Here is the key factor to keep in mind today for Euro trades:
- Eurozone CPI and Eurozone Core CPI : The Eurozone CPI for June was reported flat at 0.0% monthly. Economists predicted a flat reading of 0.0% monthly. Forex traders can compare this to the Eurozone CPI for May which decreased by 0.1% monthly. The Final Eurozone CPI for June increased by 1.3% annualized and the Final Eurozone Core CPI increased by 1.2% annualized. Economists predicted an increase of 1.3% annualized and of 1.1% annualized. Forex traders can compare this to the previous Eurozone CPI for June which increased by 1.3% annualized and to the Eurozone Core CPI which increased by 1.0% annualized.
Here are the key factors to keep in mind today for New Zealand Dollar trades:
- New Zealand Performance of Services Index: The New Zealand Performance of Services Index for June was reported at 58.6. Forex traders can compare this to the New Zealand Performance of Services Index for May which was reported at 58.8.
- Chinese Industrial Production: Chinese Industrial Production for June increased by 7.6% annualized. Economists predicted an increase of 6.5% annualized. Forex traders can compare this to Chinese Industrial Production for May which increased by 6.5% annualized.
- Chinese Retail Sales: Chinese Retail Sales for June increased by 11.0% annualized. Economists predicted an increase of 10.6% annualized. Forex traders can compare this to Chinese Retail Sales for May which increased by 10.7% annualized.
- Chinese Fixed Assets ex Rural: Chinese Fixed Assets ex Rural for June increased by 8.6% annualized. Economists predicted an increase of 8.5% annualized. Forex traders can compare this to Chinese Fixed Assets ex Rural for May which increased by 8.6% annualized.
- Chinese GDP: The Chinese GDP for the second-quarter increased by 1.7% quarterly and by 6.9% annualized. Economists predicted an increase of 1.7% quarterly and of 6.8% annualized. Forex traders can compare this to the Chinese GDP for the first-quarter which increased by 1.3% quarterly and by 6.9% annualized.
Should price action for the EURNZD remain inside the or breakout above the 1.5600 to 1.5650 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.5625
- Take Profit Zone: 1.6000 – 1.6100
- Stop Loss Level: 1.5525
Should price action for the EURNZD breakdown below 1.5600 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.5575
- Take Profit Zone: 1.5225 – 1.5275
- Stop Loss Level: 1.5650
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
