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Consolidative Trading Week

Dear traders,

Overall, it has been a quiet consolidative trading week with no significant market moves.

While there were no entries in the EUR/USD due to the lackluster price development, trading the GBP/USD has proved somewhat challenging in recent days even though we saw an uptick yesterday with the pound jumping towards the upper border of its sideways range. The reason for the pound’s recent rise were comments from Bank of England policy maker Gertjan Vlieghe who said that the BoE could raise interest rates early next year provided that policy makers see lower unemployment and subdued wage pressures.

We do not expect a change in the market’s muted performance today and recommend traders to secure profits at smaller levels or trade at a lower risk.

Have a nice weekend everyone.

We wish you good trades!

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Quiet Trading Environment

Trading in the Forex market was relatively quiet on Monday with the greenback slightly weakening against the euro and British pound.

Elsewhere, traders were able to profit from larger movements. The DAX tested the area around 15600 and our long entry thus provided a good gain.

Technically, the picture in both EUR/USD and GBP/USD has not substantially changed with short-term resistance levels at 1.2250 and 1.4250 remaining in focus.

As for the outlook in the U.S. dollar we remind traders that the Federal Reserve taper debate will return to the fore next month and if there is a corresponding rise in Treasury yields, we could see a fresh round of dollar strength.

Market conditions could however be quieter this week as major catalysts lack.

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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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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.

www.maimar.co

 

Sluggish Market Conditions

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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.

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

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.

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 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.

 

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