Will Payrolls Help Dollar Bulls?

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.

Try out our new signals for cryptocurrencies:

ETH/USD

Long @ 3190

Short @ 3090

Any and all liability of the author is excluded.

Copyright © All Rights Reserved 2022 MaiMarFX.

www.maimar.co

Follow us on social media:

Facebook

Twitter

Instagram

 

DAX Technical Outlook

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!

Any and all liability of the author is excluded.

Copyright © All Rights Reserved 2022 MaiMarFX.

www.maimar.co

Follow us on social media:

Facebook

Twitter

Instagram

Daily Forex, DAX And Crypto Signals

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!

Any and all liability of the author is excluded.

Copyright © All Rights Reserved 2022 MaiMarFX.

www.maimar.co

Follow us on social media:

Facebook

Twitter

Instagram

Daily Signals

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.

Follow us on social media:

Facebook

Twitter

Instagram

Technical Outlook For EUR/USD And GBP/USD

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!

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

Happy New Year 2022!

As we step into another year, we would like to thank all of you for your support! We hope the coming will be just as fruitful and rewarding as the last year was!

Happy New Year everyone and many good trades for the year ahead!

The MaiMarFX Team

 

 

No Signal Service From 20/12/21 till 3/1/22

Dear traders,

We will be on holiday from 20/12/21 till 3/1/22. During that time there will be no signal service.

We wish you a joyous holiday season with peace & cheer in the New Year!

Stay healthy! Stay strong!

 

All the best from the MaiMarFX team

Surprise Means Profits

Surprise, surprise. The Bank of England raised interest rates by 15 basis points for the first time since the beginning of the crisis. The hike came as a surprise for many market participants and has thus sent the pound surging against other peers. As traders, we were able to catch the big fish in the GBP/USD with our long entry at 1.3270 hitting precisely its profit target at 1.3370 before price reversed.

The European Central Bank will wind down its emergency stimulus as planned in March. As for rate hikes, ECB President Christine Lagarde said that a rate increase in the euro zone isn’t going to happen any time soon. The EUR/USD hit a two-week high at 1.1360 but remained below crucial resistance levels. We profited with our long entry at 1.1310.

We will save our weekly profits and wish everyone a good weekend.

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.

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

ECB To Remain Dovish?

Market participants seems to be having enough of the U.S. dollar rally while the greenback may have reached the peak of its rally.

The Federal Reserve announced that it will double the pace of its taper to $30 billion a month and projected three quarter-point interest rate increases in 2022, another three in 2023 and two more in 2024.  The updated dot plot shows a much more aggressive tightening cycle than envisioned in September when Fed policy makers saw only half a hike.

Despite the Fed’s hawkish turn, the market’s reaction was muted since much of the move was already priced in. We bear in mind that if the demand for dollars is fading, it could mean that a reversal is just around the corner.

Having the Fed behind us, the Bank of England and the European Central Bank will release their respective policy statements today.

The Bank of England surprised markets at its last policy meeting by electing not to raise interest rates despite rampant inflation. The central bank may choose to hold off on a rate hike yet again, as the country struggles with the spread of the Omicron variant. However, rate hikes are just around the corner while the BoE is expected to hike next year.

The European Central Bank was sounding more dovish of late than other central banks. While the ECB may announce an alteration to its pandemic emergency purchase program (PEPP), policymakers may choose to remain dovish as the continent struggles with Omicron. The reemergence of lockdowns and rising infection rates could hamper Eurozone growth, which could force the ECB to remain dovish for the near-term. Economists don’t expect the first rate increase until 2023 at the earliest. Any hawkish surprise today will let the euro fly.

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.

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

 

Can Powell Meet The Market’s Hawkish Expectations?

Today is the Federal Reserve’s rate decision day and market participants expect the Fed to unveil a quicker tapering of bond purchases that paves the way for interest rate hikes next year. We will remain cautious going into the FOMC announcement at 19:00 UTC tonight.

Expectations are very high and so is the risk for disappointment. The market currently expects the Fed to raise rates next year three times with a 61.5 percent probability of at least three hikes. There is even a 31.8 percent probability of four rate hikes in 2022.

The broad-based U.S. dollar strength remained in-play until today as the market discounted the Fed’s hawkish approach but can the Fed live up to the market’s high expectations? Maybe not as the omicron variant created a bit of concern for economic trends and should the Fed share this concern at today’s press conference, investors could give up on dollar long positions. In terms of rate hike expectations, traders will want to see at least two rate hikes next year via the dot plot matrix to remain dollar bullish.

Anything is possible today and traders are well advised to maintain a cautious approach going into today’s policy decision.

Breakout-Mode

EUR/USD: Below 1.1220, euro-bears could send the pair for another test of 1.12/1.1185. If 1.1180 breaks, bearish momentum could accelerate toward 1.11 and maybe even 1.10 but for such a strong dollar move we would need a hawkish shift from the Fed. In case of a disappointment, we could see a short-squeeze with a test of the resistance zones at 1.1320-40 and 1.14.

GBP/USD: Holding above 1.3120 and 1.31 could pave the way for a reversal toward 1.35 and maybe even 1.37. The Bank of England is expected to hike next and if the dollar’s strength fades, sterling bulls may take the opportunity to push the cable higher.

 

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!

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