Here are the key factors to keep in mind today for Euro trades:
- German Trade Balance & German Current Account Balance: The German Trade Balance for February was reported at a €18.4B. Economists predicted a figure of €20.0B. Forex traders can compare this to German Trade Balance for January which was reported at €17.4B. Exports decreased by 3.2% monthly and Imports decreased by 1.3% monthly. Economists predicted an increase of 0.2% monthly and of 0.5% monthly. Forex traders can compare this to Exports for January which decreased by 0.5% monthly and to Imports which decreased by 0.5% monthly. The German Current Account Balance for February was reported at a €20.7B. Economists predicted a figure of €22.6B. Forex traders can compare this to the German Current Account Balance for January which was reported at €22.0B.
- Eurozone Sentix Investor Confidence: Eurozone Sentix Investor Confidence for April was reported at 19.6. Economists predicted a figure of 20.8. Forex traders can compare this to Eurozone Sentix Investor Confidence for March which was reported at 24.0.
Here are the key factors to keep in mind today for Japanese Yen trades:
- Japanese Current Account Balance and Trade Balance: The Japanese Current Account Balance for February was reported at ¥2,076.0B. Economists predicted a figure of ¥2,196.0B. Forex traders can compare this to the Japanese Current Account Balance for January which was reported at ¥607.4B. The Japanese Adjusted Current Account Balance for February was reported at ¥1,024.1B. Economists predicted a figure of ¥1,390.2B. Forex traders can compare this to the Japanese Adjusted Current Account Balance for January which was reported at ¥2,022.6B. The Japanese Trade Balance for February was reported at ¥188.7B. Economists predicted a figure of ¥249.7B. Forex traders can compare this to the Japanese Trade Balance for January which was reported at -¥666.6B.
- Japanese Bankruptcies: Japanese Bankruptcies for March increased by 0.38% annualized. Forex traders can compare this to Japanese Bankruptcies for February which decreased by 10.31% annualized.
- Japanese Consumer Confidence: Japanese Consumer Confidence for March was reported at 44.3. Economists predicted a figure of 44.5. Forex traders can compare this to Japanese Consumer Confidence for February which was reported at 44.3.
Should price action for the EURJPY remain inside the or breakdown below the 131.100 to 131.800 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 131.500
- Take Profit Zone: 128.450 – 128.950
- Stop Loss Level: 132.450
Should price action for the EURJPY breakout above 131.800 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 132.000
- Take Profit Zone: 133.000 – 133.500
- Stop Loss Level: 131.500
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