Will GBP/USD Test 1.40 Before A Correction Is Due?

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The best performing currency on Thursday was the British pound which surged to a high of 1.3986 (more than 100 pips from our long entry) on hopes of a powerful economic bounce as vaccinations in the U.K. continue to outpace those in the EU. Another reason for sterling’s rise was the lack of demand for U.S. dollars that buoyed the uptrend in the GBP/USD.

Looking at the weekly chart in the GBP/USD we see that the pair posted an almost straight-lined appreciation since September 2020, pushing the cable not only in overbought territory but also towards a crucial resistance zone around 1.40. While the overall uptrend is obvious, we remind traders to prepare for a correction as soon as the area between 1.40 and 1.4020 is tested. A higher support is now seen at 1.3860-50. Below 1.3830, a next lower target could be at 1.3750.

The EUR/USD trended higher on the back of a new round of dollar weakness but the pair remained below 1.21. Below 1.2040 we anticipate further losses towards 1.1970 whereas on the upside, we will wait for a sustained break above 1.2115 to anticipate further gains.

We wish you a beautiful weekend.

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The U.S. dollar traded higher against other major currencies after U.S. retail sales exceeded all expectations, rising by most in seven months.

The weakest currency was however the euro which slid below 1.2050 against the dollar, providing short traders a good gain. We believe that the EUR/USD could be vulnerable to further losses with lower targets being at 1.20 and 1.1970. A break below 1.1950 could even send the euro lower towards 1.19. As already mentioned in previous analysis, for bearish sentiment to change we would need to see a break above 1.2170.

The GBP/USD posted a linear decline after reversing from its high at 1.3952. As long as the cable remains below 1.3870, we anticipate a test of 1.38.

Daily Forex Signals:

If you are keen to know where we put Take-Profit and Stop-Loss, if we trade on a specific day or not and how we manage open positions, subscribe to our signals

EUR/USD

Long @ 1.2065

Short @ 1.2035

GBP/USD

Long @ 1.3880 Trade Hit TP

Short @ 1.3830

DAX® (GER30)

Long @ 14010

Short @ 13880

We wish you good trades!

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Will U.S. Retail Sales Spur The Demand For Dollars?

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The U.S. dollar strengthened against its major counterparts Tuesday but bearish movement was limited to short-term technical support levels.

What is important today?

U.S. retail sales are due for release at 13:30 UTC which will have an impact on the U.S. dollar.

At 19:00 UTC FOMC minutes are due for release but retail sales are expected to garner more attention.

GBP/USD

The cable finally corrected some of its gains and found a short-term support at 1.3860. A break below 1.3860 could pave the way for a test of 1.3840-30. A lower crucial support is however still seen around 1.3760. For bullish momentum to accelerate we will need to see a renewed break above 1.3915.

EUR/USD

The euro pulled back from its current resistance zone around 1.2170 and is currently trading near its short-term support at 1.2080. If 1.2080 breaks, a next lower target will be at 1.2050. Below 1.2030 we anticipate further losses towards 1.1970. Bulls in this pair should wait for a sustained break above 1.2175 in order to anticipate further gains.

DAX

We see the index remaining above 14000 and as long as this support remains intact, we will focus on a break above 14140. For the index to post further losses, traders should watch out for prices below 13980 and further below 13900. A lower support is seen at around 13800 whereas a resistance remains intact at 14200.

We wish you good trades!

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Heizen U.S. Einzelhandelsumsätze heute die Dollarstärke an?

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Der U.S. Dollar verteuerte sich gegenüber dem Britischen Pfund und dem Euro, jedoch blieb die bärische Dynamik bis hin zu kurzfristigen technischen Unterstützungen begrenzt.

Was ist heute wichtig?

Die U.S. Einzelhandelsumsätze stehen um 14:30 Uhr an und werden aller Wahrscheinlichkeit nach einen Einfluss auf den U.S. Dollar haben.

Um 20:00 Uhr folgt dann das FOMC Protokoll, jedoch liegt der Fokus heute auf den Einzelhandelsumsätzen.

GBP/USD

Der Cable korrigierte letztendlich einige seiner Gewinne und fand eine kurzfristige Unterstützung bei 1.3860. Ein Bruch von 1.3860 könnte nun den Weg bis zu einem Test von 1.3840-30 ebnen. Ein tieferer und wichtiger Support wird weiterhin bei rund 1.3760 gesehen. Damit die Bullendynamik wieder an Fahrt gewinnen kann, müssten wir einen erneuten Ausbruch über 1.3915 erleben.

EUR/USD

Der Euro machte kurz vor seinem Widerstand bei rund 1.2170 kehrt und handelt momentan nahe der kurzfristigen Unterstützung bei 1.2080. Sollte diese dem Druck nachgeben, könnte ein tieferes Ziel bei 1.2050 liegen. Unterhalb von 1.2030 erwarten wir hingegen weitere Verluste gen 1.1970. Bullen in diesem Paar sollten weiter auf einen Ausbruch oberhalb von 1.2175 warten um von weiteren Gewinnen auszugehen.

DAX

Der Index verbleibt bisweilen über 14000 und solange dieser Support intakt ist konzentrieren wir uns auf einen oberen Ausbruch von 14140. Mit weiteren Verlusten rechnen wir hingegen bei einem Bruch unter 13980 und ferner 13900. Eine tiefere Unterstützung befindet sich bei 13800. Der Widerstand auf der Oberseite liegt bei 14200.

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Der Inhalt des Beitrags spiegelt die persönliche Meinung des Autors wider. Dieser übernimmt für die Richtigkeit und Vollständigkeit keine Verantwortung und schließt jegliche Regressansprüche aus. Dieser Beitrag stellt keine Kauf- oder Verkaufsempfehlung dar.

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Daily Forex Signals

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The British pound continued its rally after the U.K. recorded 15 million vaccinations against coronavirus, with one in four adults vaccinated. The success of the U.K.s vaccination program is now allowing the government to consider lifting current lockdown restrictions. Prime Minister Boris Johnson is expected to unveil his plans in a speech on February 22.

The technical picture in the GBP/USD remains however unchanged. The pair is in overbought territory, making it vulnerable for a reversal. However, before a pullback happens sterling bulls could try pushing the pair towards a test of 1.3970-80 or possibly even 1.40.

Daily Forex Signals:

If you are keen to know where we put Take-Profit and Stop-Loss, if we trade on a specific day or not and how we manage open positions, subscribe to our signals

EUR/USD

Long @ 1.2165

Short @ 1.2090

GBP/USD

Long @ 1.3965

Short @ 1.3885

DAX® (GER30)

Long @ 14180

Short @ 14080

 

Monthly results 2021:

January 2021: +472 pips

 

Results 2020:

December 2020: +318 pips

November 2020: +75 pips

October 2020: +432 pips

 

We wish you good trades!

Any and all liability of the author is excluded.

Copyright © All Rights Reserved 2021 MaiMarFX.

www.maimar.co

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U.S. Dollar weak, Pound Jumps to Fresh Highs – Next Targets in Focus

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The biggest story in the Forex market was the rise of the British pound which jumped to the highest level since April 2018. Falling coronavirus cases, the U.K.’s successful vaccination drive and a neutral stance of the Bank of England could bolster the pound’s uptrend in the short-term. However, traders who are betting on the pound’s long-term strength should be careful since the pound is behaving like a risk-on currency, making it vulnerable to a reversal.

Some strategists are already becoming more bearish on the pound, saying that trade disruptions, a widening current account deficit and under-priced political risk around another Scottish independence referendum are providing a headwind for the pound.

In short-term time-frames we saw GBP/USD testing the 1.39-level, bringing a higher target of 1.3970 in focus. However, the currency pair remains in overbought territory, making a correction more likely than a linear continuation of the pair’s uptrend. A current support is seen at around 1.3750.

The anti-risk U.S. dollar depreciated Friday. With the pace of coronavirus outbreaks slowing further, investors are banking on U.S. government spending and the vaccine rollout to boost the economic recovery, even though new variants of the virus are threatening to temper the outlook.

The EUR/USD was able to stabilize above 1.21 after Friday’s decline below 1.21 has proved short-lived as bearish momentum faded. As long as the currency pair trades above 1.2080, we will focus on a test of 1.2170-80.

The DAX seems to be on its way towards a test of 14200. If the index breaks above that level, we may see a continuation of the upward movement towards 14400. A current support is however seen at 14000.

U.S. markets are shut for President’s Day today, so we might have a quiet start to the new week.

Upcoming key events this week:

  • EU finance ministers will discuss the bloc’s current economic situation and outlook on Tuesday.
  • FOMC minutes from the January meeting are due Wednesday.

We wish you good trades!

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U.S. Dollar schwach, Pfund in frischen Höhen – Nächste Ziele im Blick

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Gesprächsthema im Forex Markt war der Anstieg im Britischen Pfund, welches auf den höchsten Stand seit April 2018 kletterte. Sinkende Coronavirus Fälle, Großbritanniens erfolgreiche Impfkampagne und eine neutrale Haltung seitens der Bank von England unterstützen derweil den Aufwärtstrend im Pfund. Nichtsdestotrotz sollten Trader, welche auf eine langfristige Stärke im Pfund wetten, vorsichtig sein. Das Pfund verhält sich momentan wie eine Risikowährung, welche anfällig ist für scharfe Umkehrungen. Einige Strategen werden allmählich bärischer auf Sterling mit der Berufung auf Störungen im Außenhandel, eine Ausweitung des Leistungsbilanzdefizits und unterschätzter politischer Risiken rund um ein erneutes Schottland Referendum.

Auf kurzfristigen Zeitebenen sehen wir nun den GBP/USD das 1.39-Level testen, was ein höheres Ziel bei 1.3970 auf den Plan ruft. Dennoch bleibt das Währungspaar im überkauften Bereich, was eine Korrektur wahrscheinlicher macht als eine lineare Fortführung der Aufwärtstendenz. Eine aktuelle Unterstützung wird um 1.3750 gesehen.

Der anti-Risiko U.S. Dollar verbilligte sich gegenüber anderen Gegenspielern am Freitag. Mit einem verringerten Tempo der Coronavirus Ausbrüche setzen Investoren auf eine Wirtschaftserholung durch das U.S. Konjunkturpaket und die Impfung, obgleich neue Mutationen des Virus den Ausblick zu dämpfen drohen.

Der EUR/USD konnte sich oberhalb von 1.21 stabilisieren nachdem sich der Rutsch vom Freitag unter 1.21 als kurzlebig herausstellte und die bärische Dynamik schwand. Solange das Paar oberhalb von 1.2080 verbleibt, konzentrieren wir uns auf einen Test von 1.2170-80.

Der DAX scheint sich auf seinem Weg Richtung 14200 zu befinden. Sollte dieses Level nach oben durchbrochen werden, so könnten wir eventuell eine Fortführung der Aufwärtsbewegung bis 14400 sehen. Eine aktuelle Unterstützung liegt derweil bei 14000.

Die U.S. Märkte bleiben heute feiertagsbedingt geschlossen. Es könnte somit eventuell ein ruhiger Wochenstart werden.

Wichtige Meldungen diese Woche:

  • Die EU-Finanzminister beraten am Dienstag über die aktuelle Wirtschaftssituation und den Ausblick der Region.
  • Am Mittwoch steht das FOMC Protokoll des Federal Reserve Treffens vom Januar an.
  • Hier können Sie unseren Signal Service abonnieren

Wir wünschen gute Trades!

Der Inhalt des Beitrags spiegelt die persönliche Meinung des Autors wider. Dieser übernimmt für die Richtigkeit und Vollständigkeit keine Verantwortung und schließt jegliche Regressansprüche aus. Dieser Beitrag stellt keine Kauf- oder Verkaufsempfehlung dar.

Copyright © 2021 MaiMarFX.

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FX Pairs in Tight Trading Ranges

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Looking back on the last trading days this week failed to provide traders with large weekly gains. Both EUR/USD and GBP/USD remained in tight price ranges, providing almost zero trading chances. The DAX on the other side provided some volatile movements but unfortunately not in favour of huge gains. However, we are patient and wait for better opportunities in the next week, or maybe even today. Let’s see.

EUR/USD: Above 1.2155 the euro could head for a test of 1.2175. Below 1.21, the pair may dip to 1.2060. Chances are slightly in favour of the bears.

GBP/USD: The pair started to correct recent gains and could be on its way towards 1.3760 and possibly even 1.37. For bullish action to gain traction we would need to see a renewed break above 1.3860. A higher target is seen at 1.3950.

Have a nice weekend everyone!

We wish you good trades!

Any and all liability of the author is excluded.

Copyright © All Rights Reserved 2021 MaiMarFX.

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U.S. Dollar Held Decline After Weak CPI Data

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The U.S. dollar held its recent dip after a weaker than expected U.S. inflation report. While inflation has become a major theme in financial markets, price pressures are set to firm in the months ahead as President Joe Biden pushes for major stimulus and consumer spending is expected to accelerate as more are vaccinated.

Yesterday’s best performer was the British pound which rose towards 1.3870 despite the overbought situation in the GBP/USD. While we still believe that a correction is overdue, traders should follow the trend and mark the 1.39-level as a next higher target. Falling back below 1.3820, the cable could head for a test of 1.38. A lower important support area is currently seen at 1.3760-50.

The EUR/USD was steady around 1.2130 while bullish momentum was not enough to push the pair higher than 1.2144. Chances could be in favor of upcoming bearish momentum now unless the euro breaks above 1.2180. For bearish momentum to accelerate we will watch out for a break below 1.2040.

DAX: Bearish momentum accelerated after the index was not able to climb back above 14040. Short traders were able to book a good profit yesterday. For the upward trend to gain traction again we would now need to see a renewed break above 14100 and further 14200 but as long as the DAX remains above 13300 the overall uptrend should remain intact.

We wish you good trades!

Any and all liability of the author is excluded.

Copyright © All Rights Reserved 2021 MaiMarFX.

www.maimar.co

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Daily Forex Signals

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Daily Forex Signals:

If you are keen to know where we put Take-Profit and Stop-Loss, if we trade on a specific day or not and how we manage open positions, subscribe to our signals

EUR/USD

Long @ 1.2135

Short @ 1.2085

GBP/USD

Long @ 1.3835

Short @ 1.3785

DAX® (GER30)

Long @ 14130

Short @ 14040

 

Monthly results 2021:

January 2021: +472 pips

 

Results 2020:

December 2020: +318 pips

November 2020: +75 pips

October 2020: +432 pips

 

We wish you good trades!

Any and all liability of the author is excluded.

Copyright © All Rights Reserved 2021 MaiMarFX.

www.maimar.co

Follow us on social media:

Facebook

Twitter

Instagram