Here is the key factor to keep in mind today for Euro trades:
German IFO: The German IFO Business Climate Index for August is predicted at 95.0. Forex traders can compare this to the German IFO Business Climate Index for July which was reported at 95.7. The German IFO Current Assessment Index for August is predicted at 98.8. Forex traders can compare this to the German IFO Current Assessment Index for July which was reported at 99.4. The German IFO Expectations Index for August is predicted at 91.8. Forex traders can compare this to the German IFO Expectations Index for July which was reported at 92.2.
Here are the key factors to keep in mind today for Japanese Yen trades:
Japanese Leading Index and Japanese Coincident Index: The Final Japanese Leading Index for June was reported at 93.3 and the Final Japanese Coincident Index was reported at 100.4. Forex traders can compare this to the previous Japanese Leading Index for June which was reported at 93.3 and to the previous Japanese Coincident Index which was reported at 100.4.
Singapore Industrial Production: Singapore Industrial Production for July increased by 3.6% monthly and decreased by 0.4% annualized. Economists predicted a decrease of 1.8% and of 4.9%. Forex traders can compare this to Singapore Industrial Production for June which decreased by 0.3% monthly and by 8.1% annualized.
Should price action for the EURJPY remain inside the or breakout above the 117.000 to 117.750 zone the following trade set-up is recommended:
Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 117.400
Take Profit Zone: 121.350 – 122.300
Stop Loss Level: 116.550
Should price action for the EURJPY breakdown below 116.550 the following trade set-up is recommended:
Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 116.250
Take Profit Zone: 113.700 – 114.150
Stop Loss Level: 117.000
German IFO: The German IFO Business Climate Index for August is predicted at 95.0. Forex traders can compare this to the German IFO Business Climate Index for July which was reported at 95.7. The German IFO Current Assessment Index for August is predicted at 98.8. Forex traders can compare this to the German IFO Current Assessment Index for July which was reported at 99.4. The German IFO Expectations Index for August is predicted at 91.8. Forex traders can compare this to the German IFO Expectations Index for July which was reported at 92.2.
Here are the key factors to keep in mind today for Japanese Yen trades:
Japanese Leading Index and Japanese Coincident Index: The Final Japanese Leading Index for June was reported at 93.3 and the Final Japanese Coincident Index was reported at 100.4. Forex traders can compare this to the previous Japanese Leading Index for June which was reported at 93.3 and to the previous Japanese Coincident Index which was reported at 100.4.
Singapore Industrial Production: Singapore Industrial Production for July increased by 3.6% monthly and decreased by 0.4% annualized. Economists predicted a decrease of 1.8% and of 4.9%. Forex traders can compare this to Singapore Industrial Production for June which decreased by 0.3% monthly and by 8.1% annualized.
Should price action for the EURJPY remain inside the or breakout above the 117.000 to 117.750 zone the following trade set-up is recommended:
Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 117.400
Take Profit Zone: 121.350 – 122.300
Stop Loss Level: 116.550
Should price action for the EURJPY breakdown below 116.550 the following trade set-up is recommended:
Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 116.250
Take Profit Zone: 113.700 – 114.150
Stop Loss Level: 117.000