DAX 30 – MaiMarFX

DAX Holds Above 14000

April 20, 2022/in General News & Updates /by MaimarFX

The GBP/USD slipped again below 1.30 but bearish momentum faded quickly which is why we had to record a stop-loss with our sell position at 1.2985. If the cable now remains above 1.2990, we expect further gains towards 1.31. However, negative headlines about the war in Ukraine will weigh on the current market sentiment.

Trading the DAX paid off while we were able to book a good profit with our yesterday’s sell order. Above 14000 we pencil in a higher target at 14500, whereas below 13950, we will focus on lower price areas such as 13600.

Our adding ideas for today 20/4/22:

Long @ 14210

Short @ 14120

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.

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Fed Holds Dovish Line, Focus Shifts To BoE

March 18, 2021/in General News & Updates /by MaimarFX

The Federal Reserve held its dovish line and continued to project near-zero interest rates at least through 2023 while the central bank upgraded its forecasts for economic growth and the labor market. The dot plot showed that seven of 18 Fed officials predicted higher rates by the end of 2023 compared with five of 17 at the December meeting which was a slightly larger group of ‘hawkish dots’.

As for the withdrawal of the ultra-easy monetary policy, Fed Chair Jerome Powell said in a virtual press conference that the time to talk about reducing the Fed’s asset purchases was “not yet”.

While prospects of stronger growth have ignited some concern about higher inflation among investors the Fed expects that a bump in inflation this year will be short-lived.

In a nutshell, the market did not get such a hawkish outcome leading to a shift in the current risk sentiment. Instead, the Fed’s projected policy path and its upgrade of the economic outlook provide a positive backdrop for risk assets, which is why the anti-risk dollar weakened.

Today we will have the Bank of England rate decision at 12:00 UTC. The BoE is expected to leave monetary policy unchanged but volatility could pick up around the time of the decision.

GBP/USD: The technical picture has not materially changed. We will pay attention to price breakouts either above 1.4020 or below 1.3850 and further 1.3780.

DAX: The index hit our bullish target of 14720. If there is no break above 14760, the DAX could be due to a correction now. A higher support is seen at around 14500.

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U.S. Dollar Held Decline After Weak CPI Data

February 11, 2021/in General News & Updates /by MaimarFX

The U.S. dollar held its recent dip after a weaker than expected U.S. inflation report. While inflation has become a major theme in financial markets, price pressures are set to firm in the months ahead as President Joe Biden pushes for major stimulus and consumer spending is expected to accelerate as more are vaccinated.

Yesterday’s best performer was the British pound which rose towards 1.3870 despite the overbought situation in the GBP/USD. While we still believe that a correction is overdue, traders should follow the trend and mark the 1.39-level as a next higher target. Falling back below 1.3820, the cable could head for a test of 1.38. A lower important support area is currently seen at 1.3760-50.

The EUR/USD was steady around 1.2130 while bullish momentum was not enough to push the pair higher than 1.2144. Chances could be in favor of upcoming bearish momentum now unless the euro breaks above 1.2180. For bearish momentum to accelerate we will watch out for a break below 1.2040.

DAX: Bearish momentum accelerated after the index was not able to climb back above 14040. Short traders were able to book a good profit yesterday. For the upward trend to gain traction again we would now need to see a renewed break above 14100 and further 14200 but as long as the DAX remains above 13300 the overall uptrend should remain intact.