Here are the key factors to keep in mind today for Euro trades:
- German Trade Balance & German Current Account Balance: The German Trade Balance for December was reported at a €13.9B. Economists predicted a figure of €17.3B. Forex traders can compare this to German Trade Balance for November which was reported at €20.5B. Exports for December increased by 1.5% monthly and Imports increased by 1.2% monthly. Economists predicted an increase of 0.5% monthly and of 0.4% monthly. Forex traders can compare this to Exports for November which decreased by 0.3% monthly and to Imports which decreased by 1.3% monthly. The German Current Account Balance for December was reported at a €21.0B. Economists predicted a figure of €23.3B. Forex traders can compare this to the German Current Account Balance for November which was reported at €21.6B.
- French Industrial Production and French Manufacturing Production: French Industrial Production for December increased by 0.8% monthly and decreased by 1.4% annualized. Economists predicted an increase of 0.6% monthly and a decrease of 1.4% annualized. Forex traders can compare this to French Industrial Production for November which decreased by 1.5% monthly and by 2.2% annualized. French Manufacturing Production for December increased by 1.0% monthly decreased by and by 1.0% annualized. Economists predicted an increase of 1.1% monthly and a decrease of 1.2% annualized. Forex traders can compare this to French Manufacturing Production for November which decreased by 1.5% monthly and by 2.3% annualized.
- Italian Industrial Production and Italian Manufacturing Production: Italian Industrial Production for December is predicted to increase by 0.4% monthly and to decrease by 3.3% annualized. Forex traders can compare this to Italian Industrial Production for November which decreased by 1.6% monthly and by 2.6% annualized.
Here are the key factors to keep in mind today for Swiss Franc trades:
- Swiss Unemployment Rate: The Swiss Unemployment Rate for January was reported at 2.4% and the Seasonally Adjusted Unemployment Rate was reported at 2.8%. Economists predicted a rate of 2.7% and of 2.4%. Forex traders can compare this to the Swiss Unemployment Rate for December which was reported at 2.7% and the Seasonally Adjusted Unemployment Rate which was reported at 2.4%.
- Swiss UBS Real Estate Bubble Index: The Swiss UBS Real Estate Bubble Index for the fourth-quarter was reported at 0.82. Forex traders can compare this to the Swiss UBS Real Estate Bubble Index for the third-quarter which was reported at 0.87.
Should price action for the EURCHF remain inside the or breakdown below the 1.1345 to 1.1370 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.1355
- Take Profit Zone: 1.1180 – 1.1210
- Stop Loss Level: 1.1400
Should price action for the EURCHF breakout above 1.1370 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.1390
- Take Profit Zone: 1.1470 – 1.1500
- Stop Loss Level: 1.1355
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