Will Payrolls Help Dollar Bulls?

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The U.S. dollar strengthened slightly after Wednesday’s Federal Reserve meeting minutes suggested the Fed is ready to raise rates sooner and higher than previously expected. According to hawkish comments of St. Louis Fed President James Bullard the central bank could raise rates as soon as March.

Today is payrolls day and the jobs report is forecast to show that the U.S. added 405,000 jobs in December. An upside surprise could help the greenback strengthening but we will take a cautious approach on payrolls day. Since much of the dollar’s strength is already priced in, traders should brace for price movements in the opposite direction.

EUR/USD: Above 1.1270, chances are in favor of the bulls. A higher target is 1.14. Below 1.1270, the focus turns to a break below 1.1220 and further 1.1185. A lower target is 1.10.

GBP/USD: We pencil in a trading range between 1.3650 and 1.3410.

We wish you good trades and a nice weekend.

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ETH/USD

Long @ 3190

Short @ 3090

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DAX Technical Outlook

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The cable tested the 1.3550-resistance area again but bullish momentum was not strong enough for a push higher towards 1.36. In case of a break above 1.3575, we expect the GBP/USD to head for a test of 1.36 and possibly even  1.3625. Falling however below 1.34, the sentiment could change in favor of the bears.

The EUR/USD trended downwards toward 1.1260. For bearish momentum to gain strength we will wait for a sustained break below 1.12.

On Friday we will have fresh U.S. payrolls data from December that could shed more light on the Federal Reserve’s potential pace of rate hikes. The Fed is expected to raise rates at least three times beginning in May to counter price pressures.

In terms of market moves, we will also keep an eye on today’s FOMC meeting minutes.

DAX – Stabilization above 16000 fuels hope for bulls

Our long entries have proved highly profitable over the last two days. The index stabilized above the crucial 16000-mark and thus bulls have an eye on a potential break of the 16300-high. As long as 16000 holds, there might be nothing in the way of a higher target at 16650.  A break below 16000 and further 15700 will however turn our focus to lower targets around 15300.

 

Try out our new signals for cryptocurrencies:

ETH/USD

Long @ 3830

Short @ 3790

 

Disclaimer: All trading ideas and expressions of opinion made in the articles are the personal opinion and assumption of MaiMarFX traders. They are not meant to be a solicitation or recommendation to buy or sell a specific financial instrument.

We wish you good trades!

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Daily Forex, DAX And Crypto 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 @ 1.1325

Short @ 1.1275

GBP/USD

Long @ 1.3490

Short @ 1.3435

DAX® (GER30)

Long @ 16110

Short @ 15990

ETH/USD

Long @ 3780

Short @ 3740

 

Disclaimer: All trading ideas and expressions of opinion made in the articles are the personal opinion and assumption of MaiMarFX traders. They are not meant to be a solicitation or recommendation to buy or sell a specific financial instrument.

We wish you good trades!

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www.maimar.co

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Daily Signals

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Daily Forex and Crypto 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 @ 1.1360

Short @ 1.1315

GBP/USD

Long @ 1.3520

Short @ 1.3490

DAX® (GER30)

Long @ 15960 Trade has hit profit target

Short @ 15840

ETH/USD

Long @ 3820

Short @ 3770

 

Disclaimer: All trading ideas and expressions of opinion made in the articles are the personal opinion and assumption of MaiMarFX traders. They are not meant to be a solicitation or recommendation to buy or sell a specific financial instrument.

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Technical Outlook For EUR/USD And GBP/USD

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With some major markets are still being shut for holidays we will start slowly with pending low-risk entries which are based on our technical analysis.

EUR/USD – Consolidation with a slight uptick

The euro trended slightly upwards during the holidays but remained within a consolidation range between 1.1390 and 1.1270. We believe that the euro could test the resistance area around 1.1410 before heading south toward 1.1260. Sell attempts around 1.14 might prove profitable. Current supports are however seen at 1.1250 and 1.12. Below 1.1180, we favor an even more bearish stance with a lower target at 1.10. For the sentiment to shift in favor of the bulls we would need to see a sustained break above 1.1425.

GBP/USD – The end of the bull-run?

As expected in the middle of December we saw the cable recovering its losses towards 1.35. Now that the pair tested the 1.35 and even the 1.3550-area, we may see bearish momentum accelerating again, which could also be due to an overbought situation in larger time frames.

If, however the current support at 1.34 holds, we could see a run for 1.36 and possibly even 1.3670 but this depends on the risk sentiment. If 1.34 breaks, we expect the cable to fall back towards 1.3250.

We wish everyone a very good and healthy start to the new year and of course many good and profitable trades for the months ahead!

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