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Risk-Off Mode

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Bearish momentum accelerated, sending our trading instruments towards lower targets.

The reason behind the steep sell-off is the bond sell-off and rising yields in the U.S., buoying the dollar while making risk assets unattractive.

The euro knew no other direction than south and hit the crucial 1.05-support area. A downside break below 1.0480 could spark fresh bearish momentum towards 1.0290 and further 1.01. A current resistance is however seen at around 1.07.

The pound sterling fell below 1.2170 and headed towards 1.21. Our next lower target is 1.20 now.

The DAX slid below 15400, heading towards 15100. Watch out for prices below 15070 now. On the topside, a current resistance comes in at 15400.

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 28/9/23:

EUR/USD

Long @ 1.0535

Short @ 1.0485

GBP/USD

Long @ 1.2210

Short @ 1.2125

DAX® (GER40)

Long @ 15310

Short @ 15210

 

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 2023 MaiMarFX.

www.maimar.co

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Profit With The Bears

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Yesterday has been a profitable trading day with our short entries in the EUR/USD and DAX providing a good profit.

Let’s see what’s in store today.

 

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 26/9/23:

EUR/USD

Long @ 1.0665

Short @ 1.0570

GBP/USD

Long @ 1.2230

Short @ 1.2175

DAX® (GER40)

Long @ 15460

Short @ 15340

 

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 2023 MaiMarFX.

www.maimar.co

Follow us on social media:

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Sterling And DAX: Bearish Momentum To Continue?

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The British pound was the worst performer the past week, falling about -1.2 percent against the U.S. dollar. To the surprise of the market, the Bank of England decided to keep interest rates on hold, which has led to a significant drop in the cable. With no fundamental support from the BoE and the threat of recession in the U.K., the outlook for the pound remains bearish so far. A next lower target is now seen at around 1.2170. Below 1.2140, the focus shifts to the crucial support at 1.20. A short-term resistance is however seen at around 1.2330.

Also, the EUR/USD remained in its recent downtrend. We will focus on a potential trading range between 1.0750 and 1.05.

As for the economic docket this week, traders should closely watch the U.S. PCE Index figures due for release on Friday.

DAX – Downside breakout in the making?

The index is hovering above 15450 after failing to break the 16000-mark again. Traders should watch out for a break below 15400 that could lead to a sharp drop towards 14700-14500. On the other side, we expect a current resistance zone to come in between 15850 and 15650.

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.

 

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 2023 MaiMarFX.

www.maimar.co

Follow us on social media:

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All Eyes On The Fed

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Very little movement was seen in both pairs EUR/USD and GBP/USD in the beginning of the week and before the FOMC meeting. In the euro we currently focus on a trading range between 1.08 and 1.06 while in the cable it will be interesting whether the pound also drops below 1.2330 and further towards 1.23. On the upside, resistance is seen at around 1.2550.

Today is Federal Reserve decision day and it is widely expected that the central bank will pause rate hikes. Instead, the focus will be on fresh economic projections and the dot plot forecast and whether another 2023 hike is in the cards. Traders expect that the Fed’s tightening campaign has ended. Thus, the U.S. dollar will rise if there are signals for further tightening, triggering a hawkish repricing of rate expectations.

The Fed decision and release of economic projections is scheduled for 18:00 UTC followed by the press conference 30 minutes later.

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 20/9/23:

EUR/USD

Long @ 1.0715

Short @ 1.0660

GBP/USD

Long @ 1.2435

Short @ 1.2330

DAX® (GER40)

Long @ 15740

Short @ 15640

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 2023 MaiMarFX.

www.maimar.co

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Euro: Längste Verlustserie seit 1997

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Der Euro bestätigte den 9. wöchentlichen Verlust in Folge, die längste Verlustserie seit 1997.

Die Gemeinschaftswährung fiel wie ein Stein in Richtung 1,0630, nachdem die Europäische Zentralbank am vergangenen Donnerstag die Zinssätze zwar abermals erhöht hatte, es jedoch Anzeichen dafür gab, dass die Zinssätze ihren Höhepunkt erreicht hatten. Das Rezessionsrisiko und die sich verschlechternden Stimmungsindikatoren in Deutschland sprechen gegen weitere Erhöhungen.

Ein Blick auf den Wochenchart zeigt, dass der Euro trotz seines steilen Rückgangs immer noch über dem entscheidenden Unterstützungsbereich um 1,05 liegt. Angesichts der jüngsten bärischen Stärke könnten wir uns vorstellen, dass das Paar die 1,06er-Marke testet, bevor ein Pullback in Richtung 1,08 ansteht. Allerdings wird der US-Dollar in dieser Woche eine wichtige Rolle spielen, so dass Händler wahrscheinlich die Entscheidung der US-Notenbank abwarten werden, bevor sie sich entscheiden, in welche Richtung sie gehen.

EUR/USD

Auch in dieser Woche stehen wieder zahlreiche Ereignisse an, darunter mehrere Zentralbankentscheidungen. Wir werden uns auf die Zinsentscheidung der US-Notenbank am Mittwoch konzentrieren, und obwohl allgemein erwartet wird, dass die Fed die Zinssätze in diesem Monat unverändert lässt, gehen Händler von einer weiteren Anhebung bis zum Ende des Jahres aus.

Von der Bank von England wird am Donnerstag eine Zinserhöhung um 25 Basispunkte erwartet. Im Falle einer dovishen Zinserhöhung oder genauer gesagt, wenn die BoE andeutet, dass die Zinssätze sich ihrem Höhepunkt nähern, wird das Pfund Sterling fallen.

 

Wenn auch Sie wissen möchten, wo wir unseren Stopp-Loss und Take-Profit setzen und ob wir an einem bestimmten Tag handeln oder nicht, sowie wie wir unsere Positionen managen, dann abonnieren Sie unseren Signalservice.

Wir wünschen gute Trades!

Der Inhalt des Beitrags spiegelt die persönliche Meinung des Autors wider. Dieser übernimmt für die Richtigkeit und Vollständigkeit keine Verantwortung und schließt jegliche Regressansprüche aus. Dieser Beitrag stellt keine Kauf- oder Verkaufsempfehlung dar.

Copyright © 2023 MaiMarFX.

www.maimar.co

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Euro: The Longest Losing Streak Since 1997

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The euro confirmed a 9th consecutive weekly loss, the longest losing streak since 1997.

The common currency dropped like a stone towards 1.0630 after the European Central Bank raised interest rates last Thursday but there were signs that rates had peaked. Recession risk and worsening sentiment indicators in Germany fuel arguments against further hikes.

Looking at the weekly chart we see, that despite the euro’s steep fall, it remains still above the crucial support area around 1.05. Given the recent bearish strength we could imagine that the pair tests the 1.06-level before a pullback towards 1.08 is in the cards. However, the U.S. dollar will play a major role this week, so traders will likely wait for the Fed decision before deciding which way to go.

EUR/USD

This week is again loaded with event risk, including multiple central bank decisions. We will focus on the Federal Reserve rate decision Wednesday and while the Fed is widely expected to leave rates unchanged this month, traders access the prospects of a further hike by the end of this year.

The Bank of England is expected to deliver a 25bp rate hike on Thursday. In case of a dovish hike or more precisely, if the BoE give a hint that rates are near their peak, the pound sterling will fall.

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.

 

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 2023 MaiMarFX.

www.maimar.co

Follow us on social media:

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ECB Decision: 50/50 Chance Of A Rate Hike

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Yesterday’s mixed U.S. inflation figures did not serve us well in terms of profitable trades as the dollar choppily whipsawed without a clear direction. This has led to a false breakout in both EUR/USD and GBP/USD. While the core inflation gauge was in line with estimates, the 12-month reading came in slightly higher than forecast. Traders are mostly anticipating no monetary action from the Federal Reserve next week with a view to a possible hike in November.

Today, the European Central Bank will decide whether to hike rates again amid worsening economic conditions in the Euro Area. Sources have suggested the ECB policymakers are about to upgrade their inflation outlook for 2024 to above 3 percent. This would mean a hawkish repricing of rate hike expectations. In short, it is now a 50/50 chance on whether the ECB raises rates today or not.

From a purely technical view, we now see short-term momentum in favor of the dollar, but if the ECB hikes today, the euro will rally.

Let’s see.

The ECB decision is due at 12:15 UTC followed by the press conference 30 minutes later.

In case the euro rallies, the next target is at 1.0835, while slipping below 1.0685, the next lower target is seen at 1.0630.

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.

 

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.

U.S. CPI In Focus

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Both EUR/USD and GBP/USD were little changed Tuesday with the focus today turning to the U.S. Consumer Price Index (CPI) scheduled for release at 12:30 UTC. Market participants expect a mixed picture in the data while the key focus will be on whether a softer core inflation will be sufficient for the Federal Reserve to keep interest rates on hold.

Traders anticipate increased volatility around the CPI release.

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 13/9/23:

EUR/USD

Long @ 1.0675

Short @ 1.0725

GBP/USD

Long @ 1.2515

Short @ 1.2440

DAX® (GER40)

Long @ 15660

Short @ 15580

 

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 2023 MaiMarFX.

www.maimar.co

Follow us on social media:

Facebook

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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 12/9/23:

EUR/USD

Long @ 1.0775

Short @ 1.0715

GBP/USD

Long @ 1.2560

Short @ 1.2480

DAX® (GER40)

Long @ 15840

Short @ 15780

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 2023 MaiMarFX.

www.maimar.co

Follow us on social media:

Facebook

Twitter

Instagram

Nach U.S. Dollarstärke etwas Erholung für Euro und Pfund?

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Die vergangene Woche war durch einen stärkeren US-Dollar aufgrund höherer Treasury-Renditen gekennzeichnet, was sowohl den Euro als auch das britische Pfund nach unten drückte.

Aus technischer Sicht haben beide Währungspaare sekundäre Abwärtstrendkanäle ausgebildet, die nun eine gewisse Erleichterung für den Euro und das Pfund Sterling darstellen könnten.

EUR/USD

Der Euro berührte 1,0686, was der unteren absteigenden Trendlinie eines kurzfristigen Abwärtskanals entspricht. Oberhalb von 1,0760 stehen die Chancen gut für die Bullen mit einem höheren Ziel bei etwa 1,0840. Auf der Unterseite erwarten wir, dass die 1,0650-Unterstützung etwas Halt bieten wird.

Beim GBP/USD zeigt sich fast das gleiche Bild wie beim Euro. Nach dem jüngsten Tief bei 1,2445 könnten die Bären eine Verschnaufpause einlegen, so dass die Bullen die 1,2550 und 1,2630 anpeilen könnten. Sollte das Pfund jedoch unter 1,2440 fallen, liegt die nächste wichtige Unterstützung bei 1,24.

Was ist für diese Woche wichtig?

Am Mittwoch richtet sich das Augenmerk auf den US-Inflationsbericht. Es wird mit einem gemischten Bericht gerechnet: Die Kerninflation dürfte sich abschwächen, während die Gesamtinflationsrate von 3,2 Prozent auf 3,6 Prozent steigen dürfte.

Am Donnerstag richten sich alle Augen auf die Zinsentscheidung der Europäischen Zentralbank. Bullen und Bären sind geteilter Meinung über die diesmonatige Entscheidung, während die Preise eher in Richtung einer Zinspause tendieren. Die wirtschaftlichen Bedingungen verschlechtern sich, so dass dieser Monat die letzte Gelegenheit für die EZB sein könnte, die Zinsen zu erhöhen.

Am Donnerstag werden wir mehr wissen.

Wir wünschen allen eine gute und erfolgreiche Woche.

 

Der Inhalt des Beitrags spiegelt die persönliche Meinung des Autors wider. Dieser übernimmt für die Richtigkeit und Vollständigkeit keine Verantwortung und schließt jegliche Regressansprüche aus. Dieser Beitrag stellt keine Kauf- oder Verkaufsempfehlung dar.

Copyright © 2023 MaiMarFX.

www.maimar.co

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