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ECB 2022 Rate Hike Off The Table?

The anti-risk U.S. dollar weakened while we saw rebounds across the board Wednesday. The sentiment was lifted yesterday following a report that Ukraine is open to discussing Russia’s demand of neutrality as long as it’s given security guarantees. Volatility is however not over and the outcome of the war in Ukraine is still a big unknown.

Today traders will turn their eyes to the European Central Bank decision and ECB press conference at 12:30 UTC. At the same time, we will have U.S. inflation data due for release.

What to expect from the ECB?

While the ECB was already attempting to suppress the market’s rate hike speculation in 2022 before the threat to economic growth from Russia’s invasion began to rise, the new situation will possibly only harden their position. With the implications of the war in Ukraine still uncertain, it will be too early to send a hawkish message this month. While even higher inflationary pressure pushes policy makers toward policy normalization, the duration of the war could delay the exit from the ECB’s expansionary monetary policy.

In short, with chances of a 2022 rate hike tending towards zero, further gains in the EUR/USD pair might be limited.

EUR/USD – Strong rebound

Following yesterday’s incredible ‘risk on’ day with the euro’s rise towards 1.11, we may see some bullish extension until approximately 1.1170 before selling pressure accelerates again. Bears will watch out for a fresh decline below 1.0940 in order to sell euros towards 1.07.

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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Short Durability Of Buy-The-Dip Rebound?

Europe entered one of its worst security crises since World War II.

Following yesterday’s rapid Market sell-off we saw a buy-the-dip rebound but the question is now whether the rebound is durable. This may be difficult however, since the conflict muddied the outlook for markets and the global economic recovery. Traders should expect further losses in risk assets while the U.S. dollar benefits as a safe haven.

EUR/USD: Below 1.1090, we expect further losses towards 1.09. Short-term resistance is seen at 1.1320.

GBP/USD: Below 1.32, we expect further losses towards 1.30. Short-term resistance is seen at 1.36.

DAX: As long as the index remains below 14800, we anticipate further losses towards 13500 and 13000.

 

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.

Any and all liability of the author is excluded.

Copyright © All Rights Reserved 2022 MaiMarFX.

www.maimar.co

Follow us on social media:

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Profitable Week So Far

Investors have moved to less-defensive positions amid signs of a Ukraine de-escalation. Russia’s apparent pullback led to some relief in the market and risk appetite drove the U.S. dollar lower and risk assets higher. We were able to book some good profits with our buy position in the EUR/USD, our sell position in the GBP/USD and last but not least our buy position in the DAX that surged by more than 3 percent from our entry level.

Today, the FOMC minutes at 19:00 UTC will be closely watched. If the minutes are perceived as hawkish, the dollar could soar against other counterparts.

Daily Forex Signals:

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Try out our new signals for cryptocurrencies:

ETH/USD

Long @ 3160

Short @ 3090

 

We wish you good trades!

Any and all liability of the author is excluded.

Copyright © All Rights Reserved 2022 MaiMarFX.

www.maimar.co

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ECB Interest Rate decision & Crimea Crisis

Dear Traders,

we hope you had a good start in March 2014. Yesterdays’ trading was formative by short trends which is due to the current Ukraine Crisis.

On Thursday market strategists will listen to the ECB rate decision, where most economists expect that the ECB won’t lower its current interest rate this week. This expectation is probably priced into lately up trends.

Furthermore there are various important news release on tap this week:

  • Wednesday – Services PMI – GBP, ADP Nonfarm Employment change & ISM Non-Manufacturing PMI –USD
  • Thursday- Interest Rate decision GBP & EUR
  • Friday – Nonfarm Payrolls and Unemployment rate USD

So, this will be an interesting first week of March.

These are the current resistances and supports of EUR/USD and GBP/USD:

EUR/USD

Resistance @ 1.3800/10

Support @ 1.3700/ 1.3655/ 1.3600

GBP/USD

Resistance @ 1.6720/60

Support @  1.6630 and 1.6490

If you wish to obtain daily entries with “stop loss” and “profit targets” feel free to subscribe to our free signals test period.

We wish you good trades and many pips!