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

• German Wholesale Price Index: The German Wholesale Price Index for July decreased by 0.1% monthly and increased by 2.2% annualized. Forex traders can compare this to the German Wholesale Price Index for June which was reported flat at 0.0% monthly and which increased by 2.5% annualized.
• German CPI: The Final German CPI for July increased by 0.4% monthly and by 1.7% annualized. Economists predicted an increase of 0.4% monthly and of 1.7% annualized. Forex traders can compare this to the previous German CPI for July which increased by 0.4% monthly and by 1.7% annualized.

Here is the key factor to keep in mind today for US Dollar trades:

• US CPI and Core CPI: The US CPI for July is predicted to increase by 0.2% monthly and by 1.8% annualized. Forex traders can compare this to the US CPI for June which was reported flat at 0.0% monthly and which increased by 1.6% annualized. The US Core CPI for July is predicted to increase by 0.2% monthly and by 1.7% annualized. Forex traders can compare this to the US Core CPI for June which increased by 0.1% monthly by 1.7% annualized.

Should price action for the EURUSD remain inside the or breakout above the 1.1740 to 1.1780 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.1760
• Take Profit Zone: 1.2050 – 1.2100
• Stop Loss Level: 1.1640

Should price action for the EURUSD breakdown below 1.1740 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.1710
• Take Profit Zone: 1.1480 – 1.1500
• Stop Loss Level: 1.1780

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