Here are the key factors to keep in mind today for Euro trades:
- German CPI: The Final German CPI for October increased by 0.2% monthly and by 2.5% annualized. Economists predicted an increase of 0.2% monthly and of 2.5% annualized. Forex traders can compare this to the previous German CPI for October which increased by 0.2% monthly and by 2.5% annualized.
- German ZEW Survey and Eurozone ZEW Survey: The German ZEW Survey Current Situation Index for November is predicted at 65.0 and the German ZEW Survey Economic Expectations Index at -26.0. Forex traders can compare this to the German ZEW Survey Current Situation Index for October which was reported at 70.1 and to the German ZEW Survey Economic Expectations Index which was reported at -24.7. The Eurozone ZEW Survey Economic Sentiment Index for November is predicted at -17.3. Forex traders can compare this to the Eurozone ZEW Survey Economic Sentiment Index for October which was reported at -19.4.
Here are the key factors to keep in mind today for British Pound trades:
- UK Jobless Claims Change and Claimant Count Rate: The UK Jobless Claims Change for October is predicted at 4.3K and the Claimant Count Rate is predicted at 2.6%. Forex traders can compare this to the UK Jobless Claims Change for September which was reported at 18.5K and to the Claimant Count Rate which was reported at 2.6%.
- UK Employment Change, ILO Unemployment Rate and Average Weekly Earnings: The UK Employment Change for the tri-monthly period ending in September is predicted at 25K and the ILO Unemployment Rate is predicted at 4.0%. Forex traders can compare this to the UK Employment Change for June which was reported at -5K and to the ILO Unemployment Rate which was reported at 4.0%. Average Weekly Earnings for the tri-monthly period ending in September are predicted to increase by 3.0% annualized and Average Weekly Earnings Excluding Bonuses are predicted to increase by 3.1% annualized. Forex traders can compare this to Average Weekly Earnings for August which increased by 2.7% and Average Weekly Earnings Excluding Bonuses which increased by 3.1%.
Should price action for the EURGBP remain inside the or breakout above the 0.8690 to 0.8740 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.8715
- Take Profit Zone: 0.8915 – 0.8940
- Stop Loss Level: 0.8690
Should price action for the EURGBP breakdown below 0.8690 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.8675
- Take Profit Zone: 0.8500 – 0.8545
- Stop Loss Level: 0.8715
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
