Here is the key factor to keep in mind today for Euro trades:
- Eurozone CPI and Eurozone Core CPI: The Eurozone CPI for June is predicted to increase by 0.1% monthly and by 2.0% annualized. Forex traders can compare this to the Eurozone CPI for May which increased by 0.5% monthly and by 1.9% annualized. The Eurozone Core CPI for June is predicted to increase by 0.1% monthly and by 1.0% annualized. Forex traders can compare this to the Eurozone Core CPI for May which increased by 0.3% monthly and by 1.0% annualized.
Here are the key factors to keep in mind today for British Pound trades:
- UK CPI: The UK CPI for June is predicted to increase by 0.2% monthly and by 2.6% annualized. Forex traders can compare this to the UK CPI for May which increased by 0.4% monthly and by 2.4% annualized. The Core CPI for June is predicted to increase by 2.1% annualized. Forex traders can compare this to Core CPI for May which increased by 2.1% annualized.
- UK PPI: The UK PPI Input for June is predicted to increase by 0.4% monthly and by 10.1% annualized. Forex traders can compare this to the UK PPI Input for May which increased by 2.8% monthly and by 9.2% annualized. The UK PPI Output for June is predicted to increase by 0.3% monthly and by 3.2% annualized. Forex traders can compare this to the UK PPI Output for May which increased by 0.4% monthly and by 2.9% annualized. The UK PPI Core Output for June is predicted to increase by 0.2% monthly and by 2.1% annualized. Forex traders can compare this to the UK PPI Core Output for May which increased by 0.2% monthly and by 2.1% annualized.
- UK RPI: The UK RPI for June is predicted to increase by 0.4% monthly and by 3.5% annualized. Forex traders can compare this to the UK RPI for May which increased by 0.4% monthly and by 3.3% annualized. The UK RPI Excluding Mortgage Interest Payments for June is predicted to increase by 3.6% annualized. Forex traders can compare this to the UK RPI Excluding Mortgage Interest Payments for May which increased by 3.4% annualized.
- UK House Price Index: The UK House Price Index for May is predicted to increase by 3.7% annualized. Forex traders can compare this to the UK House Price Index for April which increased by 3.9% annualized.
Should price action for the EURGBP remain inside the or breakdown below the 0.8860 to 0.8915 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.8890
- Take Profit Zone: 0.8620 – 0.8655
- Stop Loss Level: 0.8965
Should price action for the EURGBP breakout above 0.8915 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.8925
- Take Profit Zone: 0.9015 – 0.9030
- Stop Loss Level: 0.8890
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
