EURNZD Fundamental Analysis – October 14th 2019
Here are the key factors to keep in mind today for Euro trades:
German Wholesale Price Index: The German Wholesale Price Index for September decreased by 0.4% monthly and by 1.9% annualized. Forex traders can compare this to the German Wholesale Price Index for August which decreased by 0.8% monthly and by 1.1% annualized.
Eurozone Industrial Production: Eurozone Industrial Production for August is predicted to increase by 0.3% monthly and to decrease by 2.5% annualized. Forex traders can compare this to Eurozone Industrial Production for July which decreased by 0.4% monthly and by 2.0% annualized.
Here are the key factors to keep in mind today for New Zealand Dollar trades:
New Zealand Performance of Services Index: The New Zealand Performance of Services Index for September was reported at 54.4. Forex traders can compare this to the New Zealand Performance of Services Index for August which was reported at 54.6.
Chinese Trade Balance: The Chinese Trade Balance for September was reported at 39.65B. Economists predicted a figure of 34.75B. Forex traders can compare this to the Chinese Trade Balance for August which was reported at 34.83B. Exports for September decreased by 3.2% annualized and Imports decreased by 8.5% annualized. Economists predicted a decrease of 2.8% and a decrease of 6.0%. Forex traders can compare this to Exports for August which decreased by 1.0% annualized and to Imports which decreased by 5.6% annualized.
Chinese New Yuan Loans: Chinese New Yuan Loans for September are predicted at CNY1,360.0B. Forex traders can compare this to Chinese New Yuan Loans for August which were reported at CNY1,210.0B.
Chinese Aggregate Financing: Chinese Aggregate Financing for September are predicted at CNY1,900.0B. Forex traders can compare this to Chinese Aggregate Financing for August which was reported at CNY1,980.0B.
Should price action for the EURNZD remain inside the or breakdown below the 1.7455 to 1.7545 zone the following trade set-up is recommended:
Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 1.7500
Take Profit Zone: 1.7000 – 1.7100
Stop Loss Level: 1.7615
Should price action for the EURNZD breakout above 1.7545 the following trade set-up is recommended:
Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 1.7615
Take Profit Zone: 1.7730 – 1.7810
Stop Loss Level: 1.7545
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German Wholesale Price Index: The German Wholesale Price Index for September decreased by 0.4% monthly and by 1.9% annualized. Forex traders can compare this to the German Wholesale Price Index for August which decreased by 0.8% monthly and by 1.1% annualized.
Eurozone Industrial Production: Eurozone Industrial Production for August is predicted to increase by 0.3% monthly and to decrease by 2.5% annualized. Forex traders can compare this to Eurozone Industrial Production for July which decreased by 0.4% monthly and by 2.0% annualized.
Here are the key factors to keep in mind today for New Zealand Dollar trades:
New Zealand Performance of Services Index: The New Zealand Performance of Services Index for September was reported at 54.4. Forex traders can compare this to the New Zealand Performance of Services Index for August which was reported at 54.6.
Chinese Trade Balance: The Chinese Trade Balance for September was reported at 39.65B. Economists predicted a figure of 34.75B. Forex traders can compare this to the Chinese Trade Balance for August which was reported at 34.83B. Exports for September decreased by 3.2% annualized and Imports decreased by 8.5% annualized. Economists predicted a decrease of 2.8% and a decrease of 6.0%. Forex traders can compare this to Exports for August which decreased by 1.0% annualized and to Imports which decreased by 5.6% annualized.
Chinese New Yuan Loans: Chinese New Yuan Loans for September are predicted at CNY1,360.0B. Forex traders can compare this to Chinese New Yuan Loans for August which were reported at CNY1,210.0B.
Chinese Aggregate Financing: Chinese Aggregate Financing for September are predicted at CNY1,900.0B. Forex traders can compare this to Chinese Aggregate Financing for August which was reported at CNY1,980.0B.
Should price action for the EURNZD remain inside the or breakdown below the 1.7455 to 1.7545 zone the following trade set-up is recommended:
Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 1.7500
Take Profit Zone: 1.7000 – 1.7100
Stop Loss Level: 1.7615
Should price action for the EURNZD breakout above 1.7545 the following trade set-up is recommended:
Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 1.7615
Take Profit Zone: 1.7730 – 1.7810
Stop Loss Level: 1.7545
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio. Forex trading for beginners often poses a tremendous challenge, take a look how PaxForex ensures that you are on the right track from your first trade!
WHY TRADE WITH PAXFOREX?
We are one of the fastest growing Forex Brokers in the Market. Trade with PaxForex to get the full Forex Trading experience which is based on...
The Reliability on all Assets in the Market
Trusted Worldwide for over a Decade
Live Multi-Lingual Online Support 24/5
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