The Final German CPI for March increased by 0.1% monthly, and by 1.4% annualized. Economists predicted an increase of 0.1% and 1.4% annualized. Forex traders can compare this to the previous German CPI for March, which increased by 0.1% monthly and 1.4% annualized. The EU Harmonized German CPI for March increased by 0.1% monthly, and by 1.3% annualized. Economists predicted an increase of 0.1% and 1.3%. Forex traders can compare this to the previous EU Harmonized German CPI for March, which increased by 0.1% monthly and 1.3% annualized. Eurozone Industrial Production for February is predicted to decrease by 0.2% monthly and by 1.9% annualized. Forex traders can compare this to Eurozone Industrial Production for January, which increased by 2.3% monthly, and which decreased 1.9% annualized.

US Initial Jobless Claims for the week of April 11th are predicted at 5,105K and US Continuing Claims for the week of April 4th are predicted at 13,500K. Forex traders can compare this to US Initial Jobless Claims for the week of April 4th, which were reported at 6,606K and to US Continuing Claims for the week of March 28th, which were reported at 7,455K.

US Housing Starts for March are predicted to decrease by 17.7% monthly to 1,317K starts, and Building Permits are predicted to decrease by 10.5% monthly to 1,300K permits. Forex traders can compare this to US Housing Starts for February, which decreased by 1.5% monthly to 1,599K starts and to Building Permits, which decreased by 5.5% monthly to 1,464K permits. The Philadelphia Fed Business Outlook for April is predicted at -30.0. Forex traders can compare this to the Philadelphia Fed Business Outlook for March, which was reported at -12.7.

The EUR/USD forecast is turning moderately bullish and will maintain this stance as long as price action remains supported by the Tenkan-sen. Today’s initial jobless claims will be closely monitored. A fourth disappointment should allow bulls to force more upside in this currency pair. A breakout above the Kijun-sen can increase the upside potential. What impact will US data have today? Subscribe to the PaxForex Daily Fundamental Analysis and earn over 5,000 pips per month.

Should price action for the EUR/USD remain inside the or breakout above the 1.0840 to 1.0910 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.0875
• Take Profit Zone: 1.1370 – 1.1495
• Stop Loss Level: 1.0785

Should price action for the EUR/USD breakdown below 1.0840 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.0785
• Take Profit Zone: 1.0635 – 1.0725
• Stop Loss Level: 1.0840

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