Here are the key factors to keep in mind today for Euro trades:
- German GDP: The preliminary German GDP for the fourth-quarter is predicted to increase by 0.5% quarterly and by 1.8% annualized. Forex traders can compare this to the German GDP for the third-quarter which increased by 0.2% quarterly and by 1.7% annualized.
- German CPI: The Final German CPI for January is predicted to decrease by 0.6% monthly and to increase by 1.9% annualized. Forex traders can compare this to the previous German CPI for January which decreased by 0.6% monthly and which increased by 1.9% annualized.
- Italian GDP: The preliminary Italian GDP for the fourth-quarter is predicted to increase by 0.3% quarterly and by 1.0% annualized. Forex traders can compare this to the Italian GDP for the third-quarter which increased by 0.3% quarterly and by 1.0% annualized.
- Eurozone Industrial Production: Eurozone Industrial Production for December is predicted to decrease by 1.5% monthly and to increase by 1.7% annualized. Forex traders can compare this to Eurozone Industrial Production for November which increased by 1.5% monthly and by 3.2% annualized.
- German ZEW Survey and Eurozone ZEW Survey: The German ZEW Survey Current Situation for February is predicted at 77.2 and the German ZEW Survey Economic Sentiment at 15.0. Forex traders can compare this to the German ZEW Survey Current Situation for January which was reported at 77.3 and the German ZEW Survey Economic Sentiment which was reported at 16.6. The Eurozone ZEW Survey Economic Sentiment for February is predicted at 22.3. Forex traders can compare this to the Eurozone ZEW Survey Economic Sentiment for January which was reported at 23.2.
- Eurozone GDP: The preliminary Eurozone GDP for the fourth-quarter is predicted to increase by 0.5% quarterly and by 1.8% annualized. Forex traders can compare this to the Eurozone GDP for the third-quarter which increased by 0.5% quarterly and by 1.8% annualized.
Here are the key factors to keep in mind today for Swiss Franc trades:
- Swiss CPI: The Swiss CPI for January is predicted to decreased by 0.1% monthly and to increase by 0.3% annualized. Forex traders can compare this to the Swiss CPI for December which decreased by 0.1% monthly and which was reported flat at 0.0% annualized. The Swiss EU Harmonized CPI for January is predicted to decrease by 0.1% monthly and by 0.1% annualized. Forex traders can compare this to the Swiss EU Harmonized CPI for December which decreased by 0.1% monthly and by 0.2% annualized.
- Swiss Producer & Import Prices: Swiss Producer & Import Prices for January are predicted to increase by 0.2% monthly and by 0.5% annualized. Forex traders can compare this to Swiss Producer & Import Prices for December which increased by 0.2% monthly and which were reported flat at 0.0% annualized.
Should price action for the EURCHF remain inside the or breakout above the 1.0650 to 1.0700 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.0675
- Take Profit Zone: 1.0950– 1.1000
- Stop Loss Level: 1.0600
Should price action for the EURCHF breakdown below 1.0650 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.0625
- Take Profit Zone: 1.0500– 1.0550
- Stop Loss Level: 1.0700
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
