Here are the key factors to keep in mind today for Euro trades:
- German Industrial Production: German Industrial Production for June decreased by 1.1% monthly and increased by 2.4% annualized. Economists predicted an increase of 0.2% monthly and of 3.7% annualized. Forex traders can compare this to German Industrial Production for May which increased by 1.2% monthly and by 4.8% annualized.
- Eurozone Sentix Investor Confidence: Eurozone Sentix Investor Confidence for August was reported at 27.7. Economists predicted a figure of 27.6. Forex traders can compare this to Eurozone Sentix Investor Confidence for July which was reported at 28.3.
Here are the key factors to keep in mind today for Swiss Franc trades:
- Swiss Foreign Currency Reserves: Swiss Foreign Currency Reserves for July were reported at CHF714.3B. Forex traders can compare this to Swiss Foreign Currency Reserves for June which were reported at CHF693.5B.
- Swiss CPI: The Swiss CPI for July decreased by 0.3% monthly and increased by 0.3% annualized. Economists predicted a decrease of 0.3% monthly and an increase of 0.3% annualized. Forex traders can compare this to the Swiss CPI for June which decreased by 0.1% monthly and which increased by 0.2% annualized. The Swiss EU Harmonized CPI for July increased by 0.1% monthly and by 0.6% annualized. Forex traders can compare this to the Swiss EU Harmonized CPI for June which was reported flat at 0.0% monthly and which increased by 0.6% annualized.
Should price action for the EURCHF remain inside the or breakdown below the 1.1450 to 1.1500 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.1475
- Take Profit Zone: 1.1200 – 1.1250
- Stop Loss Level: 1.1550
Should price action for the EURCHF breakout above 1.1500 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.1550
- Take Profit Zone: 1.1650 – 1.1700
- Stop Loss Level: 1.1475
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
