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U.S. Dollar Strengthened Against Euro And Pound – Now What?

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Dear Traders,

The euro came down from its most recent high at 1.1720 while Tuesday’s decline in the EUR/USD was mainly due to a strengthening U.S. dollar. We now turn our focus to a day trading range between 1.1685-1.1630 and keep tabs on price breakouts either above or below that range in order to evaluate profitable trading chances in the near-term. If the euro is able to overcome the 1.1715-hurdle again, we expect accelerated bullish momentum towards 1.1820. As for the bears, the 1.1510/00-level remains of crucial importance in terms of a profitable breakout level.

The only piece of economic data today will be U.S. Durable Goods Orders at 12:30 UTC.

The British pound depreciated against the greenback and tested the 1.32-support level. As long as 1.32 holds we turn our focus to a break above the 1.33-handle. Below 1.3190 however, the pound may suffer further losses towards 1.3150 and 1.3070.

Bank of England governor Mark Carney is scheduled to speak about the Financial Stability Report today at 8:30 UTC although he is not expected to drift too far from the subject. Thus, the impact on the pound could be less significant.

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Additional daily and long-term entries are available for subscribers.

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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 2018 Maimar-FX.

www.maimar.co

 

EUR And GBP: Bearish Bias Persists

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Dear Traders,

The euro traded within a 50-pip range between 1.1750 and 1.17 but despite that limited price range we were able to book a good profit with our daily long signal. Looking ahead, there are no major economic reports out of the eurozone in the next days, which is why we keep tabs on the technical picture in the EUR/USD. As long as the euro remains below 1.1790 and 1.1830, we favor a bearish stance in this pair.

The pound sterling rose to a high of 1.3422 after U.K. retail sales came in better-than-expected. However, that report was not enough to trigger a sustained recovery in the pound given that rate hike expectations are unchanged. Thus, the risk remains tilted to the downside.

With the GBP/USD trading below 1.34 and more importantly below 1.3430, the cable maintains its bearish bias, suggesting that sterling prices may continue to fall. We will wait for price breaks below 1.3360 and 1.3340 to anticipate further losses. Lower targets are seen at 1.33 and 1.3270.

Today, traders will watch the U.K. GDP report at 8:30 UTC and U.S. Durable Goods Orders at 12:30 UTC.

We wish you a beautiful weekend or long-weekend for those who have a holiday on Monday.

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/

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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 2018 Maimar-FX.

www.maimar.co

 

 

 

Euro Drops In Thin Pre-Holiday Trade

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Dear Traders,

The euro dropped in early Asia trading after Catalan separatists won the snap election in the region, reflecting once again Catalonia’s desire for independence from Spain. We were able to benefit from the downward move as our short trade hit the larger profit target at 1.1818. As long as the euro remains above 1.1760 we maintain a neutral stance in the EUR/USD. On the upside, a break above 1.1925 could spark some bullish momentum towards 1.1970.

The U.S. dollar slightly weakened against most of its major peers on the back of an unexpected downgrade of the third-quarter U.S. GDP, but the market’s reaction was muted in thin pre-holiday trade. The PCE deflator along with Durable Goods Orders is scheduled for release today at 13:30 UTC but with many market participants already being offline ahead of the Christmas holiday we do not expect larger market swings.

The pound sterling continued to trade within a narrow sideways trading range between 1.3390 and 1.3330 and thus, none of our yesterday’s entries was triggered.

U.K. Q3 GDP figures are scheduled for release at 9:30 UTC but no changes are expected. We expect GBP/USD to trade between 1.3450 and 1.3250 in the near-term.

We wish all traders and readers Merry Christmas and a Happy New Year 2018!

Christmas Trading Break: There will be no signal service during our Christmas holiday break between December 25 and January 4. Our signal service will be resumed on January 4.

 

View our daily signal alerts https://www.maimar.co/category/daily-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 2017 Maimar-FX.

www.maimar.co

 

Pound Drops On Risks Of Hard Brexit But Sideways Trading-Range Remains Intact

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Dear Traders,

Heading into the final trading days of 2017, volatility is expected to remain low in the run-up to the Christmas holiday. There are no significant drivers or market-moving data releases on the economic calendar which is why we recommend taking a cautious approach to new investments now.

The British pound fell to a low of 1.3301 last Friday on risks of a hard Brexit. The second phase of Brexit negotiations between the U.K. and EU will be even harder than the first and investors are skeptical that U.K. Prime Minister Theresa May will achieve a soft landing when U.K. leaves the EU in 2019.

GBP/USD

While we currently favor a sideways trading range between 1.3480 and 1.3280 the risk appears to be tilted to the downside. If the pound falls below 1.3260 we expect further losses towards 1.32. However, even if larger movements are unlikely given the liquidity drain, traders should always expect the unexpected.

EUR/USD: The euro was little changed with the crucial support at 1.17 remaining intact. As long as the euro trades between 1.1920 and 1.17/1.1660 there is nothing new to report.

The economic calendar is relatively quiet this week. The U.S. GDP report (Thursday) may receive some attraction even though no surprises are expected. Traders may also keep an eye on the PCE Index and Durable Goods Orders (Friday) but all these reports might be of less importance as the year draws to a close.

Sterling traders may listen to comments from Bank of England Governor Mark Carney on Wednesday when he speaks at a Parliament Hearing in London.

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/

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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 2017 Maimar-FX.

www.maimar.co

 

Euro Consolidates Pre-ECB While Pound Declines On Brexit Uncertainty

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Dear Traders,

The EUR/USD is still consolidating within a narrow trading range as it waits for the ECB announcement to encourage volatility. Tomorrow’s ECB announcement is expected to bring a cut of the central bank’s monthly purchases to EUR30B but there is speculation that ECB policy makers may favour a dovish taper in the effort of keeping the euro relatively weak. Traders should prepare for more volatile swings now ahead of tomorrow’s highly anticipated event. However, with no new drivers we still expect the EUR/USD to fluctuate between 1.1850 and 1.17.

Sellers in the GBP/USD were able to gain a good profit yesterday with the pound heading for 1.31. The pound declined amid uncertainty around Brexit negotiations between the UK and EU and while the tortuous Brexit talks are continuing to sour the sentiment in the pound, there is a ray of hope – at least in short-term time frames: UK GDP figures (due for release today at 8:30 UTC) are expected to show an economic growth of 1.5 percent year/year that is likely to persuade the Bank of England to hike interest rates at the BoE’s ‘Super Thursday’ next week on November 2.

From a technical perspective, we still see the GBP/USD fluctuating within its crucial price range of 1.32/1.3230 – 1.31. While sustained price breakouts did not happen we still focus on both scenarios; either a bullish breakout above 1.3235 or a bearish breakout below 1.3085.

From the U.S. we have Durable Goods Orders scheduled for release at 12:30 UTC.

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

 

 

U.S. Dollar Strengthens, Trump Tax Plan Back In Focus

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Dear Traders,

The U.S. dollar strengthened against its major counterparts as comments from Federal Reserve Chair Yellen and President Trump bode well for some renewed upward momentum in the greenback. Yellen boosted expectations for a rate hike in December, saying the Fed “should be wary of moving too gradually” in its rate hike cycle. The Fed does not want to surprise markets when raising rates earlier than expected and while the probability of what the market is currently pricing in is still a little bit too low, Yellen seeks to prepare markets for another rate increase this year.

Moreover, the greenback received some boost from Trump’s comments on the long-awaited tax plan. Recent comments included lowering the corporate tax rate to 20 percent from 35 percent while the individual tax rate should be lowered to 35 percent. However, full details of the tax plan have yet to be revealed. Trump is expected to announce his tax overhaul plan today during a speech in Indiana.

Furthermore, U.S. Durable Goods Orders are scheduled for release at 12:30 UTC but this report is not expected to have a major impact on the USD.

From a fundamental perspective, the dollar trade might be preferable now but traders should also pay attention to the technical picture in order to confirm the current forecast.

EUR/USD

The euro dropped below an important support area at 1.1830-1.18. As long as the pair remains well below 1.1830, we expect further losses towards 1.1730 and possibly even 1.1680. For the euro to regain some strength it would need a renewed break above 1.1865 and further 1.19. A resistance is seen at around 1.1970.

The British pound was able to hold above 1.34. If GBP/USD breaks below 1.3380 we anticipate further losses. A current resistance is however seen at 1.3550.

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/

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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 2017 Maimar-FX.

www.maimar.co

USD Crashes Post FOMC; Euro Trades Surprisingly Resilient

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Dear Traders,

The FOMC statement sent the U.S. dollar into a tailspin and drove other major currencies to fresh highs. While the Federal Reserve’s monetary policy announcement came in as expected, the market interpreted it as dovish. The reason was that, the policy statement contained too much concern over inflation to give the dollar a boost. While the Fed indicated that it would start unwinding its balance sheet “relatively soon”, a change in language from “later this year” in the June statement, it said inflation remains below the central bank’s 2 percent target even as near-term risks to the economic outlook appear balanced. That fueled speculation the Fed won’t rush to raise interest rates.

The dollar fell sharply post FOMC and pushed the euro and British pound to new highs. EUR/USD hit a fresh 2-year high on the way to 1.18 while GBP/USD broke above 1.31. Given the strong uptrend, bulls might tend to extend gains to 1.18 in the euro and 1.32 in the cable. Nonetheless, we bear in mind that EUR/USD and GBP/USD are in lofty highs, the risk for stronger pullbacks is thus increased.

U.S. Durable Goods Orders are scheduled for release at 12:30 UTC and could have a short-term impact on the greenback.

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

 

 

 

Euro & Pound: Are We Finally Seeing The Long Overdue Correction?

/in /by

Dear Traders,

Trading has been quiet with the dollar-trade losing its attraction. Fed Chair Janet Yellen did not comment on monetary policy when she spoke at a conference in Washington yesterday and market participants are skeptical about whether President Trump’s pro-growth policies will pass through Congress when Republicans did not even agree on a health-care bill.

U.S. Durable Goods Orders are scheduled for release today at 12:30 UTC but given the uncertain situation in the greenback, we doubt that we will see larger market movements today.

Gains in the EUR/USD were capped at 1.08 and given the fact that the euro was unable to overcome the 1.0820-boundary significantly, we expect further losses towards 1.0730/10. Euro bears should however wait for a renewed break below 1.07, which could send the currency pair tumbling towards 1.0620. On the upside we will focus on a break above 1.0805 which could lead to a subsequent test of the euro’s resistance level at 1.0850.

From the Eurozone we have the Manufacturing PMI reports scheduled for release at 8:30 and 9:00 UTC, but these reports could be of minor importance.

The pound sterling was on a roller-coaster ride after U.K. economic data came in better than expected. The GBP/USD surged from a low at 1.2463 to a high of 1.2531 but sterling bulls were unable to hold onto that high level. A correction was in any case long overdue and so we saw the pound falling back below 1.25. We will now focus on the 1.2430-level. A break below that short-term support could send the pound lower towards 1.2390 and 1.2340. On the topside, a short-term resistance is now seen at 1.25.

We wish you good trades for today and a beautiful 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 2017 Maimar-FX.

www.maimar.co

 

U.S. Dollar Regains Strength, Focus On GDP Data

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Dear Traders,

The U.S. dollar regained some strength Thursday, leading to downturns in the euro and cable. The pound currently faces its support at 1.2550 and sterling bears may wait for breakouts below 1.2530 and 1.2490 to sell sterling towards 1.2450/1.24. For the pound to rally, it may need to climb through the 1.2610-level again.

The euro dropped significantly below 1.07 and our guess of upcoming bearish momentum following a head-shoulders pattern (stated in Wednesday’s analysis) was finally right. Now the euro will need to break below 1.0650 so that we can focus on lower targets at 1.0620 and 1.0590. Below 1.0580 however, bearish momentum could accelerate towards 1.05. Those who are looking for any further upside momentum should rather wait for prices above 1.0720 in order to buy euros. Above 1.0770 a higher target could be at 1.0815.

Today, all eyes will be on important U.S. data such as GDP figures and Durable Goods Orders, both reports are scheduled for release at 13:30 UTC. Fourth-quarter GDP numbers are forecast to show slower growth and if that forecast proves to be correct, we may see further weakness in the greenback.

We wish you good trades for today and a relaxing 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 2017 Maimar-FX.

www.maimar.co

 

 

 

Thin Liquidity Before The Christmas Break?

/in /by

Dear Traders,

We are entering the final trading period of this year while financial markets are gradually becoming quiet.

Now that top-tier event risk is largely exhausted for the remaining trading days of 2016 we saw some corrective price action last Friday with some profit taking in the U.S. dollar. Nonetheless, there was nothing to be gained for us as currency fluctuations have been modest given the year-end liquidity drain. We recommend securing your monthly and annual profits now and trading at a low risk in the pre-holiday period.

From a technical perspective there is the possibility of further corrective movements in the dollar on the back of profit taking, driving the euro towards 1.0530 while the cable may tend to test the 1.2550-resistance level. Above 1.2570 the pound sterling may head for a test of 1.2650/80. A current support is however seen at around 1.2425.

The euro traded consolidated at around 1.0450 and if it holds above 1.0420 we may see a run for 1.0530. Below 1.04 however, we favor a bearish bias targeting at 1.03.

However we do not expect exaggerated movements within the next days and will take potential profits at smaller targets. The economic calendar is very light in terms of market moving data. The most interesting piece of data could be U.S. Durable Goods Orders alongside the final estimate of third-quarter GDP (Thursday), while the German IFO report scheduled for release today at 9:00 UTC could be worth watching for euro traders.

Furthermore, Fed Chair Janet Yellen speaks on the state of the job market today at 18:30 UTC.

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 2016 Maimar-FX.

www.maimar.co