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Euro Jumps On Migration Deal At EU Summit

Dear Traders,

There was nothing to gain for day traders on Thursday with the price action in both major currency pairs EUR/USD and GBP/USD remaining limited to a tight trading range. Rather, we suffered losses while trying to benefit from the choppy swings yesterday. The moderate market development can be attributed to lacking fundamental headlines, while the first day of the EU Leaders summit ended without a deal on migration issues. However, those that had a look at the market in today’s early trading hours may have wondered what happened to the euro which showed an impressive rise towards a high at 1.1666. News that EU leaders have reached a deal on migration at the summit spurred the euro’s bullish price action in early Asian trading. The euro jumped at the prospect of the deal defusing a dispute over how to share the burden of immigration within the EU.

EUR/USD: As stated in yesterday’s analysis, as long as the 1.15-support holds we expect the euro to test the 1.17-resistance and possibly even the 1.18-handle.

GBP/USD: The pound rose in tandem with the euro this morning but was unable to overcome the short-term resistance at 1.3130, at least until now. A break above 1.3130 could result in an upswing towards 1.3150/70 whereas a renewed break below 1.3060 could lead to a test of 1.30.

Today we will watch the U.K. GDP Report, due at 8:30 UTC, followed by the Eurozone Consumer Price Index (9:00 UTC) and the U.S. PCE Index (12:30 UTC).

Have a wonderful weekend.

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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.

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U.S. Dollar Weaker Ahead Of NFPs

Dear Traders,

The best performing currency pair on Thursday was the EUR/USD, which took another glimpse above 1.25 but was yet unable to hold that level. Our yesterday’s long signal has proved profitable while euro bulls lie in wait for a next leg up, targeting at 1.27. The question whether the single currency could be vulnerable to further gains will mainly depend on the demand for dollars following today’s U.S. labor market data.

One reason for the euro’s surge were reports that some ECB policymakers are pushing President Mario Draghi to give investors clearer guidance on when rates might rise. In a nutshell, these rumors confirm that the ECB is comfortable with the euro’s appreciation.

The most prominent event risk on the last trading day of this week will be the January Non-Farm Payrolls at 13:30 UTC and if payrolls exceed expectations combined with an uptick in wage growth we could see the dollar recovering some of its recent losses. However, traders should bear in mind that given the dollar’s strong downtrend, market participants might be inclined to sell USD at higher levels.

Recently, the release of the monthly NFP report failed to generate extreme volatility in the market, which is why traders now brace for a more muted market reaction. Whatever the case, we will prepare for both bullish and bearish scenarios.

EUR/USD

The current uptrend channel is still intact and after the euro refrained from falling below 1.2385 the chances are in favor of further bullish momentum, driving the pair towards 1.2650 and possibly 1.27.

GBP/USD: There has been no significant correction in the recent performance of the cable with the pair following a clear uptrend. How the cable will trade within the next hours will however depend on the outcome of the payrolls. If the pound finds its way above 1.43 we focus on higher targets at 1.4380 and 1.4450. For bearish momentum to accelerate, the pound would first need to fall below 1.4220 and further 1.4185.

Have a beautiful weekend!

Daily Forex Signals:

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

View our daily signal alerts http://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

The Euro’s Fate Is In Draghi’s Hands

Dear Traders,

What a trading day! The U.S. dollar extended its slide against other major currencies on the back of protectionism while the pound’s rally intensified the uptrend in GBP/USD.

Moreover, comments from U.S. Treasury Secretary Steve Mnuchin steepened the dollar’s dive. He said that” obviously a weaker dollar is good for us as it relates to trade and opportunities”, a departure from America’s traditional strong dollar policy.

Our yesterday’s long entry in the GBP/USD has proved highly profitable even though we have been on the lookout for corrections. Despite the cable’s strong uptrend which could persist over the medium-term, we may see some pullback tomorrow when both U.K. and U.S. GDP reports are due for release.

GBP/USD

The pair jumped to the highest level since June 23, 2016 – the day of the Brexit referendum. The reasons for the strong rally lie not only in the weakening dollar but also in good U.K. data and the progress in Brexit talks. On a weekly basis we got a bullish breakout suggesting that there could be accelerated bullish momentum on the way towards 1.46 – the next crucial resistance zone. As long as the pound remains above 1.40, the overall outlook remains constructive.

While the biggest story was the pound’s strong rise, the performance of the euro was not bad either. The euro broke above 1.2350 and headed towards 1.2450 ahead of the ECB meeting. Whether the euro can hold onto its high levels or can even extend its rally, will hinge on the rhetoric of Mr. Draghi at the ECB press conference at 13:30 UTC.

If ECB President Mario Draghi joins the chorus of policymakers speaking against the euro’s strength, the euro could quickly give up some of its gains. However, the devil is in the details and if Draghi fails to convince the market of the ECB’s concerns about the currency’s strength, the euro could further rise.

EUR/USD

We prepare for higher volatility today and expect larger market swings. On the topside, we will now focus on the 1.2460-barrier, which could act as a short-term resistance. For bearish momentum to accelerate, it would need a break below 1.23 and further 1.22. As long as the euro remains above 1.23 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 http://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

 

EUR And GBP: Bearish Reversal Ahead?

Dear Traders,

We saw some profit taking Tuesday with both euro and pound giving up some of their recent gains versus the U.S. dollar. We were thus able to pocket some profit with our short entries. The modest rebound happened before both currency pairs were poised for another bullish run towards higher highs. In thin Asia trading the euro took a short glimpse above 1.23 but was unable to hold above that level. The pound sterling climbed to a high of 1.3836 before it dropped back below the 1.38-barrier.

Whether we will see further gains in the EUR/USD and GBP/USD depends on the market’s risk appetite for euros and pounds. The euro recently received a boost from speculation, the ECB could end its bond-buying program earlier than the market currently expects but we bear in mind that it is a sensitive time for the ECB. A strengthening euro could damp prices, giving ECB policy makers an excuse to keep monetary policy steady, at least until after the end of QE, which is set to expire in September.

Apart from fundamental drivers, we keep tabs on technical barriers. On a daily basis, both pairs are still overbought, increasing the chances of steeper corrections. For the time being we expect the EUR/USD to trade between 1.2350 and 1.21.

Traders should keep an eye on the Eurozone Consumer Price Report today at 10:00 UTC.

The British pound remained below 1.3850 and as long as that barrier holds, we see chances in favor of a bearish reversal, provided that the cable drops below 1.3730. Lower targets could be around 1.3690 and 1.3610.

Daily Forex Signals:

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

View our daily signal alerts http://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

 

USD Weakness Sends EUR And GBP Soaring

Dear Traders,

While the House passed its version of tax bill Thursday, the U.S. dollar was little impressed and plunged during the Asian session amid low trading volumes.

The EUR/USD traded higher in the early European trading hours and we now focus on the 1.1850-barrier, which could prove crucial in terms of further bullish momentum. If the euro is able to stabilize above 1.1850, the next target is 1.1905. Sellers should, however, wait for a break below 1.1720 in order to sell euros towards 1.1670 and 1.1580.

Most attention will be paid to a speech of ECB President Mario Draghi today at 8:30 UTC, which could affect the euro’s price action.

The British pound soared on new Brexit optimism. After the U.K. has shown a “willingness to conclude a positive outcome” according to German MEP Manfred Weber, the EU is growing more confident that the current Brexit impasse will be broken and that exit talks will progress. While there might be some room for further gains in the GBP/USD, we bear in mind that as long the pair remains range-bound between 1.3340 and 1.30 there is no directional bias.

We wish you a nice weekend.

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

View our daily signal alerts http://www.maimar.co/category/daily-signals/

Subscribe to our daily signal service http://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

USD Crashes Post FOMC; Euro Trades Surprisingly Resilient

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 http://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

 

 

 

Profitable Trading Month June

Dear Traders,

The euro and British pound extended their rallies and further strengthened against the struggling U.S. dollar. With the European Central Bank and the Bank of England gradually shifting the tone toward a more hawkish stance, the euro and pound benefited against the greenback.

The EUR/USD approaches 1.15 and if U.S. key inflation data due at 12:30 UTC misses, we could see at least a test of the crucial 1.15-level. The PCE deflator is considered the Federal Reserve’s favorite inflation gauge and analysts expect the annual rate slowed to 1.4 percent.

The EUR/USD trades currently at 1.1445 and if the pair passes 1.1470, we could see the euro heading for a test of 1.15 and possibly even 1.1550. Sellers of the EUR/USD should either enter at higher resistance levels, taking advantage of potential pullbacks or wait for a decline below 1.1370.

Euro traders should keep an eye on the Eurozone Consumer Prices scheduled for release at 9:00 UTC.

The GBP/USD was able to hold above 1.30, at least for the time being. If the price breaks above 1.3060 we expect the cable to head for 1.3120. A crucial resistance is however seen at 1.3240/50. As long as the pair remains above 1.29, there is no cause for concern for sterling bulls.

The U.K. GDP is scheduled for release at 8:30 UTC.

Having gained a very good profit this month by our daily signals we will sit back today and secure our monthly profits. Have a good weekend.

Daily Forex signals:

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

View our daily signal alerts http://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 And British Pound Flying High

Dear Traders,

After the euro’s strong performance from Tuesday, the cable followed with a rise towards 1.30. A reason for the pound’s flight were hawkish rate comments made by Bank of England Governor Carney who said the BoE may need to begin raising interest rates and will debate a move in the next few months. “Some removal of monetary stimulus is likely to become necessary” Carney said on Wednesday in Sintra, Portugal. The pound sharply strengthened in response to his remarks.

Technically, the GBP/USD broke out of its recent downtrend channel and is currently headed towards 1.30. Buyers should pay attention to higher prices above 1.3060 in order to buy pounds towards 1.32. A current support is however seen at 1.28.

Traders who traded the EUR/USD Wednesday had a tumultuous session with the currency pair fluctuating choppily between 1.1390 and 1.1290. Everything from profitable breakouts till loss-making fake-outs was included in yesterday’s trading but at the end of the day, we were able to post a small profit.

Meanwhile, the euro was torn between the market’s (mis)interpretation of Draghi’s recent upbeat remarks, suggesting the beginning of the ECB’s withdrawal from its accommodative policy, and the central bank’s back paddling afterwards. The conflicting ECB signals sent the euro on a roller coaster ride but the follow through of the euro’s latest rally had a greater impact than quelling speculation. Consequently, the euro broke above 1.1390 and tested the 1.1420-level. Given the strong uptrend in the EUR/USD we expect the euro to continue its rally towards 1.15/1.1550. If the pair touches 1.15, sellers may take the opportunity and jump back in. A pullback towards1.13 however, may attract the attention of buyers.

From the Eurozone we have the German Consumer Price scheduled for release at 12:00 UTC, a report which could have an impact on the euro.

The U.S. GDP report due for release at 12:30 UTC will be of interest for dollar traders.

Daily Forex signals:

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

View our daily signal alerts http://www.maimar.co/category/daily-signals/

Subscribe to our daily signal service http://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