Here are the key factors to keep in mind today for Euro trades:
- German Industrial Production: German Industrial Production for November decreased by 1.9% monthly and by 4.7% annualized. Economists predicted an increase of 0.3% monthly and a decrease of 0.8% annualized. Forex traders can compare this to German Industrial Production for October which decreased by 0.8% monthly and which increased by 0.5% annualized.
- Eurozone Confidence Data: Eurozone Economic Confidence for December was reported at 107.3. Economists predicted a figure of 108.2. Forex traders can compare this to Eurozone Economic Confidence for November which was reported at 109.5. Eurozone Industrial Confidence for December was reported at 1.1. Economists predicted a figure of 3.0. Forex traders can compare this to Eurozone Industrial Confidence for November which was reported at 3.4. Eurozone Services Confidence for December was reported at 12.0. Economists predicted a figure of 12.3. Forex traders can compare this to Eurozone Services Confidence for November which was reported at 13.4. Final Eurozone Consumer Confidence for December was reported at -6.2. Economists predicted a figure of -6.2. Forex traders can compare this to previous Eurozone Consumer Confidence for December which was reported at -6.2. The Eurozone Business Climate Indicator for December was reported at 0.82. Economists predicted a figure of 1.00. Forex traders can compare this to Eurozone Business Climate Indicator for November which was reported at 1.04.
Here is the key factor to keep in mind today for Swiss Franc trades:
- Swiss Retail Sales: Swiss Retail Sales for November decreased by 0.5% annualized. Economists predicted a decrease of 0.6% annualized. Forex traders can compare this to Swiss Retail Sales for October which increased by 0.8% annualized.
Should price action for the EURCHF remain inside the or breakout above the 1.1215 to 1.1260 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.1225
- Take Profit Zone: 1.1420 – 1.1470
- Stop Loss Level: 1.1180
Should price action for the EURCHF breakdown below 1.1215 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.1200
- Take Profit Zone: 1.1045 – 1.1115
- Stop Loss Level: 1.1225
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