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Follow The Trend Until It Ends

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It’s the worst losing streak in the market since the 2008 financial crisis. Stock markets fall toward bear market, the euro drops toward parity with the U.S. dollar, the cable slides back toward 1.20 and also cryptocurrencies experience a major set-back. Market strategists expect this trend to continue and warn investors to prepare for a recession. While some optimistic traders are buying the dip while trying to pick a bottom, one thing is clear in a sell-off: You won’t know it’s over until long after it ends. And thus, we cannot predict what will happen and whether the sell-off will be over soon but we can follow the trend for now.

EUR/USD

We believe that the euro could slide even further touching 1.03 before it could try to recover some losses. A current resistance is seen at 1.06. We bear in mind that the pair’s all-time low is at 1.0340. A significant drop below 1.03 could see accelerated bearish momentum toward parity.

GBP/USD

If the pair is unable to break above 1.23, we see a next lower target at 1.20. The cable’s all-time low is at 1.1409.

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Market Sells-Off On Escalating Russia-Ukraine Tensions

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Risk aversion – Market sells-off.

Latest update: Russian President Vladimir Putin said he’s ordered a “special military operation” to protect the people of the Donbas separatist region, but said Russia will “aim for demilitarization and denazification of Ukraine.” Putin said Russia must “defend itself from those who took Ukraine hostage” — the U.S. and its allies who had crossed Russia’s “red line” with expansion of the NATO alliance (Source: Bloomberg).

Investors fled again into safe havens on escalating Russia-Ukraine tensions. The U.S. widened sanctions against Russia and the EU applied penalties to 23 high-level Russians. The West’s sanctions came after Vladmir Putin signed a decree officially recognizing two self-proclaimed separatist republics in eastern Ukraine. Separatist leaders in eastern Ukraine appealed to Putin for help fighting Ukrainian forces, adding into concerns that military conflicts in the region may escalate further.

The U.S. dollar benefited from its safe haven status, sending both pairs EUR/USD and GBP/USD lower. The DAX sold off, approaching the 14000-barrier this morning. Next bearish target is 13600.

EUR/USD: Below 1.1220, watch out for lower prices at around 1.11. A short-term resistance is seen at 1.1330.

GBP/USD: Below 1.3480, watch out for lower prices at around 1.34. A short-term resistance is seen at 1.36.

 

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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Faster-Than-Expected

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The bearish breakout in the DAX (discussed in yesterday’s analysis) happened faster than expected. The index slid even below 14400 amid a high degree of uncertainty in the market.

Given the strength of a bear market, we pencil in lower targets at 14200 and 14000.

Before (21/2/22):

After (22/2/22):

Daily Forex and DAX Signals:

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EUR/USD

Long @ 1.1320

Short @ 1.1275

GBP/USD

Long @ 1.3615

Short @ 1.3565

DAX® (GER30)

Long @ 14420 – 1st trade: -10 points, 2nd trade: +40 points

Short @ 14310

ETH/USD

Long @ 2620

Short @ 2490

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 2022 MaiMarFX.

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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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Could It Be A Turnaround-Tuesday?

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Contagion worries over China’s property sector crackdown have fueled a global selloff in the market.

Following Monday’s plunge, it seems that selling pressure eased off somewhat with the DAX finding support at the crucial 15000-mark – at least for now. Elsewhere, the EUR/USD bounced off the 1.17-support while the cable remained trading above 1.3630.

Is it turnaround-Tuesday today? Maybe, since a correction on a Tuesday was often the case in the past following big market moves on a Monday. So, watch out for some rebound today.

EUR/USD: If the euro is able to climb back above 1.1750, we expect the pair to test the 1.1770-1.18 price area. A current support zone remains intact between 1.17 and 1.1660. Only a break above 1.1850 would shift the sentiment in favor of the bulls.

GBP/USD: The pair is oversold, making a pullback towards 1.38 and even 1.39 likely now. Falling however below 1.3630 and further 1.36, a next lower target comes in at 1.3550.

DAX: Once 15000 breaks significantly to the downside, we expect the index to test 14800 in a next move. If 15000 however holds, we anticipate a rebound towards 15700.

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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Will U.S. Consumer Prices Spur Dollar Bulls?

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Dear Traders,

The U.S. dollar weakened against the euro on speculation the greenback could be vulnerable to a post-Fed selloff. Investors are either taking profits before year-end or adjusting their positions ahead of the big event tomorrow. The Fed is widely expected to increase its benchmark but the focus will be on the overall monetary policy path following a first hike. The British Pound, however, was forced to test its 1.5110-support before it followed the current upward trend.

Today’s focus will be on Consumer Price Reports from the U.S.and U.K. As recently noticed, the market only shows a strong reaction when reports are falling short of expectations. We will therefore be looking for any surprises in CPI figures. Moreover, the German and Eurozone ZEW Survey is scheduled for release at 10:00 GMT.

9:30 UK CPI

10:00 EUR German & Eurozone ZEW Index

13:30 USA CPI

Here is where we see short-term resistances and supports:

  Resistances Supports
EUR/USD 1.1040

1.1060

1.11

 

 1.0965

1.0935

1.09

 
  Resistances Supports
GBP/USD 1.5187

1.52

1.5260

 1.5110

1.5075

1.5045

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We wish you good trades and many pips!

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