Here are the key factors to keep in mind today for Euro trades:
- German PPI: The German PPI for February increased by 0.2% monthly and by 3.1% annualized. Economists predicted an increase of 0.4% monthly and a decrease of 3.2% annualized. Forex traders can compare this to the German PPI for January which increased by 0.7% monthly and by 2.4% annualized.
- Eurozone Labor Costs: Eurozone Labor Costs for the fourth-quarter increased by 1.6% annualized. Forex traders can compare this to Eurozone Labor Costs for the third-quarter which increased by 1.4% annualized.
Here is the key factor to keep in mind today for British Pound trades:
- UK Rightmove House Prices: UK Rightmove House Prices for March increased by 1.3% monthly and by 2.3% annualized. Forex traders can compare this to UK Rightmove House Prices for February which increased by 2.0% monthly and by 2.3% annualized.
Should price action for the EURGBP remain inside the or breakout above the 0.8675 to 0.8725 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.8700
- Take Profit Zone: 0.9100 – 0.9150
- Stop Loss Level: 0.8600
Should price action for the EURGBP breakdown below 0.8675 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.8625
- Take Profit Zone: 0.8285 – 0.8325
- Stop Loss Level: 0.8700
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
