Posts

U.S. Dollar Rebound

The U.S. dollar rebounded against the British pound and the euro following hawkish comments from Federal Reserve Chair Jerome Powell.

The Fed chairman said at a central banking forum in Sintra, Portugal, that more tightening is coming and that a broad majority of Fed officials support two additional rate hikes this year. Furthermore, he admitted that he doesn’t expect core inflation to get to 2.0 percent until 2025. This could mean no rate cuts next year. Tomorrow’s PCE deflator could be of particular interest in terms of more clarity on the inflation outlook. A surprise to the upside could bolster the greenback.

Many traders, however, remain doubtful about a renewed round of tightening.

GBP/USD: The cable sold off towards the 1.26-support. If the pair now slips below 1.2580, we will turn our focus to a next lower target at around 1.2510. Bulls on the other side, will keep tabs on prices above 1.2770 in order to buy pounds toward 1.2850.

Looking at our signal performance in June we can say that it has been a highly profitable trading month with +188 pips in the GBP/USD, +47 pips in the EUR/USD and +247 points in the DAX. We will therefore not reinvest our monthly profits during the last two trading days of the month.

We hope that you were also able to profit in the markets in June and wish you many more profitable trades to come.

 

Daily Forex and DAX 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.

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 2023 MaiMarFX.

www.maimar.co

Follow us on social media:

Facebook

Twitter

Instagram

U.S. Dollar Trades Slightly Higher Against Major Peers

The U.S. dollar traded slightly higher against other major peers Tuesday.

The British pound retreated from its high around 1.4250 and fell back below 1.42, trending lower towards 1.4140. While much of yesterday’s downward move can be attributed to the dollar’s rebound ahead of Friday’s NFP report, concern over a new coronavirus strain in the U.K. contributed to the bearish movement.

If the GBP/USD falls below 1.4120 we expect further losses towards 1.4050 whereas a renewed break above 1.42 could lead to a test of 1.4270 and possibly even 1.4320.

There is nothing new to report in the EUR/USD and we continue to watch out for prices between 1.23 and 1.2080.

DAX: As expected, the index found a short-term resistance at around 15680 from where we saw a slight reversal. A next higher target is 15700. On the downside, we expect the price area between 15250-15150 to act as a support.

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

GBP/USD: Prepare For Higher Volatility Around May Speech

Dear Traders,

Thursday has been a challenging trading day for traders of the EUR/USD and GBP/USD as the U.S. dollar suddenly u-turned after U.S. President Donald Trump promised to impose tariffs on steel and aluminum imports. The dollar significantly depreciated against the euro after the EU said that it will “react firmly to Trump’s tariffs”. Trump’s announcement has brought to the fore the next escalation in trade wars which could be a permanent downgrade for the greenback. Hawkish rhetoric from New York President Dudley took a backseat to fears of a trade war.

Neither major currency pair provided a sustained profit yesterday while we had to struggle with false breakouts and choppy swings. However, we hope for more profitable trading conditions today while the focus will be on the British pound.

GBP/USD

The pound tumbled after U.K. Prime Minister Theresa May rejected the EU’s Brexit draft Wednesday and now the market is waiting for more clarity on the U.K.’s demands of late. Theresa May is delivering the sixth and final “Road to Brexit” speech today, detailing the Government’s plans for the U.K. outside the EU. The time for May’s speech has yet to be scheduled.

We expect higher volatility in the GBP/USD but advise caution as the pound is known for its exaggerated volatile swings.

We wish you good trades and a wonderful 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 2018 Maimar-FX.

www.maimar.co

 

 

No Love For The U.S. Dollar On Valentine’s Day

Dear Traders,

There was no love for the U.S. dollar on Valentine’s day, so the greenback ended up losing ground against the euro and pound despite better-than-expected U.S. inflation data. As expected, the U.S. CPI report had a major impact on the dollar, driving it sharply higher right after the report came out above expectations. The dollar rally did not last long, however, as stocks began to trade higher and that better atmosphere resulted in a sell-off of the dollar.

In general, even if yesterday’s CPI did beat estimates, the inflation data seems unlikely to change the pace of Fed tightening. Therefore, we may see continued dollar weakness in medium-term time frames.

Both EUR/USD and GBP/USD launched sharp recoveries after marking fresh supports.

EUR/USD: The euro dropped to a low of 1.2275 before bears were handing over control to the bulls. That shift in sentiment has sent the euro sharply higher and we now see the single currency trading around 1.2480 following yesterday’s 2-percent-surge. For traders it will now be interesting whether the euro is able to take out the next hurdle at 1.2485 before it faces the resistance zone between 1.2515- 1.2540. A break of these barriers might be possible but given the absence of fresh catalysts bullish momentum might be running out of steam. A current support is still seen at 1.23.

GBP/USD: The pound broke above 1.40 after finding support at the round number of 1.38. For bullish momentum to accelerate the pound will need to break above 1.4070. A higher target could then be at 1.4150. As long as 1.38 holds, chances are in favor of the bulls.

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

 

Dollar Strengthened Amidst Quiet Trading Environment

Dear Traders,

The U.S. dollar regained some strength and rose against the euro and British pound Monday. However, yesterday’s rebound in the dollar is still not significant enough to alter the technical outlook, thus far.

The euro fell toward 1.1350 and with U.S. markets being closed for the Independence Holiday today, we expect the EUR/USD to remain trading between 1.1440 and 1.13. If the euro dips below 1.1325 we anticipate increased bearish momentum towards 1.1290. For euro bulls to regain control, the euro will need to take the hurdle at 1.14 significantly.

The pound sterling came off its highs but found some halt near 1.2930. If the cable slides below 1.29 we expect a next support to be at around 1.2860. On the topside, the pound will need to break above 1.3030 in order to encourage sterling bulls for a test of 1.3060 and 1.31.

The U.K. Construction PMI is scheduled for release at 8:30 UTC and this is already the only piece of data today.

It is the U.S.  Independence Holiday today and trading is expected to be quiet.

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