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

    NZD/USD Forecast – New Zealand Dollar In Downtrend Vs US Dollar

    • – The New Zealand Dollar made a short term top near 0.6940-50 against the US Dollar.
    • – There was a break below a key bullish trend line with support at 0.6880 on the hourly chart of the NZDUSD pair.
    • – Today in New Zealand, the Building Permits report for Oct 2017 was released by the Statistics New Zealand.
    • – The outcome was below the market forecast of -4% as there was a decline in the Building Permits by 9.6%.

     

    New Zealand Building Permits

    Today in New Zealand, the Building Permits report for Oct 2017 was released by the Statistics New Zealand. The market was looking for a decline of 4% in Oct 2017 compared with the previous month.

     

    The actual result was below the market forecast of -4% as there was a decline in the Building Permits by 9.6%. This was also a lot worse than the last revised decrease of 2.5%. The report added that:

     

    The seasonally adjusted number of new homes consented fell 9.6 percent (after a 2.5 percent fall in September). For houses only, the seasonally adjusted number fell 2.9 percent (after a 2.0 percent fall in September). Apartments drove the fall in new homes consented in October.

     

    Overall, the NZD/USD pair might correct a few pips in the near term, but upsides are likely be capped by the 0.6865-0.6880 levels.

     

    NZD/USD Technical Analysis

    The New Zealand Dollar after a decent upside move toward 0.6950 found sellers against the US Dollar. The NZD/USD pair started a downside move, declined below the 0.6900 handle and settled below the 100 hourly simple moving average.

     

    NZD/USD Technical Analysis New Zealand Dollar US Dollar

     

    During the downside move, there was a break below a key bullish trend line with support at 0.6880 on the hourly chart. The pair traded as low as 0.6832 and is currently correcting higher. An initial resistance is around the 23.6% Fib retracement level of the last decline from the 0.6929 high to 0.6832 low.

     

    However, the broken support near 0.6865-0.6880 will most likely act as a major hurdle on the upside. Moreover, the 50% Fib retracement level of the last decline from the 0.6929 high to 0.6832 low is at 0.6880 to act as a resistance.

     

    Overall, if the pair continues to correct higher, then it will most likely face resistances near 0.6865 and 0.6880.

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  • NZD/USD Forecast – New Zealand Dollar Remains Sell on Rallies Vs US Dollar

    NZD/USD Forecast – New Zealand Dollar Remains Sell on Rallies Vs US Dollar

    • – The New Zealand Dollar declined recently and traded below 0.6800 against the US Dollar.
    • – There are two bearish trend lines forming with resistance at 0.6845 on the hourly chart of the NZDUSD pair.
    • – Today in New Zealand, the Food Price Index (FPI) for Oct 2017 was released by the Statistics New Zealand.
    • – The outcome was below the market forecast of -1% as there was a decline in the index by 1.1%.

     

    New Zealand Food Price Index

    Today in New Zealand, the Food Price Index (FPI) for Oct 2017 was released by the Statistics New Zealand. The market was looking for a decline of 1% in Oct 2017 compared with the previous month.

     

    The actual result was below the market forecast of -1% as there was a decline in the index by 1.1%. This was also well above the last decline of 0.2%. The report added that:

     

    Butter prices led the way again – up 62 percent from the same time last year. Milk and cheese prices also increased (up 7.5 and 12 percent respectively) and had large contributions to the increase in food prices seen in the year to October 2017.

     

    Overall, the NZD/USD pair is likely to correct higher in the near term, but it might face sellers near 0.6840-50.

     

    NZD/USD Technical Analysis

    The New Zealand Dollar started a downside move from the 0.6980 resistance against the US Dollar. The NZD/USD pair declined heavily, traded below the 0.6900 and 0.6800 levels, and also settled below the 100 hourly simple moving average.

     

    NZD/USD Technical Analysis New Zealand Dollar US Dollar

     

    The pair traded as low as 0.6780 and it is currently correcting higher. It is trading near the 23.6% Fib retracement level of the last decline from the 0.6882 high to 0.6780 low. On the upside, there are two bearish trend lines forming with resistance at 0.6845 on the hourly chart.

     

    Moreover, the 50% Fib retracement level of the last decline from the 0.6882 high to 0.6780 low near 0.6830 is also a major resistance for buyers in the short term.

     

    Overall, if the pair continues to move higher, then it will most likely face sellers near the 0.7830 and 0.7845 resistance levels.

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  • NZD/USD Forecast – New Zealand Upsides Remain Limited Vs US Dollar

    NZD/USD Forecast – New Zealand Upsides Remain Limited Vs US Dollar

    • – The New Zealand Dollar is under heavy selling pressure and moved below 0.7000 against the US Dollar.
    • – The NZDUSDF pair is currently attempting an upside break above the 0.6900 on the hourly chart.
    • – Today in New Zealand, the Trade Balance report for Sep 2017 was released by the Statistics New Zealand.
    • – The outcome was below the forecast of $-900M, as there was a trade deficit of $-1,143M (MoM).

     

    New Zealand Trade Balance

    Today in New Zealand, the Trade Balance report for Sep 2017 was released by the Statistics New Zealand. The market was looking for a trade deficit of $-900M compared with the previous month.

     

    The actual result was below the forecast of $-900M, as there was a trade deficit of $-1,143M. Looking at the yearly change, the market was looking for a trade deficit of $-2.706B, but it came in at $-2.910B. The report added that:

     

    Milk powder, butter, and cheese exports rose $175 million in September 2017 to reach $791 million, up 28 percent on the same month last year. Overall goods exports rose $313 million (9.0 percent) to $3.8 billion, mainly driven by milk powder, butter, and cheese.

     

    Overall, the NZD/USD pair might continue to face sellers in the near term towards 0.6900 and 0.6920.

     

    NZD/USD Technical Analysis

    The New Zealand Dollar remains in a major downtrend from the 0.7180 swing high against the US Dollar. The NZD/USD pair started a downside wave and broke a few important supports such as 0.7120, 0.7050 and 0.7000.

     

    NZD/USD Technical Analysis New Zealand Dollar US Dollar

     

    The pair even traded below the 0.6940 support and settled below the 100 hourly simple moving average. A low was formed recently at 0.6860 from where the pair is currently attempting an upside correction.

     

    An initial resistance is around the 23.6% Fib retracement level of the last decline from the 0.7003 high to 0.6860 low. At present, it seems like the pair is attempting an upside break above the 0.6900 on the hourly chart. It might fail to gain traction above 0.6920 and the 50% Fib retracement level of the last decline from the 0.7003 high to 0.6860 low.

     

    Overall, the pair remains in a downtrend and remains sell on rallies close to the 0.6920 level in the near term.

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  • NZD/USD Forecast – New Zealand Moved Back In Bullish Zone Vs US Dollar?

    NZD/USD Forecast – New Zealand Moved Back In Bullish Zone Vs US Dollar?

    • – The New Zealand Dollar after consolidating above the 0.7055-60 support against the US Dollar started an upside move.
    • – There was a break above a major bearish trend line with resistance at 0.7075 on the hourly chart of the NZDUSD pair.
    • – Today in New Zealand, the Food Price Index (FPI) for Sep 2017 was released by the Statistics New Zealand.
    • – The outcome was below the forecast of 0.5%, as there was a decline in the index by 0.2% (MoM).

     

    New Zealand Food Price Index

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

     

    The actual result was below the forecast of 0.5%, as there was a decline in the index by 0.2%. It was disappointing compared with the last increase of +0.6%. The report added that:

     

    The average price of $5.39 for a cheapest available 500g block was up 51 cents on July and up $2.07 (62 percent) on August 2016. The annual butter price increase is the largest in percentage terms since 2010.

     

    Overall, the NZD/USD pair might extend the recent gains if buyers are able to push the pair above the 0.7120 resistance.

     

    NZD/USD Technical Analysis

    The New Zealand Dollar after a sharp decline from the 0.7200-0.7210 swing high against the US Dollar found support above 0.70501. The NZD/USD pair consolidated for some time above the 0.7055-60 support before forming a base for an upside move.

     

    NZD/USD Technical Analysis New Zealand Dollar US Dollar

     

    The pair started trading higher and broke a major bearish trend line with resistance at 0.7075 on the hourly chart. Buyers also succeeded in clearing the 100 hourly simple moving average and the 23.6% Fib retracement level of the last decline from the 0.7204 high to 0.7056 low.

     

    At the moment, the pair is trading near a connecting resistance trend line at 0.7115, which is close to the 38.2% Fib retracement level of the last decline from the 0.7204 high to 0.7056 low.

     

    A successful close above the trend line resistance and 0.7120 would open the doors for more gains in the near term, probably towards 0.7150-60.

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