Here are the key factors to keep in mind today for Euro trades:
- German Factory Orders: German Factory Orders for December increased by 5.2% monthly and by 8.1% annualized. Economists predicted an increase of 0.7% monthly and of 4.2% annualized. Forex traders can compare this to German Factory Orders for November which decreased by 3.6% monthly and which increased by 2.0% annualized.
- German Markit Construction PMI: The German Markit Construction PMI for January was reported at 52.0. Forex traders can compare this to the German Markit Construction PMI for December which was reported at 54.9.
- Eurozone Markit Retail PMI: The Eurozone Markit Retail PMI for January was reported at 50.1. Forex traders can compare this to the Eurozone Markit Retail PMI for December which was reported at 50.4. The German Markit Retail PMI for January was reported at 50.3. Forex traders can compare this to the German Markit Retail PMI for December which was reported at 52.0. The French Markit Retail PMI for January was reported at 53.1. Forex traders can compare this to the French Markit Retail PMI for December which was reported at 50.4. The Italian Markit Retail PMI for January was reported at 45.6. Forex traders can compare this to the Italian Markit Retail PMI for December which was reported at 47.9.
- Eurozone Sentix Investor Confidence: The Eurozone Sentix Investor Confidence for February was reported at 17.4. Economists predicted a figure of 16.8. Forex traders can compare this to the Eurozone Sentix Investor Confidence for January which was reported at 18.2.
Here are the key factors to keep in mind today for Australian Dollar trades:
- Australian TD Securities Inflation: Australian TD Securities Inflation for January increased by 0.6% monthly and by 2.1% annualized. Forex traders can compare this to Australian TD Securities Inflation for December which increased by 0.5% monthly and by 1.8% annualized.
- Australian Retail Sales: Australian Retail Sales for December decreased by 0.1% monthly. Economists predicted an increase of 0.3% monthly. Forex traders can compare this to Australian Retail Sales for November which increased by 0.1% monthly. Australian Retail Sales excluding Inflation for the fourth-quarter increased by 0.9% quarterly. Economists predicted an increase of 0.9% quarterly. Forex traders can compare this to Australian Retail Sales excluding Inflation for the third-quarter which decreased by 0.1% quarterly.
- Australian ANZ Job Advertisements: Australian ANZ Job Advertisements for January increased by 4.0% monthly. Forex traders can compare this to Australian ANZ Job Advertisements for December which decreased by 2.2% monthly.
Should price action for the EURAUD remain inside the or breakout above the 1.4000 to 1.4050 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.4025
- Take Profit Zone: 1.4650 – 1.4700
- Stop Loss Level: 1.3800
Should price action for the EURAUD breakdown below 1.4000 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.3975
- Take Profit Zone: 1.3550 – 1.3600
- Stop Loss Level: 1.4050
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
