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EUR/USD Drops Below 1.14 – Further Lows in Sight?

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The U.S. dollar strengthened Monday on speculation the Federal Reserve may have to speed up policy tightening to fight price pressures. The euro fell victim to the greenback’s strength and broke below 1.14. The focus will now be on U.S. retail sales scheduled for release today at 13:30 UTC.

EUR/USD- technical picture

The pair fell toward a low at 1.1350 and traders wonder whether lower targets at 1.12 could be in sight. If the euro is unable to stabilize above 1.1420 we might see another leg down but this will primarily hinge on the demand for USD.

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ETH/USD

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U.S. Dollar Pauses Rally, For Now

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Welcome to a new trading week.

What will be in focus this week? We have some Federal Reserve speak in the days ahead as well as the U.S. retail sales report on Tuesday. Retail Sales are poised to show an acceleration in October which could trigger a bullish reaction in the U.S. dollar.

EUR/USD – Further downward pressure?

The euro’s underperformance is set to continue as long as the European Central Bank lags behind the Fed in tapering asset purchases and hiking interest rates. An ECB rate hike next year is according to ECB President Christine Lagarde “very unlikely”, which is why the euro’s performance will depend on the dollar’s strength in the near-term. We continue to look at a potential trading range between 1.14 and 1.1540.

GBP/USD – Consolidation ahead?

After the cable has stopped its fall just two pips above 1.3350, we saw a small rebound with sterling trading back above 1.34. Currently we see short-term chances in favor of the bulls with a lower resistance coming in at 1.3480. In the case of a rise above 1.3510 we see a higher target at 1.3570 but we do not expect big movements in the days ahead. Consolidated moves between 1.35 and 1.33 are much more likely.

Try out our new signals for cryptocurrencies:

ETH/USD

Long @ 4715

Short @ 4635

We wish you good trades!

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DAX Hit Profit Target, Focus Now on USD And Retail Sales

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The DAX has reached our profit target at 15500 points. A rise above 15560 could see further gains toward 15800. Bears, however, should watch out for pullbacks if the index remains below 15550.

EUR/USD: Short-term head-shoulders-pattern could spur bearish momentum

A SHS-pattern seen in the hourly chart could attract sellers, provided that the euro falls below the neckline at 1.1580. A lower target will then come in at 1.1560-50. The pattern will become void with a break above 1.1625. Bulls will then focus on a test of 1.1640-50.

GBP/USD: We expect the pair to trade between 1.3750 and 1.36. We will pay attention to price breaks above 1.3760 or below 1.3570.

Traders will watch the U.S. Retail Sales report today due for release at 12:30 UTC.

Have a wonderful weekend.

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Price Breakouts In Preparation?

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Not much has changed in the price development of the EUR/USD and GBP/USD Wednesday.

While the pound traded slightly higher against the U.S. dollar on the back of higher U.K. inflation, the euro remained confined to a very small trading range between 1.1835 and 1.18.

Is it time for a breakout? Given the sluggish price development in recent days we keep tabs on potential price breakouts providing bigger moves and thus larger gains for traders. Today we will have U.S. retail sales scheduled for release at 12:30 UTC, a report that could have an impact on the greenback.

Let’s take a brief look at the technical picture:

EUR/USD

Above 1.1825 we expect the pair to test the 1.1830-40 area again. Euro bulls should watch out for a break above 1.1860 that could lead to a test of 1.1870-80. A bearish breakout, on the other side, could start with a dip below 1.1790. A lower target is seen at 1.1750-40.

GBP/USD

The cable holds above 1.38 and thus, chances are still in favor of a bullish move towards 1.39 and 1.40. For the bears to regain control, we must need to see a break below 1.3780.

DAX

We will watch out for rise above 15735 in order to anticipate more gains towards 15850. Below 15620, we expect the index to fall towards 15550 and possibly even 15400.

 

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EUR/USD And GBP/USD in Tight Ranges, Focus on U.S. Retail Sales

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The U.S. dollar ended yesterday’s trading day slightly higher against the euro and British pound while Federal Reserve Chair Jerome Powell repeated the central bank’s dovish stance that a decision to taper stimulus is still a ways off. Many market participants expect the Fed to start tapering in December or January. Powell said that policymakers will talk about the possibility of scaling back stimulus at their next gathering on July 27-28.

Market momentum has faded amid the summer doldrums, making it difficult for traders to profit from small fluctuations within narrow price ranges. We continue to recommend a low-risk approach when trading in low volatile markets or staying on the sidelines.

EUR/USD: We expect the pair to remain within a trading range between 1.1880 and 1.1750. Breaking below 1.1740 could see accelerated bearish momentum towards 1.17. Euro bulls on the other side, should pay attention to a break above 1.19 with a higher target at 1.20.

GBP/USD: The cable traded sideways between 1.39 and 1.38. Above 1.3910 we see a next hurdle at 1.3940 followed by 1.3990. Below 1.3770 we will favor the downtrend with a lower target at 1.3650.

Traders will watch the U.S. retail sales report scheduled for release today at 12:30 UTC that could have an impact on dollar crosses.

Have a good weekend.

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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U.S. Dollar Remains Unmoved Ahead of The FOMC Meeting

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The U.S. dollar ended the trading day virtually unchanged against the British pound after the support around 1.4070 has proved to hold – at least for now.

Trading was also relatively quiet in the EUR/USD with the pair fluctuating within a narrow 40-pips-range between 1.2130 and 1.2095. The performance of this pair will now mainly hinge on the demand for U.S. dollars.

DAX: The index tested the 15800-mark while our long entry proved profitable. We now see a next hurdle at 15850 which needs to be broken before the focus shifts towards higher targets. On the downside, we see a current support at around 15500.

Today at 12:30 UTC we will keep an eye on the U.S. Retail Sales report which could impact the greenback ahead of tomorrow’s FOMC decision.

Daily Forex Signals:

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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No Love For The U.S. Dollar

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U.S. retail sales increased by 9.8 percent in March, which was the second-largest increase in government data back to 1992. The huge monthly sales number can be attributed to federal stimulus payments that provided a temporary spending boost. The consumer spending boom could continue in the months ahead with consumers still sitting on a pile of accumulated savings as the economy continues to reopen.

The U.S. dollar failed to strengthen on the back of strong retail sales as Treasury yields fell.

We bear in mind, that we are still in a risk-on environment where expectations of a strong recovery are pushing equities to record levels while risky assets benefit. The anti-risk U.S. dollar, on the other hand, is not in demand in such environment.

EUR/USD – Finally due for a correction?

The euro knew only one direction in April – upwards. Now that the pair has reached a crucial resistance zone and refrained from a break above 1.20 amid its overbought situation, we expect the price to decline towards 1.19. For the uptrend to continue towards a higher resistance at 1.21, we would need to see a sustained break above 1.2020.

GBP/USD: The cable was little changed and remained below 1.38 in low volatile trading. We expect the pair to trade between 1.3850 and 1.36. As for bearish momentum, if the pound drops below 1.3720 we anticipate further losses towards 1.3670 and 1.36.

Have a nice weekend everyone!

We wish you good trades!

Any and all liability of the author is excluded.

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Volatility To Pick Up With U.S. Retail Sales?

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While both EUR/USD and GBP/USD, as well as the DAX ended yesterday’s trading day virtually unchanged, traders in the DAX had to struggle with choppy sideways fluctuations. Later in the day we saw the DAX testing a lower support at around 14400 before rebounding towards 14500. From a technical perspective, we still see a short-term support at around 14450 and if the index fails to hold above that level, lower targets are seen at 14310 and 14200.

EUR/USD: The pair remained confined to a very small trading range between 1.1940 and 1.1910.

GBP/USD: The cable marked a short-term resistance at 1.3950 before falling back below 1.39. Earlier this morning we saw the pair testing the support area at around 1.3850 and now after the pair dropped below 1.3840, we will focus on a lower target at 1.3780.

Volatility could pick up today, so we might get some profitable trading chances.

Traders will also watch U.S. Retail Sales today at 12:30 UTC which could have an impact on USD crosses.

We wish you good trades!

Any and all liability of the author is excluded.

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Focus On U.K. Job Report, U.S. Retail Sales

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Dear Traders,

Despite the upswing in the euro and British pound, Monday proved to be a fairly quiet trading day with any larger market moves lacking. While the upside potential in the EUR/USD was limited to a high of 1.1996, none of our daily signal entries was triggered in the GBP/USD. With the crucial 1.20-barrier remaining a hart nut to crack for euro bulls, the focus shifts back to the euro’s down trend and the next support around 1.19. If the single currency drops below 1.1880 we may see a continuation of the euro’s down move.

Revisions to the Eurozone GDP Q1 figures are scheduled for release along with the ZEW Surveys today at 9:00 UTC but both reports might take a backseat to the final April CPI release on Wednesday.

The British pound refrained from a sustained climb above 1.36 and fell back towards 1.3550.

On the data front, we have the U.K. jobs figures scheduled for release at 8:30 UTC and these numbers have the potential to spark volatility in the pound, provided that the report surprises. Sterling traders should thus keep an eye on the job numbers this morning. Technically speaking, the GBP/USD still finds itself within a trading range between roughly 1.36 and 1.35. Looking for sustained breakouts, we will keep tabs on prices either above 1.3650 or below 1.3440.

From the U.S. we have Advance Retail Sales scheduled for release at 12:30 UTC, a report that could have a short-term impact on the price action in the dollar.

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View our daily signal alerts https://www.maimar.co/category/daily-signals/

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We wish you good trades and many pips!

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USD Falls On White House Instability, EUR And GBP Trend Upwards

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Dear Traders,

The pound was yesterday’s best performer while GBP/USD broke above a descending trend line that is held in the cable since January. As mentioned in previous analysis, we now take a rather bullish stance in this pair but recommend long-term oriented traders waiting for a bullish break of the 1.40-barrier.

The U.K.’s Spring Budget statement has helped the pound to regain some strength as growth forecasts were upgraded.

U.S. CPI data, on the other side, was not strong enough to alter Fed rate hike expectations and thus, the dollar weakened against other major peers. The next FOMC meeting is on March 21 but with inflation holding steady, market participants are bracing for a dovish rate hike next week.

Meanwhile, the dollar came under increased pressure as White House instability continues. U.S. President Trump fired Secretary of State Rex Tillerson and this sudden staff turnover comes only one week after Gary Cohn resigned from the White House. Trump administration concerns generally pose a threat to the greenback.

GBP/USD: The pound broke out of its triangle formation and headed towards 1.40. We now wait for a sustained break above that psychological barrier in order to anticipate further gains towards 1.4070 and 1.4150. A lower support is seen around the 1.3830-level.

EUR/USD: The euro traded with a tailwind on the back of a weakening dollar while breaking above 1.2370. As expected in Monday’s analysis, that upside break encouraged bulls to drive the euro toward a test of 1.24 and it will be interesting whether the single currency is able to stabilize above that level.

Today we will listen to ECB President Draghi’s speech at 8:00 UTC and keep an eye on the U.S. Retail Sales Report scheduled for release at 12:30 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 2018 Maimar-FX.

www.maimar.co