Here is the key factor to keep in mind today for Euro trades:
- German Import Price Index: The German Import Price Index for May is predicted to increase by 0.1% monthly and to decrease by 5.8% annualized. Forex traders can compare this to the German Import Price Index for April which increased by 0.1% monthly and by 6.6% annualized.
Here are the key factors to keep in mind today for US Dollar trades:
- US GDP: The US GDP for the first-quarter is predicted to increase by 1.0% annualized. Forex traders can compare this to the previous US GDP for the first-quarter which increased by 0.8% annualized. Personal Consumption is predicted to increase by 2.0% annualized. Forex traders can compare this to the previous Personal Consumption for the first-quarter which increased by 2.9% annualized. The GDP PPI for the first-quarter is predicted to increase by 0.6% annualized. Forex traders can compare this to the previous GDP PPI for the first-quarter which increased by 0.6% annualized. The Core PCE for the first-quarter is predicted to increase by 2.1% annualized. Forex traders can compare this to the previous Core PCE for the first-quarter which increased by 2.1% annualized.
- US S&P/Case-Shiller Composite 20: The US S&P/Case-Shiller Composite 20 for April is predicted to increase by 0.6% monthly and by 5.7% annualized. Forex traders can compare this to the US S&P/Case-Shiller Composite 20 for March which increased by 0.9% monthly and by 5.4% annualized.
- US Consumer Confidence: US Consumer Confidence for June is predicted at 93.4. Forex traders can compare this to US Consumer Confidence for May which was reported at 92.6.
- US Richmond Fed Manufacturing Index: The US Richmond Fed Manufacturing Index for June is predicted at 2. Forex traders can compare this to the US Richmond Fed Manufacturing Index for May which was reported at -1.
Should price action for the EURUSD remain inside the or breakout above the 1.1050 to 1.1100 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.1075
- Take Profit Zone: 1.1400 – 1.1425
- Stop Loss Level: 1.1000
Should price action for the EURUSD breakdown below 1.1050 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.1025
- Take Profit Zone: 1.0900 – 1.0950
- Stop Loss Level: 1.1075
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
