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 October was reported at 51.3. Economists predicted a figure of 50.0. Forex traders can compare this to the French Markit Manufacturing PMI for for September which was reported at 49.7. The Preliminary French Markit Services PMI for October was reported at 52.1. Economists predicted a figure of 53.0. Forex traders can compare this to the French Markit Services PMI for for September which was reported at 53.3. The Preliminary French Markit Composite PMI for October was reported at 52.2. Economists predicted a figure of 52.8. Forex traders can compare this to the French Markit Composite PMI for for September which was reported at 52.7.
• German Manufacturing PMI, Services PMI and Composite PMI: The Preliminary German Markit Manufacturing PMI for October was reported at 55.1. Economists predicted a figure of 54.4. Forex traders can compare this to the German Markit Manufacturing PMI for for September which was reported at 54.3. The Preliminary German Markit Services PMI for October was reported at 54.1. Economists predicted a figure of 51.5. Forex traders can compare this to the German Markit Services PMI for for September which was reported at 50.9. The Preliminary German Markit Composite PMI for October was reported at 55.1. Economists predicted a figure of 53.3. Forex traders can compare this to the German Markit Composite PMI for for September which was reported at 52.8.
• Eurozone Manufacturing PMI, Services PMI and Composite PMI: The Preliminary Eurozone Markit Manufacturing PMI for October was reported at 53.3. Economists predicted a figure of 52.7. Forex traders can compare this to the Eurozone Markit Manufacturing PMI for for September which was reported at 52.6. The Preliminary Eurozone Markit Services PMI for October was reported at 53.5. Economists predicted a figure of 52.4. Forex traders can compare this to the Eurozone Markit Services PMI for for September which was reported at 52.2. The Preliminary Eurozone Markit Composite PMI for October was reported at 53.7. Economists predicted a figure of 52.8. Forex traders can compare this to the Eurozone Markit Composite PMI for for September which was reported at 52.6.

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

• Japanese Merchandise Trade Balance: The Japanese Merchandise Trade Balance for September was reported at ¥498.3B and the Adjusted Merchandise Trade Balance at ¥349.0B. Economists predicted a figure of ¥366.1B and ¥211.0B. Forex traders can compare this to the Merchandise Trade Balance for August which was reported at -¥19.2B and the Adjusted Merchandise Trade Balance which was reported at ¥364.4B. Merchandise Trade Exports for September decreased by 6.9% annualized and Merchandise Trade Imports by 16.3% annualized. Economists predicted a decrease of 10.8% annualized and 17.0% annualized. Forex traders can compare this to Merchandise Trade Exports for August which decreased by 9.6% annualized and Merchandise Trade Imports which decreased by 17.2% annualized.
• Japanese Nikkei Manufacturing PMI: The Preliminary Japanese Nikkei Manufacturing PMI for October was reported at 51.7. Forex traders can compare this to the Japanese Nikkei Manufacturing PMI September which was reported at 50.4.

Should price action for the EURJPY remain inside the or breakout above the 113.000 to 113.500 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 115.250
• Take Profit Zone: 118.500 – 119.000
• Stop Loss Level: 112.250

Should price action for the EURJPY breakdown below 113.000 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 112.750
• Take Profit Zone: 111.000 – 111.500
• Stop Loss Level: 113.250

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