Here is the key factors to keep in mind today for Euro trades:
- German PPI: The German PPI for February is predicted to increase by 0.2% monthly and by 2.9% annualized. Forex traders can compare this to the German PPI for January which increased by 0.4% monthly and by 2.6% annualized.
Here are the key factors to keep in mind today for British Pound trades:
- UK CPI: The UK CPI for February is predicted to increase by 0.4% monthly and by 1.8% annualized. Forex traders can compare this to the UK CPI for January which decreased by 0.8% monthly and which increased by 1.8% annualized. The Core CPI for February is predicted to increase by 1.9% annualized and the CPI Including Housing Costs is predicted to increase by 1.8% annualized. Forex traders can compare this to Core CPI for January which increased by 1.9% annualized and to the CPI Including Housing Costs which increased by 1.8% annualized.
- UK PPI: The UK PPI Input for February is predicted to increase by 0.6% monthly and by 4.1% annualized. Forex traders can compare this to the UK PPI Input for January which decreased by 0.1% monthly and which increased by 2.9% annualized. The UK PPI Output for February is predicted to increase by 0.1% monthly and by 2.2% annualized. Forex traders can compare this to the UK PPI Output for January which was reported flay at 0.0% monthly and which increased by 2.1% annualized. The UK PPI Core Output for February is predicted to increase by 0.2% monthly and by 2.3% annualized. Forex traders can compare this to the UK PPI Core Output for January which increased by 0.4% monthly and by 2.4% annualized.
- UK RPI: The UK RPI for February is predicted to increase by 0.7% monthly and by 2.5% annualized. Forex traders can compare this to the UK RPI for January which decreased by 0.9% monthly and which increased by 2.5% annualized. The UK RPI Excluding Mortgage Interest Payments for February is predicted to increase by 2.5% annualized. Forex traders can compare this to the UK RPI Excluding Mortgage Interest Payments for January which increased by 2.5% annualized.
- UK House Price Index: The UK House Price Index for February is predicted to increase by 2.4% annualized. Forex traders can compare this to the UK House Price Index for January which increased by 2.5% annualized.
- UK CBI Trends Total Orders and CBI Trends Selling Prices: UK CBI Trends Total Orders for March are predicted at 5 and CBI Trends Selling Prices are predicted at 18. Forex traders can compare this to CBI Trends Total Orders for February which were reported at 6 and to CBI Trends Selling Prices which were reported at 22.
Should price action for the EURGBP remain inside the or breakout above the 0.8535 to 0.8575 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.8560
- Take Profit Zone: 0.8815 – 0.8860
- Stop Loss Level: 0.8500
Should price action for the EURGBP breakdown below 0.8535 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.8510
- Take Profit Zone: 0.8315– 0.8385
- Stop Loss Level: 0.8560
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
