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

• French Manufacturing PMI, Services PMI and Composite PMI: The Preliminary French Markit Manufacturing PMI for April is predicted at 53.1. Forex traders can compare this to the French Markit Manufacturing PMI for for March which was reported at 53.3. The Preliminary French Markit Services PMI for April is predicted at 57.0. Forex traders can compare this to the French Markit Services PMI for for March which was reported at 57.5. The Preliminary French Markit Composite PMI for April is predicted at 56.2. Forex traders can compare this to the French Markit Composite PMI for for March which was reported at 56.8.
• German Manufacturing PMI, Services PMI and Composite PMI: The Preliminary German Markit Manufacturing PMI for April is predicted at 58.0. Forex traders can compare this to the German Markit Manufacturing PMI for for March which was reported at 58.3. The Preliminary German Markit Services PMI for April is predicted at 55.5. Forex traders can compare this to the German Markit Services PMI for for March which was reported at 55.6. The Preliminary German Markit Composite PMI for April is predicted at 56.8. Forex traders can compare this to the German Markit Composite PMI for for March which was reported at 57.1.
• Eurozone Manufacturing PMI, Services PMI and Composite PMI: The Preliminary Eurozone Markit Manufacturing PMI for April is predicted at 56.0. Forex traders can compare this to the Eurozone Markit Manufacturing PMI for for March which was reported at 56.2. The Preliminary Eurozone Markit Services PMI for April is predicted at 55.9. Forex traders can compare this to the Eurozone Markit Services PMI for for March which was reported at 56.0. The Preliminary Eurozone Markit Composite PMI for April is predicted at 56.4. Forex traders can compare this to the Eurozone Markit Composite PMI for for March which was reported at 56.4.

Here is the key factor to keep in mind today for British Pound trades:

• UK Retail Sales: UK Retail Sales for March are predicted to decrease by 0.5% monthly and to increase by 3.8% annualized. Forex traders can compare this to UK Retail Sales for February which increased by 1.3% monthly and by 4.1% annualized. UK Retail Sales Including Auto and Fuel for March are predicted to decrease by 0.5% monthly and to increase by 3.3% annualized. Forex traders can compare this to UK Retail Sales Including Auto and Fuel for February which increased by 1.4% monthly and by 3.7% annualized.

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 0.8350
• Take Profit Zone: 0.8750 – 0.8800
• Stop Loss Level: 0.8200

Should price action for the EURGBP breakdown below 0.8325 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 0.8275
• Take Profit Zone: 0.8000 – 0.8150
• Stop Loss Level: 0.8375

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