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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.

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/

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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

 

 

GBP/USD: Prepare For Reversals

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Dear Traders,

U.S. President Donald Trump accused China and Russia of devaluing their currencies with the consequence that investors refrained from buying dollars amid concerns about the U.S. policy. The dollar further weakened against the euro and pound.

The British pound was the best performing currency on Monday and rose to a high of 1.4344. While buyers in the GBP/USD were recently able to gain a good profit by the cable’s upward move, we now prepare for pullbacks that could send the pound back towards a test of the 1.4250/70-support. Bear in mind that the pair is in overbought territory, a situation that makes upcoming corrections more likely.

Today we will watch the U.K. employment report at 8:30 UTC which could have an impact on the pound.

The EUR/USD was accompanied by an upward tilt but the euro still refrained from taking out the 1.24-barrier. As mentioned in yesterday’s analysis, we expect a higher resistance-zone to come in at 1.2430-50 but for now, a break above 1.24 must be done first. If the euro, however, formats a double-top below 1.24, bearish momentum may gather steam, driving the euro back towards 1.2350 and possibly even 1.23.

The German and Eurozone ZEW Surveys are scheduled for release at 9:00 UTC, but the impact on the euro could be short-lived.

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/

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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

British Pound: Further Gains Or Bearish Pullback Ahead?

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Dear Traders,

The biggest story in the markets on Monday was the bullish breakout of the British pound, which soared to a high of 1.4088 after it broke above the psychological level of 1.40. The bullish breakout was triggered shortly after the announcement of an agreement on a transition plan for the period after Brexit. The big question among traders is now whether there could be further gains in the pound.

Today, we have U.K. Inflation numbers due for release at 9:30 UTC and the expectation is for a 2.8 percent read from previously 3 percent. A weaker reading could be an excuse for sterling bulls to take profit on long positions. In a nutshell, there is a risk of a bearish pullback if inflation disappoints.

GBP/USD: If the pound drops below the 1.40-barrier it may extend its slide towards 1.3950. On the topside, if the pound climbs back above 1.4050 it could extend its gains towards 1.41.

The euro was able to stabilize above 1.23 and appears to be heading towards 1.2370 now. For euro bulls it will be interesting whether the euro could also overcome the 1.24-hurdle in the near-term.

From the Eurozone we have the ZEW Survey scheduled for release at 10:00 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

Will U.K. CPI Data Push The Pound Above 1.27?

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Dear Traders,

The U.S. dollar weakened against most major currencies on Monday. Ahead of Wednesday’s Federal Reserve statement investors are concerned that US-policymakers were to flag the risk of a strengthening dollar on the U.S. economy, suggesting that the dollar rally has gone too far. Most of the dollar gains have come about as a result of expectations that Trump will enact policies that increase spending as well as spur growth and inflation. It remains to be seen how the political program will look like during Trump’s term as president while the details of an eventual fiscal-spending program are still written in the stars.

The euro tested the 1.0650-level and our yesterday’s long-entry has proved successful. We will now wait for the euro to overcome the 1.0665-barrier in order to focus at higher targets at 1.0710 and 08. On the bottom side, the 1.0470-support remains intact. Euro traders should keep an eye on the ZEW Survey, due for release at 10:00 UTC. The euro might tend to strengthen ahead of that report.

Particular attention will be paid to the British pound and the U.K. Consumer Price report scheduled for release at 9:30 UTC. CPI data is expected to show an uptick in November which is why the pound may appreciate against the greenback ahead of that report. We will focus on an upside break above 1.27, which could drive the pound towards higher targets at 1.2770 and perhaps even 1.2870. A current support is however seen at 1.2530.

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/

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We wish you good trades and many pips!

Any and all liability of the author is excluded.

Copyright © All Rights Reserved 2016 Maimar-FX.

www.maimar.co

 

 

U.S. Dollar Gains Momentum But Watch Out For Potential Corrections

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Dear Traders,

Despite the lack of market moving economic data on Monday the U.S. dollar continued to strengthen against the euro and British pound. Short traders, therefore, continue to profit but we should remain vigilant as to potential corrections in both major currency pairs.

EUR/USD

The euro trades under pressure and is currently hovering around the 1.11-mark. Short-traders are already preparing for a break of that crucial support level. Below 1.1090 we see next support levels at 1.1050 and 1.10 while on the upside, potential pullbacks could be limited until 1.12. Only a break above 1.1250 would change the bias in favor of the bulls.

chart_eur_usd_daily_snapshot11-10-16

The Eurozone ZEW Survey is scheduled for release at 9:00 UTC today but whether this report will have a significant impact on the euro remains to be seen.

The pound sterling tested its new support at 1.23. A renewed break below that level may send the pound tumbling towards 1.22 whereas any pullbacks might be currently limited until 1.2350/70. Above 1.24 however, we anticipate that the market will gain some bullish momentum towards 1.25.

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 2016 Maimar-FX.

www.maimar.co

 

 

 

Listless Price Development On Growing Risk-Aversion

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Dear Traders,

The current market environment leaves much to be desired and given the listless price development it remains difficult for traders to take advantage of the muted market conditions. Even though the market should be repricing the prospects for higher interest rates in the USA, investors became far more risk-averse and showed reluctance to invest. So we will have to wait for an increase in risk appetite among investors in order to benefit from larger market movements and new trends.

Market participants await U.S. data on housing today for clues on the health of the economy. In the meantime, Fed policy makers continue to reinforce the likelihood of imminent rate increases with Fed President Bullard saying that he doesn’t see the U.K.’s vote on EU membership influencing the FOMC meeting that will be held the week before the referendum. Traders are currently pricing in a 30 percent chance of a rate hike in June and a 48 percent chance for a July hike. The focus could thus be on strong economic data, such as U.S. New Home Sales, scheduled for release at 14:00 UTC.If data fails to impress the dollar could weaken.

Before the U.S. data, U.K. Public Finances (8:30 UTC) and the German ZEW Survey (9:00 UTC) are scheduled for release.

Technically, the EUR/USD remains confined to a narrow trading range between 1.1250 and 1.1180. Let’s wait and see whether momentum accelerates after a break above or below this range.

The British pound ended the day unchanged against the U.S. dollar. We see a current resistance at 1.45 whereas a lower bound could currently be at 1.44.

Daily Forex signals:

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 2016 Maimar-FX.

www.maimar.co