Here are the key factors to keep in mind today for Euro trades:
- Italian Markit/ADACI Manufacturing PMI: The Italian Markit/ADACI Manufacturing PMI for January is predicted at 48.8. Forex traders can compare this to the Italian Markit/ADACI Manufacturing PMI for December which was reported at 49.2.
- French Markit Manufacturing PMI: The Final French Markit Manufacturing PMI for January is predicted at 51.2. Forex traders can compare this to the previous French Markit Manufacturing PMI for January which was reported at 51.2.
- German Markit/BME Manufacturing PMI: The Final German Markit/BME Manufacturing PMI for January is predicted at 49.9. Forex traders can compare this to the previous German Markit/BME Manufacturing PMI for January which was reported at 49.9.
- Eurozone Markit Manufacturing PMI: The Final Eurozone Markit Manufacturing PMI PMI for January is predicted at 50.5. Forex traders can compare this to the previous Eurozone Markit Manufacturing PMI for January which was reported at 50.5.
- Eurozone CPI and Eurozone Core CPI: The Eurozone CPI for January is predicted to increase by 1.4% annualized and the Eurozone Core CPI is predicted to increase by 1.0% annualized. Forex traders can compare this to the Eurozone CPI for December which increased by 1.6% annualized and to the Eurozone Core CPI which increased by 1.0% annualized.
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 January was reported at 53.9. Forex traders can compare this to the Australian AiG Performance of Manufacturing Index for December which was reported at 54.3.
- Australian CBA Manufacturing PMI: The Final Australian CBA Manufacturing PMI for January was reported at 53.9. Forex traders can compare this to the previous Australian CBA Manufacturing PMI for January which was reported at 54.3.
- Australian CoreLogic House Prices: Australian CoreLogic House Prices for January decreased by 1.2% monthly. Forex traders can compare this to Australian CoreLogic House Prices for December which decreased by 1.3% monthly.
- Australian PPI: The Australian PPI for the fourth-quarter of 2018 increased by 0.5% quarterly and by 2.0% annualized. Forex traders can compare this to the Australian PPI for the third-quarter of 2018 which increased by 0.8% quarterly and by 2.1% annualized.
- Chinese Caixin Manufacturing PMI: The Chinese Caixin Manufacturing PMI for January was reported at 48.3. Economists predicted a figure of 49.7. Forex traders can compare this to the Chinese Caixin Manufacturing PMI for December which was reported at 49.7.
- Australian RBA Commodity Index: The Australian RBA Commodity Index for January increased by 6.9% annualized. Forex traders can compare this to the Australian RBA Commodity Index for December which increased by 10.6% annualized.
Should price action for the EURAUD remain inside the or breakdown below the 1.5730 to 1.5855 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.5800
- Take Profit Zone: 1.5340 – 1.5520
- Stop Loss Level: 1.5930
Should price action for the EURAUD breakout above 1.5855 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.5880
- Take Profit Zone: 1.6085 – 1.6150
- Stop Loss Level: 1.5800
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
