Posts

Growing Optimism

The market is turning slightly bullish amid growing optimism that the world is nearing the end of the pandemic. This comes as a result of a decline in omicron cases, the drop in the Covid mortality rate and the stance in the U.K. where Prime Minister Boris Johnson is ready to ease Covid restrictions as infections and hospitalizations fall. These are the major factors driving the positive sentiment in the beginning normalization phase.

We saw a slight risk-on mood Wednesday with both EUR/USD and GBP/USD trending to the upside. The DAX still finds itself below 16000 but as long as the support-area around 15500-15300 holds it’s just a matter of time when bulls are able to overcome the 16000- and further the 16300-hurdle.

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.

Try out our new signals for cryptocurrencies:

ETH/USD

Long @ 3160

Short @ 3110

We wish you good trades!

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.

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

U.S. Dollar Weakness As The Main Driver For Euro And Sterling Gains

The U.S. dollar underperformed against its major counterparts last week amid elevated risk appetite.

The economic docket for this week is fairly light, which is why our focus will be on the technical picture, rather than on the fundamental backdrop.

EUR/USD – Euro gains as a result of the greenback’s weakness

We got a bullish breakout with the pair exiting its recent downtrend channel and clearing the 1.14-resistance. The pair could now be creating a new short-term upward trend channel ranging from 1.15 to 1.13. Euro bulls that dream of a run for 1.16 should wait for an upside break above 1.1530. However, given the fact that the euro was a benefactor of broad U.S. dollar depreciation, rather than strength on its own merit, further gains might be on a shaky ground. For bearish momentum to accelerate and driving the euro back into sell-mode we would need to see a break below 1.1250 but more importantly below 1.12.

GBP/USD – Political instability has no impact on the British pound – at least not until now

While U.K. Premier minister Boris Johnson is facing a tough time, the pound benefits on a softer greenback and shows almost no reaction to a potential ousting of Boris Johnson. Since the pound posted an almost straight-lined upward movement, we expect a correction to happen soon. A break below 1.3650 could lead to a drop toward 1.36, a potential short-term support. We will then focus on a break below 1.3560 with a lower target seen at 1.35. On the upside and if the potential 1.36-support remains intact, the 1.38-mark could act as a resistance.

 

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

 

 

British Pound Depreciates After Fresh Restrictions

Wednesday’s worst performer was the British pound which fell to an annual low after U.K. Prime Minister Boris Johnson tightened pandemic rules. Traders were able to profit with our short entry at 1.3230. If GBP/USD is unable to stabilize above 1.3250, we expect at least a test of 1.3150. Falling below 1.3140 will shift the focus to the lower crucial 1.30-mark.

Traders should brace for heightened volatility in the next days as we have tomorrow’s U.S. consumer inflation numbers on tab followed by a crucial Federal Reserve meeting next week.

The EUR/USD recovered some of its recent losses after the 1.1230-zone proved to hold as a support. The pair now faces a crucial resistance area between 1.1370 and 1.1430 that could attract sellers.

 

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.

 

Try out our new signals for cryptocurrencies:

ETH/USD

Long @ 4390

Short @ 4340

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

The Rise And Fall Of The Pound Amidst Political Turmoil

Dear Traders,

The biggest story on Monday was the rise and fall of the British pound which were due to political headlines. After Davis’ resignation, Boris Johnson and Steve Baker followed, who did not support Theresa May’s less aggressive so-called ‘soft Brexit’ approach. This throws the stability of the U.K. government into question. Any signs that Brexit negotiations could be delayed due to political uncertainties, could increase the pressure on the pound.

GBP/USD: The pound rose to a high of 1.3363 before the sharp decline happened that sent sterling back towards a test of 1.32. A significant break below 1.32 could spur bearish momentum towards 1.3150 and 1.31. For bullish momentum to resume we would need to see a sustained break above 1.3320.

The euro reversed shy off 1.18 but found some short-term support at 1.1730. ECB President Mario Draghi reiterated his warning that trade wars pose the greatest risk to growth and stability. From a technical perspective, we will keep tabs on a break below 1.17 as long as the euro proves unable to overcome the 1.18-hurdle.

Today, traders will watch first monthly estimate of the U.K. GDP at 8:30 UTC. From the eurozone we have the ZEW Surveys due at 9:00 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/

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 2018 Maimar-FX.

www.maimar.co

Greenback Strengthens Pre-NFP

Dear Traders,

Finally, the U.S. dollar returned to its former strength pre-NFP with also EUR/USD joining the downward trend. The euro gave way to the strengthening dollar and thus, EUR/USD dropped below 1.17 after gains were capped at 1.1780.

The main topic in the market was however the fall of the British pound which came under severe downward pressure after chaotic U.K. politics put the country’s outlook on very shaky foundations. The pound came under selling pressure after UK Prime Minister Theresa May put in a disastrous performance at the annual conference of her Conservative Party. Her speech was disrupted by prankster and then by a coughing fit. That disastrous speech weakened her position as PM while the idea of replacing May in the middle of Brexit negotiations is widely viewed with horror. A replacement by Brexit hardliner Boris Johnson could make a deal with the EU harder rather than easier to reach.

The GBP/USD fell below important support-levels at 1.3150 and 1.31 and could now be headed towards a test of 1.30.

Today, all eyes will be on the Non-farm payrolls report scheduled for release at 12:30 UTC.

The U.S. September Employment report is expected to show a weaker reading due to the impact of hurricanes on southern states. Meanwhile, comments from Fed officials reinforced optimism ahead of the jobs report, saying Fed policymakers “pencil in” a rate hike in December and three hikes next year. The priced-in probability of a December rate hike is currently at 75 percent.

If payrolls beat expectations, the greenback will receive a boost and could further rise against the euro and pound.

If you want to know how we trade the payrolls release sign up for our daily signal service.

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