Here are the key factors to keep in mind today for Euro trades:
- Eurozone Trade Balance: The Eurozone Trade Balance for October is predicted at €14.0B. Forex traders can compare this to the Eurozone Trade Balance for September which was reported at €13.4B.
- Eurozone Final CPI: The Eurozone CPI for November is predicted to decrease by 0.2% monthly. Forex traders can compare this to the Eurozone CPI for October which increased by 0.2% monthly. The Final Eurozone CPI for November is predicted to increase by 2.0% annualized and the Final Eurozone Core CPI is predicted to increase by 1.0% annualized. Forex traders can compare this to the previous Eurozone CPI for November which increased by 2.2% annualized and to the previous Eurozone Core CPI which increased by 1.0% annualized.
Here is the key factor to keep in mind today for British Pound trades:
- UK Rightmove House Prices: UK Rightmove House Prices for December decreased by 1.5% monthly and increased by 0.7% annualized. Forex traders can compare this to UK Rightmove House Prices for November which decreased by 1.7% monthly and by 0.2% annualized.
Should price action for the EURGBP remain inside the or breakdown below the 0.8960 to 0.8900 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.8985
- Take Profit Zone: 0.8655 – 0.8700
- Stop Loss Level: 0.9060
Should price action for the EURGBP breakout above 0.8900 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.9015
- Take Profit Zone: 0.9080 – 0.9100
- Stop Loss Level: 0.8985
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
