Here is the key factor to keep in mind today for Euro trades:
- German GfK Consumer Confidence Survey: The German GfK Consumer Confidence Survey for March was reported at 10.8. Economists predicted a figure of 10.8. Forex traders can compare this to the German GfK Consumer Confidence Survey for February which was reported at 10.8.
Here are the key factors to keep in mind today for US Dollar trades:
- US Housing Starts and Building Permits: US Housing Starts for December are predicted to decrease by 0.5% monthly to 1,250K starts and Building Permits are predicted to decrease by 2.8% monthly to 1,290K permits. Forex traders can compare this to US Housing Starts for November which increased by 3.2% monthly to 1,256K starts and to Building Permits which increased by 5.0% monthly to 1,328K permits.
- US House Price Index: The US House Price Index for December is predicted to increase by 0.4% monthly. Forex traders can compare this to US House Price Index for November which increased by 0.4% monthly.
- US S&P/Case-Shiller Composite 20: The US S&P/Case-Shiller Composite 20 for December is predicted to increase by 0.30% monthly and by 4.50% annualized. Forex traders can compare this to the US S&P/Case-Shiller Composite 20 for November which increased by 0.30% monthly and by 4.68% annualized.
- US Richmond Fed Manufacturing Index: The US Richmond Fed Manufacturing Index for February is predicted at 6. Forex traders can compare this to the US Richmond Fed Manufacturing Index for January which was reported at -2.
- US Consumer Confidence: US Consumer Confidence for February is predicted at 124.1. Forex traders can compare this to US Consumer Confidence for January which was reported at 120.2.
Should price action for the EURUSD remain inside the or breakout above the 1.1340 to 1.1365 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.1355
- Take Profit Zone: 1.1515 – 1.1570
- Stop Loss Level: 1.1315
Should price action for the EURUSD breakdown below 1.1340 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.1325
- Take Profit Zone: 1.1210 – 1.1235
- Stop Loss Level: 1.1355
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
