Turn-Around Tuesday

Turnaround Tuesday Around The Corner?

January 25, 2022/in General News & Updates /by MaimarFX

This volatile week started on a very profitable note. We booked an 80-points gain with the DAX’s slide and a 40-pips gain with the fall in the GBP/USD. We will secure some of these profits.

We know that following strong movements on a Monday we often see counter movements on a Tuesday – the so-called ‘Turnaround Tuesday’. So, what could we see today after yesterday’s bearish slide? Traders know the answer ;)

GBP/USD – Due for a correction amid a potential Turnaround Tuesday?

We bear in mind that the pair remains oversold which would justify a correction. However, the support area ranges from 1.3440 to 1.3370, so bears might push sterling a little lower before more bulls jump in.

DAX – Breaking all but one support

The index dropped like a stone and broke below 15300 and further below 15000. The fall stopped however shortly before the 14800-support which is also an ascending trendline of the DAX’s primary uptrend. If 14800 breaks, the next lower target will be 14400 followed by 14000. For the bullish trend to strengthen we will need to see a price stabilization above 15800.

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Will Turn-Around Tuesday Live Up To Its Name Following Bullish Breakouts?

March 27, 2018/in General News & Updates /by MaimarFX

Dear Traders,

It has been a profitable trading day for both euro and sterling bulls. The euro rose to a five-week high against the dollar and we were thus able to book a good profit by trading our long signal yesterday.

Trading the bullish breakout in the GBP/USD went also very well and the big question among traders is now whether there will be further gains. While momentum is still undeniably bullish, the pound is at overbought levels in larger time frames and traders should therefore prepare for pullbacks in short-term time frames. As long as the pound remains above 1.42 we favor a bullish stance, targeting at higher levels at 1.43 and 1.4350. If the pound falls below 1.4190 we expect it to extend its slide towards 1.4150 and 1.41.

The same is true for the EUR/USD: The euro remains in overbought territory and traders should therefore anticipate upcoming corrections. If the euro remains trading between 1.2490 and 1.24 a short-term uptrend channel remains intact. If the euro, however, drops back below 1.2350, the bias shifts from bullish to neutral.

Moreover, traders should bear in mind that today is Tuesday and while this is a normal weekday the so-called ‘Turnaround Tuesday’ often lived up to its name after significant price breakouts on Monday. In a nutshell, watch out for potential reversals today.

The only piece of economic data will be U.S. Consumer Confidence due at 14:00 UTC.

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We wish you good trades and many pips!

Any and all liability of the author is excluded.

www.maimar.co

Greenback Continues Recovery But Today It’s Turn-Around Tuesday

February 6, 2018/in General News & Updates /by MaimarFX

Dear Traders,

The U.S. dollar continued its recovery against all major currency pairs and thus, pairs like EUR/USD and GBP/USD trended lower at the start of this week. While short traders were able to book a profit yesterday we recommend a cautious approach when expecting further bearish momentum. On so-called ‘turn-around Tuesdays’ there is a risk that we may see some pullback following Monday’s decline.

GBP/USD: The cable broke below the psychological level of 1.40 and, as mentioned in our yesterday’s analysis, chances could be in favor of the bears now. A next lower target could be around the 1.39-barrier and if 1.39 breaks, the pound may drift lower towards 1.3830/00.

For bullish momentum to accelerate, the pound would need to climb back above 1.4030.

As for the EUR/USD, we still see the pair trading within its recent sideways trading range while remaining above 1.2335. As long as 1.23 holds, we anticipate pullbacks towards 1.2430/40. Higher resistances are seen at 1.2480 and 1.2540. If the euro, however, falls below 1.2290, we expect further losses towards 1.22.

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.

www.maimar.co

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