Posts

EUR/USD Approaches 1.1860, Next Target At 1.1905?

/in /by

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 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 2017 Maimar-FX.

www.maimar.co

Forex Market Remains Subdued

/in /by

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 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 2017 Maimar-FX.

www.maimar.co

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

/in /by

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 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 2017 Maimar-FX.

www.maimar.co

Limited Price Swings Amid Lull In Volatility But Breakouts May Be Looming

/in /by

Dear Traders,

There was nothing to gain for traders of the EUR/USD and GBP/USD on Monday. Both major currency pairs were little changed with larger price fluctuations being absent. The euro fell to a low of 1.1725 before reversing its losses towards 1.18. In sum, trading the EUR/USD lately did not serve us well since larger price movements and breakouts are still lacking. However, this unprofitable trading phase could soon be over as the ECB meeting looms ahead. The ECB policy announcement is expected to bring clarity on the fate of the ECB’s asset purchase program but until then the euro may continue its sideways movement between 1.1850 and 1.17.

EUR/USD: If the pair breaks above 1.1790 it faces the next hurdle at 1.18 but given prepositioning ahead of the ECB meeting, it may trend higher, heading for a test of 1.1850/60. A current support is however seen at 1.1720.

The German Manufacturing PMI is scheduled for release at 7:30 UTC but this report is unlikely to have a major impact on the price action in the euro.

GBP/USD: Recent price action in the cable indicates that a bullish breakout may be imminent. We see prices formatting an inverted head-shoulders pattern after failing to break the 1.31-support significantly. We now prepare for upcoming bullish momentum driving the cable towards 1.33 and possibly 1.3370.

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 2017 Maimar-FX.

www.maimar.co

 

U.S. Dollar Directionless Despite Strong U.S. Data

/in /by

Dear Traders,

There was little consistency in the performance of the U.S. dollar on Wednesday despite the unexpected strength of the ISM Non-Manufacturing data. The jump in the ISM services index is an argument in favor of further Federal Reserve rate hikes. While this should actually be positive for the greenback, we saw EUR/USD and GBP/USD trading sideways.

GBP/USD

Bearish momentum is not fading and it seems as if the pair tends to test the lower support zone at 1.32-1.3150 before starting a potential reversal. Based on the current downtrend channel we expect a short-term resistance to come in at around 1.33. Above 1.3315, a next target could be at 1.3350.

Looking at the economic calendar, the only interesting piece of data will be the ECB minutes due for release at 11:30 UTC. Investors brace for monetary policy changes at the European Central bank and expect such decisions to be made at the next ECB meeting on October 26. Speculation about monetary policy tightening at the ECB have a generally positive influence on the euro.

If the euro climbs back above 1.1810 and further 1.1835 it could be headed for a test of 1.19. On the bottom side, the focus remains on a break below 1.1680 and further 1.1660.

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 2017 Maimar-FX.

www.maimar.co

 

Euro And Cable Fall In Thin Trading

/in /by

Dear Traders,

Trading was quiet on Monday with the euro and cable trading within tight trading ranges. Only at the end of the trading day, prices gathered momentum. The euro fell in thin trading below 1.1160 and headed towards 1.11. The cable dipped slightly below 1.28 but was able to hold above that support level. We now expect the 1.2760-level to lend some short-term support to the pound. Above 1.2865 however, the pound could head for a test of 1.2950/60.

EUR/USD

The euro broke below the 1.1160-support and as a result, bearish momentum accelerated. The euro might tend to test the 1.11-threshold before we see a reversal. On the upside we see a resistance at 1.1170 until which potential gains could be limited while on the bottom side, a crucial support area is currently seen at around 1.1080.

Important economic data for today:

12:00 EUR German Consumer Price

12:30 USA PCE Report

14:00 USA Consumer Confidence

(Time zone: UTC)

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 2017 Maimar-FX.

www.maimar.co

 

All Quiet In The Market

/in /by

Dear Traders,

It has been a quiet start on Monday with the euro being stuck to a 40-pips range and the cable not showing much effort to break below its recent uptrend channel. The British pound found some halt around the lower barrier of its latest upward trend-channel at 1.2465 but it was unable to hold onto that high level and fell towards 1.24 this morning. If the pound breaks also below 1.2390, we expect further losses towards 1.2330 and 1.23. As noted in yesterday’s analysis, the cable will need to break the 1.26-level significantly in order to invigorate fresh bullish momentum.

Sterling traders will watch the U.K. Construction PMI, scheduled for release at 8:30 UTC. This report could have a short-lived impact on the pound.

The euro remained stuck between 1.0680 and 1.0640. We may see some accelerated momentum today but euro traders are unlikely to get any new insights into the ECB’s thinking from ECB president Mario Draghi who is scheduled to speak at 13:30 UTC in Frankfurt. If he does not refer to monetary policy, his speech will be a nonevent for traders. From a technical perspective, we expect the EUR/USD to trade between 1.06 and 1.07 in short-term time frames.

From the U.S. we have Durable Goods Orders due for release at 14:00 UTC but this report is only of secondary importance.

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 2017 Maimar-FX.

www.maimar.co

 

 

 

Quiet Trading

/in /by

Dear Traders,

The euro’s short-lived break above 1.0630 proved unsuccessful after euro bulls got fooled by the false breakout. It may require another test of that resistance level to finally invigorate further bullish momentum but the price action will also hinge on the appetite for U.S. dollars ahead of Friday’s payrolls report. However, from a technical perspective, nothing has changed and we still wait for prices either above 1.0630/40 or, on the other side, below 1.0490.

The pound sterling depreciated against the U.S. dollar but held steady above its 1.22-support. In short-term time frames, we now wait for a renewed break below 1.2230 in order to sell sterling towards 1.2190.  On the topside we anticipate the 1.2285-level to act as a current resistance. For the pound to rally, it would need to significantly break through the 1.23-level.

There are no major important economic reports scheduled for release today, so trading could be quiet again with market participants remaining risk-averse until the end of the week.

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 2017 Maimar-FX.

www.maimar.co

 

 

 

Euro And Pound Remain In Narrow Trading Ranges

/in /by

Dear Traders,

Both euro and British pound ended the trading day slightly lower against the greenback but there is still no trace of any breakouts of the narrow trading ranges. The U.S. dollar received a boost from U.S. President Donald Trump’s pledge to announce a “phenomenal” plan on taxes within the next “two or three weeks”, but these comments were not enough to trigger a lasting bearish trend, at least not in the EUR/USD and GBP/USD. Rather, the price action in both currency pairs remained restricted to current support and resistance zones.

Amidst a thin-liquidity environment, the euro is still caught between 1.0715 and 1.0640 so there is nothing new to report.

The cable refrained from a direct test of 1.26 and reversed shy of 1.2585. With the 1.2475-support zone still being intact we focus now on a potential head-shoulders formation in short-term time frames. The pound may head for another test of 1.2550 before it is poised for a significant break below 1.2475/70. Let us be surprised.

And once again there are no major economic reports scheduled for release today. The only interesting reports, which may have a minor impact on the currencies, will be U.K.’s Industrial and Manufacturing Production at 9:30 UTC and University of Michigan Consumer Confidence at 15:00 UTC.

This week was characterized by low volatility and thus little chances for profitable moves. We hope for better trading opportunities and more profitable movements next week. Have 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 2017 Maimar-FX.

www.maimar.co

 

 

 

Quiet Trading Environment

/in /by

Dear Traders,

Not much has happened in the market on Wednesday and trading can be described as very quiet. Market-moving economic data was still lacking and thus the price action in both major currency pairs was constricted to tight trading ranges. The technical picture has therefore not changed.

While none of our daily entries was triggered in the EUR/USD, the cable showed a slight upward trend towards 1.2550. The 1.2550-barrier is considered an important resistance and if the pound rises above that level we may see a continuation of the recent upward trend, driving sterling towards 1.26 and possibly even 1.2660. On the bottom side we will pay attention to a potential break of 1.2440. Lower targets could be at 1.2420 and 1.2320.

Bank of England Governor Mark Carney is scheduled to speak in London today at 18:30 UTC. This speech might be worth watching given accelerating inflation and recent hawkish comments. If Carney highlights a hawkish outlook despite the risks surrounding the U.K.’s exit from the EU, the pound could extend its gains. If he however, takes a neutral stance on monetary policy, sterling could fall back towards 1.24.

The euro traded between 1.0715 and 1.0640. As long as there is no fresh price breakout above or below this range, there is nothing new to report.

From the U.S. we have Continuing and Initial Jobless Claims scheduled for release at 13:30 UTC but these reports are of secondary importance to the greenback.

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 2017 Maimar-FX.

www.maimar.co