Here are the key factors to keep in mind today for Euro trades:
- German CPI: The Final German CPI for July is predicted to increase by 0.3% monthly and by 0.4% annualized. Forex traders can compare this to the first German CPI for July which increased by 0.3% monthly and by 0.4% annualized.
- German GDP: The preliminary German GDP for the second-quarter is predicted to increase by 0.2% quarterly and by 1.4% annualized. Forex traders can compare this to the previous German GDP for the second-quarter which increased by 0.7% quarterly and by 1.6% annualized.
- Italian GDP: The preliminary Italian GDP for the second-quarter is predicted to increase by 0.2% quarterly and by 0.8% annualized. Forex traders can compare this to the previous Italian GDP for the second-quarter which increased by 0.3% quarterly and by 1.0% annualized.
- Eurozone GDP: The preliminary Eurozone GDP for the second-quarter is predicted to increase by 0.3% quarterly and by 1.6% annualized. Forex traders can compare this to the previous Eurozone GDP for the second-quarter which increased by 0.3% quarterly and by 1.6% annualized.
Here are the key factors to keep in mind today for US Dollar trades:
- US Advanced Retail Sales: US Advanced Retail Sales for July are predicted to increase by 0.4% monthly and Retail Sales Less Autos are predicted to increase by 0.2% monthly. Forex traders can compare this to US Advanced Retail Sales for June which increased by 0.6% monthly and to Retail Sales Less Autos which increased by 0.7% monthly. Retail Sales Less Autos and Gas for July are predicted to increase by 0.4% monthly and Retail Sales Control Group are predicted to increase by 0.3% monthly. Forex traders can compare this to Retail Sales Less Autos and Gas for June which increased by 0.7% monthly and to Retail Sales Control Group which increased by 0.5% monthly.
- US PPI: The US PPI for July is predicted to increase by 0.1% monthly and by 0.3% annualized. Forex traders can compare this to the US PPI for June which increased by 0.5% monthly and by 0.3% annualized. The US Core PPI for July is predicted to increase by 0.2% monthly and by 1.2% annualized. Forex traders can compare this to the US Core PPI for June which increased by 0.4% monthly and by 1.3% annualized.
- US Business Inventories: US Business Inventories for June are predicted to increase by 0.1% monthly. Forex traders can compare this to US Business Inventories for May which increased by 0.2% monthly.
- US Michigan Consumer Confidence: US Michigan Consumer Confidence for August is predicted at 91.5. Forex traders can compare this to US Michigan Consumer Confidence for July which was reported at 90.0.
Should price action for the EURUSD remain inside the or breakout above the 1.1115 to 1.1170 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.1150
- Take Profit Zone: 1.1470 – 1.1530
- Stop Loss Level: 1.1075
Should price action for the EURUSD breakdown below 1.1115 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.1100
- Take Profit Zone: 1.1000 – 1.1075
- Stop Loss Level: 1.1150
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
