Here is the key factor to keep in mind today for Euro trades:
- Eurozone Final CPI: The Eurozone CPI for April is predicted to increase by 0.7% monthly. Forex traders can compare this to the Eurozone CPI for March which increased by 1.0% monthly. The Final Eurozone CPI for April is predicted to increase by 1.7% annualized and the Final Eurozone Core CPI is predicted to increase by 1.2% annualized. Forex traders can compare this to the previous Eurozone CPI for April which increased by 1.4% annualized and to the previous Eurozone Core CPI which increased by 1.2% annualized.
Here are the key factors to keep in mind today for New Zealand Dollar trades:
- New Zealand Business Manufacturing PMI: The New Zealand Business Manufacturing PMI for April was reported at 53.0. Forex traders can compare this to the New Zealand Business Manufacturing PMI for March which was reported at 52.0.
- New Zealand PPI Input/Output: The New Zealand PPI Input for the first-quarter decreased by 0.9% quarterly and the New Zealand PPI Output decreased by 0.5% quarterly. Forex traders can compare this to the New Zealand PPI Input for the fourth-quarter which increased by 1.6% quarterly and to the New Zealand PPI Output which increased by 0.7% quarterly.
Should price action for the EURNZD remain inside the or breakdown below the 1.7030 to 1.7145 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.7090
- Take Profit Zone: 1.6690 – 1.6785
- Stop Loss Level: 1.7200
Should price action for the EURNZD breakout above 1.7145 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.7165
- Take Profit Zone: 1.7265 – 1.7355
- Stop Loss Level: 1.7090
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
