Here are the key factors to keep in mind today for Euro trades:
- Eurozone M3 Money Supply: Eurozone M3 Money Supply for November increased by 4.9% annualized. Economists predicted an increase of 4.9%. Forex traders can compare this to Eurozone M3 Money Supply for October which increased by 5.0% annualized.
- Preliminary German CPI: The Preliminary German CPI for December is predicted to increase by 0.5% monthly and by 1.5% annualized. Forex traders can compare this to the German CPI for November which increased by 0.3% monthly and by 1.8% annualized.
Here is the key factor to keep in mind today for Australian Dollar trades:
- Australian Private Sector Credit: Australian Private Sector Credit for November increased by 0.5% monthly and by 5.4% annualized. Economists predicted an increase of 0.4% monthly and of 5.2% annualized. Forex traders can compare this to Australian Private Sector Credit for October which increased by 0.4% monthly and by 5.3% annualized.
Should price action for the EURAUD remain inside the or breakout above the 1.5300 to 1.5360 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.5330
- Take Profit Zone: 1.5695 – 1.5770
- Stop Loss Level: 1.5180
Should price action for the EURAUD breakdown below 1.5300 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.5270
- Take Profit Zone: 1.4950 – 1.5035
- Stop Loss Level: 1.5330
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
