Here are the key factors to keep in mind today for Euro trades:
German Markit Construction PMI: The German Markit Construction PMI for May was reported at 53.9. Forex traders can compare this to the German Markit Construction PMI for April which was reported at 50.9.
Eurozone Retail PMI: The Eurozone Retail PMI for May was reported at 51.7. Forex traders can compare this to the Eurozone Retail PMI for April which was reported at 48.6. The German Retail PMI for May was reported at 55.5. Forex traders can compare this to the German Retail PMI for April which was reported at 51.0. The French Retail PMI for May was reported at 50.7. Forex traders can compare this to the French Retail PMI for April which was reported at 50.1. The Italian Retail PMI for May was reported at 47.3. Forex traders can compare this to the Italian Retail PMI for April which was reported at 42.7.
Here is the key factor to keep in mind today for Swiss Franc trades:
Swiss CPI: The Swiss CPI for May increased by 0.4% monthly and by 1.0% annualized. Economists predicted an increase of 0.3% monthly and of 0.9% annualized. Forex traders can compare this to the Swiss CPI for April which increased by 0.2% monthly and by 0.8% annualized. The Swiss EU Harmonized CPI for May increased by 0.4% monthly and by 1.0% annualized. Forex traders can compare this to the Swiss EU Harmonized CPI for April which increased by 0.2% monthly and by 0.4% annualized.
Should price action for the EURCHF remain inside the or breakout above the 1.1580 to 1.1650 zone the following trade set-up is recommended:
Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 1.1610
Take Profit Zone: 1.1950– 1.2000
Stop Loss Level: 1.1505
Should price action for the EURCHF breakdown below 1.1580 the following trade set-up is recommended:
Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 1.1565
Take Profit Zone: 1.1370 – 1.1425
Stop Loss Level: 1.1610