Here are the key factors to keep in mind today for Euro trades:
- German Industrial Production: German German Industrial Production for April is predicted to increase by 0.7% monthly and by 1.0% annualized. Forex traders can compare this to German Industrial Production for March which decreased by 1.3% monthly and increased by 0.3% annualized.
- Final Eurozone GDP: The Final Eurozone GDP for the first-quarter is expected to increase by 0.5% quarterly and by 1.5% annualized. Forex traders can compare this to the original Eurozone GDP for the first-quarter which increased by 0.5% quarterly and by 1.5% annualized. Final Eurozone Gross Fixed Capital is expected to increase by 1.1% . Forex traders can compare this to the previous Eurozone Gross Fixed Capital which increased by 1.3%. Final Eurozone Government Expenditure expected to increase by 0.4% . Forex traders can compare this to the previous Eurozone Government Expenditure which increased by 0.6%. Final Eurozone Household Consumption is expected to increase by 05% . Forex traders can compare this to the previous Eurozone Household Consumption which increased by 0.2%.
Here are the key factors to keep in mind today for Australian Dollar trades:
- Australian AiG Performance of Construction Index: The Australian AiG Performance of Construction Index for May was reported at 46.7. Forex traders can compare this to the Australian AiG Performance of Services Index for April which was reported at 50.8.
- Australian ANZ Roy Morgan Weekly Consumer Confidence Index: The Australian ANZ Roy Morgan Weekly Consumer Confidence Index for the week of June 5th was reported at 116.8. Forex traders can compare this to the Australian ANZ Roy Morgan Weekly Consumer Confidence Index for the week of May 29th which was reported at 113.2.
- Australian RBA Interest Rate Decision: The Australian RBA Interest Rate Decision is predicted to keep interest rates at 1.75%. Forex traders can compare this to the previous Australian RBA Interest Rate Decision where interest rates were left unchanged at 1.75%.
Should price action for the EURAUD remain inside the or breakout above the 1.5250 to 1.5300 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.5275
- Take Profit Zone: 1.5625 – 1.5675
- Stop Loss Level: 1.5200
Should price action for the EURAUD breakdown below 1.5200 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.5175
- Take Profit Zone: 1.5000 – 1.5050
- Stop Loss Level: 1.5250
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
