Maimarfx – Page 5

Not Much Has Changed

March 25, 2021/in General News & Updates /by MaimarFX

Dear traders,

Not much has changed on Wednesday with the U.S. dollar steadying.

EUR/USD: As long as the pair remains below 1.19, we will favor falling prices with a next lower target at 1.1770.

GBP/USD: Bearish momentum appears to be continuing and we focus on lower targets at 1.3620 and 1.3570 from where we may see a rebound. A current resistance is however seen at around 1.39.

DAX: The index provided again some gain for short traders yesterday. We will now pay attention to an upside break of 14560 that could lead to further gains whereas on the downside, the area between 14450-14400 remains an interesting support zone.

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EUR/USD und GBP/USD anfällig für weitere Verluste

March 24, 2021/in General News & Updates /by MaimarFX

Der beste Performer war am Dienstag der U.S. Dollar welcher sich gegenüber dem Euro und Britischen Pfund verteuerte und Short Händlern im EUR/USD und GBP/USD einen guten Gewinn bescherte.

Federal Reserve Präsident Jerome Powell spielte in seiner gestrigen Anhörung das Risiko runter, dass das Wirtschaftswachstum eine unerwünschte Inflation anheizen würde. Er merkte an, dass die Geldpolitik weiterhin expansiv bleiben müsse. Powell und Janet Yellen werden heute nochmals zusammen vor dem Bankenausschuss aussagen.

GBP/USD: Wir sahen den Cable seine untere Seitwärtsspannenbegrenzung durchbrechen und in Richtung von 1.37 fallen. Nachdem das Paar nun unterhalb von 1.3750 gerutscht ist, erwarten wir weitere Verluste in Richtung von 1.3620 und eventuell sogar 1.3570. Die Zone zwischen 1.3870 und 1.39 auf der Oberseite könnte jetzt als ein tieferer Widerstand fungieren. Sterling Händler werden heute ein Augenmerk auf die U.K. Inflationsdaten am frühen Morgen, sowie auf den EMI Bericht um 9:30 Uhr haben.

EUR/USD: Das Paar rutschte tiefer bis 1.1836, ließ jedoch von einem nachhaltigen Bruch des März-Tiefs bei 1.1835 ab – zumindest vorerst. Wir rechnen mit weiteren Verlusten in Richtung von 1.18 und möglicherweise 1.1770 bevor wir eine Erholung sehen könnten. Damit sich die Chancen zugunsten der Bullen wenden, raten wir vorerst auf einen Bruch oberhalb von 1.1920 zu warten.

DAX: Nach Tagen der unprofitablen Bewegungen konnten wir gestern endlich wieder von der volatilen Seite im DAX profitieren. Wir verbuchten zunächst einen Short Gewinn mit dem Rutsch Richtung 14500 gefolgt von einer späteren erfolgreichen Kaufposition gen 14700. Ein Verbleiben zwischen 14670 und 14480 könnte nun eine Bullen Flagge im primären Aufwärtstrend des DAX’s bestätigen.

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Turnaround Tuesday After Monday’s Dollar Rally?

March 2, 2021/in General News & Updates /by MaimarFX

The U.S. dollar climbed against most major peers Monday and provided short traders, at least in the EUR/USD, a good gain.

The EUR/USD extended its slide towards 1.20 this morning and as stated in yesterday’s analysis, lower targets might be at 1.1970 and 1.19 now.

The GBP/USD finally broke below 1.39 and bears might seek to extend the downward movement towards 1.3850 and 1.3830.

It should however be noted that today is Tuesday and from our experience we know that Tuesdays have often served as turnaround days following a strong market trend on Monday.

In other words, if dollar bulls take a breather today, we could see some corrective movements in the major currency pairs. Looking for potential reversals, traders should pay attention to upside breaks above 1.3960 and 1.40 in the GBP/USD and above 1.2110 and 1.2150 in the EUR/USD.

The DAX tested the 14050 level but was unable to hold above 14000. As long as the index remains between 14160 and 13800, there is nothing new to report.

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Will GBP/USD Test 1.40 Before A Correction Is Due?

February 19, 2021/in General News & Updates /by MaimarFX

The best performing currency on Thursday was the British pound which surged to a high of 1.3986 (more than 100 pips from our long entry) on hopes of a powerful economic bounce as vaccinations in the U.K. continue to outpace those in the EU. Another reason for sterling’s rise was the lack of demand for U.S. dollars that buoyed the uptrend in the GBP/USD.

Looking at the weekly chart in the GBP/USD we see that the pair posted an almost straight-lined appreciation since September 2020, pushing the cable not only in overbought territory but also towards a crucial resistance zone around 1.40. While the overall uptrend is obvious, we remind traders to prepare for a correction as soon as the area between 1.40 and 1.4020 is tested. A higher support is now seen at 1.3860-50. Below 1.3830, a next lower target could be at 1.3750.

The EUR/USD trended higher on the back of a new round of dollar weakness but the pair remained below 1.21. Below 1.2040 we anticipate further losses towards 1.1970 whereas on the upside, we will wait for a sustained break above 1.2115 to anticipate further gains.

We wish you a beautiful weekend.

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Daily Forex Signals

February 18, 2021/in General News & Updates /by MaimarFX

The U.S. dollar traded higher against other major currencies after U.S. retail sales exceeded all expectations, rising by most in seven months.

The weakest currency was however the euro which slid below 1.2050 against the dollar, providing short traders a good gain. We believe that the EUR/USD could be vulnerable to further losses with lower targets being at 1.20 and 1.1970. A break below 1.1950 could even send the euro lower towards 1.19. As already mentioned in previous analysis, for bearish sentiment to change we would need to see a break above 1.2170.

The GBP/USD posted a linear decline after reversing from its high at 1.3952. As long as the cable remains below 1.3870, we anticipate a test of 1.38.

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EUR/USD

Long @ 1.2065

Short @ 1.2035

GBP/USD

Long @ 1.3880 Trade Hit TP

Short @ 1.3830

DAX® (GER30)

Long @ 14010

Short @ 13880

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FX Pairs in Tight Trading Ranges

February 12, 2021/in General News & Updates /by MaimarFX

Looking back on the last trading days this week failed to provide traders with large weekly gains. Both EUR/USD and GBP/USD remained in tight price ranges, providing almost zero trading chances. The DAX on the other side provided some volatile movements but unfortunately not in favour of huge gains. However, we are patient and wait for better opportunities in the next week, or maybe even today. Let’s see.

EUR/USD: Above 1.2155 the euro could head for a test of 1.2175. Below 1.21, the pair may dip to 1.2060. Chances are slightly in favour of the bears.

GBP/USD: The pair started to correct recent gains and could be on its way towards 1.3760 and possibly even 1.37. For bullish action to gain traction we would need to see a renewed break above 1.3860. A higher target is seen at 1.3950.

Have a nice weekend everyone!

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Daily Forex Signals

February 10, 2021/in General News & Updates /by MaimarFX

Daily Forex 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

EUR/USD

Long @ 1.2135

Short @ 1.2085

GBP/USD

Long @ 1.3835

Short @ 1.3785

DAX® (GER30)

Long @ 14130

Short @ 14040

Monthly results 2021:

January 2021: +472 pips

Results 2020:

December 2020: +318 pips

November 2020: +75 pips

October 2020: +432 pips

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Profitable Trading Week

January 29, 2021/in General News & Updates /by MaimarFX

Dear traders,

It has been a very profitable week for us and we recommend traders to save the profits now and sit back and watch the market. While there still might be some profitable opportunity today we note that today is the last trading day of the month, so why risking any gains now?

Our performance in January 2021:

+472 pips with a realized gain of $ 1888 by a very low risk of 1 percent on a 10K trading account and $ 4720 by a risk of 2.5 percent on a 10K trading account.

We wish you a beautiful weekend!

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Euro And Pound Poised For Further Strength But be Careful

January 25, 2021/in General News & Updates /by MaimarFX

Friday saw the euro tread water with the price reluctant to push above the 1.2180-mark. Thus, the technical picture in the EUR/USD has not fundamentally changed and we still anticipate another leg up towards 1.2250-70. If the pair is however unable to steady above 1.22 traders will focus on lower targets at 1.20 and 1.1960.

The U.S. dollar accelerated against other peers Friday as investors mulled the prospects for stimulus amid the worsening pandemic. There are warnings of longer and stricter lockdowns in the wake of mutant Covid-19 strains which might hinder a near-term economic recovery. The U.K.’s health minister warned that coronavirus vaccines may be less effective against new variants of the disease.

As for Wednesday’s Federal Reserve policy meeting, market participants hope that Federal Reserve Chair Jerome Powell will provide reassurance that $120 billion of monthly bond purchases won’t be tapered any time soon. Generally speaking, economists do not expect quantitative easing to be scaled back until 2022 so traders should not expect any surprises at the Fed’s meeting.

GBP/USD

The British pound managed to climb back above 1.37 after Friday’s depreciation against the U.S. dollar. Looking at the technical picture all signs are pointing to a further uptrend with a higher target seen at around 1.38. Sterling bears, on the other side, may focus on a decline below 1.36 in order to anticipate increased bearish momentum.

Daily Forex 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

We wish you good trades!

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Focus on Biden’s Economic Support Plans

January 14, 2021/in General News & Updates /by MaimarFX

U.S. President Donald Trump was impeached by the U.S. House for encouraging supporters before the Jan. 6 riot, making him the only U.S. president to be impeached twice. Trump’s term ends on Jan. 20.

The market, however, shrugged off the proceedings in Washington on Wednesday. The focus remains on further economic stimulus and a report indicated that President-elect Joe Biden plans a Covid-19 relief package of about $2 trillion. Biden is expected to announce his economic support plans later in the day.

The U.S. dollar slightly rose against other peers but most USD strength was seen against the euro sending the EUR/USD back to the recent 1.2140-support. The bigger the stimulus plan the more likely Treasury yields might extend higher and this could in turn help bolster the dollar.

EUR/USD: If the euro drops below 1.2130, a next important support level will be at 1.2050. On the upside, however, if the euro is able to rise above 1.2225, we anticipate further gains towards 1.2350.

GBP/USD: The cable stopped its rise at 1.37 but steadied above 1.36. As long as the pair remains above 1.3570 chances are in favor of sterling bulls. A break below 1.3530 on the downside could increase bearish momentum towards 1.34.

DAX: The index fluctuated in a narrow price range between 13980 and 13860. Earlier this morning it touched the 14000-level again and as long as the price remains above 13950, we could see further gains.