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

• French GDP: The Preliminary French GDP for the first-quarter increased by 0.3% quarterly and by 1.1% annualized. Economists predicted an increase of 0.3% quarterly and of 1.1% annualized. Forex traders can compare this to the fourth-quarter GDP which increased by 0.3% quarterly and by 1.0% annualized.
• German Import Price Index: The German Import Price Index for March was reported flat at 0.0% monthly and increased by 1.7% annualized. Economists predicted an increase of 0.3% monthly and of 2.1% annualized. Forex traders can compare this to the German Import Price Index for February which increased by 0.3% monthly and by 1.6% annualized.
• German GfK Consumer Confidence Survey: The German GfK Consumer Confidence Survey for May was reported at 10.4. Economists predicted a figure of 10.3. Forex traders can compare this to the German GfK Consumer Confidence Survey for April which was reported at 10.4.
• German Unemployment Change and German Unemployment Rate: The German Unemployment Change for April is predicted at -5K and the German Unemployment Rate at 4.9%. Forex traders can compare this to the German Unemployment Change for March which was reported at -7K and to the German Unemployment Rate which was reported at 4.9%.
• Eurozone Unemployment Rate: The Eurozone Unemployment Rate for March is predicted at 7.8%. Forex traders can compare this to the Eurozone Unemployment Rate for February which was reported at 7.8%.
• Eurozone GDP: The advanced Eurozone GDP for the first-quarter is predicted to increase by 0.3% quarterly and by 1.1% annualized. Forex traders can compare this to the Eurozone GDP for the fourth-quarter which increased by 0.2% quarterly and by 1.1% annualized.
• Italian GDP: The Preliminary Italian GDP for the first-quarter is predicted to increase by 0.1% quarterly and to decrease by 0.1% annualized. Forex traders can compare this to the Italian GDP for the fourth-quarter which decreased by 0.1% quarterly and which was reported flat at 0.0% annualized.
• Preliminary German CPI: The Preliminary German CPI for April is predicted to increase by 0.5% monthly and by 1.5% annualized. Forex traders can compare this to the German CPI for March which increased by 0.4% monthly and by 1.3% annualized.

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

• Australian ANZ Roy Morgan Weekly Consumer Confidence Index: The Australian ANZ Roy Morgan Weekly Consumer Confidence Index for the week of April 28th was reported at 117.6. Forex traders can compare this to the Australian ANZ Roy Morgan Weekly Consumer Confidence Index for the week of April 21st which was reported at 119.5.
• Chinese PMI: The Chinese Non-Manufacturing PMI for April was reported at 54.3 and the Chinese Manufacturing PMI at 50.1. Economists predicted a figure of 54.9 and of 50.5 Forex traders can compare this to the Chinese Non-Manufacturing PMI for March which was reported at 54.8 and to the Chinese Manufacturing PMI which was reported at 50.5. The Chinese Composite PMI for April was reported at 53.4. Forex traders can compare this to the Chinese Composite PMI for March which was reported at 54.0.
• Australian Private Sector Credit: Australian Private Sector Credit for March increased by 0.3% monthly and by 3.9% annualized. Economists predicted an increase of 0.3% monthly and of 4.0% annualized. Forex traders can compare this to Australian Private Sector Credit for February which increased by 0.3% monthly and by 4.1% annualized.

Should price action for the EURAUD remain inside the or breakout above the 1.5850 to 1.5925 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.5880
• Take Profit Zone: 1.6075 – 1.6120
• Stop Loss Level: 1.5810

Should price action for the EURAUD breakdown below 1.5850 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.5780
• Take Profit Zone: 1.5520 – 1.5615
• Stop Loss Level: 1.5850

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