Here are the key factors to keep in mind today for Euro trades:
- German Factory Orders: German Factory Orders for November decreased by 0.4% monthly and increased by 8.7% annualized. Economists predicted a flat reading of 0.0% monthly and an increase of 7.8% annualized. Forex traders can compare this to German Factory Orders for October which increased by 0.5% monthly and by 6.9% annualized.
- Eurozone Sentix Investor Confidence: Eurozone Sentix Investor Confidence for January was reported at 32.9. Economists predicted a figure of 31.3. Forex traders can compare this to Eurozone Sentix Investor Confidence for December which was reported at 31.1.
- Eurozone Retail Sales: Eurozone Retail Sales for November increased by 1.5% monthly and by 2.8% annualized. Economists predicted an increase of 1.3% monthly and of 2.4% annualized. Forex traders can compare this to Eurozone Retail Sales for October which decreased by 1.1% monthly and which increased by 0.2% annualized.
- Eurozone Confidence Data: Eurozone Economic Confidence for December was reported at 116.0. Economists predicted a figure of 114.8. Forex traders can compare this to Eurozone Economic Confidence for November which was reported at 114.6. Eurozone Industrial Confidence for December was reported at 9.1. Economists predicted a figure of 8.4. Forex traders can compare this to Eurozone Industrial Confidence for November which was reported at 8.1. Eurozone Services Confidence for December was reported at 18.4. Economists predicted a figure of 16.5. Forex traders can compare this to Eurozone Services Confidence for November which was reported at 16.4. Final Eurozone Consumer Confidence for December was reported at 0.5 Economists predicted a figure of 0.5. Forex traders can compare this to the first Eurozone Consumer Confidence for December which was reported at 0.0. The Eurozone Business Climate Indicator for December was reported at 1.66. Economists predicted a figure of 1.50. Forex traders can compare this to Eurozone Business Climate Indicator for November which was reported at 1.49.
Here is the key factor to keep in mind today for Swiss Franc trades:
- Swiss CPI: The Swiss CPI for December was reported flat at 0.0% monthly and increased by 0.8% annualized. Economists predicted a decrease of 0.1% monthly and an increase of 0.8% annualized. Forex traders can compare this to the Swiss CPI for November which decreased by 0.1% monthly and which increased by 0.8% annualized. The Swiss EU Harmonized CPI for December increased by 0.2% monthly and by 1.1% annualized. Forex traders can compare this to the Swiss EU Harmonized CPI for November which decreased by 0.3% monthly and which increased by 0.8% annualized.
- Swiss Total Sight Deposits and Swiss Domestic Sight Deposits: Swiss Total Sight Deposits for the week of January 5th were reported at CHF572.8B and Swiss Domestic Sight Deposits were reported at CHF471.4B. Forex traders can compare this to Swiss Total Sight Deposits for the week of December 29th which were reported at CHF573.2B and to Swiss Domestic Sight Deposits which were reported at CHF473.4B.
Should price action for the EURCHF remain inside the or breakdown below the 1.1675 to 1.1725 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.1700
- Take Profit Zone: 1.1390 – 1.1435
- Stop Loss Level: 1.1780
Should price action for the EURCHF breakout above 1.1725 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.1760
- Take Profit Zone: 1.1850 – 1.1900
- Stop Loss Level: 1.1700
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