Here are the key factors to keep in mind today for Euro trades:
- German Factory Orders: German Factory Orders for October increased by 0.5% monthly and by 6.9% annualized. Economists predicted a decrease of 0.2% monthly and an increase of 7.0% annualized. Forex traders can compare this to German Factory Orders for September which increased by 1.0% monthly and by 9.5% annualized.
- German Markit Construction PMI: The German Markit Construction PMI for November was reported at 53.1. Forex traders can compare this to the German Markit Construction PMI for October which was reported at 53.3.
- Eurozone Retail PMI: The Eurozone Retail PMI for November was reported at 52.4. Forex traders can compare this to the Eurozone Retail PMI for October which was reported at 51.1. The German Retail PMI for November was reported at 54.6. Forex traders can compare this to the German Retail PMI for October which was reported at 51.2. The French Retail PMI for November was reported at 52.2. Forex traders can compare this to the French Retail PMI for October which was reported at 51.5. The Italian Retail PMI for November was reported at 49.2. Forex traders can compare this to the Italian Retail PMI for October which was reported at 50.3.
Here is the key factor to keep in mind today for Swiss Franc trades:
- Swiss CPI: The Swiss CPI for November decreased by 0.1% monthly and increased by 0.8% annualized. Economists predicted a flat reading of 0.0% monthly and an increase of 0.8% annualized. Forex traders can compare this to the Swiss CPI for October which increased by 0.1% monthly and by 0.7% annualized. The Swiss EU Harmonized CPI for November decreased by 0.3% monthly and increased by 0.8% annualized. Forex traders can compare this to the Swiss EU Harmonized CPI for October which increased by 0.1% monthly and by 0.8% annualized.
Should price action for the EURCHF remain inside the or breakdown below the 1.1660 to 1.1690 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.1675
- Take Profit Zone: 1.1485 – 1.1500
- Stop Loss Level: 1.1735
Should price action for the EURCHF breakout above 1.1690 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.1710
- Take Profit Zone: 1.1760 – 1.1800
- Stop Loss Level: 1.1660
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