Here are the key factors to keep in mind today for Euro trades:
- Eurozone Trade Balance: The Eurozone Trade Balance for February is predicted at €16.2B and the Seasonally Adjusted Eurozone Trade Balance at €18.5B. Forex traders can compare this to the Eurozone Trade Balance for January which was reported at -€0.6B and to the Seasonally Adjusted Eurozone Trade Balance which was reported at €15.7B.
- Eurozone CPI and Eurozone Core CPI: The Eurozone CPI for March is predicted to increase by 0.8% monthly and by 1.5% annualized and the Eurozone Core CPI is predicted to increase by 0.7% annualized. Forex traders can compare this to the Eurozone CPI for February which increased by 0.4% monthly and by 1.5% annualized and to the Eurozone Core CPI which increased by 0.7% annualized.
Here are the key factors to keep in mind today for Australian Dollar trades:
- Australian Westpac Leading Index: The Australian Westpac Leading Index for March increased by 0.08% monthly. Forex traders can compare this to the Australian Westpac Leading Index for February which decreased by 0.07%.
- Australian Motor Vehicle Sales: Australian Motor Vehicle Sales for March increased by 1.9% monthly and decreased by 3.0% annualized. Forex traders can compare this to Australian Motor Vehicle Sales for February which decreased by 2.7% monthly and by 4.0% annualized.
Should price action for the EURAUD remain inside the or breakout above the 1.4225 to 1.4275 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.4250
- Take Profit Zone: 1.4575 – 1.4625
- Stop Loss Level: 1.4025
Should price action for the EURAUD breakdown below 1.4225 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.4175
- Take Profit Zone: 1.3600 – 1.3650
- Stop Loss Level: 1.4275
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
