 Vs US Dollar

    • – Gold price started a downside move and declined below the $1,330 support against the US Dollar.
    • – There is a major bearish trend line forming with resistance at $1,325 on the hourly chart of gold versus the USD.
    • – Recently in China, the Manufacturing Purchasing Managers Index (PMI) for April 2018 was released by the China Federation of Logistics and Purchasing (CFLP).
    • – The outcome was above the forecast of 51.3 as the PMI came in at 51.4.

    China’s New Loans

    Recently in China, the Manufacturing Purchasing Managers Index (PMI) for April 2018 was released by the China Federation of Logistics and Purchasing (CFLP). The market was slated for a decline from the last reading of 51.5 to 51.3.

     

    The actual result was above the forecast of 51.3 as the PMI came in at 51.4. Looking at the official non-manufacturing PMI, there was a rise from the last reading of 54.6 to 54.8, whereas the market was looking for a rise to 55.1.

     

    It seems like Gold price remains in a bearish zone and it could even break the recent low of $1,315 to decline further.

     

    Gold Price Technical Analysis

    After trading above the $1,350 level, gold price faced sellers against the US Dollar. The price started a downside move and declined below the $1,350 and $1,330 support levels. There was even a break below the $1,325 support and the 100 hourly simple moving average.

     

    Gold Price Technical Analysis

     

    The price traded as low as $1,315 before starting an upside correction. It traded higher and moved above the 23.6% Fib retracement level of the last decline from the $1,332 high to $1,315 low.

     

    However, the price is facing hurdles near the $1,325 resistance. Moreover, the 61.8% Fib retracement level of the last decline from the $1,332 high to $1,315 low acted as a resistance. There is also a major bearish trend line forming with resistance at $1,325 on the hourly chart of gold versus the USD.

     

    At the moment, the price is trading with a bearish angle below $1,325 and the 100 hourly SMA. On the downside, a break below $1,315 may perhaps call for further losses towards the $1,300 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

  • Gold Price Remains Supported above $1,338 Vs US Dollar

    Gold Price Remains Supported above $1,338 Vs US Dollar

    • – Gold price corrected lower recently after trading as high as $1,365 against the US Dollar.
    • – There is a key bullish trend line forming with support at $1,338 on the hourly chart of gold versus the USD.
    • – Recently in China, the new loans report for March 2018 was released by People’s Bank of China.
    • – The outcome was below the forecast of 1,200.0B as the new loans figure came in at 1,120.0B.

    China’s New Loans

    Recently in China, the new loans report for March 2018 was released by People’s Bank of China. The market was slated for a reading of 1,120.0B compared with the last reading of 839.3B.

     

    The actual result was below the forecast of 1,200.0B as the new loans figure came in at 1,120.0B. However, the result was positive when compared with the last reading of 839.3B. The M2 Money Supply in March 2018 rose 8.2% (YoY), which was less than the forecast of +8.9% and also less than the last +8.8%.

     

    Gold price may consolidate in the short term before it makes the next move above the $1,350 level in the near term.

     

    Gold Price Technical Analysis

    There was a decent upside move in gold price this past week as it moved above the $1,360 level against the US Dollar. The price traded as high as $1,365 before a downside correction was initiated. It declined and traded below the $1,350 level.

     

    Gold Price Technical Analysis

     

    There was even a spike down below the 100 hourly simple moving average, but the downside move was contained by the $1,332 support. There is also a key bullish trend line forming with current support at $1,338 on the hourly chart of gold versus the USD.

     

    The price is now back above the 100 hourly SMA and broke the 38.2% Fib retracement level of the last decline from the $1,365 high to $1,333 low. Buyers need to gather pace above $1,350 and the 50% Fib retracement level of the last decline from the $1,365 high to $1,333 low for further gains.

     

    On the downside, the price remains supported above the $1,338 level. A close below $1,338 and $1,335 may open the doors for more losses.

    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