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

• Eurozone Money Supply M3: Eurozone Money Supply M3 for January is predicted to increase by 4.6% annualized. Forex traders can compare this to Eurozone Money Supply M3 for December which increased by 4.6% annualized.
• Eurozone Confidence Data: Eurozone Economic Confidence for February is predicted at 114.0. Forex traders can compare this to Eurozone Economic Confidence for January which was reported at 114.7. Eurozone Industrial Confidence for February is predicted at 8.0. Forex traders can compare this to Eurozone Industrial Confidence for January which was reported at 8.8. Eurozone Services Confidence for February is predicted at 16.3. Forex traders can compare this to Eurozone Services Confidence for January which was reported at 16.7. Final Eurozone Consumer Confidence for February is predicted at 0.1. Forex traders can compare this to the first Eurozone Consumer Confidence for February which was reported at 0.1. The Eurozone Business Climate Indicator for February is predicted at 1.47. Forex traders can compare this to Eurozone Business Climate Indicator for January which was reported at 1.54.
• Preliminary German CPI: The Preliminary German CPI for February is predicted to increase by 0.5% monthly and by 1.5% annualized. Forex traders can compare this to the German CPI for January which decreased by 0.7% monthly and which increased by 1.6% annualized.

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

• US Advanced Goods Trade Balance: The US Advanced Goods Trade Balance for January is predicted at -$72.3B. Forex traders can compare this to the US Advanced Goods Trade Balance for December which was reported at -$71.6B.
• US Wholesale Inventories: US Preliminary Wholesale Inventories for January are predicted to increase by 0.3% monthly. Forex traders can compare this to US Wholesale Inventories for December which increased by 0.4% monthly.
• US Preliminary Durable Goods Orders: US Preliminary Durable Goods Orders for January are predicted to decrease by 2.0% monthly and Durables Excluding Transportation are predicted to increase by 0.4% monthly. Forex traders can compare this to US Durable Goods Orders for December which increased by 2.8% monthly and to Durables Excluding Transportation which increased by 0.7% monthly. Capital Goods Orders Non-Defense Excluding Aircraft for January are predicted to increase by 0.5% monthly and Capital Goods Shipments Non-Defense Excluding Aircraft are predicted to increase by 0.2% monthly. Forex traders can compare this to Capital Goods Orders Non-Defense Excluding Aircraft for December which decreased by 0.6% monthly and to Capital Goods Shipments Non-Defense Excluding Aircraft which increased by 0.4% monthly.
• US House Price Purchase Index: The US House Price Purchase Index for December is predicted to increase by 0.4% monthly. Forex traders can compare this to US House Price Purchase Index for November which increased by 0.4% monthly.
• US S&P/Case-Shiller Composite 20: The US S&P/Case-Shiller Composite 20 for December is predicted to increase by 0.6% monthly and by 6.3% annualized. Forex traders can compare this to the US S&P/Case-Shiller Composite 20 for November which increased by 0.75% monthly and by 6.41% annualized.
• US Richmond Fed Manufacturing Index: The US Richmond Fed Manufacturing Index for February is predicted at 15. Forex traders can compare this to the US Richmond Fed Manufacturing Index for January which was reported at 14.
• US Consumer Confidence: US Consumer Confidence for February is predicted at 126.0. Forex traders can compare this to US Consumer Confidence for January which was reported at 125.4.

Should price action for the EURUSD remain inside the or breakout above the 1.2300 to 1.2360 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: 1.2260

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 @ 1.2285
• Take Profit Zone: 1.2185 – 1.2205
• Stop Loss Level: 1.2330

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