Here are the key factors to keep in mind today for Euro trades:
- German Factory Orders: German Factory Orders for March decreased by 0.9% monthly and increased by 3.1% annualized. Economists predicted an increase of 0.5% monthly and of 5.0% annualized. Forex traders can compare this to German Factory Orders for February which increased by 0.3% monthly and by 3.5% annualized.
- German Markit Construction PMI: The German Markit Construction PMI for April was reported at 50.9. Forex traders can compare this to the German Markit Construction PMI for March which was reported at 47.0.
- Eurozone Retail PMI: The Eurozone Retail PMI for April was reported at 48.6. Forex traders can compare this to the Eurozone Retail PMI for March which was reported at 50.1. The German Retail PMI for April was reported at 51.0. Forex traders can compare this to the German Retail PMI for March which was reported at 51.5. The French Retail PMI for April was reported at 50.1. Forex traders can compare this to the French Retail PMI for March which was reported at 50.0. The Italian Retail PMI for April was reported at 42.7. Forex traders can compare this to the Italian Retail PMI for March which was reported at 48.0.
- Eurozone Sentix Investor Confidence: Eurozone Sentix Investor Confidence for May was reported at 19.2. Economists predicted a figure of 21.0. Forex traders can compare this to Eurozone Sentix Investor Confidence for April which was reported at 19.6.
Here are the key factors to keep in mind today for Swiss Franc trades:
- Swiss CPI: The Swiss CPI for April increased by 0.2% monthly and by 0.8% annualized. Economists predicted an increase of 0.3% monthly and of 0.9% annualized. Forex traders can compare this to the Swiss CPI for March which increased by 0.4% monthly and by 0.8% annualized. The Swiss EU Harmonized CPI for April increased by 0.2% monthly and by 0.4% annualized. Forex traders can compare this to the Swiss EU Harmonized CPI for March which increased by 0.3% monthly and by 0.7% annualized.
- Swiss Total Sight Deposits and Swiss Domestic Sight Deposits: Swiss Total Sight Deposits for the week of May 4th were reported at CHF575.9B and Swiss Domestic Sight Deposits were reported at CHF473.8B. Forex traders can compare this to Swiss Total Sight Deposits for the week of April 27th which were reported at CHF575.2B and to Swiss Domestic Sight Deposits which were reported at CHF471.2B.
Should price action for the EURCHF remain inside the or breakout above the 1.1945 to 1.1975 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.1965
- Take Profit Zone: 1.2135 – 1.2175
- Stop Loss Level: 1.1890
Should price action for the EURCHF breakdown below 1.1945 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.1930
- Take Profit Zone: 1.1800– 1.1830
- Stop Loss Level: 1.1975
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