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

• German PPI: The German PPI for May decreased by 0.2% monthly and increased by 2.8% annualized. Economists predicted a decrease of 0.1% monthly and an increase of 2.9% annualized. Forex traders can compare this to the German PPI for April which increased by 0.4% monthly and by 3.4% annualized.
• Eurozone Current Account: The Eurozone Current Account (s.a.) for April was reported at €22.0B and the Eurozone Current Account (n.s.a) was reported at €21.5B. Forex traders can compare this to the Eurozone Current Account (s.a.) for March which was reported at €35.7B and to the Eurozone Current Account (n.s.a.) which was reported at €46.4B.

Here is the key factor to keep in mind today for Australian Dollar trades:

• Australian House Price Index: The Australian House Price Index for the first-quarter increased by 2.2% quarterly and by 10.2% annualized. Economists predicted an increase of 2.2% quarterly and of 8.9% annualized. Forex traders can compare this to the Australian House Price Index for the fourth-quarter which increased by 4.1% quarterly and by 7.7% annualized.

Should price action for the EURAUD remain inside the or breakdown below the 1.4625 to 1.4675 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.4650
• Take Profit Zone: 1.4000 – 1.4100
• Stop Loss Level: 1.4800

Should price action for the EURAUD breakout above 1.4800 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.4850
• Take Profit Zone: 1.5100 – 1.5150
• Stop Loss Level: 1.4625

Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.