Here are the key factors to keep in mind today for Euro trades:
- German Retail Sales: German Retail Sales for November increased by 1.4% monthly and by 1.1% annualized. Economists predicted an increase of 0.4% monthly and a decrease of 0.4% annualized. Forex traders can compare this to German Retail Sales for October which decreased by 0.1% monthly and which increased by 5.0% annualized.
- German Factory Orders: German Factory Orders for November decreased by 0.1% monthly and by 4.3% annualized. Economists predicted a decrease of 0.1% monthly and of 2.7% annualized. Forex traders can compare this to German Factory Orders for October which increased by 0.2% monthly and decreased by 2.7% annualized.
- German Markit Construction PMI: The German Markit Construction PMI for December was reported at 53.3. Forex traders can compare this to the German Markit Construction PMI for November which was reported at 51.3.
- Eurozone Sentix Investor Confidence: Eurozone Sentix Investor Confidence for January was reported at -1.5. Economists predicted a figure of -2.0. Forex traders can compare this to Eurozone Sentix Investor Confidence for December which was reported at -0.3.
- Eurozone Retail Sales: Eurozone Retail Sales for November increased by 0.6% monthly and by 1.1% annualized. Economists predicted an increase of 0.2% monthly and of 0.4% annualized. Forex traders can compare this to Eurozone Retail Sales for October which increased by 0.6% monthly and by 2.3% annualized.
Here are the key factors to keep in mind today for Japanese Yen trades:
- Japanese Loans & Discounts: Japanese Loans & Discounts for November increased by 3.66% annualized. Forex traders can compare this to Japanese Loans & Discounts for October which increased by 3.30%.
- Japanese Monetary Base and Monetary Base end of Period: The Japanese Monetary Base for December increased by 4.8% annualized and the Monetary Base end of Period was reported at ¥504.2T. Economists predicted a figure of 5.8% and of ¥505.8T. Forex traders can compare this to the Japanese Monetary Base for November which increased by 6.1% annualized and to the Monetary Base end of Period which was reported at ¥501.6T.
- Japanese Nikkei Services PMI and Composite PMI: The Japanese Nikkei Services PMI for December was reported at 51.0. Forex traders can compare this to the Japanese Nikkei Services PMI for for November which was reported at 52.0. The Japanese Nikkei Composite PMI for December was reported at 52.4. Forex traders can compare this to the Japanese Nikkei Composite PMI for for November which was reported at 52.3.
- Japanese Vehicle Sales: Japanese Vehicle Sales for December decreased by 4.4% annualized. Forex traders can compare this to Japanese Vehicle Sales for November which increased by 8.3% annualized.
Should price action for the EURJPY remain inside the or breakout above the 123.400 to 124.900 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 124.000
- Take Profit Zone: 126.700 – 127.000
- Stop Loss Level: 122.650
Should price action for the EURJPY breakdown below 123.400 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 122.800
- Take Profit Zone: 120.000 – 121.000
- Stop Loss Level: 124.000
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