Here are the key factors to keep in mind today for Euro trades:
- Eurozone Sentix Investor Confidence: Eurozone Sentix Investor Confidence for March is predicted at -3.1. Forex traders can compare this to Eurozone Sentix Investor Confidence for February which was reported at -3.7.
- Eurozone PPI: The Eurozone PPI for January is predicted to increase by 0.3% monthly and by 2.9% annualized. Forex traders can compare this to the Eurozone PPI for December which decreased by 0.8% monthly and which increased by 3.0% annualized.
Here is the key factor to keep in mind today for Australian Dollar trades:
- Australian ANZ Job Advertisements: Australian ANZ Job Advertisements for February decreased by 0.9% monthly. Forex traders can compare this to Australian ANZ Job Advertisements for January which decreased by 1.8% monthly.
- Australian TD Securities Inflation: Australian TD Securities Inflation for February increased by 0.1% monthly and by 1.7% annualized. Forex traders can compare this to Australian TD Securities Inflation for January which decreased by 0.1% monthly and which increased by 1.5% annualized.
- Australian Inventories and Company Operating Profits: Australian Inventories for the fourth-quarter decreased by 0.2% quarterly and Australian Company Operating Profits increased by 0.8% quarterly. Economists predicted an increase of 0.3% and of 3.0%. Forex traders can compare this to Australian Inventories for the third-quarter which decreased by 0.1% quarterly and to Australian Company Operating Profits which increased by 1.2% quarterly.
- Australian Building Approvals: Australian Building Approvals for January increased by 2.5% monthly and decreased by 28.6% annualized. Economists predicted an increase of 1.5% monthly and a decrease of 28.9% annualized. Forex traders can compare this to Australian Building Approvals for December which decreased by 8.1% monthly and by 22.0% annualized.
Should price action for the EURAUD remain inside the or breakdown below the 1.5980 to 1.6070 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.6040
- Take Profit Zone: 1.5520 – 1.5670
- Stop Loss Level: 1.6150
Should price action for the EURAUD breakout above 1.6070 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.6100
- Take Profit Zone: 1.6270 – 1.6340
- Stop Loss Level: 1.6040
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
