Here are the key factors to keep in mind today for Euro trades:
- German Import Price Index: The German Import Price Index for January increased by 0.9% monthly and by 6.0% annualized. Economists predicted an increase of 0.4% monthly and of 5.5% annualized. Forex traders can compare this to the German Import Price Index for December which increased by 1.9% monthly and by 3.5% annualized.
- Eurozone PPI: The Eurozone PPI for January is predicted to increase by 0.6% monthly by 3.6% annualized. Forex traders can compare this to the Eurozone PPI for December which increased by 0.7% monthly and by 1.6% annualized.
- Eurozone CPI and Eurozone Core CPI: The Eurozone CPI for February is predicted to increase by 1.9% annualized and the Eurozone Core CPI is predicted to increase by 0.9% annualized. Forex traders can compare this to the Eurozone CPI for January which increased by 1.8% annualized and to the Eurozone Core CPI which increased by 0.9% annualized.
- Eurozone Unemployment Rate: The Eurozone Unemployment Rate for January is predicted at 9.6%. Forex traders can compare this to the Eurozone Unemployment Rate for December which was reported at 9.6%.
Here are the key factors to keep in mind today for Swiss Franc trades:
- Swiss GDP: The Swiss GDP for the fourth-quarter increased by 0.1% quarterly and by 0.6% annualized. Economists predicted an increase of 0.5% quarterly and of 1.3% annualized. Forex traders can compare this to the Swiss GDP for the third-quarter which increased by 0.1% quarterly and by 1.4% annualized.
- Swiss Retail Sales: Swiss Retail Sales for January decreased by 1.4% annualized. Economists predicted a decrease of 2.0% annualized. Forex traders can compare this to Swiss Retail Sales for December which decreased by 4.1% annualized.
Should price action for the EURCHF remain inside the or breakout above the 1.0620 to 1.0660 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.0640
- Take Profit Zone: 1.0950– 1.1000
- Stop Loss Level: 1.0540
Should price action for the EURCHF breakdown below 1.0620 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.0600
- Take Profit Zone: 1.0500– 1.0550
- Stop Loss Level: 1.0660
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
