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

• German Factory Orders: German Factory Orders for October increased by 0.3% monthly and decreased by 2.0% annualized. Economists predicted a decrease of 0.4% monthly and of 3.1% annualized. Forex traders can compare this to German Factory Orders for September which increased by 0.3% monthly and decreased by 2.2% annualized.

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

• US ADP Employment Change: The US ADP Employment Change for November is predicted at 195K. Forex traders can compare this to the US ADP Employment Change for October which was reported at 227K.
• US Trade Balance: The US Trade Balance for October is predicted at -$55.0B. Forex traders can compare this to the US Trade Balance for September which was reported at -$54.0B.
• US Initial Jobless Claims and Continuing Claims: US Initial Jobless Claims for the week of December 1st are predicted at 225K and US Continuing Claims for the week of November 24th are predicted at 1,695K. Forex traders can compare this to US Initial Jobless Claims for the week of November 14th which were reported at 234K and to US Continuing Claims for the week of November 17th which were reported at 1,710K.
• US Markit Services PMI and Markit Composite PMI: The US Final Markit Services PMI for November is predicted at 54.4 and the US Final Markit Composite PMI is predicted at 54.5. Forex traders can compare this to the previous US Markit Services PMI for November which was reported at 54.4 and to the previous US Markit Composite PMI which was reported at 54.5.
• US ISM Non-Manufacturing PMI: US ISM Non-Manufacturing PMI for November is predicted at 59.0. Forex traders can compare this to the US ISM Non-Manufacturing PMI for October which was reported at 60.3.
• US Factory Orders: US Factory Orders for October are predicted to decrease by 2.0% monthly. Forex traders can compare this to US Factory Orders for September which increased by 0.7% monthly.

Should price action for the EURUSD remain inside the or breakout above the 1.1305 to 1.1380 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.1330
• Take Profit Zone: 1.1730 – 1.1810
• Stop Loss Level: 1.1270

Should price action for the EURUSD breakdown below 1.1305 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.1280
• Take Profit Zone: 1.1180 – 1.1210
• Stop Loss Level: 1.1330

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