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 December is predicted at 48.4. Forex traders can compare this to the Italian Markit/ADACI Manufacturing PMI for November which was reported at 48.6.
- French Markit Manufacturing PMI: The Final French Markit Manufacturing PMI for December is predicted at 49.7. Forex traders can compare this to the previous French Markit Manufacturing PMI for December which was reported at 49.7.
- German Markit/BME Manufacturing PMI: The Final German Markit/BME Manufacturing PMI for December is predicted at 51.5. Forex traders can compare this to the previous German Markit/BME Manufacturing PMI for December which was reported at 51.5.
- Eurozone Markit Manufacturing PMI: The Final Eurozone Markit Manufacturing PMI PMI for December is predicted at 51.4. Forex traders can compare this to the previous Eurozone Markit Manufacturing PMI for December which was reported at 51.4.
Here are the key factors to keep in mind today for Australian Dollar trades:
- Australian CBA Manufacturing PMI: The Final Australian CBA Manufacturing PMI for December was reported at 54.0. Forex traders can compare this to the previous Australian CBA Manufacturing PMI for December which was reported at 53.7.
- Australian CoreLogic House Prices: Australian CoreLogic House Prices for December decreased by 1.3% monthly. Forex traders can compare this to Australian CoreLogic House Prices for November which decreased by 0.9% monthly.
- Chinese Caixin Manufacturing PMI: The Chinese Caixin Manufacturing PMI for December was reported at 49.7. Economists predicted a figure of 50.0. Forex traders can compare this to the Chinese Caixin Manufacturing PMI for November which was reported at 50.2.
Should price action for the EURAUD remain inside the or breakdown below the 1.6270 to 1.6355 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.6325
- Take Profit Zone: 1.5740 – 1.5885
- Stop Loss Level: 1.6250
Should price action for the EURAUD breakout above 1.6355 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.6385
- Take Profit Zone: 1.6500 – 1.6560
- Stop Loss Level: 1.6325
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
