Here are the key factors to keep in mind today for Euro trades:
- German Import Price Index: The German Import Price Index for April increased by 0.3% monthly and by 1.4% annualized. Economists predicted an increase of 0.5% monthly and of 1.6% annualized. Forex traders can compare this to the German Import Price Index for March which was reported flat at 0.0% monthly and which increased by 1.7% annualized.
- German GfK Consumer Confidence Survey: The German GfK Consumer Confidence Survey for June was reported at 10.1. Economists predicted a figure of 10.4. Forex traders can compare this to the German GfK Consumer Confidence Survey for May which was reported at 10.4.
- Eurozone Money Supply M3: Eurozone Money Supply M3 for April is predicted to increase by 4.4% annualized. Forex traders can compare this to Eurozone Money Supply M3 for March which increased by 4.5% annualized and influenced for fx trading corporation.
- Eurozone Confidence Data: Eurozone Economic Confidence for May is predicted at 103.9. Forex traders can compare this to Eurozone Economic Confidence for April which was reported at 104.0. Eurozone Industrial Confidence for May is predicted at -4.2. Forex traders can compare this to Eurozone Industrial Confidence for April which was reported at -4.1. Eurozone Services Confidence for May is predicted at 11.0. Forex traders can compare this to Eurozone Services Confidence for April which was reported at 11.5. Final Eurozone Consumer Confidence for May is predicted at -6.5. Forex traders can compare this to the previous Eurozone Consumer Confidence for May which was reported at -6.5. The Eurozone Business Climate Indicator for May is predicted at 0.40. Forex traders can compare this to Eurozone Business Climate Indicator for April which was reported at 0.42.
Here are the key factors to keep in mind today for Swiss Franc trades:
- Swiss GDP: The Swiss GDP for the first-quarter increased by 0.6% quarterly and by 1.7% annualized. Economists predicted an increase of 0.3% quarterly and of 1.0% annualized. Forex traders can compare this to the Swiss GDP for the fourth-quarter which increased by 0.3% quarterly and by 1.5% annualized for sucsefully investing in forex.
- Swiss Trade Balance: The Swiss Trade Balance for April was reported at CHF2.294B. Economists predicted a figure of CHF2.980B. Forex traders can compare this to the Swiss Trade Balance for March which was reported at CHF3.247B. Exports for April decreased by 0.6% monthly and Imports increased by 1.5% monthly. Forex traders can compare this to Exports for March which increased by 0.5% monthly and to Imports which decreased by 3.3% monthly.
Should price action for the EURCHF remain inside the or breakout above the 1.1220 to 1.1260 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.1235
- Take Profit Zone: 1.1350 – 1.1390
- Stop Loss Level: 1.1195
Should price action for the EURCHF breakdown below 1.1220 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.1205
- Take Profit Zone: 1.1085 – 1.1125
- Stop Loss Level: 1.1235
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