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Final Working Week of 2024

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This is the final working week of 2024 and investors were cautious ahead of this week’s Federal Reserve meeting.

The Fed is set to decide its interest rates on Wednesday, where a 25 basis points cut is largely priced in. However, markets were cautious about the Fed’s long-term rate trajectory as inflation has remained a major concern. Sticky inflation figures last week have clouded the long-term rate outlook. The focus on Wednesday will thus be on the updated rate projections.  Fed chair Jerome Powell’s remarks last month, highlighting that downside risks to the labor market had diminished while inflation remained more persistent than anticipated, have traders on edge for a potential hawkish cut. The Fed’s forward guidance will therefore be key. If the central bank maintains its projection of four 25bp cuts next year, it could stoke concerns about its willingness to finish the inflation fight.

The EUR/USD struggled to find a direction and remained sideways between 1.06 and 1.04. Traders hope for the Fed decision to ignite volatility.

Also, the GBP/USD took a breather from its recent downtrend and trended between 1.2850 and 1.26. In case of a renewed break below 1.2590, we pencil in next lower targets at 1.25 and 1.24.

 

We wish you a happy Christmas season and the best of luck and success in the new year!

 

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.

Copyright © All Rights Reserved 2024 MaiMarFX.

www.maimar.co

Euro Falls To Two-Year Low

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On Friday we saw a sharp downside breakout in the EUR/USD that has sent the currency pair as low as 1.0332 from where it swiftly recovered back to the former support at 1.05.

Some of the reasons for the euro’s downside was the escalation in the Russia-Ukraine war ahead of potential Trump-led ceasefire discussions in January 2025 while another reason for the slump was weak data illustrating the weak state of the eurozone economy.

If the euro falls back below 1.04, we see a next lower target at 1.0220. On the other side, if the pair is able to stabilize above 1.0550 again, we see increased chances for a correction towards 1.06 and 1.07.

 

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.

Copyright © All Rights Reserved 2024 MaiMarFX.

www.maimar.co

Euro And Cable: U.S. Dollar Correction Ahead?

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We saw a strong U.S. dollar rally following the U.S. election but a correction seems to be inevitable now, which is why caution is warranted when chasing the current rally much further. However, the overall momentum remains bearish in both currency pairs and with the incoming U.S. President Donald Trump policy mix, the markets will probably favor a strong dollar.

We have penciled in the next lower targets in both EUR/USD and GBP/USD.

EUR/USD: The euro dropped until the crucial support at 1.05 from where it took a breather. Since the 1.05 area is seen a strong support, we marked a next lower target at 1.0460 but remain cautious in terms of further lower targets for now. On the upside, an important resistance is seen at 1.0770.

GBP/USD: Remaining below 1.27 would see increased odds for a further leg down towards 1.23 and probably even 1.20. If the cable is, however, able to stabilize above 1.28, the trend would return to neutral.

 

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.

Copyright © All Rights Reserved 2024 MaiMarFX.

www.maimar.co

Daily Trading Signals

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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 12/11/24:

EUR/USD

Long @ 1.0665

Short @ 1.0625

GBP/USD

Long @ 1.2835

Short @ 1.2790

DAX® (GER40)

Long @ 19380

Short @ 19240

Settings for all trades today: Entries from 8:00 am UTC, SL 25, TP 40

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.

Copyright © All Rights Reserved 2024 MaiMarFX.

www.maimar.co

Euro Tilts Downwards

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The euro has been pressured by U.S. President-elect Donald Trump’s proposals for tariffs on imports, which could hurt European exports and risk a global trade war.

Furthermore, political uncertainty remained a drag as German Chancellor Olaf Scholz said he would be willing to call a vote of confidence before Christmas, paving the way for snap elections following the collapse of his governing coalition.

The EUR/USD was stuck at 1.07. Watch out for price breaks either above 1.0770-80 or below 1.0680.

GBP/USD: The cable is considered to be within a downward trend channel as long as it remains below 1.30. A new lower target would be around 1.2820.

On Thursday we will watch the U.S. consumer price reading, which could, in case inflation comes in above the 0.3 percent forecast, further reduce the chance of a Federal Reserve rate cut in December.

 

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.

Copyright © All Rights Reserved 2024 MaiMarFX.

www.maimar.co

Dollar Rally Loses Steam, Focus On Fed

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Donald Trump will be, once again, the next president of the USA and the U.S. dollar soared, at least in the beginning of yesterday’s early vote counting. Now it appears as if the dollar rally loses steam. Investors now look to the Federal Reserve decision later int the day for more cues on interest rates.

The Fed is widely expected to cut rates by 25bp today but the future rate outlook remains uncertain in the face of a Trump presidency.

EUR/USD: As long as the euro remains below 1.0830 but more importantly below 1.09, chances are in favor of a further dollar rally. Watch out for a break below 1.0680.

GBP/USD: 1.30 remains an important resistance for the pound. A break below 1.2830 could lead to a next leg lower towards 1.2650.

 

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.

Copyright © All Rights Reserved 2024 MaiMarFX.

www.maimar.co

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.

The Calm Before The Storm

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Traders remained largely risk-averse before today’s highly anticipated U.S. election night.

The apparently tight contest could delay the final election result, so let’s wait and see.

We wish everyone profitable trades!

 

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 5/11/24 (election day):

EUR/USD

Long @ 1.0920

Short @ 1.0835

GBP/USD

Long @ 1.3010

Short @ 1.2930

DAX® (GER40)

Long @ 19210

Short @ 19140

Settings for all trades today: Entries from 8:00 am UTC, SL 25, TP 400

Remember to take partial profits!

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.

Copyright © All Rights Reserved 2024 MaiMarFX.

www.maimar.co

Daily Trading Signals

/in /by

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 31/10/24:

EUR/USD

Long @ 1.0865

Short @ 1.0815

GBP/USD

Long @ 1.2985

Short @ 1.2935

DAX® (GER40)

Long @ 19180

Short @ 19125

Settings for all trades today: Entries from 8:00 am UTC, SL 25, TP 20-30

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.

Copyright © All Rights Reserved 2024 MaiMarFX.

www.maimar.co

Our Trading Ideas For Today

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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 29/10/24:

EUR/USD

Long @ 1.0820

Short @ 1.0775

GBP/USD

Long @ 1.2985

Short @ 1.2940

DAX® (GER40)

Long @ 19630

Short @ 19490

Settings for all trades today: Entries from 8:00 am UTC, SL 25, TP 20-30

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.

 

ECB Decision: Dovish Surprise?

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The U.S. dollar was on the front foot, having scaled an 11-week top against a basket of peers yesterday. The EUR/USD fell towards 1.0850 while the GBP/USD dropped below 1.30.

The greenback has not only drawn support from better-than-expected U.S. economy data which caused traders to scale back their expectations of Federal Reserve rate cuts, but also on the possibility of a victory by Republican presidential candidate Donald Trump at the looming U.S. election.

Today we have the European Central Bank decision in focus where policy makers are expected to deliver another rate cut. The big question is however, whether the ECB could hint at cutting rates faster-than-expected through next year. In case of a dovish ECB surprise today, the downside momentum in the EUR/USD will accelerate. While a 50bp rate cut remains an outside bet, ECB president Christine Lagarde could signal, that more stimulus might be needed to help the region’s slowing economy. This would trigger more downside potential.

EUR/USD: Technically, a dovish surprise would see a dip towards the lower support area at 1.08-1.0780.

The ECB decision is scheduled for 12:15 GMT, followed by the press conference 30 minutes later.

Let’s be surprised.

 

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.

Copyright © All Rights Reserved 2024 MaiMarFX.

www.maimar.co