Here is the key factor to keep in mind today for British Pound trades:
- UK Retail Sales: UK Retail Sales for March are predicted to decrease by 0.3% monthly and to increase by 4.0% annualized. Forex traders can compare this to UK Retail Sales for February which increased by 0.2% monthly and by 3.8% annualized. UK Retail Sales Including Auto and Fuel for March are predicted to decrease by 0.4% monthly and to increase by 4.6% annualized. Forex traders can compare this to UK Retail Sales Including Auto and Fuel for February which increased by 0.4% monthly and by 4.0% annualized.
Here are the key factors to keep in mind today for Australian Dollar trades:
- Australian NAB Business Confidence: Australian NAB Business Confidence for the first-quarter was reported at -1. Forex traders can compare this to Australian NAB Business Confidence for the fourth-quarter which was reported at 1.
- Australian Employment Report: The Australian Employment Change for March was reported at 25.7K. Economists predicted a figure of 15.0K. Forex traders can compare this to the Australian Employment Change for February which was reported at 10.7K. The Unemployment Rate for March was reported at 5.0%. Economists predicted a reading of 5.0%. Forex traders can compare this to the Unemployment Rate for February which was reported at 4.9%. 48.3K Full-Time Positions were created and 22.6K Part-Time Positions were lost in March. Forex traders can compare this to the loss of 1.7K Full-Time Positions and to the creation of 12.4K Part-Time Positions which were reported in February. The Labor Force Participation Rate for March was reported at 65.7%. Economists predicted a reading of 65.6%. Forex traders can compare this to the Labor Force Participation Rate for February which was reported at 65.6%.
- RBA FX Transactions: RBA FX Transactions for March were reported at A$1,182M. Forex traders can compare this to RBA FX Transactions for February which were reported at A$432. RBA FX Government Transactions for March were reported at -A$1,261M and RBA FX Other Transactions were reported at A$2,276M. Forex traders can compare this to RBA FX Government Transactions for February which were reported at -A$517 and to RBA FX Other Transactions which were reported at -A$1,103M.
Should price action for the GBPAUD remain inside the or breakout above the 1.8100 to 1.8230 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.8150
- Take Profit Zone: 1.8520 – 1.8945
- Stop Loss Level: 1.7990
Should price action for the GBPAUD breakdown below 1.8100 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.8040
- Take Profit Zone: 1.7735 – 1.7870
- Stop Loss Level: 1.8100
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
