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

• German Retail Sales: German Retail Sales for September increased by 0.5% monthly and by 4.1% annualized. Economists predicted an increase of 0.5% monthly and of 3.0% annualized. Forex traders can compare this to German Retail Sales for August which decreased by 0.4% monthly and which increased by 2.8% annualized.
• Eurozone Confidence Data: Eurozone Economic Confidence for October was reported at 114.0. Economists predicted a figure of 113.3. Forex traders can compare this to Eurozone Economic Confidence for September which was reported at 113.1. Eurozone Industrial Confidence for October was reported at 7.9. Economists predicted a figure of 7.1. Forex traders can compare this to Eurozone Industrial Confidence for September which was reported at 6.7. Eurozone Services Confidence for October was reported at 16.2. Economists predicted a figure of 15.0. Forex traders can compare this to Eurozone Services Confidence for September which was reported at 15.4. Final Eurozone Consumer Confidence for October was reported at -1.0. Economists predicted a figure of -1.0. Forex traders can compare this to the first Eurozone Consumer Confidence for October which was reported at -1.0. The Eurozone Business Climate Indicator for October was reported at 1.44. Economists predicted a figure of 1.40. Forex traders can compare this to Eurozone Business Climate Indicator for September which was reported at 1.34.

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

• UK Consumer Credit and Net Lending Securities on Dwellings: UK Net Consumer Credit for September was reported at £1.6B and Net Lending Securities on Dwellings was reported at £3.8B. Economists predicted a figure of £1.5B and of £4.0B. Forex traders can compare this to UK Net Consumer Credit for August which was reported at £1.7B and to Net Lending Securities on Dwellings which was reported at £3.9B.
• UK Mortgage Approvals: UK Mortgage Approvals for September were reported at 66.2K. Economists predicted a figure of 66.0K. Forex traders can compare this to UK Mortgage Approvals for August which were reported at 67.9K.
• UK M4 Money Supply: UK M4 Money Supply for September decreased by 0.2% monthly and increased by 4.8% annualized. Forex traders can compare this to UK M4 Money Supply for August which increased by 1.1% monthly and by 4.4% annualized. UK M4 Money Supply excluding IOFCs 3-Month Annualized increased by 4.3% annualized. Forex traders can compare this to UK M4 Money Supply excluding IOFCs 3-Month Annualized for August which increased by 5.6% annualized.

Should price action for the EURGBP remain inside the or breakout above the 0.8800 to 0.8840 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 0.8820
• Take Profit Zone: 0.9030 – 0.9050
• Stop Loss Level: 0.8745

Should price action for the EURGBP breakdown below 0.8800 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 0.8785
• Take Profit Zone: 0.8700 – 0.8745
• Stop Loss Level: 0.8820

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