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Greenback Continues Recovery But Today It’s Turn-Around Tuesday

Dear Traders,

The U.S. dollar continued its recovery against all major currency pairs and thus, pairs like EUR/USD and GBP/USD trended lower at the start of this week. While short traders were able to book a profit yesterday we recommend a cautious approach when expecting further bearish momentum. On so-called ‘turn-around Tuesdays’ there is a risk that we may see some pullback following Monday’s decline.

GBP/USD: The cable broke below the psychological level of 1.40 and, as mentioned in our yesterday’s analysis, chances could be in favor of the bears now. A next lower target could be around the 1.39-barrier and if 1.39 breaks, the pound may drift lower towards 1.3830/00.

For bullish momentum to accelerate, the pound would need to climb back above 1.4030.

As for the EUR/USD, we still see the pair trading within its recent sideways trading range while remaining above 1.2335. As long as 1.23 holds, we anticipate pullbacks towards 1.2430/40. Higher resistances are seen at 1.2480 and 1.2540. If the euro, however, falls below 1.2290, we expect further losses towards 1.22.

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Roller-Coaster Day

Dear Traders,

Yesterday can be described as a roller-coaster day in the markets which was not to our liking. News that officials in Beijing, China, have recommended slowing or halting purchases of U.S. bonds have sent the U.S. dollar sharply lower, at least in a short-term. However, the news was not enough to change the current sentiment and thus, the dollar ended the trading pretty much unchanged against the euro and pound.

The price development in the EUR/USD was as expected. We saw a pullback sending the euro toward 1.2020.

We now expect the EUR/USD to trade between 1.20 and 1.1860. Current chances are still in favor of the bears, provided that the euro remains below 1.20. An important support zone is seen around 1.1850 that could be tested before the euro is primed for another leg up.

From the Eurozone we have the German GDP scheduled for release at 9:00 UTC, followed by the ECB meeting minutes at 12:30 UTC.

Trading the GBP/USD has recently proved difficult. From a technical perspective we expect slightly more bearish momentum to come. The pound could fall towards 1.3470 and 1.3450 before buyers are swooping in. A current resistance is however seen at 1.3540-50.

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We wish you good trades and many pips!

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Sterling Traders Focus On U.K. CPI Data

Dear Traders,

We have seen a bit of a bearish reversal in EUR/USD Monday with the U.S. dollar recovering against the euro. Although yesterday’s slide in EUR/USD does not automatically mean that there will be a trend reversal, it should be noted that the technical picture may promise more downside momentum to come. If the euro falls below 1.1920 and further 1.1885 we could see a slide towards 1.1830. On the topside, buyers in the EUR/USD would first need to push the pair above 1.2030 in order to focus on higher targets at 1.21 and 1.2170.

The British pound ended the trading day virtually unchanged against the greenback with GBP/USD remaining confined to a narrow trading range between 1.3225 and 1.3160. Traders await the U.K. CPI report, due for release at 8:30 UTC today and if inflation data shows an uptick in August, the Bank of England may feel pressure to turn away from its dovish monetary policy stance. This would be positive for the pound but most volatility is expected on Thursday when the BoE announces its rate decision and outlook on policy.

If the pound rises above 1.3225 we may see a run for 1.3265. We bear in mind that the August high is at 1.3268, so sellers may sweep in to sell pounds around that resistance level. On the downside, we expect a support to be at around 1.3050.

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We wish you good trades and many pips!

Any and all liability of the author is excluded.

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Euro And Cable Fall In Thin Trading

Dear Traders,

Trading was quiet on Monday with the euro and cable trading within tight trading ranges. Only at the end of the trading day, prices gathered momentum. The euro fell in thin trading below 1.1160 and headed towards 1.11. The cable dipped slightly below 1.28 but was able to hold above that support level. We now expect the 1.2760-level to lend some short-term support to the pound. Above 1.2865 however, the pound could head for a test of 1.2950/60.

EUR/USD

The euro broke below the 1.1160-support and as a result, bearish momentum accelerated. The euro might tend to test the 1.11-threshold before we see a reversal. On the upside we see a resistance at 1.1170 until which potential gains could be limited while on the bottom side, a crucial support area is currently seen at around 1.1080.

Important economic data for today:

12:00 EUR German Consumer Price

12:30 USA PCE Report

14:00 USA Consumer Confidence

(Time zone: UTC)

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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

 

No Hope For Dollar Bulls?

Dear Traders,

We welcome you to a new trading week. Last week ended with a spike high of 1.1212 in the EUR/USD while continuing U.S. dollar weakness remains the dominant market theme. The greenback still struggles to gain ground as political instability fears weigh on the Federal Reserve’s rate hike outlook. Investors fear that political chaos in the Trump administration may derail Trump’s plans for expansionary fiscal policy and thus deter the Fed from raising interest rates.

However, not all hope is lost for dollar bulls and if political uncertainties are abating, shifting the focus back to the administration’s fiscal program, the U.S. dollar could be poised for recovery. In the meantime we will mainly pay attention to the technical outlook in both major currency pairs.

The economic calendar this week is rather light in terms of market moving data. From the U.S., the most interesting pieces of data will be Friday’s GDP figures and Durable Goods Orders following Wednesday’s FOMC meeting minutes. Upbeat minutes may revive the dollar trade with market participants pricing in a more than 80 percent chance that the Fed will raise rates again in June.

The EUR/USD knew only one direction: upwards. From a technical perspective we now expect a next hurdle to come in around 1.13. Below 1.1070, however, the euro may drops towards a test of the 1.10-support.

The cable remained sideways whilst being accompanied by a slight upward tilt. We now expect the GBP/USD to trade between 1.3060 and 1.29.  A break above 1.3070 may send the pound towards 1.32.

Sterling traders should pay attention to any changes in the U.K. GDP figures, scheduled for release on Thursday.

Daily Forex signals:

Additional daily and long-term entries are available for subscribers.

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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 With A Tailwind While The Euro’s Downtrend Ran Out Of Steam

Dear Traders,

Tuesday’s best performer was the British pound which rose towards its next resistance zone at 1.2320/50. The pound was supported by better than expected U.K. CPI data, limiting speculation that the Bank of England will need to ease monetary policy further. After bouncing off the 1.2330-resistance level we recommend sterling bulls to wait for a break above 1.2375 in order to buy GBP towards 1.2425. However, if the pound drops back below 1.2220, we expect increased bearish momentum towards 1.2170/50.

The U.K. Labor Market report is scheduled for release today at 8:30 UTC and any changes in the headline figures could have a significant impact on the GBP/USD.

The EUR/USD however, refrained from trading any lower than 1.0970. On the other hand, the pair was also not able to take the hurdle at 1.1030 which is why the euro remained confined to a narrow sideways trading range. If the euro falls below 1.0940 the bias could change in favor of the bears, driving the pair lower towards 1.0830.

While there are no economic reports from the Euro-zone today the price action could be determined by dollar flows. However, U.S. Housing data (12:30 UTC) and the Fed’s Beige Book (18:00 UTC) might be of secondary importance for traders.

Daily Forex signals:

Additional daily and long-term entries are available for subscribers.

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We wish you good trades and many pips!

Any and all liability of the author is excluded.

Copyright © All Rights Reserved 2016 Maimar-FX.

www.maimar.co

 

 

 

The Calm Before The Storm?

Dear Traders,

With financial markets remaining largely directionless ahead of the key policy decisions in the U.S. and Japan, there was nothing to be gained for traders. Instead, we had to bother with limited movements and false breakouts on Monday, making it an unprofitable trading day. In order to protect the trading capital from huge losses a professional day trader has to know when to adopt a low risk approach and this is precisely what we did yesterday. Consequently, we have not lost much in the mixed market environment.

The euro and British pound ended the day unchanged against the U.S. dollar, so there is nothing new to report from the technical perspective.

U.S. Housing Starts and Building Permits are scheduled for release at 12:30 UTC and this report will be the last piece of U.S. economic data before the Federal Reserve unveils its monetary policy decision.

We are still in a “wait and see” mode and will remain risk-averse ahead of tomorrow’s event.

Daily Forex signals:

Additional daily and long-term entries are available for subscribers.

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We wish you good trades and many pips!

Any and all liability of the author is excluded.

Copyright © All Rights Reserved 2016 Maimar-FX.

www.maimar.co

 

 

 

Euro And British Pound Rebound On U.S. Dollar’s Inconsistency

Dear Traders,

The market remains very quiet with low trading volumes and limited movements. And so it happened that both euro and British pound rebounded against the U.S. dollar after the recent downtrend failed to be sustained as bearish momentum faded. Hence, sterling bears’ efforts didn’t pay off and we had to record some losses with yesterday’s short-entry. Now that sterling trades again above 1.30, the focus shifts to the current resistance levels at 1.3120 and 1.32 from which limit sell orders become attractive. However, if the pound falls back below 1.30 we will focus on a break of 1.2950.

The euro finally climbed above 1.11 and rose towards 1.1160 during the Asian trading session. Our long entry therefore proved to be successful. With no market moving data we doubt that we will see larger fluctuations today. The euro’s price action could thus be limited to 1.12 on the upper and 1.1095 on the lower side. Above 1.12, however, there might be some upside room until 1.1250. An important support zone is still seen around 1.1050.

Daily Forex signals:

Additional daily and long-term entries are available for subscribers.

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We wish you good trades and many pips!

Any and all liability of the author is excluded.

Copyright © All Rights Reserved 2016 Maimar-FX.

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Euro And Cable: Muted Price Development

Dear Traders,

There is nothing new to report as yesterday’s price development was anything but spectacular.

The euro hovered around the 1.15-level while gains were capped at 1.1530. Consequently, euro bulls’ efforts didn’t pay off and we suffered some losses with our long-entry. As expected, the 1.1510-1.1540 zone proved to be a short-term resistance for the EUR/USD and we will now wait for prices above 1.1540 or even better for a break above 1.1565 in order to buy euros. On the bottom side, the 1.1450-level remains in focus and euro bears might have to wait for prices below 1.1440 and 1.1430 before downward momentum may intensifies.

There are no important economic reports from the eurozone scheduled for release today. The only second-tier report from the U.S. will be Continuing and Initial Jobless Claims due at 12:30 UTC.

The British pound initially dropped towards 1.4460 but the downward move was not sustained and so GBP ended the day more or less unchanged against the U.S. dollar. The U.K. Services PMI is scheduled for release at 8:30 UTC and if data disappoints, sterling could fall towards 1.4430.

Daily Forex signals:

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We wish you good trades and many pips!

Any and all liability of the author is excluded.

Copyright © All Rights Reserved 2016 Maimar-FX.

www.maimar.co

 

 

 

Euro And Cable Benefited From Weakening U.S. Dollar

Dear Traders,

The euro and British pound benefited from the weakening U.S. dollar, which fell sharply after U.S. Housing data slumped more than projected in March. Moreover, the euro is currently supported by speculation European Central Bank President Mario Draghi is unlikely to announce further monetary easing at the ECB meeting tomorrow. While the central bank’s easing measures start to take effect, the danger for the ECB is the currency strength of the euro, undermining the economic improvements. Draghi could therefore try to talk down the currency but since the central bank rhetoric has somewhat ceased to have effect, the euro could even extend its recent uptrend instead of being vulnerable to losses.

Ahead of tomorrow’s ECB meeting we expect the euro to range-trade between 1.1410/30 and 1.1335. Above 1.1430, upside extensions are possible until 1.15, whereas below 1.1330, the euro may fall back towards 1.1250/20.

GBP/USD

The British pound climbed above 1.44 but found a current resistance around the 1.4420-level. The U.K. Labor Market report is scheduled for release today at 8:30 UTC and should have an impact on the pound. If data surprise to the upside, sterling could extend its gains towards 1.4450 and 1.4490. However, traders should bear in mind that the currency pair trades near crucial resistance levels and reversals are becoming more likely.

Looking at the 4-hour chart we see an overall downtrend and a current consolidation phase. Prices recently fluctuated within 1.4450 and 1.4050. If GBP is able to break significantly above 1.4430/50, we could see a test of 1.45. However, if the pair refrains from trading above 1.44, we favor the downtrend and focus on lower targets at 1.4310, 1.4260 and 1.42.

Chart_GBP_USD_4Hours_snapshot20.4.16

From the U.S. we have Existing Home Sales and Crude Oil Inventories scheduled for release at 14:00 and 14:30 UTC.

Daily Forex signals:

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We wish you good trades and many pips!

Any and all liability of the author is excluded.

Copyright © All Rights Reserved 2016 Maimar-FX.

www.maimar.co