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EUR/USD & GBP/USD: Range-Bound Price Action

Dear Traders,

There was nothing to gain for traders of the EUR/USD and GBP/USD Monday with both major currency pairs trading flat within tight trading ranges. The euro took a brief glimpse above 1.1210 but was unable to hold above that level. The cable however, traded choppily sideways between 1.2760 and 1.2705 while none of our daily signal entries provided a sustained profit.

Market participants will now focus on an address by Fed chair Yellen at 17:00 UTC. If she does not touch on monetary policy, her speech could have very little impact on the U.S. dollar. During the European trading session, monetary policy and financial stability will remain in focus with Bank of England Governor Carney due to speak at 10:00 UTC.

Furthermore, U.S. Consumer Confidence is scheduled for release at 14:00 UTC.

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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

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

 

 

 

U.S. GDP & Consumer Confidence

This content is for EUR/USD, GBP/USD, DAX and EUR/USD, GBP/USD, DAX members only.
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