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Daily Forex Signals

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Dear traders,

The British pound fell like a stone Monday after warnings Brexit talks could fail. For several weeks the market was optimistic that a deal between the U.K. and EU would be reached in order to avoid a ‘hard Brexit’- the worst-case scenario. Talks are at a critical stage and both sides have said they are far apart on key issues. U.K. Prime Minister Boris Johnson headed to Brussels yesterday for urgent talks with European Commission President Ursula von der Leyen to try and get a deal done.

GBP/USD slid to a low of 1.3224 before it recovered losses and consolidated between 1.34 and 1.33. Bulls in this pair should now watch out for a sustained break above 1.34 which could send the pair back towards 1.35 in a first stage – provided that there will be a break of deadlocked negotiations. Bears, on the other side, could wait for prices below 1.3280 to sell sterling towards 1.32.

Euro bulls took a breather Monday and EUR/USD recorded a small setback, sending the single currency below 1.21. The decline was however short-lived and the pair was able to hold above 1.21 (for now). We now expect the euro to trade between 1.2150 and 1.2060-40.

Daily Forex Signals:

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EUR/USD:

We are long at 1.2125

Short @ 1.2080

We wish you good trades!

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Copyright © All Rights Reserved 2020 MaiMarFX.

www.maimar.co

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British Pound Falls On Brexit Concerns

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Dear Traders,

The U.S. dollar ended the month of February higher against other major currencies such as the euro and pound sterling.

Recently, however, it was not only the dollar’s strength that drove major pairs lower. The British pound came under increased selling-pressure as U.K.’s Prime Minister Theresa May rejected a proposed Brexit draft from the EU. The document contained details about the U.K.’s exit from the EU bloc. May is due to deliver a speech tomorrow so the price action in the pound could be volatile or even messy ahead of that speech.

Today, traders will be watching the PCE Core (13:30 UTC), the Fed’s favorite inflation indicator and the Manufacturing ISM report (15:00 UTC). Furthermore, we have a second appearance from Fed Chairman Powell before the Senate Banking Committee today at 15:00 UTC, but the market could remain largely unaffected by today’s testimony.

EUR/USD: The euro dropped below 1.22 but still holds above 1.2165 which means that it finds itself within a crucial support zone. We have the Italian election on Sunday, so investors may take profits ahead of the weekend which could lead to further losses in this pair. As mentioned in previous analysis, the next crucial price level will be 1.2160 and for euro bears it would need a sustained break below that level in order to anticipate further downward momentum. A current resistance area is seen between 1.2250 and 1.23.

GBP/USD: The pound declined on Brexit concerns and we now expect a next lower target to be at 1.36. However, traders should be careful trading the pound as the price action in the pound could become messy ahead of May’s Brexit speech tomorrow. We now expect prices to accelerate between 1.40 and 1.36.

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

 

 

FX Market Less Influenced By Equity Selloff And Subsequent Rebound

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Dear Traders,

The Forex market was less influenced by the selloff in equities at the beginning of this week. While the recent crash and subsequent recovery in equities have sparked a wave of volatility in global markets, the moves in forex have been more conservative.

The EUR/USD remained resilient and ended the trading day virtually unchanged after bouncing off near the 1.2310/00-support level. As long as the euro trades between 1.25 and 1.23 there is nothing new to report.

The GBP/USD dropped amid heightened volatility towards 1.3830 from where a relief rally started, erasing earlier losses with a rebound towards 1.40. At the end of the day, the pound ended the trading unchanged against the dollar. Traders should now prepare for larger swings with Brexit talks and Super Thursday looming.

GBP/USD

Looking at the daily chart we see that bearish momentum is fading after the pound stopped its fall above 1.3830. While we expected lower targets to be at 1.3830 and 1.38, we now prepare for potential pullbacks. If the pound climbs back above 1.40 and is able to stabilize above that threshold, we anticipate further bullish momentum towards 1.42 and possibly even a break above 1.43. That bullish scenario is however not a foregone conclusion as sellers may re-emerge.

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

 

 

 

Pound Breaks Above 1.40 – What’s Next?

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Dear Traders,

The best performer at the beginning of this week was undoubtedly the British pound which took a short glimpse above 1.40 amidst a more upbeat mood among investors regarding Brexit talks. The pound rose to a high of 1.4003 in Asia trading and we are still somewhat skeptical about the potential for further upward movement given an overbought situation. The strong uptrend in the GBP/USD depends not only on the weakness of the U.S. dollar, but also on positive U.K. data.

However, we were able to book a good profit yesterday by trading our long entry.

GBP/USD: Based on the pound’s general strength, we recommend sterling bulls to focus on a price range between 1.4110 and 1.3920. Below 1.3915 we anticipate deeper corrections towards 1.3850.

EUR/USD: The euro traded with a tailwind and rose towards the upper barrier of its current sideways trend channel. If the 1.23-barrier is significantly breached we expect further upside momentum driving the currency towards 1.2365. Current supports are seen at 1.2230, 1.2210 and 1.2165.

The German ZEW Survey is due for release at 10:00 UTC and could have a minor impact on the price action in 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 2018 Maimar-FX.

www.maimar.co

Will Payrolls Help Or Hurt The Greenback?

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Dear Traders,

It’s payrolls day again and today’s U.S. jobs numbers could matter more than usual as investors assess the possibility of a steeper Federal reserve rate hike path in 2018. While the Fed has established a commitment to gradual monetary policy pacing even under the chairmanship of Mr. Powell, job and wage growth will shape the expectations for 2018 tightening. The central bank is expected to endorse a wait-and-see approach in the first half of the next year after a last rate hike in 2017, which is widely expected to be announced on next week’s Fed meeting.

In short, there is a greater risk of disappointment than an upside surprise when coming to the latest job numbers. If job growth comes in below expectations amid slowing wage growth, the dollar will give up its recent gains. If today’s NFP report surprises to the upside, the dollar will continue to rise amid progress on the tax-cut legislation.

Traders around the world will watch the NFP release at 13:30 UTC.

GBP/USD: The pound rose against the dollar on speculation that Ireland and Britain were close to a Brexit deal. U.K. Prime Minister Theresa May will have time until Sunday to resolve the deadlocked Brexit talks. The GBP/USD jumped back towards 1.3520 after it found support at 1.3320. With the pound trading above 1.3330 we now expect the pair to head for a test of 1.3630/50.

EUR/USD: The euro further declined against the greenback and appears to be headed for a test of the falling trendline of its recent downtrend channel. We anticipate a crucial support area between 1.1740 and 1.1710 and if that threshold remains intact we could see some pullback towards 1.1805 and possibly 1.1850.

We wish you profitable trades for today and a cozy and relaxing winter 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

 

Pound Is Flying High, Next Targets To Watch Out For

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Dear Traders,

The British pound extended its gains and jumped higher towards the next hurdle around 1.35-1.3515. Traders who traded the bullish movement yesterday had, however, to struggle with limited upside swings and short-term corrections before the pound was ready for another leg higher. Reportedly, Dublin and London are close to an agreement on the Irish border which will allow Brexit talks to move forward. The Irish border is a main obstacle in separation talks. The latest progress in the divorce talks has thus pushed the pound to fresh highs.

Given the strong rally we anticipate further gains in the GBP/USD. Next higher targets could be at 1.3515 followed by 1.3570. On the bottom side, it would require a renewed break below 1.3250 to reinvigorate bearish momentum.

The EUR/USD found some support near 1.1820 from where a reversal started. As noted in yesterday’s analysis, as long as the euro remains well above 1.18, we favor a bullish bias anticipating higher targets at 1.19 and 1.20. If the euro falls however below 1.1830 and further 1.18, we could see bears taking over.

Euro traders should keep an eye on the Eurozone Consumer Price Index, scheduled for release at 10:00, which could lead to some upside swings in the EUR/USD. From the U.S. we have the PCE deflator scheduled for release at 13:30 UTC which is the Fed’s favored inflation measure.

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

Pound Jumps On Brexit Hopes

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Dear Traders,

Many wondered yesterday what happened to the pound as it jumped more than 150 pips after falling to a weekly low of 1.3220. The high volatility was triggered by reports that the U.K. and E.U. have agreed a deal over the U.K.’s Brexit divorce bill, achieving a breakthrough in Brexit talks. The pound experienced high volatile swings in the wake of these reports and, unfortunately, some of our yesterday’s trades became victims of high volatility.

The GBP/USD could now head for a test of the 1.34-threshold and if the 1.3450-level is breached on the upside we could see sterling rallying towards 1.36. As for the bears, the bearish momentum came to an abrupt end yesterday and it will be difficult to only focus on the technical picture as the pound is mainly affected by Brexit talks.

The EUR/USD traded lower and that bearish bias can be attributed primarily to the demand for U.S. dollars. The Senate tax cut proposal advanced out of committee and toward a floor vote. With the tax reform moving closer towards realization we expect the greenback to receive a further boost. Ongoing concerns about North Korea however, seem to play a minor role for the dollar.

EUR/USD

The single currency faces a crucial support around 1.18 and if this barrier gives way to fresh bearish momentum we could see the euro falling back towards 1.1720. If 1.18 however holds, we anticipate a potential run for 1.20.

What will be important today?

The German Consumer Price Index will be release at 13:00 UTC but this report is not expected to have a major impact on the euro. From the U.S. we have revisions to the third quarter GDP scheduled for release at 13:30 UTC followed by Yellen’s appearance before the Congress at 15:00 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 2017 Maimar-FX.

www.maimar.co