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Euraudbreakout

EURAUD Fundamental Analysis – September 4th 2019Here are the key factors to keep in mind today for Euro trades: Spanish Services PMI: The Spanish Markit Services PMI for August is predicted at 53.0. Forex traders can compare this to the Spanish Markit Services PMI for July which was reported at 52.9. Italian Services PMI and Composite PMI: The Italian Markit Services PMI for August is predicted at 51.6. Forex traders can compare this to the Italian Markit Services PMI for July which was reported at 51.7. The Italian Markit Composite PMI for August is predicted at 50.6. Forex traders can compare this to the Italian Markit Composite PMI for July which was reported at 51.0. French Services PMI and Composite PMI: The Final French Markit Services PMI for August is predicted at 53.3 Forex traders can compare this to the previous French Markit Services PMI for for August which was reported at 53.3. The Final French Markit Composite PMI for August is predicted at 52.7. Forex traders can compare this to the previous French Markit Composite PMI for for August which was reported at 52.7. German Services PMI and Composite PMI: The Final German Markit Services PMI for August is predicted at 54.4. Forex traders can compare this to the previous German Markit Services PMI for for August which was reported at 54.4. The Final German Markit/BME Composite PMI for August is predicted at 51.4. Forex traders can compare this to the previous German Markit/BME Composite PMI for for August which was reported at 51.4. Eurozone Services PMI and Composite PMI: The Final Eurozone Markit Services PMI for August is predicted at 53.4. Forex traders can compare this to the previous Eurozone Markit Services PMI for for August which was reported at 53.4. The Final Eurozone Markit Composite PMI for August is predicted at 51.8. Forex traders can compare this to the previous Eurozone Markit Composite PMI for for August which was reported at 51.8. Eurozone Retail Sales: Eurozone Retail Sales for July are predicted to decrease by 0.6% monthly and to increase by 2.0% annualized. Forex traders can compare this to Eurozone Retail Sales for June which increased by 1.1% monthly and by 2.6% annualized. Here are the key factors to keep in mind today for Australian Dollar trades: Australian AiG Performance of Services Index: The Australian AiG Performance of Services Index for August was reported at 51.4. Forex traders can compare this to the Australian AiG Performance of Services Index for July which was reported at 43.9. Australian CBA Services PMI and CBA Composite PMI: The Final Australian CBA Services PMI for August was reported at 49.1. Forex traders can compare this to the previous Australian CBA Services PMI for August which was reported at 49.2. The Final Australian CBA Composite PMI for August was reported at 49.3. Forex traders can compare this to the previous Australian CBA Composite PMI for for August which was reported at 49.5. Hong Kong Manufacturing PMI: The Hong Kong Manufacturing PMI for August was reported at 40.8. Forex traders can compare this to the Hong Kong Manufacturing PMI for July which was reported at 43.8. Australian GDP: The Australian GDP for the second-quarter increased by 0.5% quarterly and by 1.4% annualized. Economists predicted an increase of 0.5% quarterly and of 1.4% annualized. Forex traders can compare this to the Australian GDP for the first-quarter which increased by 0.5% quarterly and by 1.7% annualized. Capital Expenditure for the second-quarter decreased by 1.7% quarterly, the Chain Price Index increased by 1.2% quarterly and Final Consumption increased by 1.0% quarterly. Forex traders can compare this to Capital Expenditure for the first-quarter which decreased by 0.7% quarterly, to the Chain Price Index which increased by 1.3% quarterly and to Final Consumption which increased by 0.4% quarterly. Chinese Caixin Services PMI and Chinese Caixin Composite PMI: The Chinese Caixin Services PMI for August was reported at 52.1. Economists predicted a figure of 51.7. Forex traders can compare this to the Chinese Caixin Services PMI for July which was reported at 51.6. The Chinese Caixin Composite PMI for August was reported at 51.6. Forex traders can compare this to the Chinese Caixin Composite PMI for for July which was reported at 50.9. Should price action for the EURAUD remain inside the or breakdown below the 1.6175 to 1.6230 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 1.6200 Take Profit Zone: 1.5895 – 1.5945 Stop Loss Level: 1.6310 Should price action for the EURAUD breakout above 1.6230 the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 1.6275 Take Profit Zone: 1.6445 – 1.6500 Stop Loss Level: 1.6230
NYSE:WMT
by PaxForex
1
EURAUD potential reversal! EURAUD expected to rise up to 1st resistance at 1.61451 where it could potentially react off and drop down to 1st support at 1.60992. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Short
by Pepperstone