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EUR/USD And GBP/USD Trade Lower In Thin Trading

Dear Traders,

Market conditions on Monday were quiet with U.S. markets being closed for President’s Day holiday.

EUR/USD: The euro dropped to a low of 1.2369 in thin trading. We currently see the possibility of further losses towards 1.2345, provided that the euro remains below 1.24. A break above 1.2415 could, however, spur some bullish momentum towards 1.2435 and 1.2460.

The German ZEW Survey Expectations are scheduled for release at 10:00 UTC but this report is not expected to have a major impact on the euro’s price action.

GBP/USD: The pound sterling traded with a downward tilt Monday but bearish momentum came to a halt slightly below 1.3960. As long as the pound remains unable to stabilize above the 1.40-level, we prepare for further losses towards 1.3920 and 1.3895. If sterling bulls are able to push the pair above 1.4020 we could possibly see a run for 1.4050 and 1.4070.

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 2018 Maimar-FX.

www.maimar.co

 

Pound Breaks Above 1.40 – What’s Next?

Dear Traders,

The best performer at the beginning of this week was undoubtedly the British pound which took a short glimpse above 1.40 amidst a more upbeat mood among investors regarding Brexit talks. The pound rose to a high of 1.4003 in Asia trading and we are still somewhat skeptical about the potential for further upward movement given an overbought situation. The strong uptrend in the GBP/USD depends not only on the weakness of the U.S. dollar, but also on positive U.K. data.

However, we were able to book a good profit yesterday by trading our long entry.

GBP/USD: Based on the pound’s general strength, we recommend sterling bulls to focus on a price range between 1.4110 and 1.3920. Below 1.3915 we anticipate deeper corrections towards 1.3850.

EUR/USD: The euro traded with a tailwind and rose towards the upper barrier of its current sideways trend channel. If the 1.23-barrier is significantly breached we expect further upside momentum driving the currency towards 1.2365. Current supports are seen at 1.2230, 1.2210 and 1.2165.

The German ZEW Survey is due for release at 10:00 UTC and could have a minor impact on the price action in the euro.

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

GBP/USD: Short Traders Benefit From Bearish Tilt

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.

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

British Pound Takes Breather On Carney Comments

Dear Traders,

Monday has been a quite challenging trading day for traders of the EUR/USD and GBP/USD. While the British pound declined against the U.S. dollar after Bank of England Governor Carney’s comments were interpreted as more dovish following last week’s MPC statement, we have shot all our powder and finally missed out on the profitable bearish movement in the GBP/USD.

Carney reinforced the BoE’s view that the rate hike cycle in the U.K. will be “limited and gradual” and acknowledged that there was still clear concern over the health of the economy amid Brexit. His comments weakened the pound in the short term. GBP/USD traded consolidated and fell towards 1.3460. We now see a lower support at 1.34/1.3380 and if the pound drops below that level we may see a correction towards 1.33. On the topside, the 1.3620-level remains unbroken and sterling bulls may focus on a bullish break of that resistance level in order to buy pounds towards 1.38.

The euro traded sideways between 1.1970 and 1.1915. We now focus on price breakouts either above 1.1990 or below 1.1935. The German and Eurozone ZEW Survey are both scheduled for release at 9:00 UTC today and may have a slight impact on the euro.

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

 

 

 

U.S. Dollar Falls On Healthcare Reform Failure

Dear Traders,

Yesterday’s trading was quiet for most of the day and both of our currency pairs fluctuated within narrow trading ranges. The big move occurred during the Asian session after two Republican senators said they oppose the Trump-backed healthcare reform bill, leaving it with insufficient votes for passage. The U.S. dollar fell sharply on signs the U.S. healthcare reform bill is effectively dead in its current form. Investors appear to be losing confidence in U.S. President Trump’s ability to deliver, not just on healthcare but on the rest of his revitalization agenda too.

EUR/USD surged to a high of 1.1538 and traders wonder whether the euro is on its way toward higher targets at 1.1565 and 1.1620. Let’s be surprised.

The German and Eurozone ZEW Survey are due for release at 9:00 UTC and could have a short-term impact on the euro.

GBP/USD rose in tandem with the greenback’s opponents and climbed back above 1.31. Whether the pound is able to maintain its high level remains to be seen but once 1.3120 is significantly broken, the chances are in favor of further bullish momentum. If the cable falls back below 1.3040 it could head for a test of the 1.30-support.

The U.K. Consumer Price Report scheduled for release at 8:30 UTC receives most attention and should be watched closely.

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

 

 

 

Pound’s Upward Movement Could Be Limited

Dear Traders,

It has been a profitable trading day for sterling bears and so we were able to benefit from the fall in the pound while our short trade has hit all profit targets. The pound slid to a low of 1.2638 on political uncertainty following last week’s snap election.

The most important piece of U.K. data will be the Consumer Price report scheduled for release at 8:30 UTC. CPI data is expected to print 2.7 percent in May, unchanged from the prior month. A disappointing CPI figure could however increase the pressure on the pound.

GBP/USD

Watch out for higher resistances. From a technical perspective, there could be an upper barrier at around 1.2730/40, a level from where sellers may take the opportunity to sell pounds. If that barrier proves correct, we will shift our focus to the 1.2635-mark. A break of that support level may result in a steeper slide towards 1.2530.

The euro traded more or less unchanged against the U.S. dollar on Monday. Germany’s ZEW survey, due for release at 9:00 UTC will draw euro traders’ attention. However, given the euro’s recent sideways trading range, gains might be limited until 1.1270/80.

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 Steady Ahead Of FOMC Decision

Dear Traders,

The British pound stabilized above 1.27 after touching a fresh low at 1.2635 on Friday. It seems that sterling at least temporarily reached bottom after Prime Minister Theresa May’s Conservative Party unexpectedly lost the majority in Thursday’s U.K. election. This makes Brexit negotiations with the EU more difficult, leading to new complications in the U.K. The Bank of England will decide on monetary policy on Thursday but BoE policy makers are in no position to alter their course in the near-term. Sterling traders shall pay attention to the U.K. Consumer Price Index, scheduled for release on Tuesday. As long as GBP/USD trades above 1.27, we anticipate some upward movements towards 1.2850 and possibly even 1.2950. A significant decline below 1.27 could however open the door for further losses towards 1.26 and 1.24.

 

The highly anticipated FOMC decision on Wednesday is expected to end with a rate hike. How the U.S. dollar will trade, hinges however on the Fed forecasts for the second half of 2017. If the Federal Reserve calls for three rate hikes this year despite recent disappointing U.S. economic data outcomes, the greenback could strengthen. However, given the low probability the Fed will embark on an aggressive tightening cycle, traders should prepare for a weakening dollar, especially ahead of U.S. inflation data due to be released on Wednesday.

The EUR/USD traded little changed between 1.1215 and 1.1165. Technically, the recent sideways trading range is still unbroken and as long as there is no breakout either above 1.1285 or below 1.11, there is nothing new to report.

From the Eurozone, the most important piece of economic data will be the German ZEW survey scheduled for release on Tuesday morning.

 

With no major market drivers and given the typical seasonal lull in market activity, we do not expect exaggerated currency moves.

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

 

 

 

Will U.K. CPI Data Prompt Sterling Bulls For A Run For 1.30?

Dear Traders,

Euro bulls have regained control and pushed the EUR/USD up to a test of 1.10 this morning. Traders are now on the look-out for a sustained upside-break of that psychological level. If the euro breaks above 1.1023, the opening price following the first round of French elections, we see chances of a climb towards 1.1070. On the bottom side, we expect a current support to be around 1.09. The most important piece of Eurozone data this morning will be the Gross Domestic Product for the first quarter, scheduled for release at 9:00 UTC. At the same time, the German ZEW Survey is due for release. Any upside surprises could translate into further euro strength.

The British pound found some halt near 1.2880 after an attempt to break the 1.2940-level has failed. All eyes will be on the Consumer Price report, scheduled for release at 8:30 UTC and if inflation data is upbeat, the pound could trade higher targeting 1.2970 and 1.3020. Current support levels are however seen at 1.2860 and 1.28.

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 Bulls Profit From U.S. Dollar Weakness

Dear Traders,

The U.S. dollar traded lower against the euro and British pound after U.S. retail sales and CPI data fell short of estimates. Following Friday’s softer reports, the odds for a Federal Reserve rate increase next month have fallen to about 70 percent, even though data was still good enough to bolster the case for tightening in June.

EUR/USD

The euro rose towards its 1.0950-resistance after re-testing the current support zone ranging from 1.0855 to 1.0820. We will now pay close attention to a renewed break above 1.0950 which could result in a climb towards 1.1050.

Despite the low-volatile market environment there might be a catalyst for some swings throughout this week. The German ZEW Survey is due for release on Tuesday, followed by the Eurozone Consumer Price Report which is due on Wednesday and a speech of ECB President Draghi on Thursday.

GBP/USD

The pound sterling remained range-bound between 1.2990 and 1.2845 and traders still wait for, at least, a test of 1.30. It could be an interesting week for sterling traders with U.K. Consumer Prices (Tuesday), Employment data (Wednesday) and Retail Sales (Thursday) scheduled for release. Most of these reports are expected to surprise to the upside, so we may see a run for 1.30 and possibly even a test of 1.3050.

A bearish break below 1.2750 however, could increase bearish momentum towards lower targets around 1.26.

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

 

 

GBP/USD: U.K. Inflation Report To Dictate Price Action

Dear Traders,

While the U.S. dollar ended the day virtually unchanged against the euro, it traded slightly lower versus the British pound Monday. Meanwhile, there were no new insights from Federal Reserve Chair Janet Yellen. She reiterated several previously stated positions when speaking at the University of Michigan. Yellen said she expected the U.S. economy to continue to grow at a moderate pace and that gradual interest rate increases “can get us where we need to be”. Fed policy makers expect two additional rate hikes in 2017.

The British pound recovered some losses and rose towards 1.2430. However, as long as the pound remains below 1.2450/70, we favor a bearish stance. For sterling to rally it would possibly require a break above 1.2480 and further 1.2505. Today’s price action will hinge on the U.K. inflation report, scheduled for release at 8:30 UTC. If Consumer Price growth comes in with a downtick, sterling could fall towards 1.2340. Stronger inflation however, may encourage sterling bulls to push the currency beyond the 1.2470-level.

The euro trod water with the price reluctant to push above the 1.06-mark. Euro traders remain risk-averse ahead of the French elections and with no market-moving data on the calendar, the euro might continue to trade sideways within tight trading ranges. The German ZEW Survey is scheduled for release at 9:00 UTC but this report cannot be considered important enough to free the euro from its lethargy. In short-term time frames we expect the euro’s price action to be limited to a trading range of 1.0640 and 1.0530.

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