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Quiet Friday? Focus on Sunday

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Dear Traders,

There is not much news on the market. Economic developments in Greece and China pose a risk for the financial markets but at the moment, the tone is nevertheless optimistic.

Both of our major pairs ended the day more or less unchanged against the U.S. dollar. While the euro took a short dip below 1.10, it recovered its losses until the end of the day and remained comfortable near 1.11.

The pound sterling remained range-bound and traded between 1.5410 and 1.5345.

What’s important for today?

Not much. The only piece of economic data comes from the U.K. with Trade Balance reports due for release at 8:30 GMT.

The focus will be on the summit of European Union leaders Sunday. EU leaders will determine whether Greece gets a new bailout, or be forced to leave the single currency. With that in mind we may see the EUR/USD opening with a gap again on Monday morning. This time, if the decision is ‘yes’ for Greece, the euro might rally in relief.

EUR/USD

Technically, the sentiment looks more bullish. If the euro is able to trade significantly above 1.1130, it may head for another test of 1.12 and further 1.13. However, below 1.0980 the euro could be vulnerable for further losses.

Chart_EUR_USD_4Hours_snapshot10.7.15

We wish everyone a beautiful weekend and a nice Friday.

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www.maimar.co

 

 

U.S. Economic Data in Focus

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Dear Traders,

Uncertainty dominates the markets which is reflected in the directionless sideways moves of the major currency pairs. These are not good conditions for traders as the lack of a trend does not provide greater profits. In addition, spontaneous and unexpected market reactions pose a greater risk to day-trades. The Greek debt crisis and possible global economic turmoil push back U.S. rate hike expectations, which is a reason why the dollar as a safe haven currency got no strength for a rally either.

On the bottom line, the market has currently no clear focus, neither on an imminent Federal Reserve liftoff, nor on a predictable outcome and the impact of the Greek crisis.

We will have to be patient even if we suffered losses recently. As soon as the general focus shifts again to economic data and rate hike speculations, we expect the market to provide more profitable chances for traders. The next big uncertainty is the Greek referendum on Sunday. Until then currencies may remain trading sideways.

Today’s economic data may trigger some price action:

7:55 EUR German Manufacturing PMI

8:00 EUR Eurozone Manufacturing PMI

8:30 UK PMI

9:30 EUR Eurozone Teleconference (Greece Proposals)

12:15 USA ADP Employment Change

14:00 USA ISM Manufacturing 

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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 2015 Maimar-FX.

www.maimar.co

 

 

EUR/USD lacks direction

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Dear Traders,

Our problem child EUR/USD has been very costly to traders since it lacks direction on Greek risk. The euro’s intraday moves seemed indifferent to the Greek debt talks and provided almost no profitable chances for daytraders. The euro is rather moving sideways, lagging behind profitable trading days. We still need to be patient and wait for greater moves once Grexit finally gets pushed off the table.

Greek saga holds the euro in chains

Yesterday was just another day of negotiations which ended without a deal with no breakthrough in sight. Wednesday’s meeting of euro-zone finance ministers in Brussels broke up in the early morning. Ministers will resume at 1 p.m. local time today. Everyone is hoping now that the current Greek saga comes to a conclusion.

 

 

The British Pound declined against the U.S. dollar, marking a next support at around 1.5665. With no major U.K. economic news releases this week, the price action will mainly hinge on the appetite for U.S. dollars.

U.S. Economic data (second tier reports) and Grexit event risk in focus:

11:00 EUR Eurogroup Finance Minsters Meeting

12:30 USA Continuing & Initial Jobless Claims

13:45 USA Services PMI

(timezone GMT)

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 2015 Maimar-FX.

www.maimar.co

 

 

Solution for Greece today?

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Dear Traders,

The U.S. dollar recovered on an overall positive dollar sentiment. Hawkish comments from FOMC member Powell saying that a first rate hike could come as soon as September, with a second move to follow in December, led further support to the greenback. The market is now shifting again its focus more towards the Fed and a liftoff in September, preferring to be long U.S. dollars rather than euros.

The euro remained weak even as optimism grows that Greece will avert default. Despite the the fact that a deal appeared within reach, a main reason for the decline in the euro is, that the currency became attractive as a funding currency. Eurozone finance ministers will meet again today to try to reach a final agreement to unlock aid.

The pound sterling slid below 1.58 and found a current support slightly above the 1.57-level. The up-trend is still intact. A break above 1.5835 could revive sterling’s strength whereas a significant break below 1.57 could drive the pair towards 1.5630.

The German Ifo Business Climate which is due for release today at 8:00 GMT and later the final Q1 U.S. GDP reading scheduled for release at 12:30 GMT, could be important reports to watch.

Euro-area finance minister’s talks will start today at 7 p.m. in Brussels.

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 2015 Maimar-FX.

www.maimar.co

 

 

EU Emergency Summit: Tough Monday?

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Dear Traders,

Last Friday turned out to be a quite uneventful trading day with both major pairs initially tending downwards but ending the day unchanged against the U.S. dollar.

The euro was supported by 1.13 ahead of today’s EU emergency summit in Brussels. The market is still expecting that in the eleventh hour an agreement between Greece and its creditors will be reached. The euro therefore trades on hopes and optimism about a defining solution. However, we should not underestimate the risk if Greece fails to pay the IMF the 1.5 billion euros which is due on June 30. The outcome of the Greek debt talks will determine how the euro trades the next days. The emergency summit starts at 12:30 local time in Brussels. If no agreement is made today, the next key event risk is the special summit planned for June 25-26.

Asides from Greek debt negotiations, there is a number of U.S. economic reports this week. The most important piece of data will be Durable Goods orders (Tuesday) and the revision to Q1 GDP (Wednesday).

The British Pound knows only one direction: Upwards. The GBP/USD rallied now 10 days without any major pullback. A next resistance is at 1.60 and further 1.6150. Below 1.5835 sterling may correct its recent gains down to 1.5750. There are no major U.K. economic reports scheduled for release this week so traders should focus on the demand for U.S. dollars.

Economic data today:

10:30 EUR Eurogroup Emergency Summit

14:00 USA Existing Home Sales

We wish you a good start to the week and many profitable trades.

 

 

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 2015 Maimar-FX.

www.maimar.co

 

 

Will today’s economic data push the euro towards $1.15?

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Dear Traders,

the U.S. dollar traded lower against the euro and British Pound, as a result of a “patient” Federal Reserve. The Fed has made it clear that there is no rush to raise rates in the next couple of months and also the Eurozone’s concerns about a Greek default are off the table, at least for the short term.

Yesterday afternoon, ECB President Mario Draghi expressed optimism when he said that stimulus starts to a have positive impact on growth. His comments suggest that the ECB may no longer be looking to increase stimulus in the near term.

On the bottom line, there are chances that the euro is prime for a test of 1.15.

While the euro continued to trade sideways within narrow ranges, the British Pound broke above 1.55. We expect further strength up to 1.5585. With a significant break above 1.56 sterling could make its way towards 1.5750.

Today, there is a bunch of important economic data scheduled for release. A decline in U.S. Consumer Prices and Durable Goods Orders could lead to further losses in the USD.

9:55 EUR German Unemployment Data

10:30 UK GDP

14:30 USA Consumer Prices & Durable Goods Orders

timezone: UTC+1

We wish you a good trading day!

Daily Forex Signals:

EUR/USD

Long @  1.1387                   SL           25           TP 20, 50

Short @ 1.1335                   SL           25           TP 30 -40

GBP/USD

Long @  1.5565                   SL           25           TP 20, 40

Short @ 1.5490                   SL           25           TP 20, 40

Daily Signal- performance in pips:

January 2015: EUR/USD: +240 pips, GBP/USD: +200 pips

December 2014: EUR/USD: +405 pips, GBP/USD: +230 pips

November 2014: EUR/USD: + 135 pips, GBP/USD: + 190 pips

October 2014: EUR/USD: + 255 pips, GBP/USD: +390 pips

September 2014: EUR/USD: + 336 pips, GBP/USD: + 424 pips

 

Signal success rate: EUR/USD: 69 %, GBP/USD: 65 %

February 2015

  • EUR/USD: +320  pips
  • GBP/USD: +115  pips

 

Trading Management via email support (Trailing Stops, Risk-/Money Management per trade and Strategy) is only offered to our signal subscribers. Our daily signals will be sent from Mon-Fri at 8:15 (UTC +1) to all subscribers.

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We wish you good trades and many pips!

Please be advised that we are not registered as a forex broker-dealer or an investment adviser. We are neither licensed nor qualified to provide investment advice.

Our daily signals are neither an offer nor a recommendation to buy or sell any of the currency pairs EUR/USD or GBP/USD. The signals are purely hypothetical and have only been prepared for informational and educational purpose and are not intended to be used as a complete source for any trading decision.

Trading may involve significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Any opinions, news, research, analyses, performance strategies, prices, charts or other information are not necessarily predictive of any particular result and do not constitute advice. Past performance is no indication of future results.

Any and all liability of the author is excluded.

Copyright © All Rights Reserved 2015 Maimar-FX.

www.maimarfx.com

 

2014 Expectations with the Fed and Janet Yellen

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Dear traders,

first of all we wish you a happy, healthy and successfully new year 2014!

We hope you had a good start and feel fit for trading with new energy. So, let’s see what we can expect for the beginning of the year:

Now it is confirmed, Janet Yellen will replace Fed chairman Ben S. Bernanke. She is the first woman to head the central bank in its history.

She is supposed to support for Bernanke’s policies that aims for price stability and long-term growth.

And what’s about the tapering?

The committee of the Fed, scheduled to meet January 28-29, probably will cut its monthly bond purchases in $ 10 billion increments over the next seven meetings. The first step towards the exit is taken last month with a reduction of asset purchases from $ 85 billion to $ 75 billion. This could generally lead to a bullish Dollar and maybe to a main downtrend for the Euro as it showed very bearish the first days of January.

EUR/USD

The Euro welcomed the new year with his bearish side. It is still trading on the lower line of its up-trend channel.

Under level 1.3570 we expect more short movement until 1.3485 and 1.3410. Above 1.3700 it may rises until 1.3815.

 

Let’s take pot luck. We will give you daily entries by our signals.

Good trades and many pips!