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

• Italian Markit/ADACI Manufacturing PMI: The Italian Markit/ADACI Manufacturing PMI for August is predicted at 51.2. Forex traders can compare this to the Italian Markit/ADACI Manufacturing PMI for July which was reported at 51.5.
• French Markit Manufacturing PMI: The Final French Markit Manufacturing PMI for August is predicted at 53.7. Forex traders can compare this to the previous French Markit Manufacturing PMI for August which was reported at 53.7.
• German Markit/BME Manufacturing PMI: The Final German Markit/BME Manufacturing PMI for August is predicted at 56.1. Forex traders can compare this to the previous German Markit/BME Manufacturing PMI for August which was reported at 56.1.
• Eurozone Markit Manufacturing PMI: The Final Eurozone Markit Manufacturing PMI PMI for August is predicted at 54.6. Forex traders can compare this to the previous Eurozone Markit Manufacturing PMI for August which was reported at 54.6.

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

• Australian AiG Performance of Manufacturing Index: The Australian AiG Performance of Manufacturing Index for August was reported at 56.7. Forex traders can compare this to the Australian AiG Performance of Manufacturing Index for July which was reported at 52.0.
• Australian CBA Manufacturing PMI: The Australian Manufacturing PMI for August was reported at 53.2. Forex traders can compare this to the Australian CBA Manufacturing PMI for July which was reported at 52.4.
• Australian CoreLogic House Prices: Australian CoreLogic House Prices for August decreased by 0.4% monthly. Forex traders can compare this to Australian CoreLogic House Prices for July which decreased by 0.6%.
• Australian TD Securities Inflation: Australian TD Securities Inflation for August increased by 0.1% monthly and by 2.1% annualized. Forex traders can compare this to Australian TD Securities Inflation for July which increased by 0.1% monthly and by 2.0% annualized.
• Australian Inventories and Company Operating Profits: Australian Inventories for the second-quarter increased by 0.6% quarterly and Australian Company Operating Profits increased by 2.0% quarterly. Economists predicted an increase of 0.2% and of 1.3%. Forex traders can compare this to Australian Inventories for the first-quarter which increased by 0.8% quarterly and to Australian Company Operating Profits which increased by 6.5% quarterly.
• Australian ANZ Job Advertisements: Australian ANZ Job Advertisements for August decreased by 0.6% monthly. Forex traders can compare this to Australian ANZ Job Advertisements for July which increased by 1.4% monthly.
• Australian Retail Sales: Australian Retail Sales for July were reported flat at 0.0% monthly. Economists predicted an increase of 0.3% monthly. Forex traders can compare this to Australian Retail Sales for June which increased by 0.4% monthly.
• Chinese Caixin Manufacturing PMI: The Chinese Caixin Manufacturing PMI for August was reported at 50.6. Economists predicted a figure of 50.7. Forex traders can compare this to the Chinese Caixin Manufacturing PMI for July which was reported at 50.8.
• Australian RBA Commodity Index: The Australian RBA Commodity Index for August increased by 6.7% annualized. Forex traders can compare this to the Australian RBA Commodity Index for July which increased by 7.5% annualized.

Should price action for the EURAUD remain inside the or breakdown below the 1.6115 to 1.6170 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.6140
• Take Profit Zone: 1.5580 – 1.5660
• Stop Loss Level: 1.6250

Should price action for the EURAUD breakout above 1.6170 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.6220
• Take Profit Zone: 1.6500 – 1.6580
• Stop Loss Level: 1.6115

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