Here are the key factors to keep in mind today for Euro trades:
- French Services PMI and Composite PMI: The Final French Markit Services PMI for November is predicted at 52.6. Forex traders can compare this to the previous French Markit Services PMI for for November which was reported at 52.6. The Final French Markit Composite PMI for November is predicted at 52.3. Forex traders can compare this to the previous French Markit Composite PMI for for November which was reported at 52.3.
- German Services PMI and Composite PMI: The Final German Markit Services PMI for November is predicted at 55.0. Forex traders can compare this to the previous German Markit Services PMI for for November which was reported at 55.0. The Final German Markit/BME Composite PMI for November is predicted at 54.9. Forex traders can compare this to the previous German Markit/BME Composite PMI for for November which was reported at 54.9.
- Eurozone Services PMI and Composite PMI: The Final Eurozone Markit Services PMI for November is predicted at 54.1. Forex traders can compare this to the previous Eurozone Markit Services PMI for for November which was reported at 54.1. The Final Eurozone Markit Composite PMI for November is predicted at 54.1. Forex traders can compare this to the previous Eurozone Markit Composite PMI for for November which was reported at 54.1.
- Eurozone Retail Sales: Eurozone Retail Sales for October are predicted to increase by 0.8% monthly and by 1.7% annualized. Forex traders can compare this to Eurozone Retail Sales for September which decreased by 0.2% monthly and which increase by 1.1% annualized.
Here are the key factors to keep in mind today for Japanese Yen trades:
- Japanese Nikkei Services PMI and Composite PMI: The Japanese Nikkei Services PMI for November was reported at 51.8. Forex traders can compare this to the Japanese Nikkei Services PMI for for October which was reported at 50.5. The Japanese Nikkei Composite PMI for November was reported at 52.0. Forex traders can compare this to the Japanese Nikkei Composite PMI for for October which was reported at 51.3.
- Japanese Consumer Confidence: Japanese Consumer Confidence for November was reported at 40.9. Forex traders can compare this to Japanese Consumer Confidence for October which was reported at 42.3.
Should price action for the EURJPY remain inside the or breakdown below the 120.750 to 121.250 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 121.000
- Take Profit Zone: 115.750 – 116.250
- Stop Loss Level: 123.000
Should price action for the EURJPY breakout above 121.250 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 121.750
- Take Profit Zone: 123.000 – 123.500
- Stop Loss Level: 120.750
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