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Profitable Monday

The euro surged to a high of 1.0497 which was more than 100 pips from our yesterday’s long entry level and thus provided euro bulls a good profit. However, the common currency refrained from a break above 1.05 while trading today again below 1.04.

Also, our short position in the DAX has hit its profit target. As long as the index remains below 14500, we for the downtrend.

Our trading ideas for today 29/11/22:

EUR/USD

Long @ 1.0410

Short @ 1.0320

GBP/USD

Long @ 1.2025

Short @ 1.1975

DAX® (GER40)

Long @ 14480

Short @ 14420

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 2022 MaiMarFX.

www.maimar.co

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Forecast Confirmed

We got what we were looking for yesterday: Another upward move in the GBP/USD with a very good profit. That means for us to sit back and secure the weekly profit. Nevertheless, we have seen over the years that on the U.S. Thanksgiving holiday and following day there have been moves in the direction of the trend and thus good profits. So, make the best of it!

Our trading ideas for today 24/11/22:

EUR/USD

Long @ 1.0460

Short @ 1.0420

GBP/USD

Long @ 1.2115

Short @ 1.2075

DAX® (GER40)

Long @ 14470

Short @ 14420

Settings for all trades today: Entries from 8:00 am UTC, SL 25,

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 2022 MaiMarFX.

www.maimar.co

Follow us on social media:

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Turnaround Tuesday Around The Corner?

This volatile week started on a very profitable note. We booked an 80-points gain with the DAX’s slide and a 40-pips gain with the fall in the GBP/USD. We will secure some of these profits.

We know that following strong movements on a Monday we often see counter movements on a Tuesday – the so-called ‘Turnaround Tuesday’. So, what could we see today after yesterday’s bearish slide? Traders know the answer ;)

GBP/USD – Due for a correction amid a potential Turnaround Tuesday?

We bear in mind that the pair remains oversold which would justify a correction. However, the support area ranges from 1.3440 to 1.3370, so bears might push sterling a little lower before more bulls jump in.

DAX – Breaking all but one support

The index dropped like a stone and broke below 15300 and further below 15000. The fall stopped however shortly before the 14800-support which is also an ascending trendline of the DAX’s primary uptrend. If 14800 breaks, the next lower target will be 14400 followed by 14000. For the bullish trend to strengthen we will need to see a price stabilization above 15800.

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.

Try out our new signals for cryptocurrencies:

ETH/USD

Long @ 2420

Short @ 2340

We wish you good trades!

Any and all liability of the author is excluded.

Copyright © All Rights Reserved 2022 MaiMarFX.

www.maimar.co

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Profitable Breakout Trading Amid Narrow Price Ranges

Even though the pound sterling ended yesterday’s trading day virtually unchanged against the U.S. dollar, we got what we have been looking for before prices pulled back: A short-term price breakout with a profit target that was exactly filled.

In our morning analysis from October 26, we wrote “GBP/USD Time for a break-out? The cable traded in a narrow range recently which is why we now prepare for upcoming price breakouts. A renewed break above 1.3775 could spur bullish momentum towards 1.38 and possibly even 1.3830.

 

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!

Any and all liability of the author is excluded.

Copyright © All Rights Reserved 2021 MaiMarFX.

www.maimar.co

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Daily Forex Signals 28/9/2021

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 @ 1.1710

Short @ 1.1680

GBP/USD

Long @ 1.3730

Short @ 1.3685 Position has hit profit target

DAX® (GER30)

Long @ 15630

Short @ 15540 Position has hit final profit target

 

Monthly results 2021:

August 2021: +135 pips

July 2021: +34 pips

June 2021: +264 pips

May 2021: +528 pips

April 2021: +278 pips

March 2021: +45 pips

February 2021: +42 pips

January 2021: +472 pips

 

Results 2020:

December 2020: +318 pips

November 2020: +75 pips

October 2020: +432 pips

 

We wish you good trades!

Any and all liability of the author is excluded.

Copyright © All Rights Reserved 2021 MaiMarFX.

www.maimar.co

Follow us on social media:

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Daily Forex Signals

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 @ 1.1980

Short @ 1.1930

GBP/USD

Long @ 1.3940

Short @ 1.3910

DAX® (GER30)

Long @ 15660

Short @ 15580

 

Monthly results 2021:

May 2021: +528 pips

April 2021: +278 pips

March 2021: +45 pips

February 2021: +42 pips

January 2021: +472 pips

 

Results 2020:

December 2020: +318 pips

November 2020: +75 pips

October 2020: +432 pips

 

We wish you good trades!

Any and all liability of the author is excluded.

Copyright © All Rights Reserved 2021 MaiMarFX.

www.maimar.co

Follow us on social media:

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U.S. Dollar Under Pressure Post-FOMC, Focus Turns To U.S. GDP

The Federal Reserve offered, as expected, no fresh cues and said it will continue with asset purchases. The U.S. dollar started to weaken ahead of the Fed’s statement and accelerated its slide at the central bank’s virtual press conference. However, worries about earlier-than-expected tightening appeared to ease, which could be an early signal of the Fed’s hawkish shift.

Technically, we saw both FX pairs rising on the back of a weakening U.S dollar which was to be expected since there were no surprises from the Fed.

GBP/USD

As long as the pair holds above 1.38, the outlook remains bullish with the focus on the 1.40-reisstance. In case of a bullish breakout above 1.4020 we expect further gains towards 1.4150 and 1.42. Based on the current uptrend channel a higher support is now seen at 1.39.

EUR/USD

The euro was able to stabilize above 1.21 and as long as this crucial barrier holds, we see chances of further gains towards 1.22. But be careful: Given the straight-lined uptrend, the pair is in overbought territory and buyers may seek to take profits around 1.2180, so be aware of corrections. If the euro falls back below 1.2050, we could see a deeper correction towards 1.20.

DAX

The index’s price chart looks boring since there were no major fluctuations. Consequently, the current sideways range between 15400 and 15000 remains intact. A break above 15370 could open the door for a leg up towards 15450 and possibly even a renewed test of the high at 15500. Below 15140, we could see a test of the 15000-support.

Traders will watch the U.S. GDP figures today at 12:30 UTC, that could strengthen the greenback in the short-term, provided the reading will not fail to impress.

We wish you good trades!

Any and all liability of the author is excluded.

Copyright © All Rights Reserved 2021 MaiMarFX.

www.maimar.co

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British Pound Sharply Falls on Prospects of a No-Deal

Dear traders,

Friday’s disappointing U.S. employment data had little impact on the haven-linked U.S. dollar which largely underperformed. We decided not to trade Friday’s choppy movements in EUR/USD and GBP/USD and stayed on the sidelines.

Elsewhere, global equities aimed mostly higher as the world moved closer toward the first doses of a coronavirus vaccine.

The euro is eyeing the European Central Bank rate decision on Thursday where the ECB may increase bond-buying operations. Last week’s rise in EUR/USD took it to a high of 1.2177 and traders now wonder whether the ECB would intervene to weaken its currency. Generally speaking, the central bank is more likely to look at the euro’s value against the currencies of the EU’s major trading partners to evaluate the euro exchange rate. Nonetheless, bulls in the euro might be cautious ahead of the ECB decision, which is making a correction more likely in the next days.

What is expected from the ECB

No change in interest rates is expected but the central bank has hinted that it will ease monetary policy still further. An increase in its Pandemic Emergency Purchase Program (PEPP) of around 500 billion euro is the most likely level. Such action would normally weaken the currency but given the fact that these times are not normal, anything can happen.

EUR/USD Technical picture

On short-term time frames a double top-pattern could suggest upcoming bearish momentum, provided that the euro slips below 1.21. A lower target could be around 1.2040. However, if the euro rises back above 1.2180, gains may be extended until 1.22 but any bullish move could be on shaky grounds.

Brexit is the elephant in the room

The pound posted its largest decline in almost three months after Michel Barnier warned that Brexit talks could collapse in the next few hours. Optimism now turned to pessimism and sterling traders brace for a no-deal scenario.

GBP/USD Technical picture

The pound extended its gains until 1.3539 on Brexit optimism but now the facts count. In case of no deal, the pound will quickly erase its gains and could even fall towards 1.3050. The last important support was 1.34 early morning and now that the pound broke below 1.33, we will shift our focus to the 13220-00 support. On the upside we would need to see a rise back above 1.35 in order to encourage bulls for a run for 1.3580-1.36.

We went short this morning at 1.3370 and were able to book a good profit.

We wish you good trades!

Any and all liability of the author is excluded.

Copyright © All Rights Reserved 2020 MaiMarFX.

www.maimar.co

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EUR/USD And GBP/USD: More Gains To Come?

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