Here are the key factors to keep in mind today for Euro trades:
- Eurozone Trade Balance: The Eurozone Trade Balance for May was reported at €24.6B and the Seasonally Adjusted Eurozone Trade Balance at €24.5B. Economists predicted a figure of €25.0B and €25.0B. Forex traders can compare this to the Eurozone Trade Balance for April which was reported at €27.5B and to the Seasonally Adjusted Eurozone Trade Balance which was reported at €25.4B.
- Eurozone CPI: The Eurozone CPI for June increased by 0.2% monthly. Economists predicted an increase of 0.2% monthly. Forex traders can compare this to the Eurozone CPI for May which increased by 0.4% monthly. The Final Eurozone CPI for June increased by 0.1% annualized and the Core CPI increased by 0.9% annualized. Economists predicted an increase of 0.1% annualized and of 0.9% annualized. Forex traders can compare this to the first Eurozone CPI for June which increased by 0.1% annualized and to the first Core CPI which increased by 0.9% annualized.
Here are the key factors to keep in mind today for US Dollar trades:
- US Advanced Retail Sales: US Advanced Retail Sales for June are predicted to increase by 0.1% monthly and Retail Sales Less Autos are predicted to increase by 0.4% monthly. Forex traders can compare this to US Advanced Retail Sales for May which increased by 0.5% monthly and to Retail Sales Less Autos which increased by 0.4% monthly. Retail Sales Less Autos and Gas for June are predicted to increase by 0.3% monthly and Retail Sales Control Group are predicted to increase by 0.3% monthly. Forex traders can compare this to Retail Sales Less Autos and Gas for May which increased by 0.3% monthly and to Retail Sales Control Group which increased by 0.4% monthly.
- US CPI and Core CPI: The US CPI for June is predicted to increase by 0.3% monthly and by 1.1% annualized. Forex traders can compare this to the US CPI for May which increased by 0.2% monthly by 1.0% annualized. The US Core CPI for June is predicted to increase by 0.2% monthly and by 2.2% annualized. Forex traders can compare this to the US Core CPI for May which increased by 0.2% monthly by 2.2% annualized.
- US Empire Manufacturing Index: The US Empire Manufacturing Index for July is predicted at 5.00. Forex traders can compare this to the US Empire Manufacturing Index for June which was reported at 6.01.
- US Industrial Production and Manufacturing Production: US Industrial Production for June is predicted to increase by 0.2% monthly and Manufacturing Production is predicted to increase by 0.3% monthly. Forex traders can compare this to US Industrial Production for May which decreased by 0.4% monthly and Manufacturing Production which decreased by 0.4% monthly. Capacity Utilization for June is predicted at 75.1%. Forex traders can compare this to Capacity Utilization for May which was reported at 74.9%.
Should price action for the EURUSD remain inside the or breakout above the 1.1125to 1.1175 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.1150
- Take Profit Zone: 1.1525 – 1.1575
- Stop Loss Level: 1.1075
Should price action for the EURUSD breakdown below 1.1125 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.1075
- Take Profit Zone: 1.0775– 1.0825
- Stop Loss Level: 1.1125
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
