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Euro Jumps On Migration Deal At EU Summit

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Dear Traders,

There was nothing to gain for day traders on Thursday with the price action in both major currency pairs EUR/USD and GBP/USD remaining limited to a tight trading range. Rather, we suffered losses while trying to benefit from the choppy swings yesterday. The moderate market development can be attributed to lacking fundamental headlines, while the first day of the EU Leaders summit ended without a deal on migration issues. However, those that had a look at the market in today’s early trading hours may have wondered what happened to the euro which showed an impressive rise towards a high at 1.1666. News that EU leaders have reached a deal on migration at the summit spurred the euro’s bullish price action in early Asian trading. The euro jumped at the prospect of the deal defusing a dispute over how to share the burden of immigration within the EU.

EUR/USD: As stated in yesterday’s analysis, as long as the 1.15-support holds we expect the euro to test the 1.17-resistance and possibly even the 1.18-handle.

GBP/USD: The pound rose in tandem with the euro this morning but was unable to overcome the short-term resistance at 1.3130, at least until now. A break above 1.3130 could result in an upswing towards 1.3150/70 whereas a renewed break below 1.3060 could lead to a test of 1.30.

Today we will watch the U.K. GDP Report, due at 8:30 UTC, followed by the Eurozone Consumer Price Index (9:00 UTC) and the U.S. PCE Index (12:30 UTC).

Have a wonderful weekend.

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We wish you good trades and many pips!

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Profitable Trading Month June

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Dear Traders,

The euro and British pound extended their rallies and further strengthened against the struggling U.S. dollar. With the European Central Bank and the Bank of England gradually shifting the tone toward a more hawkish stance, the euro and pound benefited against the greenback.

The EUR/USD approaches 1.15 and if U.S. key inflation data due at 12:30 UTC misses, we could see at least a test of the crucial 1.15-level. The PCE deflator is considered the Federal Reserve’s favorite inflation gauge and analysts expect the annual rate slowed to 1.4 percent.

The EUR/USD trades currently at 1.1445 and if the pair passes 1.1470, we could see the euro heading for a test of 1.15 and possibly even 1.1550. Sellers of the EUR/USD should either enter at higher resistance levels, taking advantage of potential pullbacks or wait for a decline below 1.1370.

Euro traders should keep an eye on the Eurozone Consumer Prices scheduled for release at 9:00 UTC.

The GBP/USD was able to hold above 1.30, at least for the time being. If the price breaks above 1.3060 we expect the cable to head for 1.3120. A crucial resistance is however seen at 1.3240/50. As long as the pair remains above 1.29, there is no cause for concern for sterling bulls.

The U.K. GDP is scheduled for release at 8:30 UTC.

Having gained a very good profit this month by our daily signals we will sit back today and secure our monthly profits. Have a good weekend.

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.

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Euro And Cable Fall In Thin Trading

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Dear Traders,

Trading was quiet on Monday with the euro and cable trading within tight trading ranges. Only at the end of the trading day, prices gathered momentum. The euro fell in thin trading below 1.1160 and headed towards 1.11. The cable dipped slightly below 1.28 but was able to hold above that support level. We now expect the 1.2760-level to lend some short-term support to the pound. Above 1.2865 however, the pound could head for a test of 1.2950/60.

EUR/USD

The euro broke below the 1.1160-support and as a result, bearish momentum accelerated. The euro might tend to test the 1.11-threshold before we see a reversal. On the upside we see a resistance at 1.1170 until which potential gains could be limited while on the bottom side, a crucial support area is currently seen at around 1.1080.

Important economic data for today:

12:00 EUR German Consumer Price

12:30 USA PCE Report

14:00 USA Consumer Confidence

(Time zone: UTC)

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

 

Euro And Cable: Sideways Movement Continues

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Dear Traders,

Despite better than-expected U.S. economic data the greenback refused to trade higher versus its major peers – this was at least the case in the EUR/USD and GBP/USD. Having already fully discounted a Federal Reserve rate hike in December, investors will now wait for fresh hints about the future rate hike path before entering new long-term positions.

The euro traded sideways and, as expected, the currency pair remained confined to a trading range of nearly 100 pips. While the support at 1.0560 is still intact the euro might tend to test the 1.0715-resistance level, before resuming its overall downtrend. However, if the euro is unable to trade above 1.0670 we will shift our focus to a renewed break below 1.0580.

The cable remained stuck between 1.2530 and 1.2385. A break above 1.2530 may send the pound slightly higher towards 1.2550 but for the pound to rise towards higher targets this resistance level must be significantly breached in order to ignite fresh bullish potential. On the downside we will keep an eye on a break below 1.24.

The Bank of England publishes the results of its annual bank stress tests alongside its Financial Stability Report at 7:00 UTC. Following the report, BoE Governor Mark Carney will hold a press conference, so sterling traders should keep an eye on the price development as the pound might be vulnerable to volatile swings.

From the Eurozone we have the German Unemployment Report scheduled for release at 8:55 UTC, followed by Eurozone CPI data at 10:00 UTC. Chances are that these reports will have a positive impact on the euro, pushing it towards 1.0715. Furthermore, ECB President Mario Draghi speaks in Madrid at 12:30 UTC.

Last but not least, it should be worth watching the release of upcoming U.S. data, such as the ADP report due at 13:15 UTC, PCE numbers at 13:30 UTC and the Fed’s Beige Book at 19:00 UTC.

So it could be an interesting trading day with hopefully profitable trading chances.

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 2016 Maimar-FX.

www.maimar.co

 

 

 

U.S. Dollar Slightly Strengthened After Turkey Airport Attacks

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Dear Traders,

After Tuesday’s recovery the euro and British pound dropped back to their lower levels where the rallies had started out yesterday. The rapid decline is due to an airport terror attack in Istanbul late Tuesday. Three suicide bombers killed at least 36 people at the entrance to the main international airport in Istanbul. Investigations indicated the Islamic State (IS) was behind the terror attack. The attack came at a time when Turkey is struggling with the biggest slump in tourism as a result of the ongoing terrorist threat in the country.

Overall, there is a considerable degree of uncertainty in the market which negatively influences investments as well as the economic environment. European leaders pressed the U.K. to lay out a Brexit plan as quick as possible in order to avoid further uncertainty. However, it may take some time as the U.K. will only start the EU withdrawal process once a new government has been installed. This could happen as early as September.

From a technical perspective not much has changed. The euro traded consolidated between 1.11 and 1.1035. While we are still looking for breakouts either above 1.1135 or below 1.10 the trading range has narrowed which is why traders should keep an eye on prices above 1.1085 for bullish and, vice versa, for prices below 1.1035 for bearish engagements.

The cable peaked at 1.3419 before trending lower again. Our focus shifts to a renewed break below 1.3270 before anticipating lower targets at 1.3220 and 1.3150. On the topside, the 1.3370-level is seen as a current resistance.

Apart from the EU-U.K. summit, German Consumer Prices scheduled for release at 12:00 UTC and the U.S. PCE index due at 12:30 UTC could have a minor impact on the currencies.

Daily Forex 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 2016 Maimar-FX.

www.maimar.co

 

 

 

Focus on NFP report

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Dear Traders,

Last Friday was characterized by an ongoing demand for U.S. dollars. The pound sterling stopped its fall at 1.5135, from where it recovered slightly. Given the oversold situation in the GBP/USD, chances are that GBP may head for another test of 1.5260 and 1.5285. The EUR/USD has found a support at around 1.1125/10. In order to revive fresh bearish momentum, the pair would need to break below 1.1080. Above 1.1220, euro bulls could drive the pair towards 1.1270 and 1.1315, but traders should be careful with any buy-attempts, as the focus is on Friday’s Non-farm Payrolls report and profit taking is likely to occur ahead of the report before investors could jump back into dollar long positions.

After Yellen’s hawkish comments last Thursday, market participants will watch the NFP report closely. The market is pricing in a rate increase by the end of the year, so depending on the details of the payrolls report, an October tightening could be the case. On the other hand, if the report falls short of expectations, we could see a short rally in the EUR and GBP.

This week starts off with interesting U.S. data such as PCE indices, scheduled for release at 12:30 GMT followed by Pending Home Sales due for release at 14:00 GMT.

Important economic reports this week:

Tuesday – German Consumer Prices and U.S. Consumer Confidence

Wednesday – German Unemployment and Eurozone Consumer Price Index

Thursday – U.S. ISM Manufacturing Index

Friday – Non-Farm Payrolls

Moreover, central bank officials are scheduled to speak this week, including Yellen, Williams, Dudley and BoE governor Carney.

We wish you a good start to this week.

Daily Forex signals:

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 2015 Maimar-FX.

www.maimar.co