Here is the key factor to keep in mind today for Euro trades:
- EU 25 New Car Registrations: EU 25 New Car Registrations for December decreased by 4.9% monthly. Forex traders can compare this to EU 25 New Car Registrations for November which increased by 5.9% monthly.
- Eurozone Construction Output: Eurozone Construction Output for November increased by 0.5% monthly and by 2.7% annualized. Forex traders can compare this to Eurozone Construction Output for October which decreased by 0.3% monthly and which increased by 2.2% annualized.
- Eurozone CPI and Eurozone Core CPI: The Eurozone CPI for December increased by 0.4% monthly. Economists predicted an increase of 0.4% monthly. Forex traders can compare this to the Eurozone CPI for November which increased by 0.1% monthly. The Final Eurozone CPI for December increased by 1.4% annualized and the Eurozone Core CPI increased by 0.9% annualized. Economists predicted an increase of 1.4% annualized and of 0.9% annualized. Forex traders can compare this to the previous Eurozone CPI for November which increased by 1.5% annualized and to the Eurozone Core CPI which increased by 0.9% annualized.
Here are the key factors to keep in mind today for US Dollar trades:
- US Industrial Production and Manufacturing Production: US Industrial Production for December is predicted to increase by 0.4% monthly and Manufacturing Production is predicted to increase by 0.3% monthly. Forex traders can compare this to US Industrial Production for November which increased by 0.2% monthly and to Manufacturing Production which increased by 0.2% monthly.Capacity Utilization for December is predicted at 77.3%. Forex traders can compare this to Capacity Utilization for November which was reported at 77.1%.
- US NAHB Housing Market Index: The US NAHB Housing Market Index for January is predicted at 72. Forex traders can compare this to the US NAHB Housing Market Index for December which was reported at 74.
Should price action for the EURUSD remain inside the or breakout above the 1.2210 to 1.2270 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.2240
- Take Profit Zone: 1.2660 – 1.2750
- Stop Loss Level: 1.2190
Should price action for the EURUSD breakdown below 1.2210 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.2180
- Take Profit Zone: 1.1915 – 1.1960
- Stop Loss Level: 1.2230
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
