Here are the key factors to keep in mind today for Euro trades:
- German PPI: The German PPI for March increased by 0.1% monthly and by 1.9% annualized. Economists predicted an increase of 0.2% monthly and of 2.0% annualized. Forex traders can compare this to the German PPI for February which decreased by 0.1% monthly and which increased by 1.8% annualized.
- Advanced Eurozone Consumer Confidence: Advanced Eurozone Consumer Confidence for April is predicted at -0.1. Forex traders can compare this to the previous Eurozone Consumer Confidence for April which was reported at 0.1.
Here are the key factors to keep in mind today for Canadian Dollar trades:
- Canadian Retail Sales: Canadian Retail Sales for February are predicted to increase by 0.5% monthly. Forex traders can compare this to Canadian Retail Sales for January which increased by 0.3% monthly. Canadian Retail Sales Less Autos for February are predicted to increase by 0.5% monthly. Forex traders can compare this to Canadian Retail Sales Less Autos for January which increased by 0.9% monthly.
- Canadian CPI: The Canadian CPI for March is predicted to increase by 0.4% monthly and by 2.4% annualized. Forex traders can compare this to the Canadian CPI for February which increased by 0.6% monthly and by 2.2% annualized. The Canadian Core CPI for March is predicted to increase by 2.0% annualized. Forex traders can compare this to the Canadian Core CPI for February which increased by 1.9% annualized. The Core CPI-Median for March is predicted to increase by 2.2% annualized and the Core CPI-Trim is predicted to increase by 2.1% annualized. Forex traders can compare this to the Core CPI-Median for February which increased by 2.1% annualized and to the Core CPI-Trim which increased by 2.1% annualized.
Should price action for the EURCAD remain inside the or breakout above the 1.5600 to 1.5680 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.5630
- Take Profit Zone: 1.6150 – 1.6200
- Stop Loss Level: 1.5460
Should price action for the EURCAD breakdown below 1.5600 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.5575
- Take Profit Zone: 1.5375 – 1.5410
- Stop Loss Level: 1.5630
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
