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

• German CPI: The Final German CPI for March increased by 0.4% monthly and by 1.5% annualized. Economists predicted an increase of 0.4% monthly and of 1.5% annualized. Forex traders can compare this to the previous German CPI for March which increased by 0.4% monthly and by 1.5% annualized.
• Eurozone Trade Balance: The Eurozone Trade Balance for February is predicted at €20.1B. Forex traders can compare this to the Eurozone Trade Balance for January which was reported at €19.9B.

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

• US JOLTS Job Openings: US JOLTS Job Openings for February a predicted at 6.110M. Forex traders can compare this to US JOLTS Job Openings for January which were reported at 6.312M.
• US Michigan Consumer Confidence: Preliminary US Michigan Consumer Confidence for April is predicted at 100.6. Forex traders can compare this to US Michigan Consumer Confidence for March which was reported at 101.4. Current Conditions for April are expected at 120.0 and Expectations are predicted at 88.1. Forex traders can compare this to Current Conditions for March which were reported at 121.2 and to Expectations which were reported at 88.8.

Should price action for the EURUSD remain inside the or breakout above the 1.2300 to 1.2380 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.2330
• Take Profit Zone: 1.2555 – 1.2600
• Stop Loss Level: 1.2215

Should price action for the EURUSD breakdown below 1.2300 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.2260
• Take Profit Zone: 1.2155 – 1.2185
• Stop Loss Level: 1.2300

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