Here are the key factors to keep in mind today for Euro trades:
- German Markit Construction PMI: The German Markit Construction PMI for October was reported at 52.9. Forex traders can compare this to the German Markit Construction PMI for September which was reported at 52.4.
- Eurozone Retail PMI: The Eurozone Retail PMI for October was reported at 48.6. Forex traders can compare this to the Eurozone Retail PMI for September which was reported at 49.6. The German Retail PMI for October was reported at 51.0. Forex traders can compare this to the German Retail PMI for September which was reported at 53.0. The French Retail PMI for October was reported at 47.5. Forex traders can compare this to the French Retail PMI for September which was reported at 49.1. The Italian Retail PMI for October was reported at 46.5. Forex traders can compare this to the Italian Retail PMI for September which was reported at 45.0.
- Eurozone Sentix Investor Confidence: The Eurozone Sentix Investor Confidence for November was reported at 13.1. Forex traders can compare this to the October Eurozone Sentix Investor Confidence which was reported at 8.5.
- Eurozone Retail Sales: Eurozone Retail Sales for September decreased by 0.2% monthly and increased by 1.1% annualized. Forex traders can compare this to Eurozone Retail Sales for August which decreased by 0.2% monthly and which increase by 1.2% annualized.
Here are the key factors to keep in mind today for Swiss Franc trades:
- Swiss Foreign Currency Reserves: Swiss Foreign Currency Reserves for October were reported at CHF630.0B. Forex traders can compare this to Swiss Foreign Currency Reserves for September which were reported at CHF628.0B.
- Swiss CPI: The Swiss CPI for October increased by 0.1% monthly and decreased by 0.2% annualized. Forex traders can compare this to the Swiss CPI for September which increased by 0.1% monthly and decreased by 0.2% annualized. The Swiss EU Harmonized CPI for October increased by 0.1% monthly and decreased by 0.3% annualized. Forex traders can compare this to the Swiss EU Harmonized CPI for September which was flat at 0.0% monthly and which decreased by 0.3% annualized.
Should price action for the EURCHF remain inside the or breakout above the 1.0800 to 1.0820 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.0810
- Take Profit Zone: 1.0980 – 1.1000
- Stop Loss Level: 1.0730
Should price action for the EURCHF breakdown below 1.0800 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.0780
- Take Profit Zone: 1.0650 – 1.0730
- Stop Loss Level: 1.0800
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