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Quiet Trading On May 1st?

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Dear Traders,

We welcome you to the trading month of May. May 1st is a public holiday in many countries with many major markets shut for holidays. Trading in the Forex market could therefore be quieter than usual but that doesn’t necessarily mean that there will be no profitable movements. Let us be surprised.

Yesterday we saw the U.S. dollar continuing its rally against the euro and British pound with the GBP/USD touching a fresh low at 1.3712, slightly above the crucial 1.37-boundary. Following the recent declines and with both EUR/USD and GBP/USD hovering around key technical levels now, traders should expect some short covering around crucial support levels. In other words, prepare for consolidated movements around 1.20 in the EUR/USD and 1.37 in the GBP/USD.

EUR/USD: The euro was able to hold above 1.2050 and it will now hinge on the appetite for USD whether the euro falls towards 1.1990 or stabilizes above 1.2150.

GBP/USD: The cable rejected the 1.3710-level and consolidated between 1.38 and 1.37. Whether we will see some extended market moves above or below that zone remains to be seen. Above 1.38, we expect a next resistance to come in at around 1.3840 whereas on the bottom side, a next lower target could be at 1.3650.

Sterling traders will watch the U.K. PMI Manufacturing at 8:30 UTC today.

Furthermore, we have the ISM Manufacturing Index due for release at 14:00 UTC.

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

Quiet Trading On Easter Monday?

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Dear Traders,

European markets are still closed on Monday for the Easter holiday, so trading could be relatively quiet at the beginning of this week.

The most important piece of economic data this week will be the U.S. Nonfarm Payrolls Report on Friday. Today, we have the ISM Manufacturing Report scheduled for release at 14:00 UTC, which may spur some volatility in the market.

Both of our major currency pairs remained range-bound amidst a low-liquidity market environment.

EUR/USD: The euro may find some support around the 1.2250-level but if it drops below 1.2240 it may extend its slide towards 1.2190. On the top-side we see a current resistance at around 1.2480.

GBP/USD: The pound still holds above 1.40 but for how long? If that crucial barrier is significantly breached to the downside, we anticipate lower targets around 1.3880. A climb above 1.4080 may spur some bullish momentum in the market.

We wish you a good start to the new week.

 

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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

 

British Pound Falls On Brexit Concerns

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Dear Traders,

The U.S. dollar ended the month of February higher against other major currencies such as the euro and pound sterling.

Recently, however, it was not only the dollar’s strength that drove major pairs lower. The British pound came under increased selling-pressure as U.K.’s Prime Minister Theresa May rejected a proposed Brexit draft from the EU. The document contained details about the U.K.’s exit from the EU bloc. May is due to deliver a speech tomorrow so the price action in the pound could be volatile or even messy ahead of that speech.

Today, traders will be watching the PCE Core (13:30 UTC), the Fed’s favorite inflation indicator and the Manufacturing ISM report (15:00 UTC). Furthermore, we have a second appearance from Fed Chairman Powell before the Senate Banking Committee today at 15:00 UTC, but the market could remain largely unaffected by today’s testimony.

EUR/USD: The euro dropped below 1.22 but still holds above 1.2165 which means that it finds itself within a crucial support zone. We have the Italian election on Sunday, so investors may take profits ahead of the weekend which could lead to further losses in this pair. As mentioned in previous analysis, the next crucial price level will be 1.2160 and for euro bears it would need a sustained break below that level in order to anticipate further downward momentum. A current resistance area is seen between 1.2250 and 1.23.

GBP/USD: The pound declined on Brexit concerns and we now expect a next lower target to be at 1.36. However, traders should be careful trading the pound as the price action in the pound could become messy ahead of May’s Brexit speech tomorrow. We now expect prices to accelerate between 1.40 and 1.36.

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

 

 

USD Unfazed By FOMC Meeting

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Dear Traders,

There was little consistency in the performance of the U.S. dollar following the FOMC meeting. As expected, there was no policy change, so the market is now pricing in a nearly 100 percent chance of a next rate hike in March. The greenback ended the trading day virtually unchanged against the euro and British pound.

As recommended for subscribers, we did not trade yesterday since we secured our monthly profits. Thus, we did not lose any pips of our monthly performance.

EUR/USD: The pair traded recently sideways between 1.2475 and 1.2385. For euro bulls we recommend waiting for a sustained break above 1.25 in order to participate in the euro’s uptrend. If the euro, however, falls back below 1.24 we may get a retest of 1.2350/30.

GBP/USD: The cable traded with a tailwind and climbed above 1.42. That break was however not sustained, at least until now. If the pound takes out the 1.4235-barrier we may see a run for 1.4285. Sterling bears might wait for a sustained break below 1.41.

Interesting economic reports today:

9:30 UK PMI Manufacturing

15:00 USA ISM Manufacturing

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

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

All Eyes On The FOMC Decision Even Though No Changes Are Expected

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Dear Traders,

While the euro ended yesterday’s trading day virtually unchanged, the pound sterling headed for a test of 1.33 but reversed some of its gains just shy of that barrier. Whether we will see a sustained breakout above 1.33 remains to be seen and hinges on the risk appetite for pounds ahead of tomorrow’s BoE Super Thursday. The bank of England is widely expected to raise interest rates for the first time in a decade but this move is shrouded in suspicion. We will discuss the risk potential in tomorrow’s analysis.

Today’s focus will be on the Federal Reserve and the market’s appetite for U.S. dollars. It could thus be a turbulent trading day with traders bracing for higher volatility in all USD crosses.

The FOMC rate decision today at 18:00 UTC is top listing but the market is virtually certain that no change to the benchmark will be made this month. Economists expect policy makers to keep rates on hold for now and increase them at the December meeting. The probability of a December rate hike is at 83 percent. However, even if today’s Fed decision is unlikely to serve as a big market mover it could still surprise dollar bulls. In case of a less hawkish outcome, in other words, if there are a number of hawkish dissents, the dollar could give up some of its gains. Let us be surprised.

With regard to the U.S. tax reforms, the House Republicans are expected to release the tax bill text on Thursday.

We also have the ADP Report scheduled for release at 12:15 UTC followed by the ISM Manufacturing Index due at 14:00 UTC, so there is plenty of economic data that could affect the price action in the greenback today.

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 Weakness Ahead? ADP And ISM Reports In Focus

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Dear Traders,

Trading was relatively quiet Tuesday with the U.S. dollar’s latest recovery losing some momentum. After crucial support zones in the EUR/USD and GBP/USD have been tested, it seems that the euro and pound could find a bottom in the near-term.

EUR/USD: The euro strengthened against the greenback after dipping slightly below 1.17. With the 1.17-support still unbroken, our focus now turns to the 1.1820/30-resistance level which could limit gains in short-term time frames.

GBP/USD: The cable was able to stabilize above 1.3235 and we now anticipate some pullback towards 1.3340/50. For the bias to shift from bearish to bullish it would need a sustained break above 1.3460. A lower support is however seen at 1.3180.

How the dollar will trade within the next two days will mainly depend on the U.S. employment data. Today we have the ADP private payrolls (12:15 UTC) and the ISM service sector activity report (14:00 UTC) scheduled for release. Traders should pay close attention to these reports as they could determine how the USD will trade ahead of the U.S. payrolls report on Friday. Furthermore, we have another speech from Fed Chair Janet Yellen at 19:15 UTC.

Sterling traders may also keep an eye on the U.K. PMI report due for release at 8:30 UTC.

After yesterday’s quiet trading we expect higher volatility today and wish you good trades.

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 Depreciate Against U.S. Dollar

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Dear Traders,

Monday’s worst performing currency was the British pound which fell towards 1.3250 after weak U.K. manufacturing figures prompted concerns over the country’s health. The GBP/USD extended its slide this morning and tagged a low at 1.3229. On the other side, a stronger U.S. dollar contributed to the cable’s decline. After testing the crucial support area around 1.3230/1.32, we will shift our focus now to a significant break of that support-zone which could lead to further losses towards 1.3150 and 1.3050. With GBP/USD remaining below 1.34 we generally favor the bearish bias in short-term time frames.

The U.K. Construction PMI report is scheduled for release at 8:30 UTC, but this report is not expected to have a major impact on the pound.

The euro extended its slide against the greenback and fell towards 1.17. The U.S. dollar’s recovery was bolstered by a stronger ISM manufacturing sector activity index, which hit a 13-year high. As mentioned in our yesterday’s analysis we still wait for a significant break below 1.1680 in order to anticipate further losses in the EUR/USD.

There are no major economic reports scheduled for release today, so the price action could hinge on the appetite for dollars.

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

 

Trump Speech Leaves Investors Unimpressed

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Dear Traders,

Well, as a trader, we were expecting much more from Donald Trump’s address to Congress. The market reaction to Trump’s speech was muted as specific details on infrastructure have been elusive. Trump promised to spend as much as 1 trillion dollars on infrastructure but he did not specify the timing and what spending he is referring to. While there were no details, Trump’s speech was notably less confrontational than his inaugural address. The U.S. dollar slightly strengthened following the speech but large market movements are still yet to come.

The pound sterling dropped below 1.2380 and we now expect the GBP/USD to trend lower towards 1.2260/20. The pound will now need to break below 1.2340 but before we could see accelerating bearish momentum it may head back towards a test of the current resistance at around 1.2430.

The U.K. PMI Manufacturing is scheduled for release at 9:30 UTC and could have a minor impact on the pound.

The euro depreciated against the greenback after failing to break above 1.0630. We will now wait for a sustained break below 1.0520 before anticipating further losses. Below 1.0520 we could see the EUR/USD tumbling towards 1.0450. On the upside we expect the 1.0620-level to lend a current resistance to the currency pair.

From the Eurozone, we have the German Unemployment report scheduled for release today at 8:55 UTC followed by the German Consumer Price Index at 13:00 UTC.

The most interesting piece of U.S. economic data will be the ISM Manufacturing Index due at 15:00 UTC which could have a significant impact on the dollar, provided that there is a surprise.

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

 

 

 

Monthly Review: Profits Despite Recent Sideways Trend

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Dear Traders,

We welcome you to the trading month of December. While November has proven very profitable for day traders yesterday’s trading was not to our liking as we had to give up some monthly gains with both currency pairs trading directionless sideways. The U.S. dollar was supported by better-than-expected private jobs data but the euro found some halt slightly above 1.0550. Our short-entry therefore failed to provide a sustained profit. The British pound seesawed between 1.2515 and 1.2420 and thus our daily entries were unfavorably triggered before prices reversed. On balance, however, we look back at a successful month in November with a profit of 509 pips generated by our daily signals, as well as 125 pips by our monthly swing signals.

Given investor’s risk aversion ahead of tomorrow’s U.S. non-farm payrolls report and the Italian referendum on Sunday, we do not expect huge market movements today. Nonetheless we will keep an eye on incoming data releases such as the German Manufacturing PMI (8:55 UTC), U.K. Manufacturing PMI (9:30 UTC) and ISM Manufacturing due at 15:00 UTC.

EUR/USD

The euro is still confined to a sideways trading range and we will wait for breakouts either above 1.0670 or below 1.0560. Euro bulls should however bear in mind that any upward movements might be limited until 1.0715.

chart_eur_usd_4hours_snapshot1-12-16

 

GBP/USD

The cable seems to be headed towards a test of 1.2550 but let’s wait and see. Above 1.2560 the pound may climb towards 1.2670 and even perhaps 1.28. On the downside we will now wait for a sustained break below 1.24.

chart_gbp_usd_daily_snapshot1-12-16

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 2016 Maimar-FX.

www.maimar.co