Here are the key factors to keep in mind today for Euro trades:
- German PPI: The German PPI for July increased by 0.2% monthly and by 3.0% annualized. Economists predicted an increase of 0.2% monthly and of 3.0% annualized. Forex traders can compare this to the German PPI for June which increased by 0.3% monthly and by 3.0% annualized.
- Eurozone Construction Output: Eurozone Construction Output for June increased by 0.2% monthly and by 2.6% annualized. Forex traders can compare this to Eurozone Construction Output for May which increased by 0.3% monthly and by 2.0% annualized.
Here is the key factor to keep in mind today for Swiss Franc trades:
- Swiss Total Sight Deposits and Swiss Domestic Sight Deposits: Swiss Total Sight Deposits for the week of August 17th were reported at CHF576.7B and Swiss Domestic Sight Deposits were reported at CHF472.6B. Forex traders can compare this to Swiss Total Sight Deposits for the week of August 10th which were reported at CHF576.1B and to Swiss Domestic Sight Deposits which were reported at CHF473.4B.
Should price action for the EURCHF remain inside the or breakout above the 1.1325 to 1.1390 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.1365
- Take Profit Zone: 1.1670 – 1.1710
- Stop Loss Level: 1.1245
Should price action for the EURCHF breakdown below 1.1325 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.1285
- Take Profit Zone: 1.0985 – 1.1025
- Stop Loss Level: 1.1325
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
