Here are the key factors to keep in mind today for Euro trades:
- German Industrial Production: German Industrial Production for August decreased by 0.3% monthly and by 0.1% annualized. Economists predicted an increase of 0.3% monthly and a decrease of 0.1% annualized. Forex traders can compare this to German Industrial Production for July which decreased by 1.1% monthly and which increased by 1.1% annualized.
- Eurozone Sentix Investor Confidence: Eurozone Sentix Investor Confidence for October was reported at 11.4. Economists predicted a figure of 11.7. Forex traders can compare this to Eurozone Sentix Investor Confidence for September which was reported at 12.0.
Here are the key factors to keep in mind today for Swiss Franc trades:
- Swiss Unemployment Rate: The Swiss Unemployment Rate for September was reported at 2.4% and the Seasonally Adjusted Unemployment Rate was reported at 2.5%. Economists predicted a rate of 2.4% and of 2.5%. Forex traders can compare this to the Swiss Unemployment Rate for August which was reported at 2.4% and the Seasonally Adjusted Unemployment Rate which was reported at 2.6%.
- Swiss Total Sight Deposits and Swiss Domestic Sight Deposits: Swiss Total Sight Deposits for the week of October 5th were reported at CHF577.5B and Swiss Domestic Sight Deposits were reported at CHF469.4B. Forex traders can compare this to Swiss Total Sight Deposits for the week of September 28th which were reported at CHF577.9B and to Swiss Domestic Sight Deposits which were reported at CHF474.8B.
Should price action for the EURCHF remain inside the or breakdown below the 1.1365 to 1.1435 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.1390
- Take Profit Zone: 1.1185 – 1.1220
- Stop Loss Level: 1.1450
Should price action for the EURCHF breakout above 1.1435 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.1450
- Take Profit Zone: 1.1555 – 1.1600
- Stop Loss Level: 1.1390
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
