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

• Eurozone GDP: The Eurozone GDP for 2018 is predicted to increase by 1.5% annualized. Forex traders can compare this to the Eurozone GDP for 2017 which increased by 2.2% annualized.
• Eurozone Trade Balance: The Eurozone Trade Balance for November is predicted at €12.8B. Forex traders can compare this to the Eurozone Trade Balance for October which was reported at €12.5B.

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

• US Empire Manufacturing Index: The US Empire Manufacturing Index for January is predicted at 11.3. Forex traders can compare this to the US Empire Manufacturing Index for December which was reported at 10.9.
• US PPI: The US PPI for December is predicted to decrease by 0.1% monthly and to increase by 2.5% annualized. Forex traders can compare this to the US PPI for November which increased by 0.1% monthly and by 2.5% annualized. The US Core PPI for December is predicted to increase by 0.2% monthly and by 2.9% annualized. Forex traders can compare this to the US Core PPI for November which increased by 0.3% monthly and by 2.7% annualized. The US Core PPI ex Trade 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 ex Trade for November which increased by 0.3% monthly and by 2.8% annualized.

Should price action for the EURUSD remain inside the or breakout above the 1.1450 to 1.1500 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.1480
• Take Profit Zone: 1.1755 – 1.1815
• Stop Loss Level: 1.1395

Should price action for the EURUSD breakdown below 1.1450 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.1420
• Take Profit Zone: 1.1210 – 1.1270
• Stop Loss Level: 1.1480

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