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 March was reported at 53.6. Economists predicted a figure of 55.5. Forex traders can compare this to the French Markit Manufacturing PMI for for February which was reported at 55.9. The Preliminary French Markit Services PMI for March was reported at 56.8. Economists predicted a figure of 57.0. Forex traders can compare this to the French Markit Services PMI for for February which was reported at 57.4. The Preliminary French Markit Composite PMI for March was reported at 56.2. Economists predicted a figure of 57.0. Forex traders can compare this to the French Markit Composite PMI for for February which was reported at 57.3.
• German Manufacturing PMI, Services PMI and Composite PMI: The Preliminary German Markit Manufacturing PMI for February is predicted at 59.8. Forex traders can compare this to the German Markit Manufacturing PMI for for February which was reported at 60.6. The Preliminary German Markit Services PMI for March is predicted at 55.0. Forex traders can compare this to the German Markit Services PMI for for February which was reported at 55.3. The Preliminary German Markit Composite PMI for March is predicted at 57.0. Forex traders can compare this to the German Markit Composite PMI for for February which was reported at 57.6.
• Eurozone Manufacturing PMI, Services PMI and Composite PMI: The Preliminary Eurozone Markit Manufacturing PMI for March is predicted at 58.1. Forex traders can compare this to the Eurozone Markit Manufacturing PMI for for February which was reported at 58.6. The Preliminary Eurozone Markit Services PMI for March is predicted at 56.0. Forex traders can compare this to the Eurozone Markit Services PMI for for February which was reported at 56.2. The Preliminary Eurozone Markit Composite PMI for March is predicted at 56.8. Forex traders can compare this to the Eurozone Markit Composite PMI for for February which was reported at 57.1.
• German IFO: The German IFO Business Climate Index for March is predicted at 114.6. Forex traders can compare this to the German IFO Business Climate Index for February which was reported at 115.4. The German IFO Current Assessment Index for March is predicted at 125.6. Forex traders can compare this to the German IFO Current Assessment Index for February which was reported at 126.3. The German IFO Expectations Index for March is predicted at 104.4. Forex traders can compare this to the German IFO Expectations Index for February which was reported at 105.4.
• Eurozone Current Account: The Eurozone Current Account (s.a.) for January is predicted at €30.2B and the Eurozone Current Account (n.s.a) is predicted at €46.3B. Forex traders can compare this to the Eurozone Current Account (s.a.) for December which was reported at €29.9B and to the Eurozone Current Account (n.s.a.) which was reported at €45.8B.

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

• UK Retail Sales: UK Retail Sales for February are predicted to increase by 0.4% monthly and by 1.2% annualized. Forex traders can compare this to UK Retail Sales for January which increased by 0.1% monthly and by 1.5% annualized. UK Retail Sales Including Auto and Fuel for February are predicted to increase by 0.4% monthly and increased by 1.4% annualized. Forex traders can compare this to UK Retail Sales Including Auto and Fuel for January which increased by 0.1% monthly and by 1.6% annualized.
• Bank of England Interest Rate Decision, Asset Purchase Target and Corporate Bond Target: The Bank of England is predicted to keep interest rates at 0.50%, the Asset Purchase Target £435B and the Corporate Bond Target at £10B. Forex traders can compare this to the previous Bank of England meeting where the UK central bank decided to keep interest rates at 0.50%, the Asset Purchase Target £435B and the Corporate Bond Target at £10B.

Should price action for the EURGBP remain inside the or breakdown below the 0.8725 to 0.8745 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 0.8735
• Take Profit Zone: 0.8315 – 0.8385
• Stop Loss Level: 0.8815

Should price action for the EURGBP breakout above 0.8745 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 0.8770
• Take Profit Zone: 0.8850 – 0.8870
• Stop Loss Level: 0.8725

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