Here are the key factors to keep in mind today for Euro trades:
- German Wholesale Price Index: The German Wholesale Price Index for November increased by 0.5% monthly and by 3.3% annualized. Forex traders can compare this to the German Wholesale Price Index for October which was reported flat at 0.0% monthly and which increased by 3.0% annualized.
- German CPI: The Final German CPI for November increased by 0.3% monthly and by 1.8% annualized. Economists predicted an increase of 0.3% monthly and of 1.8% annualized. Forex traders can compare this to the previous German CPI for November which increased by 0.3% monthly and by 1.8% annualized.
- Eurozone Industrial Production: Eurozone Industrial Production for October is predicted to increase by 0.1% monthly and by 3.3% annualized. Forex traders can compare this to Eurozone Industrial Production for September which decreased by 0.6% monthly and which increased by 3.3% annualized.
- Eurozone Employment: Eurozone Employment for the third-quarter is predicted to increase by 0.4% quarterly and by 1.6% annualized. Forex traders can compare this to Eurozone Employment for the second-quarter which increased by 0.4% quarterly and by 1.6% annualized.
Here are the key factors to keep in mind today for US Dollar trades:
- US CPI and Core CPI: The US CPI for November is predicted to increase by 0.4% monthly and by 2.2% annualized. Forex traders can compare this to the US CPI for October which increased by 0.1% monthly and by 2.0% annualized. The US Core CPI for November is predicted to increase by 0.2% monthly and by 1.8% annualized. Forex traders can compare this to the US Core CPI for October which increased by 0.2% monthly by 1.8% annualized.
- US FOMC Interest Rate Decision: The US FOMC Interest Rate Decision is predicted to show upper bound interest rates at 1.50% and lower bound interest rates at 1.25%. Forex traders can compare this to the previous US FOMC Interest Rate Decision which showed upper bound interest rates at 1.25% and lower bound interest rates at 1.00%.
Should price action for the EURUSD remain inside the or breakout above the 1.1730 to 1.1760 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.1745
- Take Profit Zone: 1.1960 – 1.2000
- Stop Loss Level: 1.1670
Should price action for the EURUSD breakdown below 1.1730 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.1710
- Take Profit Zone: 1.1555 – 1.1600
- Stop Loss Level: 1.1760
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
