Dollar – Page 5

Traders Brace For Higher Volatility This Week

July 24, 2023/in General News & Updates /by MaimarFX

After several days of muted trading conditions, volatility is likely to increase this week, with major central bank decision on tab.

The Federal Reserve is widely expected to raise interest rates by 25bp on Wednesday. Traders’ focus will be on the forward guidance. If the Fed signals a further hawkish bias, the U.S. dollar will receive a boost.

On Thursday, the European Central Bank is also expected to deliver a quarter-point hike but unlike the U.S. dollar, the euro could be at risk of a sharp drop. Given the deterioration of growth in the eurozone, ECB policy makers may sound less committed about further tightening.

Last but not least, traders will assess the June PCE data on Friday. A higher reading would argue in favor of additional Fed tightening, and thus, benefit the greenback.

Summer doldrums: We advise traders not invest too much or doing a trading break since volatility typically remains at very muted levels during the summer months of July and August. When volatility is low, there is more to lose than to gain.

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.

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Bullish Bias

July 13, 2023/in General News & Updates /by MaimarFX

We saw some bullish breakouts yesterday with the pound sterling rising towards 1.30 and the euro breaking above 1.11. Also, the DAX headed, as expected, towards 16000 and finds itself currently at around 16050.

The reason for the bullish bias was a slower-than-expected U.S. inflation print in June. This reinforced the market’s assumption of a nearing end of the Federal Reserve’s tightening cycle. The greenback thus weakened against other peers.

Traders should brace for upcoming corrections in short-term time frames, even though the latest bullish moves appeared to be strong – paving the way for a continuation of the uptrend.

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.

Our trading ideas for today 13/7/23:

EUR/USD

Long @ 1.1160

Short @ 1.1125

GBP/USD

Long @ 1.3020

Short @ 1.2980

DAX® (GER40)

Long @ 16060

Short @ 15970

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.

We wish you good trades!

Any and all liability of the author is excluded.

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Further U.S. Dollar Weakness Ahead?

July 10, 2023/in General News & Updates /by MaimarFX

Friday’s U.S. Job report surprised to the downside with 209k versus a 225k forecast. The latest job print validated market expectations of a last 25bp Federal Reserve rate hike this month to conclude the overall hiking cycle. The U.S. dollar weakened against the euro and British pound.

Let’s take a look at the technical picture.

GBP/USD – The start of a bullish continuation?

The pound strongly rose towards 1.2850- the recent resistance-area – on the back of a weakening dollar. Looking at larger time frames, we pencil in a next higher target at 1.30 – provided that the pair holds above 1.26 (the lower ascending trendline). However, we bear in mind that the pair entered overbought territory, making it more vulnerable to corrections.

EUR/USD – Hiding within a consolidation range

There are more interesting things in the market than watching the euro’s sideways movement. The pair remains consolidated in a 500-pips trading range between 1.11 and 1.06. Bulls will focus on a recent support at 1.0850 and as long as it holds, we could see a test of the upper resistance area.

DAX – Breaking below 15600

For the first time in three months, the index broke below its recent support at 15600. Given the strength of the latest downward move we expect some further downside momentum toward at least 15400. For a bullish return, it would need a significant break above 15700. A higher target could then be at 16000.

Daily Forex and DAX Signals:

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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.

We wish you good trades!

Any and all liability of the author is excluded.

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Summer Doldrums

July 6, 2023/in General News & Updates /by MaimarFX

As expected, volatility remained at very muted levels in the past three days. Even though the focus now shifts to the U.S. jobs data, we recommend traders not to invest too much or consider a summer trading break.

The Federal Reserve minutes reinforced the central bank’s hawkish stance with almost all Fed officials indicating that further tightening is likely. The dollar received a slight uplift yesterday.

EUR/USD: As long as the euro remains below 1.1050, we favor a bearish bias with a lower crucial target at 1.05.

GBP/USD: The cable consolidated between 1.2760 and 1.2590. We will wait for price breakouts above or below this range.

DAX: The index corrected its recent gains and fell back below 16000. As long as it remains above 15700, we anticipate a bullish swing back until at least 16150.

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.

We wish you good trades!

Any and all liability of the author is excluded.

www.maimar.co

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Low Volatility Ahead?

July 3, 2023/in General News & Updates /by MaimarFX

Last week ended with an increase in risk sentiment with the euro and British pound strengthening against the U.S. dollar and the DAX jumping back towards 16200. Friday’s U.S. PCE index came in lower-than-expected, erasing recent gains in the dollar.

The U.S. markets will be shut for the Independence Day holiday tomorrow, which could result in a quiet trading session to the start of the week.

On the economical docket, the only interesting data release will be the U.S. labor market report on Friday.

We bear in mind that the summer doldrums now in July could lead to quieter trading conditions and less chances to profit. Traders should therefore not invest too much, trade with smaller positions or just take a summer trading break.

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.

We wish you good trades!

Any and all liability of the author is excluded.

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Bearish Bias

June 7, 2023/in General News & Updates /by MaimarFX

The U.S. dollar has been regaining some strength against the euro and British pound.

GBP/USD: For the bearish bias to continue, we would need to see prices below 1.24 but more importantly below 1.2340. However, as long as the pair trades below 1.2550, the outlook remains bearish.

EUR/USD: The pair was able to hold above 1.0630 but gains were capped at 1.0780. Below 1.07, we favor a bearish bias with a next lower target at 1.0550.

Elsewhere, the consolidation of the DAX continues between 16300 and 15600.

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.

We wish you good trades!

Any and all liability of the author is excluded.

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All Eyes On NFP Data

June 2, 2023/in General News & Updates /by MaimarFX

It’s payrolls day in the U.S. and traders eagerly wait for the job numbers of May. A solid job print could increase chances in favor of further Federal Reserve tightening instead of rate cuts.

The euro regained some strength against the U.S. dollar but we bear in mind that the 1.0780-area could act as a short-term resistance. For a bullish reversal we would need to see prices above 1.0850.

The British pound is currently testing the 1.2550-hurdle. Since it entered overbought territory, we expect some corrections soon.

U.S. non-farm payrolls are set to be released at 12:30 UTC.

If you want to know if and how we trade this important monthly release, subscribe to our signals.

We wish you a beautiful weekend!

We will be back on Tuesday!

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.

We wish you good trades!

Any and all liability of the author is excluded.

www.maimar.co

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Gespräche um U.S. Schuldenobergrenze

May 22, 2023/in General News & Updates /by MaimarFX

Willkommen zu einer neuen Handelswoche.

Die Hoffnung auf eine Einigung in Washington zur Anhebung der Schuldenobergrenze, um einen katastrophalen Zahlungsausfall zu vermeiden, hat dem US-Dollar Auftrieb gegeben. Obwohl jeder weiß, dass eine erneute Anhebung der Schuldenobergrenze keine Lösung für die Haushaltsprobleme der USA darstellt, besteht für das Land ein erhebliches Risiko, ohne eine Anhebung der Schuldenobergrenze in den ersten beiden Juniwochen in Zahlungsverzug zu geraten.

Die Gespräche über die US-Schuldenobergrenze dürften daher die Marktstimmung in dieser Woche dominieren. Weitere interessante Daten könnten die Inflationsdaten aus Großbritannien (Mittwoch), das BIP für das erste Quartal in den USA (Donnerstag) und der U.S. PCE-Index (Freitag) sein.

EUR/USD: Der Euro hat bei etwa 1,0750 eine kurzfristige Unterstützung gefunden. Sollte die 1,0760 durchbrochen werden, liegt das nächste Ziel bei 1,0715. In der Zwischenzeit und bei einem Verbleib über 1,08 erwarten die meisten Händler eine Korrektur in Richtung 1,09.

GBP/USD: Das Pfund Sterling hat seinen Ausverkauf verlangsamt und konnte sich über 1,24 halten. Solange diese Marke hält, rechnen wir mit einer Erholung in Richtung von mindestens 1,2550.

DAX: Aufladen der Batterien vor einer neuen Bullenbewegung

Der Index korrigierte leicht, nachdem er ein neues Hoch bei 16334 erreicht hatte. Während die Bullen in den Startlöchern für eine weitere Aufwärtsbewegung zu stehen scheinen, befindet sich der Index derzeit im überkauften Bereich, was die Chancen für eine Korrektur in Richtung 16000 erhöht. Die Bullen benötigen jedoch mehr Kraft, um die 16350er-Marke signifikant zu durchbrechen, weshalb wir eine Art Konsolidierung erwarten, bevor das bullisches Momentum wieder zunimmt.

Wenn auch Sie wissen möchten, wo wir unseren Stopp-Loss und Take-Profit setzen und ob wir an einem bestimmten Tag handeln oder nicht, sowie wie wir unsere Positionen managen, dann abonnieren Sie unseren Signalservice.

Wir wünschen gute Trades!

Der Inhalt des Beitrags spiegelt die persönliche Meinung des Autors wider. Dieser übernimmt für die Richtigkeit und Vollständigkeit keine Verantwortung und schließt jegliche Regressansprüche aus. Dieser Beitrag stellt keine Kauf- oder Verkaufsempfehlung dar.

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U.S. Debt Ceiling Talks

May 22, 2023/in General News & Updates /by MaimarFX

Welcome to a new trading week.

Hopes of a deal in Washington to raise the debt ceiling to avoid a catastrophic default have buoyed the U.S. dollar. However, while everyone knows that raising the debt ceiling once again is not the solution of the U.S.’s fiscal problems, the country faces a significant risk of defaulting on payment obligations within the first two weeks of June without a debt ceiling increase.

Thus, U.S. debt ceiling talks are likely to dominate the market sentiment in this week. Furthermore, interesting data releases could be U.K. inflation data (Wednesday), U.S. Q1 GDP (Thursday) and the U.S. core PCE price index (Friday).

EUR/USD: The euro found a short-term support at around 1.0750. If 1.0760 breaks, a next target will be at 1.0715. In the meantime, and remaining above 1.08, most traders expect a correction towards 1.09.

GBP/USD: Sterling has slowed its sell-off and was able to hold above 1.24. As long as this handle holds, we anticipate a rebound towards at least 1.2550.

DAX: Recharging batteries before a renewed bull run

The index slightly corrected after hitting a fresh high at 16334. While bulls seem to be in the starting holes for another leg up, the index is currently in overbought territory, increasing the chances for a correction towards 16000. However, bulls need more strength to break the 16350-handle significantly which is why we expect some kind of consolidation before bullish momentum increases again.

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.

We wish you good trades!

Any and all liability of the author is excluded.

www.maimar.co

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Focus This Week On U.S. CPI And BoE

May 8, 2023/in General News & Updates /by MaimarFX

Last week was characterized by an U.S. dollar decline on optimism that the Federal Reserve is near the end of its tightening cycle. On Wednesday, U.S. CPI data for April will show whether inflation has eased according the forecast to 5.5 percent in April from 5.6 percent in March, backing the hawkish market assumption.

Friday’s strong U.S. jobs report triggered a scaling back in Fed rate cut speculation for July, down to 36 percent from a 60 percent chance for a rate cut before the data. If CPI comes in higher, the dollar might regain some strength as the market has to reassess its rate cut speculation.

On Thursday, the Bank of England is expected to raise interest rates by another 25bp. With U.K. inflation still high at 10.1 percent, the BoE is likely to remain hawkish.

GBP/USD

The cable has hit the next higher target at 1.2650 while remaining within its recent uptrend channel. If the pair now breaks above 1.2675, we could see an extension towards 1.2720 but caution is advised. The pair entered overbought territory and is due for a correction. A support is seen at around 1.25.

Waiting for breakouts in the EUR/USD and DAX…

EUR/USD: A sustained break above 1.11 or below 1.09 is needed to revive momentum after days of consolidated movement.

In the DAX we still wait for a sustained break above 16000 which could lead to a run for 16300. On the downside, a recent support area remains intact between 15700 and 15600.

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.