Posts

GBP/USD: Time For Bullish Breakout?

Dear Traders,

The euro proved unable to significantly overcome the 1.1720-hurdle, at least for now. Thus, there was nothing to gain for euro bulls at the beginning of this week. The British pound reversed shy off 1.33 and consolidated between 1.3250 – 1.3215. We may see more volatile movements today with U.K. employment numbers scheduled for release at 8:30 UTC.

GBP/USD: Chances remain in favor of a bullish break above 1.33 since the market is pricing in a 77 percent of a BoE rate hike next month. A higher target could be at 1.3360 followed by 1.3450.

Fed Chairman Jerome Powell is due to testify before the Senate today at 14:00 UTC. Powell is likely to reiterate that the U.S. economy is in a good shape but he will be grilled on the economic implications of trade wars. Traders should therefore keep an eye on USD crosses around his testimony.

Additional daily and long-term entries are available for subscribers.

View our daily signal alerts http://www.maimar.co/category/daily-signals/

Subscribe to our daily signal service http://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

 

 

U.S. Dollar Strengthened Against Euro And Pound – Now What?

Dear Traders,

The euro came down from its most recent high at 1.1720 while Tuesday’s decline in the EUR/USD was mainly due to a strengthening U.S. dollar. We now turn our focus to a day trading range between 1.1685-1.1630 and keep tabs on price breakouts either above or below that range in order to evaluate profitable trading chances in the near-term. If the euro is able to overcome the 1.1715-hurdle again, we expect accelerated bullish momentum towards 1.1820. As for the bears, the 1.1510/00-level remains of crucial importance in terms of a profitable breakout level.

The only piece of economic data today will be U.S. Durable Goods Orders at 12:30 UTC.

The British pound depreciated against the greenback and tested the 1.32-support level. As long as 1.32 holds we turn our focus to a break above the 1.33-handle. Below 1.3190 however, the pound may suffer further losses towards 1.3150 and 1.3070.

Bank of England governor Mark Carney is scheduled to speak about the Financial Stability Report today at 8:30 UTC although he is not expected to drift too far from the subject. Thus, the impact on the pound could be less significant.

Daily Forex Signals:

Additional daily and long-term entries are available for subscribers.

View our daily signal alerts http://www.maimar.co/category/daily-signals/

Subscribe to our daily signal service http://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

 

Pound Surges On BoE Rate Hike Speculation

Dear Traders,

The Bank of England delivered a hawkish twist at yesterday’s BoE meeting and the British pound responded with a short squeeze towards 1.3270. The MPC voted 6-3 to hold rates steady, but the fact that there were three dissents voting in favor of an immediate rate hike leaves room for speculation about a rate increase in August. Thus, odds for a rate hike at the next BoE decision in August have increased to 45 percent from 33 percent, which in turn pushed the pound sterling towards higher price levels.

Following yesterday’s short squeeze, we may now see some consolidated movement between 1.33-1.32. If the pound is, however, able to overtake the 1.33-handle we expect a higher resistance at 1.34. Traders should generally expect more strength in the pound as we approach the BoE August meeting.

As for the U.S. dollar, the last trading session was dominated by intense selling pressure with prices rebounding off an 11-month high. We will keep tabs on the technical picture but will also take into account volatile fundamental themes such as escalating trade tensions between the US and China which are continuing to roil the markets in the near-term.

The euro benefited from the selling pressure in the greenback and recovered some losses after sellers got shy as the euro approached the 1.15-boundary.

Technically speaking, we still see the EUR/USD confined to a sideways trading range between 1.17 – 1.15.  As long as this range holds, the outlook remains neutral. For the bias to slightly shift in favor of the bulls, we would need to see a sustained break above 1.1730 with higher resistances coming in at 1.1850 and 1.19.

Have a beautiful weekend.

 

Additional daily and long-term entries are available for subscribers.

View our daily signal alerts http://www.maimar.co/category/daily-signals/

Subscribe to our daily signal service http://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 Tests Crucial Price Levels

Dear Traders,

The British pound has broken lower against the U.S. dollar after rejecting the 1.34-hurdle. The cable is still trading within a bullish channel, at least as long as 1.33 holds. We therefore may see a run for 1.3420, provided that the pound remains above 1.3290.

The EUR/USD failed to show any signs of a sustained recovery Monday while the upward movement was limited to a high of 1.1744. As long as the euro holds above 1.1675 we may see a leg higher towards 1.1850. On the bottom side we will pay attention to lower supports at 1.16 and 1.1550.

This week we will see a slew of Bank of England speakers as well as ECB President Mario Draghi who is scheduled to speak in Frankfurt today at 13:00 UTC.

For sterling traders, the U.K. Services PMI due at 8:30 UTC might be of interest, followed by a speech of BoE member Cunliffe.

Daily Forex Signals:

Additional daily and long-term entries are available for subscribers.

View our daily signal alerts http://www.maimar.co/category/daily-signals/

Subscribe to our daily signal service http://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: Bearish Bias Persists

Dear Traders,

The euro traded within a 50-pip range between 1.1750 and 1.17 but despite that limited price range we were able to book a good profit with our daily long signal. Looking ahead, there are no major economic reports out of the eurozone in the next days, which is why we keep tabs on the technical picture in the EUR/USD. As long as the euro remains below 1.1790 and 1.1830, we favor a bearish stance in this pair.

The pound sterling rose to a high of 1.3422 after U.K. retail sales came in better-than-expected. However, that report was not enough to trigger a sustained recovery in the pound given that rate hike expectations are unchanged. Thus, the risk remains tilted to the downside.

With the GBP/USD trading below 1.34 and more importantly below 1.3430, the cable maintains its bearish bias, suggesting that sterling prices may continue to fall. We will wait for price breaks below 1.3360 and 1.3340 to anticipate further losses. Lower targets are seen at 1.33 and 1.3270.

Today, traders will watch the U.K. GDP report at 8:30 UTC and U.S. Durable Goods Orders at 12:30 UTC.

We wish you a beautiful weekend or long-weekend for those who have a holiday on Monday.

Daily Forex Signals:

Additional daily and long-term entries are available for subscribers.

View our daily signal alerts http://www.maimar.co/category/daily-signals/

Subscribe to our daily signal service http://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

 

 

 

Pound Marks Support At $1.34- But For How Long?

Dear Traders,

The U.S. dollar initially rose against the euro and British pound Monday morning but then ended the trading day virtually unchanged. Given these limited bearish movements, there wasn’t much to gain for short traders.

The cable has pushed down to a low of 1.3390 but the pair was able to stabilize above 1.34. Whether the 1.34-barrier will hold, remains to be seen but as long as GBP/USD remains below 1.35 we generally maintain a bearish stance in this pair. A significant break above 1.35 would shift the focus back to a previous sideways trading range between 1.36-1.35.

BoE Governor Carney will testify before parliament this morning at 8:15 UTC. Any new comments on inflation or monetary policy changes could get the pound moving.

The euro bounced off the 1.1715-level and corrected previous losses towards 1.18. The downtrend is still intact and as long as EUR/USD remains below 1.1850 we anticipate lower supports to come in at 1.1680 and 1.16.

Daily Forex Signals:

Additional daily and long-term entries are available for subscribers.

View our daily signal alerts http://www.maimar.co/category/daily-signals/

Subscribe to our daily signal service http://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: Preparing For Potential Short Squeeze Scenario

Dear Traders,

After the absence of a major driver or catalyst in the markets, today is loaded with market-worthy data and thus, traders are bracing for higher volatility in most major currency pairs. Top event risk will be the Bank of England rate decision with the BoE’s Quarterly Inflation Report. While the BoE is unlikely to raise interest rates at this meeting, it is the inflation report and the press conference with BoE Governor Carney that garner most attention.

The Bank of England will announce its rate decision alongside the release of the central bank’s inflation report at 11:00 UTC. The press conference will follow 30 minutes later.

Following the complete U-turn in rate hike expectations out of the BoE, the central bank has little choice but to signal a rate hike in August to maintain the bank’s credibility. The risk is therefore tilted to the upside with a potential short squeeze scenario in the GBP/USD. If the BoE, however, disappoint in terms of rate hike speculation deviating from their hawkish bias, the pound will further fall.

Another, no less important, report will be the April Consumer Inflation Report (CPI) from the U.S., which is due shortly after the BoE’s decision at 12:30 UTC. The Federal Reserve debate over a fourth rate hike in 2018 is still ongoing, which is why inflation figures could affect current rate hike speculation. Thus, a surprise in CPI data could have a major impact on the dollar, paving the way for some profit-taking or maybe an extension of the dollar rally.

Let’s take a look at the technical picture:

GBP/USD

The cable traded consolidated between roughly 1.36 and 1.35. The short-term bias is slightly bullish, with the focus now being on an uptrend channel between 1.3615 and 1.3515.  A break above 1.3810 could open the door for accelerated bullish momentum towards 1.40. On the bottom side, the 1.35-support remains a crucial price barrier. If the pound drops below 1.3480 we may see a drift towards 1.3330.

EUR/USD: The euro still trades around the falling trendline of its recent downtrend channel. As mentioned in yesterday’s analysis, the 1.19-barrier could prove an important hurdle for euro bulls now. A break above 1.1910 may encourage bulls for a test of 1.1950. Today’s price action will, however, hinge on the appetite for USD, which is why we focus on U.S. CPI data.

Additional daily and long-term entries are available for subscribers.

View our daily signal alerts http://www.maimar.co/category/daily-signals/

Subscribe to our daily signal service http://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

 

 

 

 

Nothing New From The ECB, Focus Now On U.S. GDP Numbers

Dear Traders,

The ECB meeting is behind us but we had hoped for some larger market moves yesterday with a bit more follow-through after the euro’s technical break below 1.2150. The reason why the ECB statement turned out to be less market-moving this time is obvious: The central bank made absolutely zero changes to its policy statement in comparison with the March meeting, keeping to its commitment to bond-buying at a monthly 30 billion euros until at least September with interest rates on hold “well past” then.

ECB President Draghi talked primarily about their confidence in broad-based growth and that inflation will converge towards the ECB’s target over the medium term. He refrained from discussing monetary policy and the end of asset purchases.

In sum, despite Draghi’s upbeat tone the ECB statement revealed nothing fundamentally new. The next time the ECB releases a new set of Staff Economic Projections will be in June.

The euro dropped below 1.2150 but found a lower support at 1.2095 for the time being. The EUR/USD is still in deeply oversold territory, so traders should prepare for pullbacks. We expect a current resistance-zone to come in between 1.2160-80 but given the strong bearish bias the focus shifts to a next lower target around 1.2060/50.

Yesterday’s trading in the GBP/USD was not to our liking as the pound traded choppily between 1.40 and 1.39. As for sterling bulls, the way is clear with buyers waiting for an upside break above 1.40. On the bottom side, however, sterling bears will have to wait for a break below 1.3875 in order to anticipate further losses.

We will watch the U.K. GDP numbers at 8:30 UTC which could have a major impact on the cable’s price action.

From the U.S. we have the Q1 GDP numbers scheduled for release at 12:30 UTC. The annualized growth rate is expected to register 2 percent down from 2.9 percent. If there is an upside surprise, the greenback could resume its rally and drive other major peers lower in return.

We wish you good trades for today and a nice weekend.

Additional daily and long-term entries are available for subscribers.

View our daily signal alerts http://www.maimar.co/category/daily-signals/

Subscribe to our daily signal service http://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 Tests Support, What’s Next?

Dear Traders,

It came as it had to come in the GBP/USD: The British pound retreated from its highs and corrected some of its recent gains. Before yesterday’s pullback happened, we saw the pound touching a fresh post-Brexit high at 1.4377 but the U.K. employment report put an end to the cable’s rally. As we warned traders yesterday, the pullback was inevitable given the overbought situation in the GBP/USD. The job report was, however, generally positive and likely to keep the Bank of England on track to raise interest rates next month.

Today we have the U.K. Consumer Price Report scheduled for release at 8:30 UTC. If inflation numbers come in weaker than expected, the pound could drop towards 1.4230/20. A significant break below 1.4220 could even open the door for a larger decline towards 1.4150. If the pound sterling is, however, able to gain ground above 1.43, buyers may take the opportunity to buy pounds at lower levels with a higher target at 1.4420.

The euro’s climb above 1.24 had been brief while the pair EUR/USD was unable to hold above that important threshold – at least for the time being. With the 1.24-barrier being a hart nut to crack, we now focus on the 1.2350-support which is equivalent to a rising trendline of the recent uptrend channel. Euro bulls should pay attention to a break above 1.2425 which could justify accelerated bullish momentum towards higher targets.

The Eurozone Consumer Price report is scheduled for release at 9:00 UTC but as long as there is no surprise in the headline figure, the report’s impact on the price action could be limited.

Daily Forex Signals:

Additional daily and long-term entries are available for subscribers.

View our daily signal alerts http://www.maimar.co/category/daily-signals/

Subscribe to our daily signal service http://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

 

 

Lackluster Price Development While Focus Remains On Syria

Dear Traders,

Geopolitical tensions have been on the lighter side yesterday but the situation remains fragile.

As long as the risk of military conflict between Russia and the U.S. in Syria remains high, we may see a lackluster price development in the market which provides little profitable trading opportunities. Traders should therefore maintain a cautious approach.

The euro traded with a downward tilt following relatively dovish ECB minutes. The minutes highlighted the appreciating euro as a cause of concern for the economic outlook in the Eurozone, as well as the risk of trade conflicts. While we anticipated short-term bullish sets after a test of either 1.23 or 1.2250, the price action in the EUR/USD remains more or less range bound despite the primary bullish trend.

Technically speaking, we now expect the euro to trade between 1.2380 and 1.2250. If the euro drops below 1.2280 it could be headed for a test of 1.2250/20. Whether we will see some more volatile (and hopefully more profitable) market movements in the Forex market will depend on the market’s risk appetite for currencies.

The pound sterling caught a bid and rose back above 1.42 following a test of the potential support level at 1.4145. We now expect the GBP/USD to trade within an upward trend channel between 1.43 and 1.4190.

The only piece of economic data today will be the release of the University of Michigan Sentiment at 14:00 UTC.

With the focus being on news on Syria, traders should stay alert to possible changes in sentiment but as long as the risk appetite among investors is low, trading might be quiet.

We wish you a nice and peaceful weekend.

Daily Forex Signals:

Additional daily and long-term entries are available for subscribers.

View our daily signal alerts http://www.maimar.co/category/daily-signals/

Subscribe to our daily signal service http://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