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  • NZD/USD Forecast – New Zealand Dollar Eyes Further Gains Vs US Dollar

    NZD/USD Forecast – New Zealand Dollar Eyes Further Gains Vs US Dollar

    • – The New Zealand Dollar is trading nicely and is currently above the 0.7300 level against the US Dollar.
    • – There is a major bullish trend line forming with support at 0.7320 on the hourly chart of the NZDUSD pair.
    • – Today in New Zealand, the NZIER Business Confidence for Q1 2018 was released by the New Zealand Institute of Economic Research.
    • – The outcome was above the market forecast of -12% as the NZIER Business Confidence declined 11%.

     

    New Zealand NZIER Business Confidence

    Today in New Zealand, the NZIER Business Confidence for Q1 2018 was released by the New Zealand Institute of Economic Research. The market was looking for a decline of around 12% in the index in Q1 2018 compared with the previous quarter.

     

    The actual result was above the market forecast of -12% as the NZIER Business Confidence declined 11%. This was also better than the last -12%, but we cannot discard the fact that there was a decline of 11%. The report stated:

     

    The latest NZIER Quarterly Survey of Business Opinion (QSBO) shows businesses continue to expect a deterioration in economic conditions over the coming months. Business confidence had fallen sharply in the December 2017 quarter in the wake of the new Labour-led Government taking office, and this pessimism has carried over into the first quarter of 2018.

     

    The NZD/USD pair was not affected much and it seems like the pair may continue to rise above 0.7320 in the near term.

     

    NZD/USD Technical Analysis

    The New Zealand Dollar started a nice bullish wave from the 0.7250 swing low against the US Dollar. The NZD/USD pair moved higher and it was successful in moving past a major hurdle near 0.7300 and the 100 hourly simple moving average.

     

    The pair even succeeded in breaking the last swing high of 0.7321, which is a positive signs. It means there is a chance of it trading towards the 1.236 Fib extension of the last drop from the 0.7321 high to 0.7242 low.

     

    NZD/USD Technical Analysis New Zealand Dollar US Dollar

     

    At the moment, the pair is correcting lower with an initial support near the 0.7321 level. Moreover, there is a major bullish trend line forming with support at 0.7320 on the hourly chart of the NZDUSD pair. As long as the pair is above the 0.7300 level, it remains supported for more gains.

     

    On the upside, the next hurdles could be 0.7340 and 0.7350. Above 0.7350, the pair may even trade towards the 0.7400 level in the near term.

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  • NZD/USD Forecast – New Zealand Dollar to Rise Further Vs US Dollar?

    NZD/USD Forecast – New Zealand Dollar to Rise Further Vs US Dollar?

    • – The New Zealand Dollar is slowly moving higher and is currently above 0.7250 against the US Dollar.
    • – There is a key bullish trend line forming with support at 0.7250 on the hourly chart of the NZDUSD pair.
    • – Today in New Zealand, the Trade Balance report for Feb 2018 was released by the Statistics New Zealand.
    • – The outcome was above the market forecast of $150M as there was a trade surplus of $217M (MoM).

     

    New Zealand Trade Balance

    Today in New Zealand, the Trade Balance report for Feb 2018 was released by the Statistics New Zealand. The market was looking for a trade surplus of around $150M in Feb 2018 compared with the previous month.

     

    The actual result was above the market forecast of $150M as there was a trade surplus of $217M. In terms of the yearly change, there was a trade deficit of $-3.02B, which was less than the last $-3.28B. The report stated:

     

    Goods exports rose $446 million (11 percent) to $4.5 billion. Goods imports rose $187 million (4.6 percent) to $4.2 billion, a new high for total imports in a February month. The previous high was $4.1 billion, in February 2017.

     

    The NZD/USD pair is currently placed nicely above the 0.7250 support and it looks set for more gains in the near term.

     

    NZD/USD Technical Analysis

    The New Zealand Dollar started a decent upside move from the 0.7200 swing low against the US Dollar. The NZD/USD pair traded higher and succeeded in breaking a couple of important resistance levels such as 0.7220 and 0.7250.

     

    The pair is now trading well above the 0.7200 handle and the 100 hourly simple moving average. It moved above the last swing high of 0.7273 and it looks set to break the 1.236 Fib extension of the last decline from the 0.7273 high to 0.7228 low.

     

    NZD/USD Technical Analysis New Zealand Dollar US Dollar

     

    If buyers remain in action, there is a chance of it breaking the 0.7285 resistance as well. The next hurdle could be the 1.618 Fib extension of the last decline from the 0.7273 high to 0.7228 low at 0.7300.

     

    On the downside, there is a key bullish trend line forming with support at 0.7250 on the hourly chart. Thus, any dips or short-term corrections are likely to find support near 0.7250.

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  • NZD/USD Forecast – New Zealand Dollar In Decent Uptrend Vs US Dollar

    NZD/USD Forecast – New Zealand Dollar In Decent Uptrend Vs US Dollar

    • – The New Zealand Dollar is gaining momentum above 0.7300 against the US Dollar.
    • – There is a major bullish trend line forming with support at 0.7310 on the hourly chart of the NZDUSD pair.
    • – Today in New Zealand, the Gross Domestic Product for Q4 2017 was released by the Statistics New Zealand.
    • – The outcome was below the market forecast of 0.7% as there was a rise of 0.6% in the GDP (QoQ).

     

    New Zealand Gross Domestic Product

    Today in New Zealand, the Gross Domestic Product for Q4 2017 was released by the Statistics New Zealand. The market was looking for a rise of 0.7% in the GDP in Q4 2017 compared with the previous quarter.

     

    The actual result was below the market forecast of 0.7% as there was a rise of 0.6% in the GDP. In terms of the yearly change, there was a rise of 2.9% in the GDP, less than the forecast of 3.1%. The report stated:

     

    Activity in the service industries rose 1.1 percent, with 10 of the 11 service industries recording increases in the December 2017 quarter. Overall growth in the service industries was led by a 2.3 percent increase in business services, particularly computer system design and related services, and advertising, market research, and management services.

     

    The NZD/USD pair is currently remains well supported and it could rise above the 0.7320 level in the near term.

     

    NZD/USD Technical Analysis

    The New Zealand Dollar recently traded above the 0.7320 level against the US Dollar. The NZD/USD pair traded as high as 0.7354 before starting a downside correction. It moved down and broke the 0.7320 support.

     

    However, the downside move was protected by the 0.7300 support and the 100 hourly simple moving average. Moreover, there is a major bullish trend line forming with support at 0.7310 on the hourly chart of the NZDUSD pair.

     

    NZD/USD Technical Analysis New Zealand Dollar US Dollar

     

    The pair is now recovering and is currently trading above the 23.6% Fib retracement level of the last decline from the 0.7354 high to 0.7303 low. However, it must break the 0.7335 resistance and the 61.8% Fib retracement level of the last decline from the 0.7354 high to 0.7303 low to gain momentum.

     

    A break above 0.7335 could push the pair towards 0.7350 and 0.7360. On the downside, the 0.7315 and 0.7310 are important support levels.

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  • NZD/USD Forecast – New Zealand Dollar To Decline Further Vs US Dollar

    NZD/USD Forecast – New Zealand Dollar To Decline Further Vs US Dollar

    • – The New Zealand Dollar started a fresh downside wave from the 0.7345 swing high against the US Dollar.
    • – There is a major bearish trend line forming with resistance at 0.7315 on the hourly chart of the NZDUSD pair.
    • – Today in New Zealand, the Trade balance report for Jan 2018 was released by Statistics New Zealand.
    • – The outcome was below the market forecast of $-2.711B as there was a trade deficit of $-3.220B (YoY).

     

    New Zealand Trade Balance

    Today in New Zealand, the Trade balance report for Jan 2018 was released by Statistics New Zealand. The market was looking for a trade deficit of $-2.711B in Jan 2018 compared with the same month a year ago.

     

    The actual result was below the market forecast of $-2.711B as there was a trade deficit of $-3.220B. This was also above the last deficit of $-2.880B. The report added that:

     

    Goods exports rose $373 million (9.5 percent) to $4.3 billion in January 2018. This was a new high for a January month, exceeding the previous high of $4.1 billion in January 2014. This record follows on from the all-time high of $5.5 billion for December 2017.

     

    The NZD/USD pair seems to be struggling to hold the 0.7270 support and it could decline further in the near term.

     

    NZD/USD Technical Analysis

    The New Zealand Dollar remained under a bearish pressure since the last week, and moved below 0.7380 against the US Dollar. The NZD/USD pair is currently under a lot of pressure and it recently broke the 0.7300 support to settle below the 100 hourly simple moving average.

     

    NZD/USD Technical Analysis New Zealand Dollar US Dollar

     

    The pair is now well below the 76.4% Fib retracement level of the last wave from the 0.7270 low to 0.7344 high. It has opened the doors for more losses and the pair may soon break the 0.7270 low to decline further.

     

    The next stop could be the 1.236 Fib extension of the last wave from the 0.7270 low to 0.7344 high at 0.7252. On the upside, there is a major bearish trend line forming with resistance at 0.7315 on the hourly chart.

     

    Therefore, if the pair starts an upside correction, it is likely to face a lot of sellers around the 0.7300 and 0.7315 levels. On the downside, a break below the 0.7270 support could push the pair towards 0.7250 and 0.7220.

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  • NZD/USD Forecast – New Zealand Dollar to Retest 0.7300 Vs US Dollar

    NZD/USD Forecast – New Zealand Dollar to Retest 0.7300 Vs US Dollar

    • – The New Zealand Dollar traded as high as 0.7436 before starting a downside correction against the US Dollar.
    • – There is a key declining channel forming with resistance at 0.7365 on the hourly chart of the NZDUSD pair.
    • – Today in New Zealand, the Producer Price Index Input figure for Q4 2017 was released by the Statistics New Zealand.
    • – The outcome was above the market forecast of 0.3% as there was a rise of 0.9% in the input PPI (QoQ).

     

    New Zealand Producer Price Index

    Today in New Zealand, the Producer Price Index Input figure for Q4 2017 was released by the Statistics New Zealand. The market was looking for a rise of 0.3% in the PPI Input in Q4 217 compared with the previous quarter.

     

    The actual result was above the market forecast of 0.3% as there was a rise of 0.9% in the input PPI. Moreover, the output index rose 1% in Q4 2017, which was more than the forecast of 0.4%. The report added that:

     

    Output prices for the mining industry increased 9.3 percent, influenced by higher crude oil prices received by gas and oil extraction producers. Input prices paid by petroleum and coal product manufacturers rose 12 percent in the December 2017 quarter, influenced by higher imported crude oil prices.

     

    The NZD/USD pair struggled to move higher and is currently trading below the 0.7370 support and the 100 hourly simple moving average.

     

    NZD/USD Technical Analysis

    The New Zealand Dollar made a nice upside move this past week and traded above the 0.7400 level against the US Dollar. The NZD/USD pair traded as high as 0.7436 where it faced a strong selling interest and started a downside move.

     

    NZD/USD Technical Analysis New Zealand Dollar US Dollar

     

    The pair declined and traded below the 23.6% Fib retracement level of the last wave from the 0.7239 low to 0.7436 high. More importantly, there was a break below the 0.7370 support and the 100 hourly simple moving average.

     

    At the moment, there is a key declining channel forming with resistance at 0.7365 on the hourly chart of the NZDUSD pair. The pair may decline a few more pips in the short term towards the 50% Fib retracement level of the last wave from the 0.7239 low to 0.7436 high.

     

    On the downside, the 0.7300 level is a strong support and a buy zone. On the upside, a break above 0.7370 and the 100 hourly SMA could ignite an upward move.

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  • NZD/USD Forecast – New Zealand Dollar Facing Major Resistance Vs US Dollar

    NZD/USD Forecast – New Zealand Dollar Facing Major Resistance Vs US Dollar

    • – The New Zealand Dollar faced a lot of sellers near the 0.7340-50 resistance against the US Dollar.
    • – There is a major bearish trend line forming with resistance at 0.7350 on the hourly chart of the NZDUSD pair.
    • – Today in New Zealand, the Employment Change report for Q4 2017 was released by the Statistics New Zealand.
    • – The outcome was above the market forecast of 0.2% as there was a change of 0.5%, but less than the last 2.2%.

     

    New Zealand Employment Change

    Today in New Zealand, the Employment Change report for Q4 2017 was released by the Statistics New Zealand. The market was looking for a change of 0.2% in Q4 217 compared with the last change of 2.2%.

     

    The actual result was above the market forecast of 0.2% as there was a change of 0.5%, but less than the last 2.2%. The unemployment rate dropped from the last reading of 4.6% to 4.5%. The report added that:

     

    The unemployment rate for the December 2017 quarter remains considerably above New Zealand’s lowest unemployment rate, which was 3.3 percent, recorded a decade ago in the December 2007 quarter, immediately before the global financial crisis.

     

    The NZD/USD pair failed to move above the 0.7340 and 0.7350 resistance levels, and started a downside move.

     

    NZD/USD Technical Analysis

    The New Zealand Dollar started a fresh upside wave from the 0.7256 low against the US Dollar. The NZD/USD pair traded above the 0.7280 and 0.7300 resistance levels to gain decent upside momentum.

     

    NZD/USD Technical Analysis, New Zealand Dollar US Dollar

     

    The pair even moved above the 38.2% Fib retracement level of the last decline from the 0.7405 high to 0.7256 low. However, the upside move was capped by a major bearish trend line with resistance at 0.7350 on the hourly chart.

     

    Moreover, the 61.8% Fib retracement level of the last decline from the 0.7405 high to 0.7256 low also acted as a resistance and prevented gains above the 0.7350 level. The pair is once again moving lower and is currently trading below the 0.7320 level.

     

    If the pair fails to move higher above the 0.7340 and 0.7350 resistance levels, it remains at a risk of more declines below the 0.7300 level and towards 0.7260.

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  • NZD/USD Forecast – Can New Zealand Dollar Hold 0.7300 Vs US Dollar?

    NZD/USD Forecast – Can New Zealand Dollar Hold 0.7300 Vs US Dollar?

    • – The New Zealand Dollar is slowly moving lower from the 0.7460 swing high against the US Dollar.
    • – There is a crucial bearish trend line forming with resistance at 0.7345 on the hourly chart of the NZDUSD pair.
    • – Today in New Zealand, the Trade Balance report for Dec 2017 was released by the Statistics New Zealand.
    • – The outcome was above the market forecast of $-125M as there was a trade surplus of $640M (MoM).

     

    New Zealand Trade Balance

    Today in New Zealand, the Trade Balance report for Dec 2017 was released by the Statistics New Zealand. The market was looking for a trade deficit of around $-125M in Dec 2017 compared with the previous month.

     

    The actual result was above the market forecast of $-125M as there was a trade surplus of $640M (MoM). Looking at the yearly change, there was a trade deficit of $-2.840B, less than the last revised deficit of $-3.480B. The report added that:

     

    Exports of milk powder, butter, and cheese lifted total exports to a record $5.6 billion in December 2017. Monthly exports were $1.1 billion higher than in December 2016.

     

    The NZD/USD pair must stay above the 0.7300 support area to avoid further declines in the near term towards 0.7280.

     

    NZD/USD Technical Analysis

    The New Zealand Dollar recently traded above the 0.7400 resistance against the US Dollar. The NZD/USD pair traded as high as 0.7435 where it faced a strong resistance and it started a fresh downside wave below the 0.7400 level.

     

    NZD/USD Technical Analysis New Zealand Dollar US Dollar

     

    The pair declined and broke the 0.7360 support and the 100 hourly simple moving average. It recently tested the 0.7300 support and is currently correcting higher. It has moved above the 23.6% Fib retracement level of the last decline from the 0.7374 high to 0.7308 low.

     

    On the upside, there is a crucial bearish trend line forming with resistance at 0.7345 on the hourly chart. The pair has to move above the 0.7350 resistance and the 100 hourly SMA to gain upside momentum.

     

    On the downside, the pair must hold the 0.7300 support to avoid further declines in the near term. A break below 0.7300 could push the pair back toward 0.7260.

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  • NZD/USD Forecast – New Zealand Dollar In Uptrend above 0.7250 Vs US Dollar

    NZD/USD Forecast – New Zealand Dollar In Uptrend above 0.7250 Vs US Dollar

    • – The New Zealand Dollar is currently in an uptrend above the 0.7250 support against the US Dollar.
    • – There is a major bullish trend line forming with support at 0.7255 on the hourly chart of the NZDUSD pair.
    • – Today in New Zealand, the Food Price Index (FPI) for Dec 2017 was released by the Statistics New Zealand.
    • – The outcome was below the market forecast of -0.5% as there was a decline in the index by 0.8% (MoM).

     

    New Zealand Food Price Index

    Today in New Zealand, the Food Price Index (FPI) for Dec 2017 was released by the Statistics New Zealand. The market was looking for the index to decline by around 0.5% in Dec 2017 compared with the previous month.

     

    The actual result was below the market forecast of -0.5% as there was a decline in the index by 0.8%. Looking at the Fruit and vegetable prices, there was a decline of 1.7%, Meat, poultry, and fish prices declined by 0.4%.

     

    Overall, the NZD/USD pair is currently under a short-term correction, but it remains supported above 0.7250.

     

    NZD/USD Technical Analysis

    The New Zealand Dollar made a major bottom near the 0.7140 support area against the US Dollar. The NZD/USD pair started an upside move and moved above the 0.7200 and 0.7250 resistance levels. It also broke the 0.7260 resistance and settled above the 100 hourly simple moving average.

     

    NZD/USD Technical Analysis New Zealand Dollar US Dollar

     

    The pair traded as high as 0.7282 before it started a downside correction. It corrected lower and is currently trading near the 50% Fib retracement level of the last wave from the 0.7235 low to 0.7282 high.

     

    On the downside, there is a major bullish trend line forming with support at 0.7255 on the hourly chart of the NZDUSD pair. The trend line support is around the 61.8% Fib retracement level of the last wave from the 0.7235 low to 0.7282 high.

     

    Overall, it seems like the NZD/USD pair remains in a decent uptrend above the 0.7250 level. On the upside, the pair has to break the 0.7280 resistance to surpass the 0.7300 level in the near term.

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  • NZD/USD Forecast – New Zealand Dollar to Decline Further Vs US Dollar

    NZD/USD Forecast – New Zealand Dollar to Decline Further Vs US Dollar

    • – The New Zealand Dollar struggled to move above the 0.7020 level and moved down against the US Dollar.
    • – There is a descending channel forming with current support at 0.6955 on the hourly chart of the NZDUSD pair.
    • – Today in New Zealand, the Trade balance report for Nov 2017 was released by Statistics New Zealand.
    • – The outcome was below the market forecast of $-2.700B as there was a trade deficit of $-3.444B (YoY).

     

    New Zealand Trade Balance

    Today in New Zealand, the Trade balance report for Nov 2017 was released by Statistics New Zealand. The market was looking for a trade deficit of $-2.700B compared with the same month a year ago.

     

    The actual result was below the market forecast of $-2.700B as there was a trade deficit of $-3.444B. The Imports of goods and services in Nov 2017 came in at $5.82B, better than the forecast of $5.10B. Moreover, the Exports of goods and services in Nov 2017 came in at $4.63B, better than the forecast of $4.61B.

     

    Overall, the NZD/USD pair is currently under a bearish pressure and is struggling to hold the 0.6950-55 support area.

     

    NZD/USD Technical Analysis

    The New Zealand Dollar was seen trading with a positive bias above the 0.7000 level against the US Dollar. However, the NZD/USD pair failed to move above the 0.7030 resistance area and later started a downside move below the 100 hourly simple moving average.

     

    NZD/USD Technical Analysis New Zealand Dollar US Dollar

     

    The pair declined and moved below the 0.7000 and 0.6980 support levels. The decline was protected by the 0.6950 support area and it seems like there is a descending channel forming with current support at 0.6955 on the hourly chart.

     

    The channel support is currently holding losses in NZD/USD below 0.6950. An initial resistance on the upside is around the 23.6% Fib retracement level of the last decline from the 0.7018 high to 0.6956 low. However, the most important resistance is around 0.7000 and the 100 hourly SMA.

     

    Overall, it seems like the NZD/USD pair might correct a few pips higher, but it might struggle to move above the 0.7000 and 0.7020 resistance levels in the near term.

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  • NZD/USD Forecast – New Zealand Dollar Breaks Key Resistance Vs US Dollar

    NZD/USD Forecast – New Zealand Dollar Breaks Key Resistance Vs US Dollar

    • – The New Zealand Dollar made a nice upside move from the 0.6820 swing low against the US Dollar.
    • – There was a break above a key bearish trend line with resistance at 0.6860 on the hourly chart of the NZDUSD pair.
    • – Today in New Zealand, the Electronic Card Retail Sales for Nov 2017 was reported by Statistics New Zealand.
    • – The outcome was above the market forecast of +2.5% as there was an increase of 4.3% in sales (YoY).

     

    New Zealand Electronic Card Retail Sales

    Today in New Zealand, Electronic Card Retail Sales for Nov 2017 was reported by Statistics New Zealand. The market was looking for a rise of around 1% in sales in Nov 2017 compared with the previous month.

     

    The actual result was above the market forecast of +1% as there was an increase of 1.2% in sales (MoM). This was also better than the last revised reading of +0.5%. In terms of the yearly change. There was an increase of 4.3%, which was better than the last +1.3%. The report added that:

     

    Core retail spending (which excludes the vehicle-related industries) rose 0.8 percent in November 2017, after a 0.5 percent rise in October 2017.

     

    Overall, the NZD/USD pair remains in the bullish zone above 0.6860 and is eyeing more gains in the near term.

     

    NZD/USD Technical Analysis

    The New Zealand Dollar after declining towards the 0.6820 level against the US Dollar found support and made a nice upside move. The NZD/USD pair traded above the 0.6850 resistance and managed to settle above the 100 hourly simple moving average.

     

    NZD/USD Technical Analysis New Zealand Dollar US Dollar

     

    During the upside move, there was a break above a key bearish trend line with resistance at 0.6860 on the hourly chart. The pair traded as high as 0.6905 and is currently correcting lower. An initial support is near the 23.6% Fib retracement level of the last wave from the 0.6822 low to 0.6905 high.

     

    However, the most important support is around 0.6860 and the 100 hourly SMA. The mentioned 0.6860 level was a resistance earlier and now it might act as a support. It also coincides with the 50% Fib retracement level of the last wave from the 0.6822 low to 0.6905 high.

     

    Therefore, buying dips in the short term towards 0.6860 might be considered with a stop on a close below the 100 hourly SMA.

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