Here are the key factors to keep in mind today for Euro trades:
- German Import Price Index: The German Import Price Index for February decreased by 0.6% monthly and by 0.6% annualized. Economists predicted a decrease of 0.3% monthly and of 0.3% annualized. Forex traders can compare this to the German Import Price Index for January which increased by 0.5% monthly and by 0.7% annualized.
- Eurozone Money Supply M3: Eurozone Money Supply M3 for February is predicted to increase by 4.6% annualized. Forex traders can compare this to Eurozone Money Supply M3 for January which increased by 4.6% annualized.
- Eurozone Confidence Data: Eurozone Economic Confidence for March is predicted at 113.3. Forex traders can compare this to Eurozone Economic Confidence for February which was reported at 114.1. Eurozone Industrial Confidence for March is predicted at 6.9. Forex traders can compare this to Eurozone Industrial Confidence for February which was reported at 8.0. Eurozone Services Confidence for March is predicted at 16.5. Forex traders can compare this to Eurozone Services Confidence for February which was reported at 17.5. Final Eurozone Consumer Confidence for March is predicted at 0.1. Forex traders can compare this to the first Eurozone Consumer Confidence for March which was reported at 0.1. The Eurozone Business Climate Indicator for March is predicted at 1.36. Forex traders can compare this to Eurozone Business Climate Indicator for February which was reported at 1.48.
Here are the key factors to keep in mind today for US Dollar trades:
- US S&P/Case-Shiller Composite 20: The US S&P/Case-Shiller Composite 20 for January is predicted to increase by 0.6% monthly and by 6.1% annualized. Forex traders can compare this to the US S&P/Case-Shiller Composite 20 for December which increased by 0.6% monthly and by 6.3% annualized.
- US Richmond Fed Manufacturing Index: The US Richmond Fed Manufacturing Index for March is predicted at 22. Forex traders can compare this to the US Richmond Fed Manufacturing Index for February which was reported at 28.
- US Consumer Confidence: US Consumer Confidence for March is predicted at 131.0. Forex traders can compare this to US Consumer Confidence for February which was reported at 130.8.
Should price action for the EURUSD remain inside the or breakout above the 1.2440 to 1.2475 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.2460
- Take Profit Zone: 1.2885 – 1.2955
- Stop Loss Level: 1.2390
Should price action for the EURUSD breakdown below 1.2440 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.2415
- Take Profit Zone: 1.2240 – 1.2285
- Stop Loss Level: 1.2475
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
