Here are the key factors to keep in mind today for Euro trades:
- Italian Markit/ADACI Manufacturing PMI: The Italian Markit/ADACI Manufacturing PMI for March is predicted at 47.5. Forex traders can compare this to the Italian Markit/ADACI Manufacturing PMI for February which was reported at 47.7.
- French Markit Manufacturing PMI: The Final French Markit Manufacturing PMI for March is predicted at 49.9. Forex traders can compare this to the previous French Markit Manufacturing PMI for March which was reported at 49.8.
- German Markit/BME Manufacturing PMI: The Final German Markit/BME Manufacturing PMI for March is predicted at 44.7. Forex traders can compare this to the previous German Markit/BME Manufacturing PMI for March which was reported at 44.7.
- Eurozone Markit Manufacturing PMI: The Final Eurozone Markit Manufacturing PMI PMI for March is predicted at 47.7. Forex traders can compare this to the previous Eurozone Markit Manufacturing PMI for March which was reported at 47.6.
- Eurozone Unemployment Rate: The Eurozone Unemployment Rate for February is predicted at 7.8%. Forex traders can compare this to the Eurozone Unemployment Rate for January which was reported at 7.8%.
- Eurozone CPI and Eurozone Core CPI: The Eurozone CPI for March is predicted to increase by 1.5% annualized and the Eurozone Core CPI is predicted to increase by 1.0% annualized. Forex traders can compare this to the Eurozone CPI for February which increased by 1.5% annualized and to the Eurozone Core CPI which increased by 1.0% annualized.
Here are the key factors to keep in mind today for Japanese Yen trades:
- Japanese Tankan Survey: The Tankan Large Manufacturers Index for the first-quarter was reported at 12. Economists predicted a figure of 13. Forex traders can compare this to the Tankan Large Manufacturers Index for the fourth-quarter which was reported at 19. The Tankan Large Manufacturers Outlook for the first-quarter was reported at 8. Economists predicted a figure of 12. Forex traders can compare this to the Tankan Large Manufacturers Outlook for the fourth-quarter which was reported at 15. The Tankan Large Non-Manufacturers Index for the first-quarter was reported at 21. Economists predicted a figure of 22. Forex traders can compare this to the Tankan Large Non-Manufacturers Index for the fourth-quarter which was reported at 24. The Tankan Large Non-Manufacturers Outlook for the first-quarter was reported at 20. Economists predicted a figure of 20. Forex traders can compare this to the Tankan Large Non-Manufacturers Outlook for the fourth-quarter which was reported at 20. The Tankan Small Manufacturers Index for the first-quarter was reported at 6. Economists predicted a figure of 10. Forex traders can compare this to the Tankan Small Manufacturers Index for the fourth-quarter which was reported at 14. The Tankan Small Manufacturers Outlook for the first-quarter was reported at -2. Economists predicted a figure of 6. Forex traders can compare this to the Tankan Small Manufacturers Outlook for the fourth-quarter which was reported at 8. The Tankan Small Non-Manufacturers Index for the first-quarter was reported at 12. Economists predicted a figure of 9. Forex traders can compare this to the Tankan Small Non-Manufacturers Index for the fourth-quarter which was reported at 11. The Tankan Small Non-Manufacturers Outlook for the first-quarter was reported at 5. Economists predicted a figure of 5. Forex traders can compare this to the Tankan Small Non-Manufacturers Outlook for the fourth-quarter which was reported at 5. The Japanese Tankan Large All Industry Capex Index for the first-quarter increased by 1.2% quarterly. Economists predicted an increase of 0.7% quarterly. Forex traders can compare this to the Japanese Tankan Large All Industry Capex Index for the fourth-quarter which increased by 14.3% quarterly.
- Japanese Loans & Discounts: Japanese Loans & Discounts for February increased by 3.25% annualized. Forex traders can compare this to Japanese Loans & Discounts for January which increased by 3.18%.
- Japanese Nikkei Manufacturing PMI: The Final Japanese Nikkei Manufacturing PMI for March was reported at 49.2. Forex traders can compare this to the previous Japanese Nikkei Manufacturing PMI March which was reported at 48.9.
Should price action for the EURJPY remain inside the or breakout above the 124.300 to 125.000 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 124.800
- Take Profit Zone: 126.900 – 127.500
- Stop Loss Level: 123.650
Should price action for the EURJPY breakdown below 124.300 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 124.150
- Take Profit Zone: 122.600 – 123.400
- Stop Loss Level: 124.800
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