Posts

Pound Marks Support At $1.34- But For How Long?

/in /by

Dear Traders,

The U.S. dollar initially rose against the euro and British pound Monday morning but then ended the trading day virtually unchanged. Given these limited bearish movements, there wasn’t much to gain for short traders.

The cable has pushed down to a low of 1.3390 but the pair was able to stabilize above 1.34. Whether the 1.34-barrier will hold, remains to be seen but as long as GBP/USD remains below 1.35 we generally maintain a bearish stance in this pair. A significant break above 1.35 would shift the focus back to a previous sideways trading range between 1.36-1.35.

BoE Governor Carney will testify before parliament this morning at 8:15 UTC. Any new comments on inflation or monetary policy changes could get the pound moving.

The euro bounced off the 1.1715-level and corrected previous losses towards 1.18. The downtrend is still intact and as long as EUR/USD remains below 1.1850 we anticipate lower supports to come in at 1.1680 and 1.16.

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 2018 Maimar-FX.

www.maimar.co

 

Euro Drops On Italy Concerns

/in /by

Dear Traders,

The euro extended its bearish movement Wednesday. The euro’s recent weakness is, however, not only due to a strong U.S. dollar but also due to concerns about the political landscape in Italy. Signs that the far-right League and Five Star Movement parties could form a Eurosceptic, populist government in Italy have added to uncertainty in the euro area.

EUR/USD: The euro fell to a low of 1.1763 and if the currency pair is now unable to stabilize above 1.1850 we expect the downtrend to continue until 1.1720/1.1680. A current resistance is seen at around 1.1920.

GBP/USD: The British pound continued to trade within its slight downtrend channel ranging from 1.3590 to 1.3440. Recently, there wasn’t much to gain for day traders of the cable since the pair traded consolidated between 1.3620 and 1.3450. However, we hope for better trading conditions as soon as the pair breaks out of its tight trading range.

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 2018 Maimar-FX.

www.maimar.co

 

 

 

USD Continues Advance Against EUR

/in /by

Dear Traders,

The U.S. dollar continued to climb higher after U.S. President Trump announced that the USA was pulling out of the Iran nuclear deal. His decision sparked concern that it could increase geopolitical tensions between the USA and its international allies.

EUR/USD

Looking at the 4-hour chart we see that the recent downward channel is still intact suggesting that a bottom might not be in place yet. Thus, the euro may continue its tailspin towards the 1.1770/50 area. A lower support zone runs from 1.1660-1.17. The previous 1.19-support could now turn into a short-term resistance.

Let’s be surprised.

 

GBP/USD

The key support level around 1.35 has proved to withstand the downward pressure in the pound ahead of tomorrow’s BoE meeting. Sterling bulls hope for a hawkish hold at the Bank of England’s Super Thursday but we recommend traders to prepare for both scenarios, bullish and bearish. We shall come back to the specific breakout scenarios tomorrow.

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 2018 Maimar-FX.

www.maimar.co