Here are the key factors to keep in mind today for Euro trades:
- German Import Price Index: The German Import Price Index for July decreased by 0.2% monthly and increased by 5.0% annualized. Economists predicted a flat reading of 0.0% monthly and an increase of 5.2% annualized. Forex traders can compare this to the German Import Price Index for June which increased by 0.5% monthly and by 4.8% annualized.
- German Unemployment Change and German Unemployment Rate: The German Unemployment Change for August is predicted at -8K and the German Unemployment Rate at 5.2%. Forex traders can compare this to the German Unemployment Change for July which was reported at -6K and to the German Unemployment Rate which was reported at 5.2%.
- Eurozone Confidence Data: Eurozone Economic Confidence for August is predicted at 111.9. Forex traders can compare this to Eurozone Economic Confidence for July which was reported at 112.1. Eurozone Industrial Confidence for August is predicted at 5.5. Forex traders can compare this to Eurozone Industrial Confidence for July which was reported at 5.8. Eurozone Services Confidence for August is predicted at 15.2. Forex traders can compare this to Eurozone Services Confidence for July which was reported at 15.3. Final Eurozone Consumer Confidence for August is predicted at -1.9. Forex traders can compare this to the previous Eurozone Consumer Confidence for August which was reported at -1.9. The Eurozone Business Climate Indicator for August is predicted at 1.26. Forex traders can compare this to Eurozone Business Climate Indicator for July which was reported at 1.29.
- Preliminary German CPI: The Preliminary German CPI for August is predicted to increase by 0.1% monthly and by 2.0% annualized. Forex traders can compare this to the German CPI for July which increased by 0.3% monthly and by 2.0% annualized.
Here are the key factors to keep in mind today for Japanese Yen trades:
- Japanese Buying Foreign Bonds and Japanese Buying Foreign Stocks/Foreign Buying Japanese Bonds and Foreigners Buying Japanese Stocks: Japanese Buying Foreign Bonds for August 24th was reported at ¥235.5B and Japanese Buying Foreign Stocks was reported at -¥60.9B. Forex traders can compare this to Japanese Buying Foreign Bonds for August 17th which was reported at -¥1,929.4B and to Japanese Buying Foreign Stocks which was reported at ¥264.4B. Foreign Buying Japanese Bonds for August 24th was reported at -¥14.5B and Foreigners Buying Japanese Stocks was reported at -¥334.9B. Forex traders can compare this to Foreign Buying Japanese Bonds for August 17th which was reported at -¥729.6B and to Foreigners Buying Japanese Stocks which was reported at -¥510.6B.
- Japanese Retail Trade Data: Japanese Retail Trade for July increased by 0.1% monthly and by 1.5% annualized. Economists predicted an increase of 0.2% and of 1.2%. Forex traders can compare this to Japanese Retail Trade for June which increased by 1.5% monthly and by 1.8% annualized. Large Retailer’s Sales for July decreased by 1.6% monthly. Economists predicted a decrease of 0.7% monthly. Forex traders can compare this to Large Retailer’s Sales for June which increased by 1.5% monthly.
- Japanese Loans & Discounts: Japanese Loans & Discounts for July increased by 3.18% annualized. Forex traders can compare this to Japanese Loans & Discounts for June which increased by 3.17%.
Should price action for the EURJPY remain inside the or breakdown below the 130.450 to 131.100 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 130.750
- Take Profit Zone: 124.600 – 126.000
- Stop Loss Level: 132.000
Should price action for the EURJPY breakout above 131.100 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 131.350
- Take Profit Zone: 134.400 – 134.800
- Stop Loss Level: 130.750
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