Christmas break: We will leave for Christmas vacation from December 23 until January 2. During this period we will not provide our signal service. The service will be resumed on January 3.
The MaiMarFX team wishes all of you a merry Christmas and a happy New Year!
Dear Traders,
There were no profitable movements on Tuesday with many investors being already on vacation shortly before the Christmas break. As recommended, we have adjusted our risk management to the quiet market conditions during the last trading days of 2016 and did not reinvest any major gains.
EUR/USD: The euro dropped below 1.0365 on continued dollar strength but found a new support at 1.0350 as bearish momentum is decreasing. Amidst a quiet market environment we now expect the euro to trade consolidated between 1.0480 on the upside and 1.0350 on the downside. A break above 1.0480 may drive the pair for a test of 1.05 and 1.0530, whereas a break below 1.0340 may lead to further losses toward 1.03.
GBP/USD: The current support at 1.23 remains firmly intact. With no market-moving data on the docket we anticipate the cable’s price action to be limited to a 200-pip range in short-term time frames. Potential upward movements might be limited to the 1.25/1.2550-resistance area while a downswing could be limited to 1.2280.
U.S. Existing Home Sales are scheduled for release at 15:00 UTC but this report is not expected to have a significant impact on the greenback.
Daily Forex signals:
Additional daily and long-term entries are available for subscribers.
View our daily signal alerts https://www.maimar.co/category/daily-signals/
Subscribe to our daily signal service https://www.maimar.co/signals/
We wish you good trades and many pips!
Any and all liability of the author is excluded.
Copyright © All Rights Reserved 2016 Maimar-FX.
Dear Traders,
Shortly before Christmas the mood changed from pleasure to shock and grief following Monday’s multiple terrorist attacks such as the Christmas market tragedy in Berlin, which was probably a terror attack, a shooting near the Islamic center in Zurich and the assassination of Russia’s ambassador to Turkey. The killing of Russia’s ambassador Andrey Karlov and the deadly truck attack at a Berlin Christmas market, killing 12 people added to geopolitical uncertainty and caused financial market turmoil on Monday.
Meanwhile, the U.S. dollar received a boost from Federal Reserve Chair Janet Yellen as she expressed in her speech at the University of Baltimore her optimism about the developments in the current U.S. labor market. She said that the job market is the strongest in nearly a decade and that it contributes to higher wages. All in all, dollar bulls had every reason to buy the dollar on dips, which is why a potential pullback still appears to be some way off.
EUR/USD
Double bottom or short-term support?
The euro tagged a fresh low at 1.0366 and once this level is breached to the downside, we could see the euro tumbling towards 1.03 and 1.0250. On the other hand, if the euro is able to hold above the 1.0365-level we will shift our focus to the 1.0480-mark which is seen as a current resistance in this pair. Above 1.0480 the double-bottom pattern will be played out, suggesting that the euro is headed for higher prices at 1.0530 and 1.0560.
GBP/USD
The descending triangle points to further losses. As mentioned in previous analysis we see a current support area between 1.2350 and 1.23. Furthermore, a descending trend line at 1.2340 marks the lower bound of the current trend channel so if the pound falls below 1.2340 and further 1.23, we expect accelerated bearish momentum sending the pound lower towards 1.2130.
There are no major economic reports scheduled for release today so the price development could be subdued.
Daily Forex signals:
Additional daily and long-term entries are available for subscribers.
View our daily signal alerts https://www.maimar.co/category/daily-signals/
Subscribe to our daily signal service https://www.maimar.co/signals/
We wish you good trades and many pips!
Any and all liability of the author is excluded.
Copyright © All Rights Reserved 2016 Maimar-FX.
Dear Traders,
We are entering the final trading period of this year while financial markets are gradually becoming quiet.
Now that top-tier event risk is largely exhausted for the remaining trading days of 2016 we saw some corrective price action last Friday with some profit taking in the U.S. dollar. Nonetheless, there was nothing to be gained for us as currency fluctuations have been modest given the year-end liquidity drain. We recommend securing your monthly and annual profits now and trading at a low risk in the pre-holiday period.
From a technical perspective there is the possibility of further corrective movements in the dollar on the back of profit taking, driving the euro towards 1.0530 while the cable may tend to test the 1.2550-resistance level. Above 1.2570 the pound sterling may head for a test of 1.2650/80. A current support is however seen at around 1.2425.
The euro traded consolidated at around 1.0450 and if it holds above 1.0420 we may see a run for 1.0530. Below 1.04 however, we favor a bearish bias targeting at 1.03.
However we do not expect exaggerated movements within the next days and will take potential profits at smaller targets. The economic calendar is very light in terms of market moving data. The most interesting piece of data could be U.S. Durable Goods Orders alongside the final estimate of third-quarter GDP (Thursday), while the German IFO report scheduled for release today at 9:00 UTC could be worth watching for euro traders.
Furthermore, Fed Chair Janet Yellen speaks on the state of the job market today at 18:30 UTC.
Daily Forex signals:
Additional daily and long-term entries are available for subscribers.
View our daily signal alerts https://www.maimar.co/category/daily-signals/
Subscribe to our daily signal service https://www.maimar.co/signals/
We wish you good trades and many pips!
Any and all liability of the author is excluded.
Copyright © All Rights Reserved 2016 Maimar-FX.
Dear Traders,
It seems that everyone is jumping into buying U.S. dollars before year-end as this trade appears to be relatively risk-free at the moment. Amidst a strong market environment the dollar rallied to its strongest level since 2003 against the euro while the British pound dropped below 1.24 after the Bank of England’s monetary policy statement flagged global risks. As expected, BoE policymakers kept monetary policy unchanged, indicating that the outlook for the global economy has darkened amid renewed strains from rising interest rates and a strong dollar.
The U.S. dollar is on the rise, so which are the next important price levels to pay attention to?
EUR/USD
The euro broke below its crucial support at 1.0470. Given the strong downtrend we should generally expect further losses towards 1.01 and possibly also a drop towards parity but this move may not happen this year. In view of the fact the price developments are never straight-lined, we must also prepare for potential pullbacks. With this in mind, we see a next resistance at around 1.05 – the former support area in the euro. Above 1.0570 however, prices may consolidate towards 1.0670.
GBP/USD
The pound sterling faces a next support zone ranging from 1.2350 to 1.23. In case of a break below 1.2270 the pound may tumble towards lower targets at 1.2150 and 1.21. If the cable, however, is able to hold above that support area we may see a renewed test of 1.2520 and 1.2660.
There are no major economic reports scheduled for release today. Eurozone Consumer Prices due at 10:00 UTC should be of secondary importance as no changes are expected. From the U.S. we only have Housing Starts scheduled for release at 13:30 UTC but this report is unlikely to affect the USD.
We hope that you were able to take some profits this week and wish you a relaxing pre-Christmas weekend.
Daily Forex signals:
Additional daily and long-term entries are available for subscribers.
View our daily signal alerts https://www.maimar.co/category/daily-signals/
Subscribe to our daily signal service https://www.maimar.co/signals/
We wish you good trades and many pips!
Any and all liability of the author is excluded.
Copyright © All Rights Reserved 2016 Maimar-FX.
Dear Traders,
The Federal Reserve delivered a slightly hawkish rate hike with Fed officials expecting three quarter-point rate increases in 2017, up from the two seen in previous forecasts. The Fed’s projections for growth, unemployment and inflation over the next three years were largely unchanged from September. With regard to fiscal policy the FOMC statement did not include language referring to changes in fiscal policy. When asked about how Trump’s fiscal policy plans influenced the Fed’s forecasts and could affect future decisions, Yellen said it was too early to judge how fiscal policy would affect Fed policy.
All in all, yesterday’s FOMC statement had a positive impact on the U.S. dollar even if the risk of a pullback in the greenback persists.
EUR/USD: After having tested the 1.0470/60-support we may see some corrections before year-end. It might be tempting to sell the pair in case of a break of 1.0460 but traders should be careful as liquidity traditionally dries out before the Christmas holiday season.
Yesterday’s trading has been somewhat challenging especially for traders who have not had a proper risk management during the day. An appropriate risk-management is therefore essential for the long-term success.
GBP/USD: The cable broke below its recent upward trend channel but it was able to hold above 1.25.
Today’ focus shifts to the Bank of England and its monetary policy announcement at 12:00 UTC. We prepare for volatile swings in the GBP/USD and hope for some profitable movements. No changes are expected but it will be the central bank’s rhetoric which should have a major impact on the pound.
From the U.S. we have the Consumer Price report scheduled for release at 13:30 UTC, which could affect the price action in the greenback.
Daily Forex signals:
Additional daily and long-term entries are available for subscribers.
View our daily signal alerts https://www.maimar.co/category/daily-signals/
Subscribe to our daily signal service https://www.maimar.co/signals/
We wish you good trades and many pips!
Any and all liability of the author is excluded.
Copyright © All Rights Reserved 2016 Maimar-FX.
Dear Traders,
The U.S. dollar weakened against most major currencies on Monday. Ahead of Wednesday’s Federal Reserve statement investors are concerned that US-policymakers were to flag the risk of a strengthening dollar on the U.S. economy, suggesting that the dollar rally has gone too far. Most of the dollar gains have come about as a result of expectations that Trump will enact policies that increase spending as well as spur growth and inflation. It remains to be seen how the political program will look like during Trump’s term as president while the details of an eventual fiscal-spending program are still written in the stars.
The euro tested the 1.0650-level and our yesterday’s long-entry has proved successful. We will now wait for the euro to overcome the 1.0665-barrier in order to focus at higher targets at 1.0710 and 08. On the bottom side, the 1.0470-support remains intact. Euro traders should keep an eye on the ZEW Survey, due for release at 10:00 UTC. The euro might tend to strengthen ahead of that report.
Particular attention will be paid to the British pound and the U.K. Consumer Price report scheduled for release at 9:30 UTC. CPI data is expected to show an uptick in November which is why the pound may appreciate against the greenback ahead of that report. We will focus on an upside break above 1.27, which could drive the pound towards higher targets at 1.2770 and perhaps even 1.2870. A current support is however seen at 1.2530.
Daily Forex signals:
Additional daily and long-term entries are available for subscribers.
View our daily signal alerts https://www.maimar.co/category/daily-signals/
Subscribe to our daily signal service https://www.maimar.co/signals/
We wish you good trades and many pips!
Any and all liability of the author is excluded.
Copyright © All Rights Reserved 2016 Maimar-FX.
Dear Traders,
In brief, we got what we were looking for: The ECB delivered a surprise which was initially misinterpreted and we realized a good profit from trading both bullish and bearish breakouts in the EUR/USD.
Let’s quickly analyze what had happened: When the ECB announced that they will wind down quantitative easing from 80 billion euro to 60 billion euro in April 2017, market participants wrongly interpreted the reduced amount as a taper. The euro therefore soared beyond 1.0830 as a first response but quickly retreated from its high at 1.0874 after the market realized that the ultimate stock of ECB bonds instead will be higher. While economists had been looking for asset purchases to continue six months beyond the previous end date, ECB policy makers added another three months of purchasing, boosting its balance sheet to 540 billion euros instead of 480 billion euros. Moreover, ECB president Mario Draghi insisted “that there is no tapering in sight”. This was finally reason enough to sell the euro below 1.07.
In a nutshell, the ECB may have bought some time and nine months of keeping their options open, but looking at the future, cutting to 60 billion euro per month could be a staging post to further cuts and thus, effectively tapering.
Whatever the case, we are looking back at a very profitable trading week, specifically in the EUR/USD. On balance, this week alone we generated a profit of 166 pips by our daily signal alerts and a great gain of 250 pips by our swing signals for the euro. We will therefore not invest our weekly profits today.
Have a wonderful weekend and trade well!
Daily Forex signals:
Additional daily and long-term entries are available for subscribers.
View our daily signal alerts https://www.maimar.co/category/daily-signals/
Subscribe to our daily signal service https://www.maimar.co/signals/
We wish you good trades and many pips!
Any and all liability of the author is excluded.
Copyright © All Rights Reserved 2016 Maimar-FX.
Dear Traders,
The U.S. dollar slightly strengthened versus the euro and pound Tuesday. The euro gave up some of its recent gains but was, for the time being, able to hold above the 1.07-mark. With only one day to go before the ECB meeting we do not expect huge market moves in the EUR/USD. Rather, we expect the euro to range-trade between 1.0760 on the upside and 1.0660 on the downside. There are no major important economic reports scheduled for release today, so market participants may stay on the sidelines.
The British pound reversed after peaking at 1.2775 and fell back below 1.27. Recently, sterling was supported by hopes that a hard Brexit can be avoided but the Supreme Court’s ruling on the legitimacy of the U.K. government to trigger Britain’s exit from the EU is still far from done and dusted. From a technical perspective we see next supports around 1.2550 and 1.25 where the pound is probably headed before gaining some ground.
U.K. Industrial and Manufacturing Production figures are scheduled for release at 9:30 UTC and could impact the cable’s price action.
Daily Forex signals:
Additional daily and long-term entries are available for subscribers.
View our daily signal alerts https://www.maimar.co/category/daily-signals/
Subscribe to our daily signal service https://www.maimar.co/signals/
We wish you good trades and many pips!
Any and all liability of the author is excluded.
Copyright © All Rights Reserved 2016 Maimar-FX.
Dear Traders,
It was a paradox: The euro shrugged off political risks from Italy and rallied towards 1.08 amidst political uncertainties in Europe. The short squeeze in the EUR/USD can be explained by profit taking after the euro rejected to extend its losses beyond 1.05. However, given the anti-establishment mood sweeping around the world we doubt that the euro can hold onto its recent gains. Thus, dollar bulls may jump in again and take this opportunity to sell EUR/USD at higher levels. Nevertheless, we will also discuss a potential bullish scenario.
If the euro rises above 1.08, traders will be asking “How high the euro might go?”. So let’s try to figure it out.
EUR/USD
Given the impressive bull candle in the daily chart, we might see further upward movement before the euro reverses. In short-term time frames a next resistance could be at 1.0830/50, followed by a stronger resistance zone at 1.0950. If the euro takes the next hurdle at 1.0830, chances increase that it heads for a test of 1.0960. Above 1.0970 however, the euro may rises towards 1.1030 and perhaps even towards 1.11. Current supports are however seen at 1.0650 and 1.06.
GBP/USD
The cable is still on the rise but we expect gains to be limited until 1.2760 and 1.28. A significant break above 1.28 may drive the pair towards 1.2860 but then we may see some pullbacks. Crucial supports are seen at 1.26 and 1.25, which is why sterling bears should rather wait for a break below 1.2480.
Daily Forex signals:
Additional daily and long-term entries are available for subscribers.
View our daily signal alerts https://www.maimar.co/category/daily-signals/
Subscribe to our daily signal service https://www.maimar.co/signals/
We wish you good trades and many pips!
Any and all liability of the author is excluded.
Copyright © All Rights Reserved 2016 Maimar-FX.
We are Maite & Marios Krausse, both born in Germany and trade full time in the Foreign Exchange Market (Forex) as independent traders.
Our teamwork began in 1998, when we got to know and love each other. 20 years later after having built our careers, our son was born, making us a happy family. Continue reading...
