Forex traders can compare this to the Eurozone Core CPI for February, which increased by 0.1% monthly and 1.1% annualized. The Eurozone Harmonized Core CPI for March is predicted to increase by 0.8% monthly and 1.0% annualized. Forex traders can compare this to the Eurozone Harmonized Core CPI for February, which increased by 0.1% monthly and 1.2% annualized.
US Housing Starts for Mach are predicted at 1,613K starts, and Building Permits at 1,750K permits. Forex traders can compare this to US Housing Starts for February, reported at 1,421K starts, and to Building Permits, reported at 1,720K permits. Preliminary US Michigan Consumer Sentiment for April is predicted at 89.6. Forex traders can compare this to US Michigan Consumer Confidence for March, reported at 84.9. Preliminary Current Conditions for April are expected at 96.3, and Preliminary Expectations are predicted at 83.6. Forex traders can compare this to Current Conditions for March, reported at 93.0, and to Expectations, reported at 79.7.
The forecast for the EUR/USD remains bullish following a strong advance, but traders should expect a rise in volatility. With the Ichimoku Kinko Hyo descending, and the CCI pulling back below the 100 level, a brief decline in price action could precede more gains. After the ascending Tenkan-sen crossed above the Kijun-sen, which started to drift higher, bullish momentum increased. The CCI may extend its retreat before surging to a higher high.
Should price action for the EUR/USD remain inside the or breakout above the 1.1950 to 1.2000 zone, the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.1970
- Take Profit Zone: 1.2190 – 1.2245
- Stop Loss Level: 1.1895
Should price action for the EUR/USD breakdown below 1.1950, the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.1895
- Take Profit Zone: 1.1760 – 1.1795
- Stop Loss Level: 1.1950
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