Here is the key factor to keep in mind today for Euro trades:
- German ZEW Survey and Eurozone ZEW Survey: The German ZEW Survey Current Situation for January is predicted at 65.0 and the German ZEW Survey Economic Sentiment at 18.4. Forex traders can compare this to the German ZEW Survey Current Situation for December which was reported at 63.5 and to the German ZEW Survey Economic Sentiment which was reported at 13.8. The Eurozone ZEW Survey Economic Sentiment for January is predicted at 20.5. Forex traders can compare this to the Eurozone ZEW Survey Economic Sentiment for December which was reported at 18.1.
Here are the key factors to keep in mind today for British Pound trades:
- UK CPI: The UK CPI for December is predicted to increase by 0.3% monthly and by 1.4% annualized. Forex traders can compare this to the UK CPI for November which increased by 0.2% monthly and by 1.2% annualized. The Core CPI for December is predicted to increase by 1.4% annualized. Forex traders can compare this to Core CPI for November which increased by 1.4% annualized.
- UK PPI: The UK PPI Input for December is predicted to increase by 2.4% monthly and by 15.5% annualized. Forex traders can compare this to the UK PPI Input for November which decreased by 1.1% monthly and which increased by 12.9% annualized. The UK PPI Output for December is predicted to increase by 0.4% monthly and by 2.9% annualized. Forex traders can compare this to the UK PPI Output for November which was reported flat at 0.0% monthly and which increased by 2.3% annualized. The UK PPI Core Output for December is predicted to increase by 0.2% monthly and by 2.2% annualized. Forex traders can compare this to the UK PPI Core Output for November which was reported flat at 0.0% monthly and which increased by 2.2% annualized.
- UK RPI: The UK RPI for December is predicted to increase by 0.4% monthly and by 2.3% annualized. Forex traders can compare this to the UK RPI for November which increased by 0.3% monthly and by 2.2% annualized. The UK RPI Excluding Mortgage Interest Payments for December is predicted to increase by 2.5% annualized. Forex traders can compare this to the UK RPI Excluding Mortgage Interest Payments for November which increased by 2.5% annualized.
- UK House Price Index: The UK House Price Index for November is predicted to increase by 6.1% annualized. Forex traders can compare this to the UK House Price Index for October which increased by 6.9% annualized.
Should price action for the EURGBP remain inside the or breakdown below the 0.8775 to 0.8800 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.8790
- Take Profit Zone: 0.8250 – 0.8300
- Stop Loss Level: 0.9000
Should price action for the EURGBP breakout above 0.8880 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.8825
- Take Profit Zone: 0.9000 – 0.9050
- Stop Loss Level: 0.8775
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