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Euro And Pound Strengthen Amid Sideways Trend

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Dear Traders,

Both euro and British pound slightly recovered against the U.S. dollar at the beginning of this week. Yesterday’s upward movements contribute to keeping the current sideways trading range in both currency pairs EUR/USD and GBP/USD intact.

While we do not expect larger market swings in these final trading days we focus on the technical picture and its crucial support and resistance zones.

EUR/USD: The euro rose above 1.18 but rejected the 1.1835-level. We will now focus on a trading range between 1.1825 and 1.1750. If the euro breaks above 1.1825 we expect further gains towards 1.19. On the downside, we see current support levels at 1.1750 and 1.17.

The German IFO Index is scheduled for release at 9:00 UTC but this report is not expected to have a significant impact on the euro.

GBP/USD: The pound advanced and marked an intraday high at 1.3418. However, as long as we see the cable trading between 1.3475 and 1.3275 we will not pay much attention to the current price action.

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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.

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Markets To Enter Quiet Trading Period

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Dear Traders,

With all major risk events now behind us, there was little movement in the market Thursday as many market participants around the globe are gradually leaving for the Christmas holidays. Given the seasonal liquidity drain we recommend taking profits at smaller targets now or staying on the sidelines, considering a trading break around this period.

The euro weakened against the U.S. dollar after ECB President Mario Draghi sounded cautious about the prospect of higher inflation in the coming months even though the economic outlook remains positive. The ECB unveiled updated economic projections that showed continued growth over the next three years but despite that positive outlook, the central bank is not planning to raise rates anytime soon. In a nutshell, with the ECB still being far from raising rates, euro bulls did not see a reason to push the euro higher -at least not for the time being.

The pound was little changed following the Bank of England’s monetary policy announcement. As expected, the BoE left interest rates unchanged and following the latest BoE rate hike in November, the central is not expected to raise rates in the coming months.

GBP/USD: In short-term time frames we expect the currency pair to trade between 1.35 and 1.33.

EUR/USD: The 1.17-support remains in focus and if the euro drops below that important barrier, we expect further losses towards 1.16. Above 1.1930 however, the euro could head for 1.2050.

We wish you a beautiful and peaceful pre-Christmas period.

Daily Forex signals:

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

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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

GBP/USD: Short Traders Benefit From Bearish Tilt

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Dear Traders,

It has been a relatively quiet start to an eventful trading week with the U.S. dollar slightly strengthening against the pound and the euro ahead of the FOMC meeting. The British pound tumbled towards 1.3330 as Brexit optimism fades. While short traders of the GBP/USD were able to book some profit yesterday, the EUR/USD traded little changed and none of our daily signal entries was triggered.

Today’s focus will shift to the U.K. Consumer Price Report due at 9:30 UTC. If inflation comes in higher than forecast, the pound could find its way back towards 1.3430 and 1.3490. As long as the 1.33-support remains intact, we could see some bullish pullback. If 1.33 breaks we expect further losses towards 1.3220.

From the Eurozone, we have the German ZEW Survey scheduled for release at 10:00 UTC.

The EUR/USD is currently tilted to the downside and if the currency pair is unable to break the 1.18- threshold significantly, we expect the euro to test the 1.17-level.

Daily Forex signals:

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

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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

Will Payrolls Help Or Hurt The Greenback?

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Dear Traders,

It’s payrolls day again and today’s U.S. jobs numbers could matter more than usual as investors assess the possibility of a steeper Federal reserve rate hike path in 2018. While the Fed has established a commitment to gradual monetary policy pacing even under the chairmanship of Mr. Powell, job and wage growth will shape the expectations for 2018 tightening. The central bank is expected to endorse a wait-and-see approach in the first half of the next year after a last rate hike in 2017, which is widely expected to be announced on next week’s Fed meeting.

In short, there is a greater risk of disappointment than an upside surprise when coming to the latest job numbers. If job growth comes in below expectations amid slowing wage growth, the dollar will give up its recent gains. If today’s NFP report surprises to the upside, the dollar will continue to rise amid progress on the tax-cut legislation.

Traders around the world will watch the NFP release at 13:30 UTC.

GBP/USD: The pound rose against the dollar on speculation that Ireland and Britain were close to a Brexit deal. U.K. Prime Minister Theresa May will have time until Sunday to resolve the deadlocked Brexit talks. The GBP/USD jumped back towards 1.3520 after it found support at 1.3320. With the pound trading above 1.3330 we now expect the pair to head for a test of 1.3630/50.

EUR/USD: The euro further declined against the greenback and appears to be headed for a test of the falling trendline of its recent downtrend channel. We anticipate a crucial support area between 1.1740 and 1.1710 and if that threshold remains intact we could see some pullback towards 1.1805 and possibly 1.1850.

We wish you profitable trades for today and a cozy and relaxing winter weekend.

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/

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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

 

USD Steady Ahead Of NFP Report

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Dear Traders,

The British pound further weakened and we got what we were looking for in yesterday’s analysis: a breakout of a symmetrical triangle even if it was a relatively small bearish breakout with losses being limited to a low of 1.3357. If the pound remains below 1.34 we expect further bearish momentum driving GBP/USD towards 1.33. For the short-term bias to shift from bearish to slightly bullish it would need a sustained break above 1.35. A higher target would then be at 1.3650.

There was little movement in the EUR/USD Wednesday while none of our entries was triggered. The euro dropped below 1.18 but found some halt at 1.1780. Whether we will see further losses towards 1.17 remains to be seen and hinges on the risk appetite for dollars ahead of tomorrow’s NFP report. For bullish momentum to accelerate it would require a break above 1.1920.

ECB President Mario Draghi will hold a press conference as Chair of the Group of Governors and Head of Supervision (GHOS) today at 16:00 UTC. If he touches on monetary policy the euro could respond with some volatile swings.

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/

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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

EUR And GBP With A Tailwind, But Do We Underestimate USD?

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Dear Traders,

Both British pound and euro traded higher against the U.S. dollar Thursday, although the dollar was also strong against other currencies. The dollar received a boost after Arizona Senator John McCain said he would support the tax plan but the tax reform bill is still far from done and dusted. Votes on the tax bill will resume today and while this could be dollar-positive we bear in mind that the markets are very sensitive to tax headlines.

On the economic docket, the ISM Manufacturing report due at 15:00 UTC will receive most attention while manufacturing in the U.S. is expected to remain robust in November.

Technically speaking, we continue to favor the upward trend in both EUR/USD and GBP/USD. The pound climbed above 1.35 and was able to stabilize above that threshold. If the cable is able to take the next hurdle at 1.3550, we probably see a run for 1.36 and possibly even 1.3650. The uptrend is considered intact as long as prices remain above 1.3450/1.34. For the sentiment to sour the pound would need to break below 1.3370.

Sterling traders may keep an eye on the U.K. PMI Manufacturing at 09:30 UTC.

The euro headed towards 1.1950 after it re-tested the 1.18-support level. If the euro climbs above 1.1935 we expect further gains towards 1.20. If 1.1930 however holds, remaining a short-term resistance for euro bulls, the single currency could fall back towards 1.1830 and 1.18.

We wish you good trades and a wonderful first weekend of December.

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 2017 Maimar-FX.

www.maimar.co

EUR/USD Approaches 1.1860, Next Target At 1.1905?

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Dear Traders,

As expected, there was little movement in the Forex market with U.S. markets closed for the Thanksgiving holiday. These quiet conditions may continue today which is why we advise traders not to expect too much from the market and better stay out of new engagements or take profits at smaller targets.

EUR/USD: The euro traded with a tailwind and rose towards 1.1860. Once that level is breached we may see the euro extending its gains towards 1.1895. We bear in mind that the next crucial resistance level comes in around 1.1905. As long as the pair remains above 1.1770 the near-term bias is considered slightly bullish.

GBP/USD: The cable rejected the 1.3340-barrier and dropped back below 1.33. We now expect a near-term support to come in near 1.3265 from where we may see some leg up. Once the cable breaks above 1.3340 we anticipate further gains towards 1.3370 and possibly even 1.34. However, we recommend taking a cautious approach to markets that are illiquid.

Have a nice weekend!

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 2017 Maimar-FX.

www.maimar.co

Euro And Pound Soar Amid Low Liquidity

/in /by

Dear Traders,

The euro and pound sterling have soared to fresh highs amid low trading volumes. The upward movement in both EUR/USD and GBP/USD was not only driven by low liquidity but also by a weakening U.S. dollar. While trading volume was low with most U.S. market participants being offline for the long holiday weekend, we saw some remarkable movement Wednesday providing us profitable trades. There was some dovish tilt in the Fed minutes which contributed to the dollar’s weakness. While a rate increase in December is almost certain, there was some concern that price pressures would fall short of the Fed’s inflation target for longer. Those remarks cooled rate hike expectations for 2018 and drove the dollar lower in turn.

The EUR/USD broke out of its recent downtrend channel and rose towards 1.1840. Whether we will see a follow-through of the recent upward trend remains to be seen but should be viewed with a critical eye. We expect a next resistance to come in at 1.1880, provided that the euro breaks the 1.1840-barrier significantly. However, given the quiet trading conditions we recommend not expecting too much. A current support is seen at 1.1750.

The GBP/USD headed towards the 1.3340-threshold and it will be interesting now whether the cable is able to break the 1.3350-level significantly or bounces back from its highs. Above 1.3360 we expect accelerated bullish momentum towards 1.34 and 1.3450. A near-term support is however seen at 1.3250.

The U.K. GDP report is due for release at 9:30 UTC and could have a major impact on the pound provided that changes are made to the revisions.

Most action is expected to take place during the European trading hours while trading should be quieter afterwards. Happy Thanksgiving to all of our U.S. traders!

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/

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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

USD Weakness Sends EUR And GBP Soaring

/in /by

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 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 2017 Maimar-FX.

www.maimar.co

USD Dips On Concerns Over Tax Cut

/in /by

Dear Traders,

We finally saw larger market swings Thursday with the EUR/USD finding directional bias toward the North.

The catalyst for the weakening USD was news the U.S. Senate would delay tax cuts to the corporate rate until 2019 and while a delay is not what dollar bulls want to hear right now, they sold dollars on the news.

EUR/USD: We got the price breakout we were looking for in yesterday’s technical analysis. After the break above 1.1605 the euro gained ground against the dollar and rose towards 1.1655. If the euro breaks above 1.1660 we may see a run for 1.1685 and possibly the crucial resistance zone of 1.17-1.1730. On the bottom side, we focus on dips below 1.1570 and 1.1550, that could reinvigorate fresh bearish momentum.

GBP/USD: The price action in the cable remains messy. As long as there is no directional bias, traders may have to struggle with false breakouts. We are still looking for profitable price breakouts either above 1.3165 or below 1.3090.

U.K. Manufacturing Production figures are scheduled for release at 9:30 UTC and could have a minor impact on the pound.

From the U.S. we have the University of Michigan Consumer Sentiment due for release at 15:00 UTC but this report is not expected to have a major impact on the dollar.

We wish you good trades and a beautiful weekend.

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 2017 Maimar-FX.

www.maimar.co