Posts

Quiet trading

/in /by

Dear Traders,

Markets remained quiet on the back of a light calendar with no important news scheduled for release. Our attempt to buy the euro on its small recovery failed to provide a sustained gain. The British pound however, recovered some losses and traded higher against the U.S. dollar.

Trading may continue to be very quiet as there is no major data scheduled for release today. Traders may have to wait until Wednesday to take advantage of more significant moves. Until then, it might be worthwhile to pocket also some smaller pip-gains.

EUR/USD

The euro is formatting a symmetrical triangle in the hourly chart, suggesting breakouts above or below this pattern. The 1.07-mark remains an important support for the euro and once this level is significantly breached to the downside, we might see the euro sinking toward 1.0650 in a next step. However, small relief rallies could prompt the pair for a test of the resistance line at 1.0815, from where dollar bulls might jump in again.

Chart_EUR_USD_Hourly_snapshot10.11.15

Daily Forex signals:

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 2015 Maimar-FX.

www.maimar.co

 

 

 

Euro Trades Sideways, Cable Lacks Direction

/in /by

Dear Traders,

There was only little consistency in the currencies’ performances yesterday. While the euro preferred to trade sideways, the cable has been torn between better than expected U.K. PMI data and the neutral outcome in U.S. Manufacturing. GBP/USD still remains below 1.55 and traders are wondering if the Inflation report, scheduled for release on Thursday, could help the pound for a break through its key resistance.

Let’s wait and see. Before “Super Thursday” we will keep an eye on the U.K. PMI reports. The U.K. Construction PMI is due for release at 9:30 GMT today. Furthermore U.S. Factory Orders are scheduled for release today at 15:00 GMT but this report is unlikely to have a significant impact on the USD.

ECB president Draghi will speak at the opening of the European Cultural Days today at 19:00 GMT.

Daily Forex signals:

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 2015 Maimar-FX.

www.maimar.co

 

 

 

Wait-And-See Mode

/in /by

Dear Traders,

The market is still in a wait-and-see mode and larger movements are lacking. While the euro rose on the back of improvements in the European Central Bank’s lending report, the cable failed again to overcome its 1.55-hurdle.

The euro climbed to a high of 1.1387 after an ECB report showed that there is an improvement in the region’s lending conditions, diminishing prospects for additional monetary stimulus. Market participants fear that Draghi could probably sound less dovish at the ECB press conference tomorrow, since the report gives policymakers less cause for more QE.

Moreover, there were no new insights  from the Federal Reserve. Fed chair Yellen did not comment on the outlook for monetary policy when she made a statement yesterday.

There are no major economic reports scheduled for release today, so we shall have to wait until tomorrow when there are catalysts for more volatility. The only second-tier data is coming from the U.K. with public finances due for release at 8:30 GMT. Furthermore, BoE Governor Mark Carney is scheduled to speak today on the U.K.’s membership in the European Union at 17:00 GMT.

Daily Forex signals:

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 2015 Maimar-FX.

www.maimar.co

 

 

 

GBP’s Sell-Off: Only A Steep Correction?

/in /by

Dear Traders,

The biggest story yesterday was the sharp sell-off in the British pound. The cable was crushed as UK inflation unexpectedly dropped below zero. Consumer prices fell 0.1 percent in September, which was even worse than economist’s forecast of stagnation. The decline will reinforce the view that the Bank of England is far away from raising interest rates in the near future. Interestingly, the pound already weakened before inflation data was due for release. Traders have therefore reason to believe, that there was a leak and that some market participants were already aware of the weak CPI report.

Today’s focus shifts to the U.K. Labor Market report, scheduled for release at 8:30 GMT. Economists predict that wage growth accelerated in August, which could incite sterling bulls to buy GBP towards 1.54 again. A strong labor market report would have the potential to turn yesterday’s decline into a sharp correction of the recent uptrend.

The EUR/USD has nothing new to report. The German ZEW survey came in even weaker than anticipated, but the euro was unaffected by the deterioration in investor sentiment. The currency remained trading within its narrow range between 1.1410 and 1.1345.

The most important piece of U.S. data will be today’s Retail Sales report, due for release at 12:30 GMT. If data disappoints, we could see a sharp sell-off in the U.S. dollar, pushing its major peers towards fresh highs. Independently of the outcome, this report should have a significant impact on the greenback.

Furthermore, the Federal Reserve releases the Beige Book at 18:00 GMT.

Daily Forex signals:

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 2015 Maimar-FX.

www.maimar.co

 

 

 

No big market moves

/in /by

Dear Traders,

Yesterday’s price action remained relatively moderate. The highly anticipated U.S. ISM index fell short of the forecast but failed to trigger big market moves. The British pound tested the area slightly above 1.5240 but sold off sharply in response to weaker U.K. PMI reports. The support zone around 1.5130/10 still remains intact for the time being. A break below 1.51 could drive the cable towards 1.5010.

The euro, however, offered some gains for both sides. After a test of 1.1290, the currency pair turned into an intraday downtrend. A current support can be found at 1.1170. Below that level we will turn our focus to the 1.11-mark again.

Today, there are only second-tier economic reports scheduled for release, which could have a limited impact on the currencies.

7:30 EUR Germany Construction PMI

12:30 USA Trade Balance

17:00 EUR ECB president Draghi speaks

21:30 USA Fed’s Williams speaks

(timezone: GMT)

Daily Forex signals:

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 2015 Maimar-FX.

www.maimar.co

 

 

 

Difficult Market Environment

/in /by

Dear Traders,

The market environment is difficult for traders since global growth concerns and uncertainties about diverging monetary policies cloud the overall outlook. This uncertainty leads to risk-aversion,which can be seen in volatile but unsteady market swings. Both of our major pairs were lacking a clear direction yesterday and ended the trading day unchanged against the U.S. dollar. This meant that traders had to struggle with fake-outs and still have to be patient and wait for better market conditions.

Let’s have a look at the technical side:

EUR/USD

The euro was the worst performing currency recently and failed to provide profitable chances. On a monthly basis we see that the pair peaked at a high of 1.1460, but most of the period, it remained trading sideways between 1.1330 and 1.11. Those who are looking for long-term entries, should focus on the area above 1.1460/65 for buy orders and on the area below 1.10 for sell orders. For short-term investments, we still consider the 1.1280 level as an opportunity to buy the euro towards 1.1320/50. Short-entries, however, could be interesting below 1.1190 and below 1.1080. Remember that there is a key support at 1.1020.

Chart_EUR_USD_Daily_snapshot30.9.15

Today traders should watch the German Unemployment numbers, due for release at 7:55 GMT and the Eurozone CPI report, scheduled for release at 9:00 GMT.

GBP/USD

The British pound weakened eight consecutive trading days but found a slight support around 1.5130. The trend is our friend and we should bear in mind, that GBP may be vulnerable to further losses, but there could be a lower support area at around 1.5110 – 1.5090. If sterling declines significantly below 1.5130, we will focus on the 1.51-level, which could prompt the currency for a recovery. However, above 1.5210, chances are that sterling bulls drive the cable towards 1.5250 and 1.5285.

U.K. Gross Domestic Product is scheduled for release at 8:30 GMT today.

Chart_GBP_USD_4Hours_snapshot30.9.15

The most important piece of economic U.S. data will be the release of ADP’s employment change report (12:15 GMT). Market participants pay close attention to this report as it is considered to be a leading indicator for nonfarm payrolls.

Furthermore, FOMC members Yellen and Bullard are scheduled to speak on Community Banking today at 19:00 GMT.

Daily Forex signals:

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 2015 Maimar-FX.

www.maimar.co

 

 

 

Dollar due for a correction?

/in /by

Dear Traders,

Euro traders needed to be persistent and enter our long-entry several times, in order to gain the final profit. Before Draghi’s testimony in Brussels yesterday, euro bears tried to put pressure on the currency pair but finally failed when Draghi sounded slightly more optimistic. While he repeated the view that the European Central Bank is willing to bolster its bond-buying program if more stimulus is needed, he said that it is too early to judge whether expanding purchases would be appropriate. The ECB president said that more time is needed to determine whether risks to the economic outlook warrant a step-up in the ECB’s stimulus.

The euro reacted positively on his comments and tested the 1.12-level. Whether we will see more upward momentum, remains to be seen. With a break above 1.1220 we see chances that the euro could climb to 1.13.

The British Pound knows currently only one direction: Downwards. The support at 1.5220 proved to be stable for the time being. Bear in mind, that below 1.5220 there is no support until 1.5165. Above 1.5265 we may see a correction until 1.53 and 1.5340.

Today, the most important piece of economic data is coming from the USA with Durable Goods Orders, scheduled for release at 12:30 GMT. Furthermore, New Home Sales at 14:00 GMT and the speech of Fed-chair Janet Yellen at 21:00 GMT could have an impact on the U.S. dollar.

Interesting data from the eurozone and the U.K.:

8:00 EUR German IFO Index

8:30 UK Loans for House purchase

Daily Forex signals:

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 2015 Maimar-FX.

www.maimar.co

 

 

 

U.S. Dollar Advanced Amid Optimistic Fed Comments

/in /by

Dear Traders,

The U.S. Dollar traded higher against the euro and British pound amid optimistic comments from Federal Reserve policy makers. Fed officials view the U.S. economy as strong enough to withstand a rate hike in 2015. Fed Bank of Atlanta President Lockhart said yesterday he remains confident the central bank will tighten this year and he indicated that the September FOMC decision was a close call.

Investors were relieved and drove the greenback higher, even though yesterday’s Existing Home Sales report was below expectations.

GBP/USD

Sterling declined against the greenback but stopped its slide slightly above 1.5480. Today’s focus will be on U.K. Public Sector Finances, scheduled for release at 8:30 GMT. Borrowing is expected to show a rise in August, increasing the chances for an upward move towards 1.5570 and 1.5625.

The only piece of eurozone data will be Consumer Confidence, scheduled for release at 14:00 GMT. Prior to that, U.S. House Price Index is due for release at 13:00 GMT, but the impact on the currencies could be limited.

Daily Forex signals:

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 2015 Maimar-FX.

www.maimar.co

 

 

 

Will today’s economic data trigger big moves?

/in /by

Dear Traders,

Market participants are very cautious ahead of the Fed decision on Thursday. Price fluctuations have been muted as a result. Nonetheless short-traders were able to gain a small profit by yesterday’s decline in the EUR and GBP.

Today, we will pay closer attention to important economic data such as U.K. Consumer Prices, the German ZEW survey and U.S. Retail Sales. Each report could have a more or less significant impact on the currency pairs, but since the market is dominated by uncertainty and risk-aversion, the reaction to these reports could result in unsteady and choppy swings.

EUR/USD

Technically we see the next major resistance zone at around 1.14. Euro traders might look for an upside move until 1.14/ 1.1420. However, with a significant break below 1.1250, we expect the euro to depreciate towards 1.1180 and 1.11.

Chart_EUR_USD_4Hours_snapshot15.9.15

 

Important economic data:

8:30 UK CPI

9:00 EUR German ZEW Survey

12:30 USA Advance Retail Sales

(timezone: GMT)

Daily Forex signals:

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 2015 Maimar-FX.

www.maimar.co

 

 

 

Relief Rally ahead of next week’s Fed decision

/in /by

Dear Traders,

The Bank of England’s minutes sounded, against all odds, less dovish even though only 1 MPC member voted to raise rates. The pound advanced as a result and broke easily above the 1.54-mark. BoE policymakers said global developments haven’t shaken their conviction that the time for a rate increase is approaching. However, the BoE is likely to wait for the Fed to do the first step and see how the market reacts.

Sterling bulls had several profitable chances to gain profits. Today, traders should keep an eye on the BoE Inflation expectations, scheduled for release at 8:30 GMT. GBP marked a current resistance at 1.5475 and bulls could be looking for prices above that level in order to drive GBP for a test of 1.55.

Euro traders had to be patient and must unfortunately record further losses before the euro finally showed some upward momentum towards $ 1.13. Given the uncertainty going into next week’s Federal Reserve decision, volatility should be on the rise, leading to a possible relief rally towards 1.14 in the EUR/USD.

Important economic data for today:

12:30 USA PPI reports

14:00 USA Michigan Confidence 

Have a beautiful weekend!

Daily Forex signals:

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 2015 Maimar-FX.

www.maimar.co