Written by: PaxForex analytics dept - Monday, 17 September 2018
Here is the key factor to keep in mind today for Euro trades:
Eurozone Final CPI and Eurozone Final Core CPI: The Eurozone CPI for August is predicted to increase by 0.2% monthly. Forex traders can compare this to the Eurozone CPI for July which decreased by 0.3% monthly. The Final Eurozone CPI for August is predicted to increase by 2.0% annualized and the Final Eurozone Core CPI is predicted to increase by 1.0% annualized. Forex traders can compare this to the previous Eurozone CPI for August which increased by 2.1% annualized and to the previous Eurozone Core CPI which increased by 1.0% annualized.
Here is the key factor to keep in mind today for Swiss Franc trades:
Swiss Total Sight Deposits and Swiss Domestic Sight Deposits: Swiss Total Sight Deposits for the week of September 14th were reported at CHF577.1B and Swiss Domestic Sight Deposits were reported at CHF474.7B. Forex traders can compare this to Swiss Total Sight Deposits for the week of September 7th which were reported at CHF576.5B and to Swiss Domestic Sight Deposits which were reported at CHF475.7B.
Should price action for the EURCHF remain inside the or breakout above the 1.1215 to 1.1280 zone the following trade set-up is recommended:
Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 1.1245
Take Profit Zone: 1.1410 – 1.1450
Stop Loss Level: 1.1185
Should price action for the EURCHF breakdown below 1.1215 the following trade set-up is recommended:
Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 1.1195
Take Profit Zone: 1.1000 – 1.1050
Stop Loss Level: 1.1245
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