Here are the key factors to keep in mind today for Euro trades:
- Eurozone Wages and Eurozone Labor Costs: Eurozone Wages for the fourth-quarter increased by 2.3% annualized and Eurozone Labor Costs increased by 2.3% annualized. Forex traders can compare this to Eurozone Wages for the third-quarter which increased by 2.3% annualized and to Eurozone Labor Costs which increased by 2.5% annualized.
- German ZEW Survey and Eurozone ZEW Survey: The German ZEW Survey Current Situation Index for March was reported at 11.1 and the German ZEW Survey Economic Expectations Index was reported at -3.6. Economists predicted a figure of 13.0 and -11.0. Forex traders can compare this to the German ZEW Survey Current Situation Index for February which was reported at 15.0 and to the German ZEW Survey Economic Expectations Index which was reported at -13.4. The Eurozone ZEW Survey Economic Sentiment Index for March was reported at -15.1. Economists predicted a figure of -16.0. Forex traders can compare this to the Eurozone ZEW Survey Economic Sentiment Index for February which was reported at -16.6.
Here is the key factor to keep in mind today for Swiss Franc trades:
- Swiss Trade Balance: The Swiss Trade Balance for February was reported at CHF3.125B. Economists predicted a figure of CHF2.880B. Forex traders can compare this to the Swiss Trade Balance for January which was reported at CHF3.044B. Exports for February increased by 1.3% monthly and Imports decreased by 3.0% monthly. Forex traders can compare this to Exports for January which increased by 0.9% monthly and to Imports which increased by 5.4% monthly. Swiss Watch Exports for February increased by 3.4% annualized. Forex traders can compare this to Swiss Watch Exports for January which increased by 0.6% annualized.
Should price action for the EURCHF remain inside the or breakdown below the 1.1335 to 1.1365 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.1350
- Take Profit Zone: 1.1180 – 1.1210
- Stop Loss Level: 1.1390
Should price action for the EURCHF breakout above 1.1365 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.1385
- Take Profit Zone: 1.1440 – 1.1500
- Stop Loss Level: 1.1350
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