Here are the key factors to keep in mind today for Euro trades:

• Italian Services PMI and Composite PMI: The Italian Markit Services PMI for April is predicted at 51.8. Forex traders can compare this to the Italian Markit Services PMI for March which was reported at 53.1. The Italian Markit Composite PMI for April is predicted at 50.6. Forex traders can compare this to the Italian Markit Composite PMI for March which was reported at 51.5.
• French Services PMI and Composite PMI: The Final French Markit Services PMI for April is predicted at 50.5 Forex traders can compare this to the previous French Markit Services PMI for for April which was reported at 50.5. The Final French Markit Composite PMI for April is predicted at 50.0. Forex traders can compare this to the previous French Markit Composite PMI for for April which was reported at 50.0.
• German Services PMI and Composite PMI: The Final German Markit Services PMI for April is predicted at 55.6. Forex traders can compare this to the previous German Markit Services PMI for for April which was reported at 55.6. The Final German Markit/BME Composite PMI for April is predicted at 52.1. Forex traders can compare this to the previous German Markit/BME Composite PMI for for April which was reported at 52.1.
• Eurozone Services PMI and Composite PMI: The Final Eurozone Markit Services PMI for April is predicted at 52.5. Forex traders can compare this to the previous Eurozone Markit Services PMI for for April which was reported at 52.5. The Final Eurozone Markit Composite PMI for April is predicted at 51.3. Forex traders can compare this to the previous Eurozone Markit Composite PMI for for April which was reported at 51.3.
• Eurozone Sentix Investor Confidence: Eurozone Sentix Investor Confidence for May is predicted at 1.1. Forex traders can compare this to Eurozone Sentix Investor Confidence for April which was reported at -0.3.
• Eurozone Retail Sales: Eurozone Retail Sales for March are predicted to decrease by 0.1% monthly and to increase by 1.6% annualized. Forex traders can compare this to Eurozone Retail Sales for February which increased by 0.4% monthly and by 2.8% annualized.

Here are the key factors to keep in mind today for Australian Dollar trades:

• Australian TD Securities Inflation: Australian TD Securities Inflation for April increased by 0.2% monthly and by 1.8% annualized. Forex traders can compare this to Australian TD Securities Inflation for March which increased by 0.4% monthly and by 2.1% annualized.
• Australian ANZ Job Advertisements: Australian ANZ Job Advertisements for April decreased by 0.1% monthly. Forex traders can compare this to Australian ANZ Job Advertisements for Match which decreased by 1.7% monthly.
• Chinese Caixin Services PMI and Chinese Caixin Composite PMI: The Chinese Caixin Services PMI for April was reported at 54.5. Economists predicted a figure of 54.2. Forex traders can compare this to the Chinese Caixin Services PMI for March which was reported at 54.4. The Chinese Caixin Composite PMI for April was reported at 52.7. Forex traders can compare this to the Chinese Caixin Composite PMI for for March which was reported at 52.9.

Should price action for the EURAUD remain inside the or breakdown below the 1.5990 to 1.6060 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.6020
• Take Profit Zone: 1.5685 – 1.5745
• Stop Loss Level: 1.6120

Should price action for the EURAUD breakout above 1.6060 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.6100
• Take Profit Zone: 1.6220 – 1.6355
• Stop Loss Level: 1.6020

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