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 April was reported at 53.4. Economists predicted a figure of 53.5. Forex traders can compare this to the French Markit Manufacturing PMI for for March which was reported at 53.7. The Preliminary French Markit Services PMI for April was reported at 57.4. Economists predicted a figure of 56.5. Forex traders can compare this to the French Markit Services PMI for for March which was reported at 56.9. The Preliminary French Markit Composite PMI for April was reported at 55.9. Economists predicted a figure of 55.9. Forex traders can compare this to the French Markit Composite PMI for for March which was reported at 56.3.
- German Manufacturing PMI, Services PMI and Composite PMI: The Preliminary German Markit Manufacturing PMI for April was reported at 58.1. Economists predicted a figure of 57.5. Forex traders can compare this to the German Markit Manufacturing PMI for for March which was reported at 58.2. The Preliminary German Markit Services PMI for April was reported at 54.1. Economists predicted a figure of 53.7. Forex traders can compare this to the German Markit Services PMI for for March which was reported at 53.9. The Preliminary German Markit Composite PMI for April was reported at 55.3. Economists predicted a figure of 54.8. Forex traders can compare this to the German Markit Composite PMI for for March which was reported at 55.1.
- Eurozone Manufacturing PMI, Services PMI and Composite PMI: The Preliminary Eurozone Markit Manufacturing PMI for April was reported at 56.0. Economists predicted a figure of 56.1. Forex traders can compare this to the Eurozone Markit Manufacturing PMI for for March which was reported at 56.6. The Preliminary Eurozone Markit Services PMI for April was reported at 55.0. Economists predicted a figure of 54.6. Forex traders can compare this to the Eurozone Markit Services PMI for for March which was reported at 54.9. The Preliminary Eurozone Markit Composite PMI for April was reported at 55.2. Economists predicted a figure of 54.8. Forex traders can compare this to the Eurozone Markit Composite PMI for for March which was reported at 55.2.
Here are the key factors to keep in mind today for US Dollar trades:
- US Chicago Fed National Activity Index: The US Chicago Fed National Activity Index for March is predicted at 0.27. Forex traders can compare this to the US Chicago Fed National Activity Index for February which was reported at 0.88.
- US Markit Manufacturing PMI, Services PMI and Composite PMI: The Preliminary US Markit Manufacturing PMI for April is predicted at 55.2. Forex traders can compare this to the US Markit Manufacturing PMI for March which was reported at 55.6. The Preliminary US Markit Services PMI for April is predicted at 54.1. Forex traders can compare this to the US Markit Services PMI for March which was reported at 54.0. The Preliminary US Markit Composite PMI for April is predicted at 55.3. Forex traders can compare this to the US Markit Composite PMI for March which was reported at 54.2.
- US Existing Home Sales: US Existing Home Sales for March are predicted to increase by 0.2% monthly to 5.55M. Forex traders can compare this to US Existing Home Sales for February which increased by 3.0% monthly to 5.54M.
Should price action for the EURUSD remain inside the or breakdown below the 1.2220 to 1.2250 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.2235
- Take Profit Zone: 1.1915 – 1.1945
- Stop Loss Level: 1.2300
Should price action for the EURUSD breakout above 1.2250 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.2270
- Take Profit Zone: 1.2555 – 1.2600
- Stop Loss Level: 1.2220
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
