Trading-break On July 31
Dear Traders,
There will be no analysis and signals on Monday, July 31. We are doing a trading break since we secured our monthly profits.
The MaiMarFX team
Archive for month: July, 2017
Will The Dollar’s Reversal Last? Focus On GDP Numbers
Dear Traders,
We had waited some time for a reversal to happen and yesterday we finally saw the greenback taking a breather while EUR/USD traded off its highs. The euro fell more than 100 pips from its 2.5-year high and dollar bulls might ask whether the greenback’s recovery will last a bit longer. Looking at the technical picture, EUR/USD and GBP/USD still remain well above their crucial support levels, so for the time being, there is no reason to speak of a trend reversal. Up to now, it was only a necessary correction in an overbought market.
EUR/USD: Euro bulls took profit after several consecutive days of euro strength. That profit taking led to a sharp reversal and drove the euro back below 1.17. As long as the euro remains above its support area at 1.1625/1.16, the uptrend remains intact.
German Consumer Prices are scheduled for release at 12:00 UTC, a report that could affect the price action in the EUR/USD.
GBP/USD: Recently, the cable traded with a tailwind and appeared to be headed for a test of 1.32. This test could still happen but for the recent uptrend to remain intact the pound will need to hold above 1.2950/1.29. A break below 1.29 could spark bearish momentum toward 1.28 and 1.2750. Let us wait and see.
How the U.S. dollar will trade today will mainly hinge on the GDP report, scheduled for release at 12:30 UTC. U.S. second quarter growth is expected to show an upswing but if GDP numbers disappoint, the dollar could resume its slide.
Having already gained a good profit this month, we will not invest our weekly and monthly profits and will thus stay on the sidelines.
We wish everyone a beautiful 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/
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We wish you good trades and many pips!
Any and all liability of the author is excluded.
Copyright © All Rights Reserved 2017 Maimar-FX.
USD Crashes Post FOMC; Euro Trades Surprisingly Resilient
Dear Traders,
The FOMC statement sent the U.S. dollar into a tailspin and drove other major currencies to fresh highs. While the Federal Reserve’s monetary policy announcement came in as expected, the market interpreted it as dovish. The reason was that, the policy statement contained too much concern over inflation to give the dollar a boost. While the Fed indicated that it would start unwinding its balance sheet “relatively soon”, a change in language from “later this year” in the June statement, it said inflation remains below the central bank’s 2 percent target even as near-term risks to the economic outlook appear balanced. That fueled speculation the Fed won’t rush to raise interest rates.
The dollar fell sharply post FOMC and pushed the euro and British pound to new highs. EUR/USD hit a fresh 2-year high on the way to 1.18 while GBP/USD broke above 1.31. Given the strong uptrend, bulls might tend to extend gains to 1.18 in the euro and 1.32 in the cable. Nonetheless, we bear in mind that EUR/USD and GBP/USD are in lofty highs, the risk for stronger pullbacks is thus increased.
U.S. Durable Goods Orders are scheduled for release at 12:30 UTC and could have a short-term 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/
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We wish you good trades and many pips!
Any and all liability of the author is excluded.
Copyright © All Rights Reserved 2017 Maimar-FX.
Muted Market Conditions As Meaningful Event Risks Lack
Dear Traders,
There was little consistency in the performance of the U.S. dollar ahead of the Federal Reserve rate decision on Wednesday. The greenback slightly strengthened against the euro but gains were limited to a low of 1.1625. While the USD remains an unattractive buy against other better-positioned currencies, we expect higher volatility in all USD crosses starting tomorrow.
EUR/USD: The euro revisited its current support area around 1.1620 but refrained from trading any lower than 1.1625, at least for the time being. We still see an important resistance at 1.17/1.1715. On the downside, a break below 1.1615 could spark bearish momentum towards 1.1540.
GBP/USD: The cable traded flat between 1.3060 and 1.3015. Any price breakouts either above 1.3060 or below 1.2990 could result in more meaningful swings.
Important economic data scheduled for release today:
8:00 EUR German IFO Index
14:00 USA Consumer Confidence
(Time zone 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/
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We wish you good trades and many pips!
Any and all liability of the author is excluded.
Copyright © All Rights Reserved 2017 Maimar-FX.
Profitable Trading Week: Secure Your Profits And Lean Back
Dear Traders,
Things turned out differently than many market participants had hoped. Almost everyone was expecting a very dovish tone from European Central Bank President Draghi but what we got, was a neutral Draghi who talked up the EU economy, saying officials will reassess stimulus in autumn. His remarks that the economy is finally enjoying a robust recovery outweighed concerns about the rise in the common currency. The market fully ignored Draghi’s assertion of the need for continued accommodation and pushed the euro to its strongest level in 23 months.
Investors will have to get used to the prospects of less ECB stimulus even though no decision has been made on timing or form of any tapering yet. Draghi only signaled the ECB would discuss its bond purchase program in the autumn.
The euro rallied to a fresh high of 1.1658 and many analysts already expect the euro rising toward higher targets at 1.17 and even 1.20. Time will tell.
The cable tumbled back below the 1.30 level as initial Brexit talks did not produce a breakthrough on any of the key issues between the UK and EU. Our short entry at 1.3015 has proved highly profitable and gave us a nice profit while using it twice.
For our part, since we have gained a good profit this week we will not reinvest our weekly profits and will thus do a trading break today. Have a good 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/
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We wish you good trades and many pips!
Any and all liability of the author is excluded.
Copyright © All Rights Reserved 2017 Maimar-FX.
EUR/USD: Is The Euro’s Uptrend Now Running Out Of Steam?
Dear Traders,
If you recently bought euros against the U.S. dollar, you were exactly right and produced most probably solid black figures. We were able to turn in a good profit thanks to the solid performance of the euro. The euro rose to a fresh high of 1.1583 but the fact that a next crucial resistance zone soars around 1.16-1.1625 could limit further gains which is why the euro’s uptrend could now begin to lose momentum. However, euro bulls might tend to test that resistance before taking profit but we now anticipate a higher likelihood for a steeper correction in the EUR/USD. We expect next short-term supports at 1.1515 and 1.1480 followed by a more meaningful support area around 1.14.
The British pound came under increased selling pressure after U.K. inflation came in below expectations. The short-lived break above 1.3120 finally proved as false break-out as it happened before inflation figures were due for release. We now expect GBP/USD to trade between 1.3080 and 1.2960 but if the pound climbs again above 1.3115, we may see another leg up targeting at 1.32.
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/
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We wish you good trades and many pips!
Any and all liability of the author is excluded.
Copyright © All Rights Reserved 2017 Maimar-FX.
U.S. Dollar Falls On Healthcare Reform Failure
Dear Traders,
Yesterday’s trading was quiet for most of the day and both of our currency pairs fluctuated within narrow trading ranges. The big move occurred during the Asian session after two Republican senators said they oppose the Trump-backed healthcare reform bill, leaving it with insufficient votes for passage. The U.S. dollar fell sharply on signs the U.S. healthcare reform bill is effectively dead in its current form. Investors appear to be losing confidence in U.S. President Trump’s ability to deliver, not just on healthcare but on the rest of his revitalization agenda too.
EUR/USD surged to a high of 1.1538 and traders wonder whether the euro is on its way toward higher targets at 1.1565 and 1.1620. Let’s be surprised.
The German and Eurozone ZEW Survey are due for release at 9:00 UTC and could have a short-term impact on the euro.
GBP/USD rose in tandem with the greenback’s opponents and climbed back above 1.31. Whether the pound is able to maintain its high level remains to be seen but once 1.3120 is significantly broken, the chances are in favor of further bullish momentum. If the cable falls back below 1.3040 it could head for a test of the 1.30-support.
The U.K. Consumer Price Report scheduled for release at 8:30 UTC receives most attention and should be watched closely.
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/
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We wish you good trades and many pips!
Any and all liability of the author is excluded.
Copyright © All Rights Reserved 2017 Maimar-FX.
All Eyes On U.S. CPI Data
Dear Traders,
The FX market on Thursday can be described as rather muted. As expected, GBP/USD traded higher but the bullish momentum was limited to a high of 1.2955. The cable now needs to overcome the 1.30-barrier in order to encourage sterling bulls for a test of 1.3020/45 . EUR/USD traders however, sold euros below 1.1420 but yesterday’s downward movement was limited to a low of 1.1370. A break below 1.1380 has thus failed to ignite bearish momentum toward 1.13.
Today might be more interesting for traders as U.S. Consumer Inflation due at 12:30 UTC will be closely scrutinized. Yellen believes that the current downtrend in inflation will be temporary and if she is right and we see upbeat inflation figures, the greenback will rise. However, there is a risk that inflation could slow again in June and this would increase the pressure on the U.S. dollar. If the forecast is correct and inflation slowed to 1.7 percent, it is the fourth consecutive month of deceleration and the weakest reading since November 2016.
Let’s be surprised while we prepare for higher volatility around the release of CPI data.
We wish you good trades and a beautiful weekend.
If you want to know how to exactly trade EUR/USD and GBP/USD including an appropriate money management per trade and day, sign up for our daily signal service here.
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 2017 Maimar-FX.
Further U.S. Dollar Weakness Expected
Dear Traders,
We hope you successfully weathered the first day of Yellen’s testimony and the currencies’ whipsaw performance.
The Federal Reserve Chair sounded slightly more cautious on the inflation outlook while saying the U.S. economy should continue to expand over the next few years, allowing the central bank to stick to its path of higher interest rates. In the Q&A session, Yellen indicated the Fed is still considering risks around the inflation outlook while inflation is running below the Fed’s 2 percent target. Concerning the Fed’s balance sheet, Yellen mentioned that the central bank anticipates it will start reducing its balance sheet “this year” while the size of the balance sheet is uncertain.
The Fed chair will continue testifying today at 14:00 UTC before the Senate Banking Committee.
In short, Yellen’s comments suggest that the Fed is in no rush to tighten monetary policy because of too-low inflation, even though the U.S. economy is in good shape. This slightly less hawkish tone bodes well for U.S. stocks but weakens the U.S. dollar.
Traders of the EUR/USD now might argue that the U.S. dollar strengthened instead in the aftermath of the testimony. One reason for the euro’s short-term decline might be speculation the ECB could follow the Fed’s low inflation expectations and may put the awaited taper in question, at least in the near future.
For our part, we expect the EUR/USD to strengthen, heading for a test of 1.15. Euro bears should however wait for a break below 1.1380 or, on the other hand, sell euros at higher levels following a test of 1.15.
As expected, the GBP/USD received a boost from stronger-than-expected U.K. labor market data and started its relief rally towards 1.29. If the pound breaks above 1.2930 we expect further gains towards 1.2970 and possibly even 1.3020. A significant break below 1.2850 however, could spark bearish momentum towards 1.28.
If you want to know how to exactly trade EUR/USD and GBP/USD including an appropriate money management per trade and day, sign up for our daily signal service here.
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 2017 Maimar-FX.
EUR/USD Forecast Met; Focus Now On Further Upside Momentum
Dear Traders,
We got what we were looking for in yesterday’s analysis: A breakout in the EUR/USD. The euro broke out of its narrow trading range and surpassed the 1.1445-barrier. Our long entry has thus proved a success. We are now looking for additional upside in this pair and look at higher targets at 1.15, 1.1530 and 1.1580. With the EUR/USD gradually approaching overbought territory we also anticipate pullbacks which may drive the euro back toward 1.1415. With the euro remaining above 1.1460 however, there is no cause for concern for euro bulls, at least for a while.
Federal Reserve Chair Janet Yellen gives testimony today and tomorrow with market participants looking for guidance on when the Fed could start shrinking its balance sheet. Ms. Yellen is due to start her prepared remarks at 12:30 UTC followed by Q&A at 14:00 UTC. Yellen’s testimony is the prime monetary policy event for dollar traders and so we expect higher volatility in all USD crosses.
The British pound depreciated against the U.S. dollar Tuesday and fell toward a low of 1.2830. The catalyst for the decline was a speech by Bank of England Deputy Governor Broadbent who refrained from commenting on interest rates. Broadbent instead warned of Brexit risks and hence the pound weakened as the market has hoped that there would be anything hawkish in his speech.
From a technical perspective, we now expect the GBP/USD to trade with a tailwind since the pair refrained from a break of its recent downtrend channel. Based on that channel, it could be time for a pullback and hence upcoming bullish momentum toward 1.2920. Let us be surprised.
The U.K. Labor Market report is scheduled for release at 8:30 UTC and could have an impact on the pound. Signs of stronger job growth may encourage the BoE to start normalizing monetary policy. Stronger job/wage growth figures would thus have a positive impact on the pound sterling.
We wish you profitable trades for today!
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 2017 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...
