Here are the key factors to keep in mind today for Euro trades:
- Eurozone Current Account: The Eurozone Current Account (s.a.) for June was reported at €23.5B and the Eurozone Current Account (n.s.a) was reported at €28.5B. Forex traders can compare this to the Eurozone Current Account (s.a.) for May which was reported at €24.4B and to the Eurozone Current Account (n.s.a.) which was reported at €6.8B.
- Eurozone Final CPI and Eurozone Final Core CPI: The Eurozone CPI for July is predicted to decrease by 0.3% monthly. Forex traders can compare this to the Eurozone CPI for June which increased by 0.1% monthly. The Final Eurozone CPI for July is predicted to increase by 2.1% annualized and the Final Eurozone Core CPI is predicted to increase by 1.1% annualized. Forex traders can compare this to the previous Eurozone CPI for July which increased by 2.0% annualized and to the previous Eurozone Core CPI which increased by 1.1% annualized.
Here are the key factors to keep in mind today for Canadian Dollar trades:
- Canadian International Securities Transactions: Canadian International Securities Transactions for June are predicted at C$4.91B. Forex traders can compare this to Canadian International Securities Transactions for May which were reported at C$2.18B.
- Canadian CPI: The Canadian CPI for July is predicted to increase by 0.1% monthly and by 2.2% annualized. Forex traders can compare this to the Canadian CPI for June which increased by 0.1% monthly and by 2.5% annualized. The Canadian Core CPI for July is predicted to increase by 2.0% annualized. Forex traders can compare this to the Canadian Core CPI for June which increased by 2.0% annualized. The Core CPI-Median for July is predicted to increase by 2.0% annualized and the Core CPI-Trim is predicted to increase by 2.0% annualized. Forex traders can compare this to the Core CPI-Median for June which increased by 2.0% annualized and to the Core CPI-Trim which increased by 2.0% annualized.
Should price action for the EURCAD remain inside the or breakout above the 1.4920 to 1.5010 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.4980
- Take Profit Zone: 1.5485 – 1.5585
- Stop Loss Level: 1.4800
Should price action for the EURCAD breakdown below 1.4920 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.4690
- Take Profit Zone: 1.4440 – 1.4565
- Stop Loss Level: 1.4980
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
