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Summer Doldrums

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As expected, volatility remained at very muted levels in the past three days. Even though the focus now shifts to the U.S. jobs data, we recommend traders not to invest too much or consider a summer trading break.

The Federal Reserve minutes reinforced the central bank’s hawkish stance with almost all Fed officials indicating that further tightening is likely. The dollar received a slight uplift yesterday.

EUR/USD: As long as the euro remains below 1.1050, we favor a bearish bias with a lower crucial target at 1.05.

GBP/USD: The cable consolidated between 1.2760 and 1.2590. We will wait for price breakouts above or below this range.

DAX: The index corrected its recent gains and fell back below 16000. As long as it remains above 15700, we anticipate a bullish swing back until at least 16150.

 

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!

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Low Volatility Ahead?

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Last week ended with an increase in risk sentiment with the euro and British pound strengthening against the U.S. dollar and the DAX jumping back towards 16200. Friday’s U.S. PCE index came in lower-than-expected, erasing recent gains in the dollar.

The U.S. markets will be shut for the Independence Day holiday tomorrow, which could result in a quiet trading session to the start of the week.

On the economical docket, the only interesting data release will be the U.S. labor market report on Friday.

We bear in mind that the summer doldrums now in July could lead to quieter trading conditions and less chances to profit. Traders should therefore not invest too much, trade with smaller positions or just take a summer trading break.

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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

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Quiet Market

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Not much has changed in the Forex market on Monday. Both of our major currency pairs traded consolidated within narrow price ranges and this picture could continue in the days ahead. We recommend traders not to invest too much and stay on the sidelines until market conditions change.

We remind traders that the week before the U.S. Labor Day holiday is notorious for its quiet and illiquidity. In other words, big market moves could be missing in the coming days.

EUR/USD

Since the pair remains in overbought territory while testing the 1.1830-resistance area this morning, we prepare for a correction in the latest upward movement. For the bullish movement to continue, we will keep tabs on a break above 1.1860 which could see a test of 1.1890-1.1920. Dollar bulls, on the other side, will have to wait either for a sustained break below 1.17 or a failed attempt to break above 1.19 in order to push the pair lower towards the crucial 1.16-support.

GBP/USD – As long as the cable holds above 1.3650-10, we see a next resistance at around 1.3820. An upside break of 1.3910 could spur bullish action towards 1.40. Breaking, however, significantly below 1.36 could pave the way for a sell-off towards 1.34.

 

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No Big Movements As Powell Reiterates Dovish Stance

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Federal Reserve Chair Jerome Powell told the House Financial Services Committee Wednesday that it was still too soon to scale back asset purchases while acknowledging that recent inflation readings had been “higher than expected”. On the other hand, he said that if high inflation persisted “we would absolutely change our policy as appropriate”.

In short, Powell reiterated his dovish stance and signaled that the Fed will be patient in tightening monetary stimulus since ‘substantial further progress’ is still a ‘ways off’.

The U.S. dollar slightly weakened after Powell’s speech but there were no significant market movements.

Powell will face more questions from the Senate banking panel today.

Summer is in the markets and given a lower-liquidity backdrop across many markets during the summer months the potential for range-bound conditions is high. We therefore recommend traders staying on the sidelines during these low-liquidity periods, taking a break from the markets and adjusting risk exposure. The next major risk event will be later in the summer with the Jackson Hole Economic Symposium August 26-28.

We will take our annual summer trading break from August 2 to August 20 but will adjust risk exposure even in the month of July.

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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Euro And Cable With A Slight Upward Tilt

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Dear traders,

The low volatility environment in the Forex market didn’t provide any profitable trading chance Monday.

The EUR/USD was confined to a very tight trading range between 1.1880 and 1.1850. Above 1.1910, bulls may want to try a test of 1.1950 but traders should not expect too much in thin summer markets.

The GBP/USD finally broke above 1.3865 and could now be heading for a test of 1.3930. A short-term support is seen at 1.3850.

Summer is in the markets and given a lower-liquidity backdrop across many markets during the summer months the potential for range-bound conditions is high. We therefore recommend traders staying on the sidelines during these low-liquidity periods, taking a break from the markets and adjusting risk exposure. The next major risk event will be later in the summer with the Jackson Hole Economic Symposium August 26-28.

We will take our annual summer break from August 2 to August 20 but will adjust risk exposure even in the month of July.

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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EUR/USD And GBP/USD: Time For A Bullish Reversal?

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Friday’s U.S. jobs report came in with a mixed picture. While headline figures topped forecast with 850K jobs added in June, the unemployment rate climbed to 5.9 percent, which disappointed dollar bulls and Fed hawks. The latest report was thus seen as supporting the Fed’s accommodative stance. The greenback dipped as a result.

Both EUR/USD and GBP/USD slid to fresh lows around Friday’s NFP release but found support at around 1.18 and 1.3730. Technically and with the dollar price action coming under pressure following a mixed NFP outcome, the door could be open for bullish setups now.

EUR/USD

After the euro touched the support area around 1.18 from where we saw a quick pullback, we now expect some bullish reversal towards the current resistance zone between 1.1950 and 1.20. Bears in this pair, however, may watch out for a price break below 1.1780 or alternatively a test of the current resistance zone.

GBP/USD

The cable found a support at around 1.3730 and it will be interesting whether sterling bulls are able to push the pair back above 1.3850. An upside break of 1.3865 could lead to further gains towards 1.3930 and 1.40. As long as 1.37 holds we favor small rebounds.

Summer is in the markets and given a lower-liquidity backdrop across many markets during the summer months the potential for range-bound conditions is high. We therefore recommend traders staying on the sidelines during these low-liquidity periods, taking a break from the markets and adjusting risk exposure. The next major risk event will be later in the summer with the Jackson Hole Economic Symposium August 26-28. We will take our annual trading break from August 2 to August 20 but will also adjust risk exposure in the month of July.

U.S. markets are closed today for the Independence Day holiday so trading might be thin.

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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Euro And Cable In Tight Ranges Amid Thin Liquidity

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There was nothing to gain for traders in both EUR/USD and GBP/USD on Monday. Instead, we struggled with a whipsaw performance amid low volatility conditions. Even a downside break of 1.1910 in the EUR/USD failed to provide follow-through – at least until Tuesday morning.

As catalysts for bigger market moves lack, unprofitable trading conditions could possibly continue in the weeks ahead. Traders should therefore watch their risk assessment and stay on the sidelines as long as the summer doldrums impact trading conditions negatively.

Despite thin liquidity in the market, we expect some upside potential in the U.S. dollar ahead of Friday’s NFP report. We still see the risk tilted to the downside in both EUR/USD and GBP/USD with lower targets at 1.1870 and 1.18 in the euro and 1.38 and 1.3730 in the cable.

The DAX traded choppily between 15670 and 15540 yesterday and was unable to settle on a clear direction. Let’s see whether there could be bigger moves today.

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.

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No Profits In Thin Summer Market

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The U.S. consumer price index climbed 0.6 percent, the second-largest advance in more than a decade. Simultaneously, U.S. treasury yields began to climb immediately after inflation numbers were released and while all these factors would have driven the U.S. dollar higher in the past, what we are seeing in present days is a lack of direction in the dollar’s performance. The greenback ended the day virtually unchanged against the euro and even lower against the British pound.

The EUR/USD trod water between 1.2195 and 1.2140, making it impossible for daytraders to benefit from these small swings. As expected, we heard nothing new from the European Central Bank where President Christine Lagarde renewed a pledge to deliver faster bond buying for now.

The GBP/USD on the other hand, trended upwards towards 1.4180 and more gains could be in play towards 1.4280.

Elsewhere, the DAX fluctuated choppily sideways without a clear direction. We will wait and see whether conditions change within the next days. For now, we will focus on a price range between 15800 and 15400.

All in all, it was none of our favorite trading days and if market conditions continue like this with the current summer doldrums accompanied by low volumes, a lack of direction and unprofitable sideways fluctuations it is not worth placing any trade.

We wish you 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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GBP/USD Holds Above 1.30

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Dear Traders,

Sellers in the GBP/USD remained in control after the U.K. CPI fell short of expectations. The soft inflation report is making a BoE rate hike next month less likely than previously expected. The pound tested the 1.3010-mark but was later able to stabilize above 1.3050. Higher resistances could now come in at 1.3150 and 1.3230. As long as the pound remains below 1.3230 we may see a dip towards 1.2950.

Sterling traders may keep an eye on U.K. Retail Sales today at 8:30 UTC.

For day traders of the EUR/USD there was nothing to gain Wednesday. The euro fell victim to a strengthening dollar but losses were limited to the 1.16-handle. As long as 1.16 holds we expect the pair to trade between 1.1720 and 1.1620.

Given the liquidity drain, traders should bear in mind that trading conditions could be challenging during the summer months. A proper risk management is therefore indispensable.

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

Quiet Trading

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Dear Traders,

U.S. inflation data came in line with expectations whereupon the dollar gave up some of its gains. However, the greenback had a rather mixed day while it ended yesterday’s trading day virtually unchanged against the euro and British pound.

Generally speaking, it seems that many market participants refrain from taking any larger positions now amidst the liquidity drain during the summer months. Therefore, we recommend to trade at a low risk or stay at the sidelines as long as risk events are lacking.

The Fed will deliver its monetary policy report to Congress today at 15:00 UTC.

We wish you a wonderful 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