Will U.K. CPI Data Prompt Sterling Bulls For A Run For 1.30?

/in /by

Dear Traders,

Euro bulls have regained control and pushed the EUR/USD up to a test of 1.10 this morning. Traders are now on the look-out for a sustained upside-break of that psychological level. If the euro breaks above 1.1023, the opening price following the first round of French elections, we see chances of a climb towards 1.1070. On the bottom side, we expect a current support to be around 1.09. The most important piece of Eurozone data this morning will be the Gross Domestic Product for the first quarter, scheduled for release at 9:00 UTC. At the same time, the German ZEW Survey is due for release. Any upside surprises could translate into further euro strength.

The British pound found some halt near 1.2880 after an attempt to break the 1.2940-level has failed. All eyes will be on the Consumer Price report, scheduled for release at 8:30 UTC and if inflation data is upbeat, the pound could trade higher targeting 1.2970 and 1.3020. Current support levels are however seen at 1.2860 and 1.28.

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.

www.maimar.co

 

 

 

Euro Bulls Profit From U.S. Dollar Weakness

/in /by

Dear Traders,

The U.S. dollar traded lower against the euro and British pound after U.S. retail sales and CPI data fell short of estimates. Following Friday’s softer reports, the odds for a Federal Reserve rate increase next month have fallen to about 70 percent, even though data was still good enough to bolster the case for tightening in June.

EUR/USD

The euro rose towards its 1.0950-resistance after re-testing the current support zone ranging from 1.0855 to 1.0820. We will now pay close attention to a renewed break above 1.0950 which could result in a climb towards 1.1050.

Despite the low-volatile market environment there might be a catalyst for some swings throughout this week. The German ZEW Survey is due for release on Tuesday, followed by the Eurozone Consumer Price Report which is due on Wednesday and a speech of ECB President Draghi on Thursday.

GBP/USD

The pound sterling remained range-bound between 1.2990 and 1.2845 and traders still wait for, at least, a test of 1.30. It could be an interesting week for sterling traders with U.K. Consumer Prices (Tuesday), Employment data (Wednesday) and Retail Sales (Thursday) scheduled for release. Most of these reports are expected to surprise to the upside, so we may see a run for 1.30 and possibly even a test of 1.3050.

A bearish break below 1.2750 however, could increase bearish momentum towards lower targets around 1.26.

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.

www.maimar.co

 

 

BoE Disappoints, Pound Falls, What’s Next?

/in /by

Dear Traders,

The Bank of England disappointed investors that have been buying the British pound ahead of the Inflation report as the medium-term inflation forecast came in lower than expected. Traders who had hoped for a hawkish tone or more than one dissent calling for a rate hike in the BoE’s monetary policy statement were disappointed. Officials cut their economic growth forecasts this year to 1.9 percent from 2 percent. While the BoE sees a slightly weaker path in the medium-term it expects inflation to be accelerating again by the end of 2019. To sum up, it can be said that the central bank is moving more slowly with a potential rate hike not being in the cards until 2019.

The pound dropped in response to the weaker forecasts but the slide came to a halt at around 1.2850. If sterling climbs back above 1.29 and is able to hold above that level we shift our focus back to a potential test of the 1.30-resistance level.

Today, traders will pay close attention to important U.S. economic reports such as Retail Sales and Consumer Prices, both reports are due for release at 12:30 UTC. Investors are looking for a positive reading, confirming that the U.S. economy is picking up the pace enough to withstand higher interest rates. However, a disappointment in U.S. data could send the dollar lower, providing the basis for fresh upswings in the cable and euro.

Last but not least, University of Michigan Confidence is due for release at 14:00 UTC.

We wish you good trades and a wonderful 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 2017 Maimar-FX.

www.maimar.co

 

 

 

Euro And Cable Test Crucial Support Levels On USD Strength

/in /by

Dear Traders,

Sellers in the EUR/USD and GBP/USD profited from a stronger U.S. dollar on Tuesday. The current strength in the greenback is of a more technical nature since market participants are tending to take profit on long positions when currency pairs approach overbought territory. Hence, a pullback was the logical consequence. Moreover, the Federal Reserve’s tightening cycle is keeping the demand for U.S. dollars at higher levels. While the euro dropped towards 1.0860 on a strengthening greenback, the pound sterling remained relatively stable ahead of tomorrow’s ‘Super Thursday’. While the Bank of England is unlikely to change its policy anytime soon, officials may raise their inflation forecasts in the central bank’s quarterly inflation report which should have a positive impact on the pound.

Based on the overall resilience of the pound, it can be seen that investors prepare for a positive outcome of tomorrow’s inflation report. Technically, we believe that there could be some room for further gains in the GBP/USD. If the pound makes it through 1.2965, we could possibly see a run for 1.30/1.3020.

EUR/USD

Is the euro’s recent downward move only a correction within its uptrend or a trend reversal? As long as the price remains above 1.0820, the recent downward movement can be considered a normal correction. If the euro falls below 1.0820, filling up the gap until 1.0740 it could be considered a steeper correction but still, bullish sentiment could be intact. Only a break below 1.0650 would change the bias in favor of the bears. On the topside, we will pay attention to the 1.10 and 1.1050-resistance levels.

From a fundamental perspective, there are no major economic reports scheduled for release today so the price action could be oriented towards technical barriers.

ECB President Mario Draghi is due to speak in Dutch Parliament at 11:00 UTC. Any comments on the ECB’s monetary policy could have an impact on the euro.

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.

www.maimar.co

 

 

Forex Market Is Fairly Quiet In The Absence Of Market Movers

/in /by

Dear Traders,

While concerns over French elections have disappeared after the market-favorable Macron victory, the euro’s response was anything but enthusiastic. Rather, the single currency favored lower price targets near 1.0915 after having rejected the 1.10-resistance. Euro traders should now pay attention to the 1.0890-support level which may prove to be the new lower bound of the euro’s current upward trend channel. If the 1.0890-support gives way to bearish pressure, the focus shifts to a break of 1.0850 and further 1.0820. On the topside we will pay attention to a potential re-test of 1.10 which could result in a sustained bullish breakout. In the absence of catalyst to spur further momentum we expect the EUR/USD to trade between 1.10 and 1.0895.

The GBP/USD did not move much and traded within a narrow 55-pips trading range. Ahead of the BoE’s quarterly inflation report on Thursday sterling traders may refrain from taking any risks, which is why we anticipate sideways movements between 1.30 and 1.2860. In short-term time frames we expect a next support at around 1.29, whereas a lower resistance could be at 1.2975.

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.

www.maimar.co

 

 

 

Will NFP Help Or Hurt U.S. Dollar?

/in /by

Dear Traders,

The biggest story on Thursday was the rise of the euro which has surged to a high of 1.0987. The euro is currently supported by expectations of a Macron win in the final round of French elections this Sunday. While we bear in mind that if Le Pen surprises on Sunday, the market’s reaction would be far greater, the most likely scenario is however a victory of the pro-euro candidate Emmanuel Macron. Markets are therefore unlikely to budge much if Macron wins.

Apart from the French election, great attention will be paid to the Non-Farm Payrolls report which appears to be the market-moving event for this week. The U.S. Jobs report is forecast to show a job growth of 190K jobs last month but the focus will also be on Average Hourly earnings. A large miss in this key figure or a disappointment in payrolls growth may raise doubts about a Fed June rate hike. In other words, a disappointment would have a greater impact on the market than a strong report. In case of a weaker jobs report the U.S. dollar could come under strong selling pressure.

The NFP report is due at 12:30 UTC today.

We wish you good trades and a nice 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 2017 Maimar-FX.

www.maimar.co

 

 

 

Trading Break

/in /by

Trading Break from April 28 until May 3:

During this period we will not provide daily analysis and signals.

All Eyes On Draghi: Will He Talk Down The Euro?

/in /by

Dear Traders,

The British pound finally broke above 1.2865 this morning and a next hurdle could now be at 1.29. If the pound rises above 1.2910 we may see a run for 1.30. Let’s us wait and see.

The much anticipated U.S. tax plan disappointed investors as it left too many unanswered questions and did not reveal anything new. The U.S. dollar weakened against the euro and pound as a result. The “phenomenal” tax plan came in as a one-page list of bullet points and was largely devoid of detail.

Euro traders will shift their focus to the European Central Bank meeting while no changes are expected from the central bank. ECB President Mario Draghi will most likely maintain a dovish monetary policy stance since a strong euro is the biggest problem for policy makers and makes it more difficult for the ECB to achieve its inflation target. In a nutshell, we doubt that Draghi is debating an exit from its extraordinary stimulus. With no fresh insights, the ECB meeting could thus be a non-event for traders but let us be surprised.

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.

www.maimar.co

 

 

Can The Euro Hold Onto Its High Price Level?

/in /by

Dear Traders,

The euro broke above Monday’s spike high at 1.0923 but gains were capped at 1.0950, at least for the time being. The question now is whether there is still room for further gains. Looking at the 4-hour and daily chart we see that the EUR/USD is in overbought territory, a situation that increases the likelihood of upcoming corrections. We see a next hurdle at around 1.0970 followed by a stronger resistance at 1.10. As long as the euro remains firmly below 1.10 we prepare for corrective movements towards 1.09, 1.0840 and possibly even 1.0750.

The British pound rose towards the upper bound of its recent sideways trading range but still refrained from an upside break above 1.2850. As noted in previous analysis, sterling bulls better wait for a significant break above 1.2860 in order to buy pounds towards 1.30. A break below 1.2730 however, could send the pound tumbling towards 1.2650.

There are no major economic reports scheduled for release today, so the price action could hinge on U.S. President Trump’s tax-reform speech. Trump is expected to unveil a tax plan that includes a cut of the corporate rate to 15 percent from 35 percent. If he delivers we could see some renewed strength in the U.S. dollar.

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.

www.maimar.co

 

Market Returned To Risk-Off Mode

/in /by

Dear Traders,

Risk appetite among market participants has subsided following the risk-on rally in the wake of French elections. While we had hoped for some further momentum in the markets, traders were disappointed by the poor market situation and consequently none of our daily signal entries was triggered. We may see some increase in volatility as soon as tomorrow as investors are turning their attention to U.S. President Trump who will unveil his tax plan on Wednesday. According to a White House official, he will call for cutting taxes for individuals and lowering the corporate rate to 15 percent. Trump’s announcement could strengthen the U.S. dollar.

The euro traded sideways within a tight trading range between 1.0880 and 1.0835. We are now looking for small breakouts either above 1.0880 or below 1.0845. However, with market participants pulling back on EUR/USD positioning we have no other choice than waiting for the market sentiment to improve.

The British pound refrained from showing any larger price fluctuations and remained steady above 1.2770, at least for the time being. A current support level is seen at 1.2745 whereas a short-term resistance remains intact at 1.2830/40.

U.S. Consumer Confidence is scheduled for release at 14:00 UTC and is the only noteworthy report 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.

www.maimar.co