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EUR/USD And GBP/USD: Uptrends On Shaky Ground

Welcome to the last trading week in May.

The euro was able to hold above 1.08 after a recent correction. As long as 1.08 holds, the short-term uptrend in the EUR/USD remains intact and we focus on a next leg up towards 1.0950 and 1.10. The euro’s recent uptrend is however on shaky grounds after the Federal Reserve conveyed a hawkish stance, emphasizing that the disinflation process is still slow and that high interest rates might persist due to elevated inflation pressures. The markets’ lack of conviction as to when U.S. interest rates will fall, could generally be a bearish call for the euro and pound sterling.

The only central bank which still seems to be on track to cut rates in June is the European Central Bank. Therefore, all eyes are on the ECB’s rate cut on June 6.

This week’s main focus will be on the U.S. PCE Index, due for release on Friday. A downward surprise would be bearish for the U.S. dollar.

And again, we are off to a quiet start this week as both the US and UK markets are closed on Monday. So, don’t invest too much, trade with smaller positions or stay on the sidelines for now.

 

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 2024 MaiMarFX.

Wait-And-See-Mode

Welcome to a new trading week. The focus this week will be on two significant economic data releases that could increase volatility in the U.S. dollar crosses. First will be the U.S. GDP for the first quarter (Thursday) and second the March’s core PCE data (Friday), the key inflation gauge for the Federal Reserve. Should both readings prove hotter-than-expected, traders could bet on the Fed maintaining higher interest rates for longer – a bullish outcome for the U.S. dollar.

Furthermore, geopolitical developments will play a major role and if there are signs of a potential de-escalation in the Middle East, the dollar could give up recent gains.

Risk management: We will start by a very low risk this week per trade since there are no major catalysts at the beginning of this week.

Let’s wait and see.

 

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 2024 MaiMarFX.

www.maimar.co

Happy Easter!

Trading conditions are expected to remain quiet on Good Friday but the PCE Index, due for release today at 12:30 UTC, could be interesting to keep an eye on before the Easter holidays.

We wish you a nice Easter holiday and all the best.

We will be back on the desks on Tuesday.

 

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.

Traders Brace For Volatility

Yesterday was nothing to gain but this could change today as traders await the looming release of the core PCE deflator, today at 13:30 UTC. The Federal Fed’s preferred inflation gauge can influence the central bank’s monetary policy outlook. A hotter-than-expected print would boost the U.S. dollar.

So, be prepared for volatility!

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 29/2/24:

EUR/USD

Long @ 1.0865

Short @ 1.0820

GBP/USD

Long @ 1.2685

Short @ 1.2640

DAX® (GER40)

Long @ 17640

Short @ 17540

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 2024 MaiMarFX.

www.maimar.co

U.S. Dollar Could Strengthen Ahead Of Thursday’s PCE Data

Last week was characterized by a weakening U.S. dollar which has pushed both Euro and British pound towards a test of critical resistances. The euro climbed above 1.0830 and surged to a test of 1.0888 from where euro bulls were however unable to turn the tide. At the opening of this week, we see the common currency again below 1.0830, waiting for some directional bias.

The cable touched 1.2710 amid the broad-based dollar weakness but remains sideways and still lacks direction.

The only high-flying trading instrument has been the DAX which shot above 17200 until a high of 17450. Bulls hope for more upward momentum – but only if the index is able to hold above 17000.

This week, traders prepare for the possibility of wild price swings on Thursday with the eagerly awaited release of January’s PCE data. A stronger-than-expected report could propel the U.S. dollar upwards. The core PCE is forecast to have increased by 0.4 percent compared to the previous month and a higher reading could prompt the FOMC to delay the start of its easing cycle and to deliver fewer rate cuts than anticipated.

Let’s be surprised.

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 2024 MaiMarFX.

www.maimar.co

ECB Meeting And U.S. PCE Data Will Take Center Stage

Welcome to a new trading week.

From a fundamental perspective, trading might be in quiet waters at the beginning of this week but towards the end of the week we have two high-importance data releases and events.

The European Central Bank decision will take center stage on Thursday. Most action will come from the commentary by President Christine Lagarde. Markets currently expect the ECB to cut interest rates in April, but Lagarde warned that’s too early, pointing to a summer rate cut instead. While traders hope for a timetable of when to expect the first cut, this ECB meeting will likely be too soon to hope for a strong guidance. If Lagarde is however successful in dampening rate cut expectations, the euro could briefly spark higher.

On Friday, the core U.S. PCE index will be important in shaping expectations for Federal Reserve rate cuts.

Looking at the technical picture, both EUR/USD and GBP/USD remain stuck in broad ranges. As long as currencies are struggling for momentum, traders are advised to focus on range trading and breakout levels.

EUR/USD – Watch out for breakouts above 1.10 or below 1.08.

GBP/USD – Sideways range is intact. Sustained breakouts above 1.28 or below 1.25 will be of interest.

DAX – We will focus on a bullish break above 16820 in order to try another push for 17000. Remaining above 16300 will favor bullish action.

 

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 2024 MaiMarFX.

www.maimar.co

Happy Holidays

As expected, there were hardly any profitable trading opportunities in this last trading week before the festive season. Those who stayed on the sidelines and did not reinvest monthly profits were better advised to do so.

Today, traders will keep an eye on the U.S. PCE index, due for release at 13:30 GMT.

After that, we will be heading into the Christmas and New Year break.

We wish you all happy holidays and a reflective time.

Our signal service for subscribers will resume on January, 8th 2024.

All the best,

The MaiMarFX Team


Wie erwartet gab es in dieser letzten Handelswoche vor den Festtagen kaum eine profitable Handelschance. Besser beraten waren jene, die sich aus dem Markt zurückhielten und keine Monatsgewinne reinvestierten.

Heute könnten Trader noch mal ein Auge auf den U.S. PCE-Index um 14:30 Uhr werfen.

Danach geht es für uns in die Weihnachts- und Neujahrspause.

Wir wünschen Ihnen allen fröhliche Festtage und eine besinnliche Zeit.

Unseren Signaldienst für Abonnenten gibt es wieder ab dem 8.1.24.

Alles Gute,

Ihr MaiMarFX Team

Risk Appetite Will Likely Wain

The positive risk sentiment stalled last Friday as we enter the final week before the Christmas/New Year break. Volumes are expected to turn sharply lower as well as the market’s risk appetite. On Friday we saw some sharp corrections from the euro and British pound’s lofty highs. Prior to that, the recent wave of optimism saw the euro and pound accelerating while the DAX printed a fresh all-time high at 17000.

DAX – The trend is our friend

The German Index rose to an all-time high of 17004. While we expect more upside momentum towards a next high at around 17200, we also pencil in an important support area between 16400 and 16500.

The U.S. dollar slid on the Federal Reserve’s dovish pivot last week, while the Bank of England and the European Central Bank both held their hawkish outlooks. In contrast to the Fed, which sees three 25bp rate cuts in 2024, expectations of a series of rate cuts by both the ECB and BoE next year were paired back.

EUR/USD – Not in an uptrend

Looking at larger timeframes such as the weekly chart, we see that the euro hasn’t formatted an uptrend so far since it remains still below the EMA200 at around 1.10. Should euro bulls make it above 1.1010, the next hurdle comes in at 1.1080 – the descending trendline. Only a clear break above 1.11 would increase chances towards a bullish bias.

GBP/USD – Working on a breakout

The cable seems to work on an upside breakout above the EMA200 at 1.2740. Above 1.2760, traders will focus on a renewed test of 1.28 and further 1.2850. On the other side, a current support is seen at 1.25.

We recommend traders not to reinvest their monthly profits this week as volume is thinning out. However, the U.S. PCE report, due for release on Friday, could be worth watching as weaker-than-expected numbers could reinforce the dollar’s recent decline, whereas strong numbers could trigger a bullish reversal.

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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PCE Index In Focus And Trading Signals For Today

U.S. dollar weakness continued and drove the euro and British pound to next higher targets. Elsewhere, the DAX broke above the 16050-threshold, heading towards 16300.

Today, the PCE data could bolster further bearish USD bets. Generally, the market is currently seeing a disinflationary trend that is bolstering dovish rate hike bets with the Federal Reserve expected to announce the first rate cut in 3-5 months, having just concluded their tightening cycle. This is the main reason why we see the dollar depreciating. U.S. PCE data today can further influence the greenback’s weakness as well as rate cut comments.

Inflation in Germany dropped to 3.2 percent which was a 0.4 percent sharper decline than forecast. Today, EU inflation data is due with estimates indicating another drop in the headline and core measures. A higher reading could pose a threat to the euro.

EU inflation data is due for release at 10:00 am GMT, followed by the PCE price index at 13:30 GMT.

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 30/11/23:

EUR/USD

Long @ 1.0990

Short @ 1.0940

GBP/USD

Long @ 1.2710

Short @ 1.2680

DAX® (GER40)

Long @ 16240

Short @ 16140

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

Inflation Data In Focus, Will Euro, Pound And DAX Extend Gains?

Welcome to a new trading week everyone after the holiday-stretched weekend.

All trading instruments have reached the targeted resistance zones but this raises question marks whether recoveries in the euro, pound and DAX can stretch beyond critical resistances.

On Thursday we will have the Eurozone’s flash inflation reading which is forecast to inch slightly lower in November from 2.9 percent to 2.8 percent. Easing inflation could pressure the euro.

The core PCE inflation gauge, also scheduled for release on Thursday, is forecast to have slowed too, with estimates pointing to a drop from 3.7 percent to 3.5 percent in October.

The EUR/USD has enjoyed a positive week, building on its recent rally. As long as the pair remains above the 200-EMA at around 1.0750, bulls can hope for a test of 1.10 and 1.1090.

The GBP/USD tested the 1.26-area where it oscillates at the start of this week. We now see a short-term support at 1.2530, followed by the lower 200-EMA support at currently 1.2415. A break above 1.2660 could open the door for run towards 1.27 and 1.2750.

The DAX surged to a high of 16047 while traders question whether there could be even more upside momentum in store. We prepare for some pullbacks from lofty highs and pencil in a next support at 15850. Above 16070, we will shift our focus to a next resistance at 16240.

 

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:

Facebook

Twitter

Instagram