Here are the key factors to keep in mind today for Euro trades:
- German GDP: The Preliminary German GDP for the third-quarter increased by 0.8% quarterly and by 2.3% annualized. Economists predicted an increase of 0.6% quarterly and of 2.0% annualized. Forex traders can compare this to the German GDP report for the second-quarter which increased by 0.6% quarterly and by 1.0% annualized.
- German CPI: The Final German CPI for October was reported flat at 0.0% monthly and increased by 1.6% annualized. Economists predicted a flat reading of 0.0% monthly and an increase of 1.6% annualized. Forex traders can compare this to the previous German CPI for October which increased by 0.1% monthly and by 1.8% annualized.
- Italian GDP: The Preliminary Italian GDP for the third-quarter increased by 0.4% quarterly and by 1.8% annualized. Economists predicted an increase of 0.5% quarterly and of 1.7% annualized. Forex traders can compare this to the Italian GDP for the second-quarter which increased by 0.4% quarterly and by 1.5% annualized.
- Eurozone Industrial Production: Eurozone Industrial Production for September is predicted to decrease by 0.6% monthly and to increase by 3.2% annualized. Forex traders can compare this to Eurozone Industrial Production for August which increased by 1.4% monthly and by 3.8% annualized.
- German ZEW Survey: The German ZEW Survey Current Situation for November is predicted at 88.0 and the German ZEW Survey Economic Expectations Index at 19.5. Forex traders can compare this to the German ZEW Survey Current Situation for October which was reported at 87.0 and to the German ZEW Survey Economic Expectations Index which was reported at 17.6.
- Eurozone GDP: The preliminary Eurozone GDP for the third-quarter is predicted to increase by 0.6% quarterly and by 2.5% annualized. Forex traders can compare this to the Eurozone GDP for the second-quarter which increased by 0.6% quarterly and by 2.5% annualized.
Here are the key factors to keep in mind today for British Pound trades:
- UK CPI: The UK CPI for October is predicted to increase by 0.2% monthly and by 3.1% annualized. Forex traders can compare this to the UK CPI for September which increased by 0.3% monthly and by 3.0% annualized. The Core CPI for October is predicted to increase by 2.8% annualized. Forex traders can compare this to Core CPI for September which increased by 2.7% annualized.
- UK PPI: The UK PPI Input for October is predicted to increase by 0.8% monthly and by 4.7% annualized. Forex traders can compare this to the UK PPI Input for September which increased by 0.4% monthly and by 8.4% annualized. The UK PPI Output for October is predicted to increase by 0.3% monthly and by 2.9% annualized. Forex traders can compare this to the UK PPI Output for September which increased by 0.2% monthly and by 3.3% annualized. The UK PPI Core Output for October 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 September which was reported flat at 0.0% monthly and which increased by 2.5% annualized.
- UK RPI: The UK RPI for October is predicted to increase by 0.2% monthly and by 4.1% annualized. Forex traders can compare this to the UK RPI for September which increased by 0.1% monthly and by 3.9% annualized. The UK RPI Excluding Mortgage Interest Payments for October is predicted to increase by 4.2% annualized. Forex traders can compare this to the UK RPI Excluding Mortgage Interest Payments for September which increased by 4.1% annualized.
- UK House Price Index: The UK House Price Index for September is predicted to increase by 5.2% annualized. Forex traders can compare this to the UK House Price Index for August which increased by 5.0% annualized.
Should price action for the EURGBP remain inside the or breakdown below the 0.8910 to 0.8940 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.8925
- Take Profit Zone: 0.8735 – 0.8760
- Stop Loss Level: 0.9020
Should price action for the EURGBP breakout above 0.8940 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.8975
- Take Profit Zone: 0.9020 – 0.9050
- Stop Loss Level: 0.8940
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
