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

• Italian Markit/ADACI Manufacturing PMI: The Italian Markit/ADACI Manufacturing PMI for July was reported at 55.1. Economists predicted a figure of 55.0. Forex traders can compare this to the Italian Markit/ADACI Manufacturing PMI for June which was reported at 55.2.
• French Markit Manufacturing PMI: The Final French Markit Manufacturing PMI for July was reported at 54.9. Economists predicted a figure of 55.4. Forex traders can compare this to the previous French Markit Manufacturing PMI for July which was reported at 55.4.
• German Markit/BME Manufacturing PMI: The Final German Markit/BME Manufacturing PMI for July was reported at 58.1. Economists predicted a figure of 58.3. Forex traders can compare this to the previous German Markit/BME Manufacturing PMI for July which was reported at 58.3.
• Eurozone Markit Manufacturing PMI: The Final Eurozone Markit Manufacturing PMI PMI for July was reported at 56.6. Economists predicted a figure of 56.8. Forex traders can compare this to the previous Eurozone Markit Manufacturing PMI for July which was reported at 56.8.
• German Unemployment Change and German Unemployment Rate: The German Unemployment Change for July was reported at -9K and the German Unemployment Rate at 5.7%. Economists predicted a reading of -5K and of 5.7%. Forex traders can compare this to the German Unemployment Change for June which was reported at 6K and to the German Unemployment Rate which was reported at 5.7%.
• Eurozone GDP: The advanced Eurozone GDP for the second-quarter increased by 0.6% quarterly and by 2.1% annualized. Economists predicted an increase of 0.6% quarterly and of 2.1% annualized. Forex traders can compare this to the previous Eurozone GDP for the second-quarter which increased by 0.5% quarterly and by 1.9% annualized.

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

• US Personal Income and Personal Spending: US Personal Income for June is predicted to increase by 0.4% monthly and Personal Spending is predicted to increase by 0.1% monthly. Forex traders can compare this to Personal Income for May which increased by 0.4% monthly and to Personal Spending which increased by 0.2% monthly. Real Personal Spending for June is predicted to increase by 0.1% monthly. Forex traders can compare this to Real Personal Spending for May which increased by 0.1% monthly. The PCE Deflator for June is predicted flat at 0.0% monthly and to increase by 1.3% annualized. Forex traders can compare this to the PCE Deflator for May which decreased by 0.1% monthly and which increased by 1.4% annualized. The PCE Core Deflator for June is predicted to increase by 0.1% monthly and by 1.4% annualized. Forex traders can compare this to the PCE Core Deflator for May which increased by 0.1% monthly and by 1.4% annualized.
• US Markit Manufacturing PMI: The Final US Markit Manufacturing PMI for July is predicted at 53.2. Forex traders can compare this to the first US Markit Manufacturing PMI for July which was reported at 53.2.
• US ISM Manufacturing Index: The US ISM Manufacturing Index for July is predicted at 56.4. Forex traders can compare this to the US ISM Manufacturing Index for June which was reported at 57.8. ISM Prices Paid are predicted at 55.8. Forex traders can compare this to ISM Prices Paid for June which were reported at 55.0.
• US Construction Spending: US Construction Spending for June is predicted to increase by 0.4% monthly. Forex traders can compare this to US Construction Spending for May which was reported flat at 0.0% monthly.

Should price action for the EURUSD remain inside the or breakdown below the 1.1800 to 1.1840 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.1820
• Take Profit Zone: 1.1500 – 1.1530
• Stop Loss Level: 1.1900

Should price action for the EURUSD breakout above 1.1840 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.1875
• Take Profit Zone: 1.1975 – 1.2000
• Stop Loss Level: 1.1800

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