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Market’s Sell-Off Intensifies

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The market’s sell-off intensified on Wednesday and while we, as day traders, benefit from sharp market moves, the U.S. dollar’s strength is impressive given the threat around the U.S. debt ceiling and the risk of default. The greenback benefits from its role as a safe haven currency but with such a specific fundamental threat, investors should be careful.

GBP/USD – Pound at risk of sharp declines

The cable broke below all crucial support zones, losing over 2 percent this month while no one can say how low it might go. The mix of supply-chain chaos, faster inflation and the threat of interest rate hikes is causing anxiety among investors. Some investors might fear that an early rate hike will worsen the growth prospects for the U.K. From a technical perspective we know that bearish movements are typically stronger and more unpredictable than bullish movements. We therefore pencil in a next lower target at 1.32. Former supports can now turn into resistances, such as the former 1.36-support.

EUR/USD – We finally got the bearish break!

The euro broke below 1.1670 and headed for a test of the crucial 1.16-mark. Currently we see the pair holding above 1.16 but it could be only a matter of time until 1.16 breaks significantly. We now see a lower target at 1.15, whereas a lower resistance could come in at around 1.1690.

Today is the final trading day of September and our results for this trading month are quite good: +598 pips which is equal to a net profit of $ 2390 by a low-risk management of only 1% per trade.

 

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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Copyright © All Rights Reserved 2021 MaiMarFX.

www.maimar.co

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A profitable Trading Week

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Signal performance in September: +479 pips so far.

A profitable trading week is drawing to a close. As for our daily signals this week’s best performer was the GBP/USD, that provided a net gain of +115 pips in only two days of trading. The largest profit was generated by yesterday’s buy position which was opened at 1.3660 and closed at 1.3745.

The reason for the pound rally was the Bank of England which raised the prospect of hiking interest rates as soon as November to contain a surge in inflation. Yesterday’s decision puts the BoE in the more hawkish camp of global central banks, which is now expected being first for a hike, well ahead of the Federal Reserve.

GBP/USD: Remaining above 1.3620, we expect the pair to test the 1.3880-level.

EUR/USD: Chances are currently in favor of the bulls. We pencil in higher targets at 1.1770 and 1.1820.

DAX: If 15800 remains unbroken to the upside, we expect the index to drop back towards 15500. Above 15820, we will shift our focus again to the 16000-level.

Today we will save our weekly profits and wish everyone a beautiful weekend!

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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Profitable Trades

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We got what we have been braced for: A profitable breakout in both EUR/USD and GBP/USD. The surprise strength in U.S. retail sales raised the prospect of a Federal Reserve taper and thus strengthened the U.S. dollar. The Fed’s FOMC meeting next week is now another possible source of volatility as market participants await clues about the taper time-line and eventually interest rate hikes.

EUR/USD

The euro dropped below 1.18 and extended its slide to the support zone around 1.1750. We went short at 1.1790 and took advantage of that bearish move.

We also went short at 1.3820 in the GBP/USD yesterday and profited from the greenback’s strength until 1.3780.

Today we will save our weekly profit and will wait for the next week to offer some profitable movements.

Good weekend everyone.

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!

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

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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 @ 1.2115

Short @ 1.2070

GBP/USD

Long @ 1.4110

Short @ 1.4030

DAX® (GER30)

Long @ 15080

Short @ 15010 We already reached our big profit target of 100 points today 

 

Monthly results 2021:

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

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Bulls Profit In Euro And Sterling Rallies

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Instead of extending its correction towards 1.19 against the U.S. dollar, the euro jumped above 1.20 and headed quickly towards 1.2050. And the rally continues this morning with the euro soaring towards the higher target at 1.21 but we advise caution. The EUR/USD is in overbought territory and thus vulnerable for pullbacks, so do not get your fingers burnt.

The situation wasn’t any different in the GBP/USD which rallied towards 1.40. Stabilizing above 1.4020, we see a next higher target at 1.42 but here, too, the overbought situation calls for caution.

Those who wonder why the U.S. dollar came under increased selling pressure, it may be told that the market is in a risk-on mode where risky assets outperform havens such as the greenback.

Our long entries in both EUR/USD and GBP/USD have proved profitable and reached their profit targets.

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!

Any and all liability of the author is excluded.

Copyright © All Rights Reserved 2021 MaiMarFX.

www.maimar.co

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DAX Jumps To Almost 13300 on Covid-19 Vaccine Hopes

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Dear traders,

Stocks surged amid Covid-19 vaccine developments that fueled optimism that the world will soon have a potential way out of the pandemic. However, questions about safety and efficacy of the shot remain while it is still too early.

The DAX jumped to the highest level in almost two months, reversing shy of 13300. Our profit target appeared to be small, compared to the fact that yesterday’s bullish move turned out to be a more than 400-points-jump.

The euro hit 1.1920 before price reversed. In short-term time frames we now expect further losses in the EUR/USD.

The cable failed to find a clear direction and traded between 1.3210 and 1.3115.

 

Disclaimer: All trading ideas and expressions of opinion made in the instructions 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 2020 MaiMarFX.

www.maimar.co

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Profitable Sell-Off In EUR/USD And GBP/USD

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Dear Traders,

After several days of sluggish price fluctuations, yesterday has proved to be a profitable trading day in particular for short traders of the EUR/USD and GBP/USD.

The British pound continued its slide versus the U.S. dollar on the back of worse-than-expected U.K. inflation data. The annual CPI fell to 2.4 percent from 2.5 percent while the core CPI fell to 2.1 from 2.3 percent. Lower inflation could keep interest rates lower for longer with the Bank of England being in no rush to tighten monetary policy sooner rather than later. Thus, BoE rate hike expectations are pushed back to November.

The pound marked a fresh support at 1.3305 from where a slight recovery started. As long as pullbacks are limited to 1.34 and 1.3450, sterling bears might retain control.

The euro fell below 1.17 after the weak PMI reading put further pressure on the single currency. We now focus on the 1.1810-level which could act as a short-term resistance. A break below 1.1650 could open the door for further losses towards 1.1620 and 1.1550.

The FOMC Minutes had only a limited impact on the dollar’s price action. With the markets widely anticipating a Fed rate hike in June the minutes were not expected to reveal anything new. The only note in the statement that weighed on the dollar was that “it was premature to conclude that inflation would remain at levels around 2 percent”.

Today we have U.K. Retail Sales scheduled for release at 8:30 UTC. Furthermore, BoE Governor Mark Carney is scheduled to speak at the BoE Markets Forum in London.

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 2018 Maimar-FX.

www.maimar.co

 

 

USD Receives Boost But Uptrend In EUR And GBP Remains Intact

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Dear Traders,

We finally saw some reversal in the FX market after consecutive days of strength in both euro and pound. The U.S. dollar received a boost from encouraging comments from U.S. President Trump, who used the ‘strong dollar’ language in order to soften previous comments from U.S. Treasury Secretary Mnuchin who seemed to avoid the strong dollar policy. The sharp reversal happened after euro and pound have surged to new highs.

The euro took out the 1.25-barrier and rose to a high of 1.2537 on the back of the Eurozone’s improving outlook. ECB President Draghi declined to say that the euro was too strong while his comments on growth were relatively bullish. He said that the euro’s strength was in part down to the regions improving outlook. In short, Draghi’s commentary was not enough to trigger a reversal in the euro’s uptrend. Thus, euro traders should generally expect further euro strength, anticipating higher targets in the EUR/USD at 1.2560 and 1.27.

The British pound was able to extend its gains towards 1.4350 before a sharp reversal occurred, sending the cable back below 1.42.

Today, traders will pay attention to the U.S. and U.K. 4Q GDP figures, which could affect the price action in both EUR/USD and GBP/USD. We will watch the release of the U.K. GDP at 9:30 UTC. The U.S. GDP is scheduled for release at 13:30 UTC.

We wish you good trades and a nice weekend.

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/

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 2018 Maimar-FX.

www.maimar.co

 

 

Potential U.S. Government Shutdown And Germany’s Coalition Talks In Focus

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Dear Traders,

The U.S. dollar continues to disappoint dollar bulls while being unable to find its footing against other major currencies. Market participants remain focused on the political risk potential around the U.S. government shutdown, which could take effect at the end of today’s trading day if no budget deal is reached. With developments in Washington being the primary focus, the dollar could remain under pressure.

The University of Michigan’s Consumer Sentiment Index is due at 15:00 UTC, but this report might only have a limited impact on the greenback.

The pound sterling gained further ground against the dollar and seems to be well on track to recover its post-Brexit referendum losses. The GBP/USD followed the recent uptrend and climbed back above 1.39 after finding fresh support at 1.38. If the pound holds above 1.3850 we could see a bullish run for 1.40 and possibly 1.4040.

The U.K. Retail Sales report is due at 9:30 UTC today and could have a minor impact on the pound’s price action.

The Euro held above 1.22 but traders should be aware of profit-taking ahead of the upcoming ECB meeting next week. There is increased speculation that ECB President Draghi will seek to talk the Euro lower following its rapid appreciation. Apart from the ECB’s monetary policy, there will be a vote by the Social Democrats in Germany to begin talks regarding a grand coalition this weekend. If the SPD votes against a coalition the euro could suffer a setback.

From a technical perspective we keep tabs on the 1.2350-level which could serve as a short-term resistance in the EUR/USD. Euro bears should however wait for prices below 1.2190 in order to expect accelerating bearish momentum.

We wish you good trades and a beautiful weekend.

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/

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 2018 Maimar-FX.

www.maimar.co

 

Profitable Trading Day For Sterling Bulls

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Dear Traders,

The euro came under pressure Wednesday after ECB officials addressed the pace of the euro’s rise, which is only natural after the single currency’s rapid appreciation. Governing Council member Ewald Nowotny argued that the appreciation in the single currency ‘is not helping’ the ECB in terms of price stability. The euro dropped below 1.22 after rejecting the 1.23-resistance. Ahead of the ECB’s policy meeting next week, we might see more profit-taking and consolidation in the EUR/USD.

The British pound, on the other side, took out the 1.3850-hurdle on hawkish comments from MPC member Michael Saunders. He said that interest rates will likely have to rise faster than the markets are currently anticipating in 2018. His assumption spurred bullish momentum in the GBP/USD, sending the currency pair to a high of 1.3943. However, with a potential BoE rate hike still several months away, the pound was not able to hold onto its high level and corrected some of its gains. For day-traders, it was a very profitable trading day with both of our yesterday’s long entries hitting their final profit targets.

EUR/USD

Most recently, the euro traded with a downward tilt and we will thus focus on a trading range between 1.2250 and 1.21. A break above 1.2260 could spur further bullish momentum whereas a break below 1.21 could lead to further losses.

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/

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 2018 Maimar-FX.

www.maimar.co