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

• German GDP: The German GDP for 2017 increased by 2.2% annualized and the German Public Finance-to-GDP Ratio for 2017 was reported at 1.2%. Economists predicted an increase of 2.4% annualized and a ratio of 1.1%. Forex traders can compare this to the German GDP report for 2016 which increased by 1.9% annualized and to the German Public Finance-to-GDP Ratio for 2016 which was reported at 0.8%.
• Eurozone Industrial Production: Eurozone Industrial Production for November increased by 1.0% monthly and by 3.2% annualized. Economists predicted an increase of 0.8% monthly and of 3.0% annualized. Forex traders can compare this to Eurozone Industrial Production for October which increased by 0.4% monthly and by 3.9% annualized.

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

• US PPI: The US PPI for December is predicted to increase by 0.2% monthly and by 3.0% annualized. Forex traders can compare this to the US PPI for November which increased by 0.4% monthly and by 3.1% annualized. The US Core PPI for December is predicted to increase by 0.2% monthly and by 2.5% annualized. Forex traders can compare this to the US Core PPI for November which increased by 0.3% monthly and by 2.4% annualized. The US Core PPI ex Trade for December is predicted to increase by 0.2% monthly and by 2.2% annualized. Forex traders can compare this to the US Core PPI ex Trade for November which increased by 0.4% monthly and by 2.4% annualized.
• US Initial Jobless Claims and Continuing Claims: US Initial Jobless Claims for the week of January 6th are predicted at 245K and US Continuing Claims for the week of December 30th are predicted at 1,915K. Forex traders can compare this to US Initial Jobless Claims for the week of December 30th which were reported at 250K and to US Continuing Claims for the week of December 23rd which were reported at 1,914K.
• US Monthly Budget Statement: The US Monthly Budget Statement for December is predicted at -$46.0B. Forex traders can compare this to the US Monthly Budget Statement for November which was reported at -$138.5B.

Should price action for the EURUSD remain inside the or breakout above the 1.1920 to 1.1970 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.1950
• Take Profit Zone: 1.2285 – 1.2335
• Stop Loss Level: 1.1810

Should price action for the EURUSD breakdown below 1.1920 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.1890
• Take Profit Zone: 1.1720 – 1.1775
• Stop Loss Level: 1.1950

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