Here is the key factor to keep in mind today for Euro trades:
- German IFO: The German IFO Business Climate Index for November was reported at 102.0. Economists predicted a figure of 102.3. Forex traders can compare this to the German IFO Business Climate Index for October which was reported at 102.9. The German IFO Current Assessment Index for November was reported at 105.4. Economists predicted a figure of 105.3. Forex traders can compare this to the German IFO Current Assessment Index for October which was reported at 106.1. The German IFO Expectations Index for November was reported at 98.7. Economists predicted a figure of 99.3. Forex traders can compare this to the German IFO Expectations Index for October which was reported at 99.7.
Here is the key factor to keep in mind today for Swiss Franc trades:
- Swiss Total Sight Deposits and Swiss Domestic Sight Deposits: Swiss Total Sight Deposits for the week of November 23rd were reported at CHF577.3B and Swiss Domestic Sight Deposits were reported at CHF472.7B. Forex traders can compare this to Swiss Total Sight Deposits for the week of November 16th which were reported at CHF577.3B and to Swiss Domestic Sight Deposits which were reported at CHF474.5B.
Should price action for the EURCHF remain inside the or breakout above the 1.1300 to 1.1355 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.1335
- Take Profit Zone: 1.1500 – 1.1555
- Stop Loss Level: 1.1270
Should price action for the EURCHF breakdown below 1.1300 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.1280
- Take Profit Zone: 1.1150 – 1.1180
- Stop Loss Level: 1.1300
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