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

• German Industrial Production: German Industrial Production for November increased by 3.4% monthly and by 6.1% annualized. Economists predicted an increase of 1.8% monthly and of 4.0% annualized. Forex traders can compare this to German Industrial Production for October which decreased by 1.4% monthly and which increased by 2.7% annualized.
• German Trade Balance & German Current Account Balance: The German Trade Balance for November was reported at a €23.7B. Economists predicted a figure of €21.2B. Forex traders can compare this to German Trade Balance for October which was reported at €18.9B. Exports increased by 4.1% monthly and Imports increased by 2.3% monthly. Economists predicted an increase of 1.2% monthly and of 0.6% monthly. Forex traders can compare this to Exports for October which decreased by 0.3% monthly and to Imports which increased by 1.8% monthly. The German Current Account Balance for November was reported at a €25.4B. Economists predicted a figure of €25.5B. Forex traders can compare this to the German Current Account Balance for October which was reported at €18.1B.
• Eurozone Unemployment Rate: The Eurozone Unemployment Rate for November was reported at 8.7%. Economists predicted a figure of 8.7%. Forex traders can compare this to the Eurozone Unemployment Rate for October which was reported at 8.8%.

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 January 7th was reported at 122.0. Forex traders can compare this to the Australian ANZ Roy Morgan Weekly Consumer Confidence Index for the week of December 31st which was reported at 116.5.
• Australian Building Approvals: Australian Building Approvals for November increased by 11.7% monthly and by 17.1% annualized. Economists predicted a decrease of 1.3% monthly and an increase of 4.6% annualized. Forex traders can compare this to Australian Building Approvals for October which decreased by 0.1% monthly and which increased by 17.5% annualized.
• Australian ANZ Job Advertisements: Australian ANZ Job Advertisements for December decreased by 2.3% monthly. Forex traders can compare this to Australian ANZ Job Advertisements for November which increased by 1.1% monthly.

Should price action for the EURAUD remain inside the or breakout above the 1.5200 to 1.5300 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.5250
• Take Profit Zone: 1.5695 – 1.5770
• Stop Loss Level: 1.5050

Should price action for the EURAUD breakdown below 1.5200 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.5150
• Take Profit Zone: 1.4790 – 1.4895
• Stop Loss Level: 1.5250

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