Here are the key factors to keep in mind today for Euro trades:
- German PPI: The German PPI for March is predicted to increase by 0.2% monthly and by 3.2% annualized. Forex traders can compare this to the German PPI for February which increased by 0.2% monthly and by 3.1% annualized.
- Advanced Eurozone Consumer Confidence: Advanced Eurozone Consumer Confidence for April is predicted at -4.8. Forex traders can compare this to the previous Eurozone Consumer Confidence for April which was reported at -5.0.
Here are the key factors to keep in mind today for US Dollar trades:
- US Initial Jobless Claims and Continuing Claims: US Initial Jobless Claims for the week of April 15th are predicted at 240K and US Continuing Claims for the week of April 8th are predicted at 2,024K. Forex traders can compare this to US Initial Jobless Claims for the week of April 8th which were reported at 234K and US Continuing Claims for the week of April 1st which were reported at 2,028K.
- US Philadelphia Fed Index: The US Philadelphia Fed Index for April is predicted at 25.8. Forex traders can compare this to the US Philadelphia Fed Index for March which was reported at 32.8.
- US Leading Indicators: US Leading Indicators for March are predicted to increase by 0.2% monthly. Forex traders can compare this to US Leading Indicators for February which increased by 0.6% monthly.
Should price action for the EURUSD remain inside the or breakout above the 1.0700 to 1.0750 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.0725
- Take Profit Zone: 1.1050 – 1.1125
- Stop Loss Level: 1.0575
Should price action for the EURUSD breakdown below 1.0700 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.0575
- Take Profit Zone: 1.0350 – 1.0500
- Stop Loss Level: 1.0650
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
