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Risk-Off Mode In The Market

Dear Traders,

It seems that market participants are shying away from any risk right now.This risk aversion leads to unsteady and trendless markets with limited swings. Also, we have a U.S. market holiday on Wednesday which is why market participants may prefer to stay on the sidelines until Thursday. Thus, we didn’t see larger swings Monday with both EUR/USD and GBP/USD remaining confined to relatively tight trading ranges.

EUR/USD: Looking for short-term price breakouts, we are keeping tabs on a break either above 1.1680 on the upside or a break below 1.1570 on the downside.

GBP/USD: Looking for short-term price breakouts, we are keeping tabs on an upside break either above 1.32 or a downside break below 1.3090.

The only piece of economic data today will be the U.K. Construction PMI due at 8:30 UTC. From the U.S., we have Durable Goods Orders at 14:00 UTC but none of these reports is expected to trigger larger fluctuations in the market.

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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.

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U.S. Dollar’s Climb Slows

Dear Traders,

Trading has been quiet on Monday with both pairs consolidating within tight ranges. While the EUR/USD headed for a test of 1.19 providing short traders a small profit, trading the GBP/USD was a little choppy and left much to be desired.

GBP/USD: The short-side continuation proved to be a challenge in this pair after a crucial support was marked at 1.35. However, as long as the cable remains below 1.3590 we favor the downward movement.

EUR/USD: The euro was able to hold above 1.19, at least for the time being. For bearish momentum to accelerate we will wait for the price to drop below 1.1880. As mentioned in yesterday’s analysis, euro bulls should better wait for a break above 1.20.

There are no interesting reports scheduled for release today. Fed’s Chairman Powell will speak at an event in Zurich at 7:15 UTC, but his speech may have no direct impact on the dollar.

In terms of global political risk, the U.S. dollar could be moved by U.S. President Trump’s Iran deal decision today at 18:00 UTC. Trump will announce whether the U.S. will leave the 2015 Iran nuclear agreement.

 

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 2018 Maimar-FX.

www.maimar.co

Moderate Recovery In EUR/USD And GBP/USD

Dear Traders,

On Tuesday we finally saw some corrective movements in both EUR/USD and GBP/USD, even though yesterday’s pullbacks have been rather modest in terms of profitable movements.

The British pound was able to recover some of its recent losses and rose back towards 1.40. Given the recent bearish bias, we now expect the GBP/USD to trade within a price range between 1.4030 and 1.3820. For bullish momentum to accelerate we would need to see a breakout above 1.4035. A higher target could be at 1.4080.

The euro trended upwards after it has marked a fresh support at 1.2180. We mentioned in yesterday’s analysis that there could be a next resistance at 1.2240/50 and that level has proven stable for the time being. If the euro is able to overcome that barrier and rises significantly above 1.2250, we anticipate a higher price target at 1.2280/90. On the bottom side, we keep tabs on a price break below 1.2175 that could result in further losses towards 1.2090.

There are no major economic reports scheduled for release today so the price action could be subdued ahead of the ECB meeting tomorrow.

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 2018 Maimar-FX.

www.maimar.co

Quiet Trading On Easter Monday?

Dear Traders,

European markets are still closed on Monday for the Easter holiday, so trading could be relatively quiet at the beginning of this week.

The most important piece of economic data this week will be the U.S. Nonfarm Payrolls Report on Friday. Today, we have the ISM Manufacturing Report scheduled for release at 14:00 UTC, which may spur some volatility in the market.

Both of our major currency pairs remained range-bound amidst a low-liquidity market environment.

EUR/USD: The euro may find some support around the 1.2250-level but if it drops below 1.2240 it may extend its slide towards 1.2190. On the top-side we see a current resistance at around 1.2480.

GBP/USD: The pound still holds above 1.40 but for how long? If that crucial barrier is significantly breached to the downside, we anticipate lower targets around 1.3880. A climb above 1.4080 may spur some bullish momentum in the market.

We wish you a good start to the new week.

 

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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

 

EUR/USD And GBP/USD Trade Lower In Thin Trading

Dear Traders,

Market conditions on Monday were quiet with U.S. markets being closed for President’s Day holiday.

EUR/USD: The euro dropped to a low of 1.2369 in thin trading. We currently see the possibility of further losses towards 1.2345, provided that the euro remains below 1.24. A break above 1.2415 could, however, spur some bullish momentum towards 1.2435 and 1.2460.

The German ZEW Survey Expectations are scheduled for release at 10:00 UTC but this report is not expected to have a major impact on the euro’s price action.

GBP/USD: The pound sterling traded with a downward tilt Monday but bearish momentum came to a halt slightly below 1.3960. As long as the pound remains unable to stabilize above the 1.40-level, we prepare for further losses towards 1.3920 and 1.3895. If sterling bulls are able to push the pair above 1.4020 we could possibly see a run for 1.4050 and 1.4070.

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 2018 Maimar-FX.

www.maimar.co

 

Pound Drops On Risks Of Hard Brexit But Sideways Trading-Range Remains Intact

Dear Traders,

Heading into the final trading days of 2017, volatility is expected to remain low in the run-up to the Christmas holiday. There are no significant drivers or market-moving data releases on the economic calendar which is why we recommend taking a cautious approach to new investments now.

The British pound fell to a low of 1.3301 last Friday on risks of a hard Brexit. The second phase of Brexit negotiations between the U.K. and EU will be even harder than the first and investors are skeptical that U.K. Prime Minister Theresa May will achieve a soft landing when U.K. leaves the EU in 2019.

GBP/USD

While we currently favor a sideways trading range between 1.3480 and 1.3280 the risk appears to be tilted to the downside. If the pound falls below 1.3260 we expect further losses towards 1.32. However, even if larger movements are unlikely given the liquidity drain, traders should always expect the unexpected.

EUR/USD: The euro was little changed with the crucial support at 1.17 remaining intact. As long as the euro trades between 1.1920 and 1.17/1.1660 there is nothing new to report.

The economic calendar is relatively quiet this week. The U.S. GDP report (Thursday) may receive some attraction even though no surprises are expected. Traders may also keep an eye on the PCE Index and Durable Goods Orders (Friday) but all these reports might be of less importance as the year draws to a close.

Sterling traders may listen to comments from Bank of England Governor Mark Carney on Wednesday when he speaks at a Parliament Hearing in London.

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

 

Markets To Enter Quiet Trading Period

Dear Traders,

With all major risk events now behind us, there was little movement in the market Thursday as many market participants around the globe are gradually leaving for the Christmas holidays. Given the seasonal liquidity drain we recommend taking profits at smaller targets now or staying on the sidelines, considering a trading break around this period.

The euro weakened against the U.S. dollar after ECB President Mario Draghi sounded cautious about the prospect of higher inflation in the coming months even though the economic outlook remains positive. The ECB unveiled updated economic projections that showed continued growth over the next three years but despite that positive outlook, the central bank is not planning to raise rates anytime soon. In a nutshell, with the ECB still being far from raising rates, euro bulls did not see a reason to push the euro higher -at least not for the time being.

The pound was little changed following the Bank of England’s monetary policy announcement. As expected, the BoE left interest rates unchanged and following the latest BoE rate hike in November, the central is not expected to raise rates in the coming months.

GBP/USD: In short-term time frames we expect the currency pair to trade between 1.35 and 1.33.

EUR/USD: The 1.17-support remains in focus and if the euro drops below that important barrier, we expect further losses towards 1.16. Above 1.1930 however, the euro could head for 1.2050.

We wish you a beautiful and peaceful pre-Christmas period.

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

EUR/USD Approaches 1.1860, Next Target At 1.1905?

Dear Traders,

As expected, there was little movement in the Forex market with U.S. markets closed for the Thanksgiving holiday. These quiet conditions may continue today which is why we advise traders not to expect too much from the market and better stay out of new engagements or take profits at smaller targets.

EUR/USD: The euro traded with a tailwind and rose towards 1.1860. Once that level is breached we may see the euro extending its gains towards 1.1895. We bear in mind that the next crucial resistance level comes in around 1.1905. As long as the pair remains above 1.1770 the near-term bias is considered slightly bullish.

GBP/USD: The cable rejected the 1.3340-barrier and dropped back below 1.33. We now expect a near-term support to come in near 1.3265 from where we may see some leg up. Once the cable breaks above 1.3340 we anticipate further gains towards 1.3370 and possibly even 1.34. However, we recommend taking a cautious approach to markets that are illiquid.

Have a nice 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/

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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

Forex Market Remains Subdued

Dear Traders,

The price action in both EUR/USD and GBP/USD remains subdued amid the lack of market-moving economic reports and risk events throughout this week.

EUR/USD: The euro stabilized above the 1.1550-level and appears to be headed for another test of the 1.1615-resistance. If the 1.1615/20-barrier gives way to fresh bullish momentum we may see the euro rising towards 1.1650/60. For bearish momentum to accelerate it would need a sustained break below 1.1520.

GBP/USD: The cable traded with a tailwind after it rejected the 1.31-support. We now focus on a potential trading range between 1.3220 and 1.3130. Sterling bulls could benefit from price breakouts above 1.3180 while bears should wait for prices below 1.3130 in order to sell sterling towards 1.31 and 1.3070.

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/

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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

EUR/USD And GBP/USD: Rebounds May Be Short-Lived

Dear Traders,

Markets were relatively quiet at the beginning of this eventful week while both GBP/USD and EUR/USD were accompanied be a slight upward tendency. We believe that the slight rebound in the euro and British pound could be of a temporary nature as the U.S. dollar faces some event risks with the FOMC decision and Non-Farm Payrolls report on tap. Dollar bulls may tend to jump back in ahead of these events.

The EUR/USD recovered some losses towards 1.1660 but this small recovery could prove to be a correction within a downtrend. For the bias to shift from bearish to neutral euro bulls would need to push the single currency beyond 1.18. As long as the euro remains below 1.18 we favor the bearish bias and focus on a price breakout below 1.1550.

The Eurozone Consumer Price report is due for release today at 10:00 UTC but if CPI print is in line with expectations it will not affect the euro’s price action.

The GBP/USD traded with a tailwind but gains were capped at 1.3215. We consider the 1.3250-barrier to be a crucial short-term resistance in the cable. If the pound drops back below 1.3120 we may see further losses towards 1.3050.

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 2017 Maimar-FX.

www.maimar.co