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

• Final French GDP: The Preliminary French GDP for the third-quarter increased by 0.3% quarterly and by 2.2% annualized. Economists predicted an increase of 0.5% quarterly and by 2.2% annualized. Forex traders can compare this to the second-quarter GDP report which increased by 0.5% quarterly and by 2.2% annualized.
• Eurozone Confidence Data: Eurozone Economic Confidence for November is predicted at 114.6. Forex traders can compare this to Eurozone Economic Confidence for October which was reported at 114.0. Eurozone Industrial Confidence for November is predicted at 8.6. Forex traders can compare this to Eurozone Industrial Confidence for October which was reported at 7.9. Eurozone Services Confidence for November is predicted at 16.7. Forex traders can compare this to Eurozone Services Confidence for October which was reported at 16.2. Final Eurozone Consumer Confidence for November is predicted at 0.1. Forex traders can compare this to the first Eurozone Consumer Confidence for November which was reported at 0.1. The Eurozone Business Climate Indicator for November is predicted at 1.51. Forex traders can compare this to Eurozone Business Climate Indicator for October which was reported at 1.44.
• Preliminary German CPI: The Preliminary German CPI for November is predicted to increase by 0.3% monthly and by 1.7% annualized. Forex traders can compare this to the German CPI for October which was reported flat at 0.0% monthly and which increased by 1.6% annualized.

Here is the key factor to keep in mind today for Japanese Yen trades:

• Japanese Retail Trade Data: Japanese Retail Trade for October was reported flat at 1.0% monthly and decreased by 0.2% annualized. Economists predicted an increase of 0.2% and a flat reading of 0.0%. Forex traders can compare this to Japanese Retail Trade for September which increased by 0.8% monthly and by 2.3% annualized. Large Retailer’s Sales for October decreased by 0.7% monthly. Economists predicted a decrease of 0.8% monthly. Forex traders can compare this to Large Retailer’s Sales for September which increased by 1.9% monthly.

Should price action for the EURJPY remain inside the or breakout above the 132.000 to 132.500 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 132.250
• Take Profit Zone: 134.000 – 134.500
• Stop Loss Level: 131.700

Should price action for the EURJPY breakdown below 132.000 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 131.700
• Take Profit Zone: 129.750 – 131.200
• Stop Loss Level: 132.000

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