Here are the key factors to keep in mind today for Euro trades:
- German Retail Sales: German Retail Sales for February increased by 0.7% monthly and by 1.3% annualized. Economists predicted an increase of 0.7% monthly and of 2.4% annualized. Forex traders can compare this to German Retail Sales for January which decreased by 0.8% monthly and which increased by 2.3% annualized.
- Italian Markit/ADACI Manufacturing PMI: The Italian Markit/ADACI Manufacturing PMI for March was reported at 55.1. Economists predicted a figure of 55.5. Forex traders can compare this to the Italian Markit/ADACI Manufacturing PMI for February which was reported at 56.8.
- French Markit Manufacturing PMI: The Final French Markit Manufacturing PMI for March was reported at 53.7. Economists predicted a figure of 53.6. Forex traders can compare this to the previous French Markit Manufacturing PMI for March which was reported at 53.6.
- German Markit/BME Manufacturing PMI: The Final German Markit/BME Manufacturing PMI for March was reported at 58.2. Economists predicted a figure of 58.4. Forex traders can compare this to the previous German Markit/BME Manufacturing PMI for March which was reported at 58.4.
- Eurozone Markit Manufacturing PMI: The Final Eurozone Markit Manufacturing PMI PMI for March was reported at 56.6. Economists predicted a figure of 56.6. Forex traders can compare this to the previous Eurozone Markit Manufacturing PMI for March which was reported at 56.6.
Here are the key factors to keep in mind today for Australian Dollar trades:
- Australian AiG Performance of Manufacturing Index: The Australian AiG Performance of Manufacturing Index for March was reported at 63.1. Forex traders can compare this to the Australian AiG Performance of Manufacturing Index for February which was reported at 57.5.
- Australian CBA Manufacturing PMI: The Australian Manufacturing PMI for March was reported at 54.3. Forex traders can compare this to the Australian CBA Manufacturing PMI for February which was reported at 55.6.
- Australian CoreLogic House Prices: Australian CoreLogic House Prices for March decreased by 0.2% monthly. Forex traders can compare this to Australian CoreLogic House Prices for February which decreased by 0.3%.
- Australian ANZ Job Advertisements: Australian ANZ Job Advertisements for March were reported flat at 0.0% monthly. Forex traders can compare this to Australian ANZ Job Advertisements for February which decreased by 0.4% monthly.
- Australian RBA Interest Rate Decision: The Australian RBA kept interest rates at 1.50%. Economists predicted interest rates at 1.50%. Forex traders can compare this to the previous Australian RBA Interest Rate Decision where interest rates were left unchanged at 1.50%.
- Australian RBA Commodity Index: The Australian RBA Commodity Index for March decreased by 2.1% annualized. Forex traders can compare this to the Australian RBA Commodity Index for February which decreased by 1.0% annualized.
Should price action for the EURAUD remain inside the or breakdown below the 1.6000 to 1.6065 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.6020
- Take Profit Zone: 1.5620 – 1.5685
- Stop Loss Level: 1.6115
Should price action for the EURAUD breakout above 1.6065 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.6085
- Take Profit Zone: 1.6160 – 1.6190
- Stop Loss Level: 1.6020
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