Here are the key factors to keep in mind today for Euro trades:
- German Factory Orders: German Factory Orders for March increased by 1.0% monthly and by 2.4% annualized. Economists predicted an increase of 0.7% monthly and of 2.1% annualized. Forex traders can compare this to German Factory Orders for February which increased by 3.5% monthly and by 4.7% annualized.
- Eurozone Sentix Investor Confidence: The Eurozone Sentix Investor Confidence for May is predicted at 25.2. Forex traders can compare this to the Eurozone Sentix Investor Confidence for April which was reported at 23.9.
Here are the key factors to keep in mind today for Australian Dollar trades:
- Australian Building Approvals: Australian Building Approvals for March decreased by 13.4% monthly and by 19.9% annualized. Economists predicted a decrease of 4.0% monthly and of 10.0% annualized. Forex traders can compare this to Australian Building Approvals for February which increased by 8.9% monthly and which decreased by 4.9% annualized.
- Australian ANZ Job Advertisements: Australian ANZ Job Advertisements for April increased by 1.4% monthly. Forex traders can compare this to Australian ANZ Job Advertisements for March which increased by 0.8% monthly.
- Australian NAB Business Conditions and Australian NAB Business Confidence: Australian NAB Business Conditions for April were reported at 14 and Australian NAB Business Confidence at 13. Forex traders can compare this to NAB Business Conditions for March which were reported at 12 and to Australian NAB Business Confidence which was reported at 6.
Should price action for the EURAUD remain inside the or breakdown below the 1.4750 to 1.4850 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.4800
- Take Profit Zone: 1.3900 – 1.4000
- Stop Loss Level: 1.5000
Should price action for the EURAUD breakout above 1.4850 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.4900
- Take Profit Zone: 1.5200 – 1.5300
- Stop Loss Level: 1.4750
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
