LMFX PAMM


Forex broker List

  • 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.

    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 Downside Pressure Increases Vs US Dollar

    EUR/USD Forecast – Euro Downside Pressure Increases Vs US Dollar

    • – The Euro is under a lot of pressure and is currently well below 1.1820 against the US Dollar.
    • – There is a declining channel forming with resistance at 1.1800 on the hourly chart of EUR/USD.
    • – Recently in China, the Trade Balance report for Nov 2017 was released by the General Administration of Customs of the People’s Republic of China.
    • – The outcome was above the forecast of $35.0B as there was a trade surplus of $40.21B.

    China’s Trade Balance

    Recently China, the Trade Balance report for Nov 2017 was released by the General Administration of Customs of the People’s Republic of China. The market was looking for a trade surplus of around $35.0B in Nov 2017.

     

    The actual result was above the forecast of $35.0B as there was a trade surplus of $40.21B, which was also better than the last revised surplus of $38.19B. Exports of goods and services in Nov 2017 were up by 10.3%, more than the last +6.1%. Imports of goods and services in Nov 2017 were up by 15.6%, more than the last +15.9%.

     

    The EUR/USD pair failed to take advantage and the risk sentiment is still favoring the greenback for more gains in the near term.

     

    EUR/USD Technical Analysis

    The Euro started a new downside leg after failing to settle above the 1.1900 and 1.1920 levels against the US Dollar. The EUR/USD pair moved down below the 1.1840 and 1.1820 support levels to settle below the 100 hourly simple moving average.

     

    EUR/USD Technical Analysis Euro US Dollar

     

    The pair recently traded as low as 1.1761 and it seems like it is following a declining channel with resistance at 1.1800 on the hourly chart. A minor correction is underway and the pair is heading towards the 23.6% Fib retracement level of the last drop from the 1.1814 high to 1.1761 low.

     

    However, the most important resistance is around the 1.1800 level and the 50% Fib retracement level of the last drop from the 1.1814 high to 1.1761 low. It seems like a break above the channel resistance and 1.1820 won’t be easy for the Euro.

     

    As long as the pair is below 1.1820, it remains in a downtrend towards the next support at 1.1720 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

  • USD/JPY Forecast – US Dollar Approaching Crucial Break Vs Japanese Yen

    USD/JPY Forecast – US Dollar Approaching Crucial Break Vs Japanese Yen

    • – The US Dollar is moving higher from 112.00 and is approaching a major break against the Japanese Yen.
    • – There is a monster contracting triangle forming with resistance at 112.50 on the hourly chart of the USD/JPY pair.
    • – Today in Japan, the Foreign investment in Japan stocks (Dec 1, 2017) was released by Ministry of Finance.
    • – The outcome was around the market forecast, as the Foreign investment in Japan stocks were ¥-167.1B.

     

    Japan’s Foreign Investment in Japan Stocks

    Today in Japan, the Foreign investment in Japan stocks (Dec 1, 2017) was released by Ministry of Finance. The market was positioned for the Foreign investment in Japan stocks to be around ¥-160.0B compared with the last ¥-155.2B.

     

    The outcome was around the market forecast, as the Foreign investment in Japan stocks were ¥-167.1B. The last reading was revised from ¥-155.2B to ¥-155.3B. Looking at the Foreign bond investment, it came in at ¥-208.1B, compared with the last revised reading of ¥138.0B.

     

    The USD/JPY pair is preparing for the next move, and it might soon break either 112.50 or move below 112.10.

     

    USD/JPY Technical Analysis

    The US Dollar made a nice upside move and traded above the 113.00 level against the Japanese yen. The USD/JPY pair traded as high as 113.08 and later started a downside correction. The stated correction was such that the pair moved a few pips below the 112.00 support.

     

    USD/JPY Technical Analysis US Dollar Japanese Yen

     

    A low as formed near 111.98 and the pair started moving higher. It has already traded above the 38.2% Fib retracement level of the last decline from the 112.86 high to 111.98 low. However, the 100 hourly simple moving average is protecting gains near 112.50.

     

    It seems like there is a monster contracting triangle forming with resistance at 112.50 on the hourly chart. On the downside, the triangle support is at 112.10. Therefore, we might soon witness a break either above 112.50 or below 112.10 in the near term.

     

    The current market sentiment is positive for USD/JPY, but it won’t be easy for buyers to break 112.50, triangle, 100 hourly SMA and the 61.8% Fib retracement level of the last decline from the 112.86 high to 111.98 low.

    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

  • GBP/USD Forecast – British Pound Correcting Lower Vs US Dollar

    GBP/USD Forecast – British Pound Correcting Lower Vs US Dollar

    • – The British Pound started a downside move after trading as high as 1.3540 against the US Dollar.
    • – There is a major expanding triangle forming with resistance near 1.3490 on the hourly chart of the GBP/USD pair.
    • – Recently in the US, the ISM Non-Manufacturing Index for Nov 2017 was released by the Institute for Supply Management (ISM).
    • – The outcome was below the forecast of 59.0 as there was a decline in index from 60.1 to 57.4.

     

    US ISM Non-Manufacturing Index

    Recently in the US, the ISM Non-Manufacturing Index for Nov 2017 was released by the Institute for Supply Management (ISM). The market was positioned for a decline in the index from the last reading of 60.1 to 59.0 in Nov 2017.

     

    The actual result was below the forecast of 59.0 as there was a decline in index from 60.1 to 57.4. Moreover, the Non-Manufacturing Business Activity Index was down by 0.8% to 61.4% from the October reading of 62.2%. The report added that:

     

    The New Orders Index registered 58.7 percent, 4.1 percentage points lower than the reading of 62.8 percent in October. The Employment Index decreased 2.2 percentage points in November to 55.3 percent from the October reading of 57.5 percent.

     

    Overall, the result was mixed, but failed to help GBP/USD, and the pair might continue to decline towards 1.3350 in the near term.

     

    GBP/USD Technical Analysis

    The British Pound had a good bullish run above the 1.3400 handle against the US Dollar. The GBP/USD pair popped higher and broke a few important resistance levels such as 1.3480, 1.3500 and the 100 hourly simple moving average.

     

    GBP/USD Technical Analysis British Pound US Dollar

     

    The pair traded as high as 1.3548 and later a downside correction was initiated. It is slowly moving lower and already broke the 1.3500 and 1.3480 support levels. It also cleared the 100 hourly SMA and the 1.3450 pivot area.

     

    It seems like the pair is following a major expanding triangle with resistance near 1.3490 on the hourly chart. An initial resistance on the upside is around the 1.3475 level and the 100 hourly SMA. It also coincides with the 61.8 % Fib retracement level of the last decline from the 1.3538 high to 1.3370 low.

     

    Overall, the GBP/USD pair is under pressure in the short term and it could even break the 1.3400 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 in Trouble below $1280 Vs US Dollar

    Gold Price in Trouble below $1280 Vs US Dollar

    • – Gold price is currently under a bearish pressure below the $1280 resistance against the US Dollar.
    • – There is a major bearish trend line forming with resistance near $1278-1280 on the hourly chart of gold versus the USD.
    • – Recently in China, the Caixin Services PMI for Nov 2017 was released.
    • – The outcome was above the forecast of 51.5 as there was a rise in the PMI from 51.2 to 51.9.

     

    Caixin China Services PMI

    Recently in China, the Caixin Services PMI for Nov 2017 was released. The market was positioned for a rise in the PMI from the last reading of 51.2 to 51.5.

     

    The actual result was above the forecast of 51.5 as there was a rise in the PMI from 51.2 to 51.9. Moreover, the Composite Output index increased from the last reading of 51.0 to 51.6. The report stated:

     

    Data broken down by sector indicated that business activity growth improved across both the manufacturing and service sectors during November. In the manufacturing sector, the pace of increase picked up from October’s four-month low, but remained moderate overall.

     

    Overall, the result was positive, but gold price is struggling to hold the $1270-1272 support area.

     

    Gold Price Technical Analysis

    There was a slow and steady decline in Gold price from the $1295-1296 swing high against the US Dollar. The price declined below a couple of important support levels such as $1288, $1282 and $1280 to settle below the 100 hourly simple moving average.

     

    Gold Price Technical Analysis

     

    There was even a break below the $1275 level and the price traded as low as $127096. At the moment, the price is consolidating above the $1270 level with an initial resistance around the 38.2% Fib retracement level of the last decline from the $1289.16 high to $1270.96 low.

     

    Moreover, there is a major bearish trend line forming with resistance near $1278-1280 on the hourly chart of gold versus the USD. The trend line resistance is near the 100 hourly SMA and the 50% Fib retracement level of the last decline from the $1289.16 high to $1270.96 low.

     

    Therefore, it won’t be easy for buyers to break the $1280 resistance and gain strength above the 100 hourly SMA. On the downside, a break below $1270 could ignite more declines 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

  • AUD/USD Forecast – Aussie Dollar to Bounce Back Above 0.7620 Vs US Dollar

    AUD/USD Forecast – Aussie Dollar to Bounce Back Above 0.7620 Vs US Dollar

    • – The Aussie Dollar is trading nicely above the 0.7580 support against the US Dollar.
    • – There is a key bullish trend line forming with support near 0.7585 on the hourly chart of AUD/USD.
    • – Recently in Australia, the TD Securities Inflation report for Nov 2017 was released by The University of Melbourne – Faculty of Economics and Commerce.
    • – The outcome was above the forecast of +0.1% as there was an increase of 0.2% in the inflation in Nov 2017.

    Australia’s TD Securities Inflation

    Recently in Australia, the TD Securities Inflation report for Nov 2017 was released by The University of Melbourne – Faculty of Economics and Commerce. The market was positioned for a rise of 0.1% in the TD Securities Inflation compared with the previous month.

     

    The actual result was above the forecast of +0.1% as there was an increase of 0.2% in the inflation in Nov 2017, but it was less than the last +0.3%. In terms of the yearly change, the TD Securities Inflation posted a rise of 2.7%, which was more than the last +2.6%. The report added that:

     

    Overall, the AUD/USD pair remains supported on the downside as long as it is above the 0.7580 support area.

     

    AUD/USD Technical Analysis

    The Aussie Dollar started a nice upside move after consolidating around the 0.7550 support for some time against the US Dollar. The AUD/USD pair broke a few important resistance levels such as 0.7580 and 0.7600 to settle above the 100 hourly simple moving average.

     

    AUD/USD Technical Analysis Aussie Dollar US Dollar

     

    During the upside, the pair broke two bearish trend lines at 0.7565 on the hourly chart. It traded as high as 0.7638 from where it started a downside correction. It moved below the 50% Fib retracement level of the last wave from the 0.7550 low to 0.7638 high.

     

    However, the downside move was protected by the 0.7580 support, the 100 hourly simple moving average and the 61.8% Fib retracement level of the last wave from the 0.7550 low to 0.7638 high. There is also a key bullish trend line forming with support near 0.7585 on the hourly chart.

     

    Therefore, AUD/USD remains supported above 0.7580 and it might soon bounce back above 0.7600-0.7620 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 Eyes an Upside Break Vs US Dollar?

    EUR/USD Forecast – Euro Eyes an Upside Break Vs US Dollar?

    • – The Euro remains in a bullish zone above the 1.1840 support against the US Dollar.
    • – There was a break above a short-term bearish trend line at 1.1860 on the hourly chart of EUR/USD.
    • – Recently in the US, the Chicago Purchasing Managers Index for Nov 2017 was released by ISM-Chicago, Inc.
    • – The outcome was above the forecast of 63.0 as the index came in at 63.9.

     

    Chicago Purchasing Managers Index

    Recently in the US, the Chicago Purchasing Managers Index for Nov 2017 was released by ISM-Chicago, Inc. The market was positioned for a decline in the index from 66.2 to 63.0 in Nov 2017.

     

    The actual result was above the forecast of 63.0 as the index came in at 63.9. However, we cannot ignore the fact that there was a decline from the last reading of 66.2 to 63.9. The report added:

     

    Despite receding from October’s six-and-a-half year high, optimism among businesses recorded the fourth highest outturn this year. The Barometer has expanded for 21 straight months and is poised to see out 2017 in solid fashion.

     

    The EUR/USD pair might continue to move higher and it could soon break 1.1940 for more gains in the near term.

     

    EUR/USD Technical Analysis

    The Euro made a nice upside move from the 1.1808 swing low against the US Dollar. The EUR/USD pair was seen consolidating above the 1.1800 handle for some time before buyers stepped in and pushed the pair above the 1.1840 level and the 100 hourly simple moving average.

     

    EUR/USD Technical Analysis Euro US Dollar

     

    During the upside move, there was a break above a short-term bearish trend line at 1.1860 on the hourly chart. The pair tested another bearish trend line at 1.1930 and is currently consolidating gains below the same trend line.

     

    On the downside, there is a decent support near the 38.2% Fib retracement level of the last wave from the 1.1808 low to 1.1936 high. A break above the trend line resistance is needed for buyers to take the pair towards 1.1960-70 in the near term.

     

    Should there be any correction from the current levels, the pair might find support near 1.1880 and the 100 hourly simple moving average.

    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

  • 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.

    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

  • GBP/USD Forecast – British Pound Remains in Uptrend above 1.3330 Vs US Dollar

    GBP/USD Forecast – British Pound Remains in Uptrend above 1.3330 Vs US Dollar

    • – The British Pound is back in the bullish zone above the 1.3330 support against the US Dollar.
    • – There is a crucial connecting trend line forming with resistance at 1.3390 on the hourly chart of the GBP/USD pair.
    • – Recently in the UK, the British Retail Consortium (BRC) Shop Price Index for Nov 2017 was released.
    • – The outcome was around the forecast as there was a decline in index by 0.1% in Nov 2017.

     

    British Retail Consortium (BRC) Shop Price Index

    Recently in the UK, the British Retail Consortium (BRC) Shop Price Index for Nov 2017 was released. The market was positioned for a decline of 0.1% in the index in Nov 2017, similar to the last reading.

     

    The actual result was around the forecast as there was a decline in index by 0.1% in Nov 2017. Commenting on the same, the Chief Executive, British Retail Consortium, Helen Dickinson OBE, stated:

     

    For the third consecutive month shop price inflation remained static, still teetering on the edge of a return to inflationary territory. November now marks the 55th consecutive month of deflation with the current rate the shallowest in the last four years.

     

    Overall, the GBP/USD pair may continue to move higher and it could even break 1.3400 for more gains in the near term.

     

    GBP/USD Technical Analysis

    The British Pound made good ground recently and settled above 1.3300 and 1.3330 against the US Dollar. The GBP/USD pair declined sharply recently and traded close to the 1.3220 support where buyers appeared and pushed the pair back above 1.3300 and the 100 hourly simple moving average.

     

    GBP/USD Technical Analysis British Pound US Dollar

     

    The pair traded as high as 1.3385 and is currently consolidating gains. An initial support on the downside is around the 23.6% Fib retracement level of the last wave from the 1.3220 low to 1.3385 high at 1.3345. Below 1.3345, the next major support is around 1.3330.

     

    Further to the downside, the 38.2% Fib retracement level of the last wave from the 1.3220 low to 1.3385 high at 1.3345 is at 1.3322 along with the 100 hourly simple moving average to act as a buy zone.

     

    On the upside, there is a crucial connecting trend line forming with resistance at 1.3390 on the hourly chart. A break above the 1.3390-1.3400 would open the doors for more gains in the short 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

  • USD/JPY Forecast – US Dollar To Retest 111.00 Vs Japanese Yen?

    USD/JPY Forecast – US Dollar To Retest 111.00 Vs Japanese Yen?

    • – The US Dollar is trading lower and remains well below the 111.80-112.00 resistance against the Japanese Yen.
    • – There is a crucial bearish trend line forming with resistance at 111.80 on the hourly chart of the USD/JPY pair.
    • – Today in Japan, the Corporate Service Price Index (CSPI) for Sep 2017 was released by the Bank of Japan.
    • – The outcome was around the market forecast, as there was a rise of 0.8% in the index in Sep 2017 (YoY).

     

    Japan’s Corporate Service Price Index

    Today in Japan, the Corporate Service Price Index (CSPI) for Sep 2017 was released by the Bank of Japan. The market was positioned for the index to increase by 0.8% in Sep 2017 compared with the same month a year ago.

     

    The outcome was around the market forecast, as there was a rise of 0.8% in the index in Sep 2017. However, this was a lit lower than the previous increase of 0.9%. Looking at the Services Producer Price Index for all items excluding International transportation, there was a rise of 0.7% in Sep 2017 compared with the same month a year ago.

     

    The USD/JPY pair is currently under pressure and it is likely to continue moving down towards the last swing low of 111.06.

     

    USD/JPY Technical Analysis

    The US Dollar started a major downside move from the 112.70 swing high against the Japanese yen. The USD/JPY pair traded below a couple of important support levels such as 112.20 and 111.80. It traded as low as 111.06 from where a recovery was initiated.

     

    USD/JPY Technical Analysis US Dollar Japanese Yen

     

    The pair traded above the 23.6% Fib retracement level of the last decline from the 112.71 high to 111.06 low. However, the upside move is facing many resistances on the upside around the 111.60 and 111.80 levels along with the 100 hourly simple moving average.

     

    The 38.2% Fib retracement level of the last decline from the 112.71 high to 111.06 low acted as a hurdle recently. There is also a crucial bearish trend line forming with resistance at 111.80 on the hourly chart.

     

    Therefore, any major upsides might face sellers near the 111.80 and 112.00 levels in the near term. On the downside, the recent low of 111.06 could be tested followed by 111.00.

    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 Traders Welcome  Make the trade