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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.

 

 

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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!