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

• French Preliminary Markit PMI: The French Preliminary Markit Manufacturing PMI for January was reported at 53.4. Economists predicted a figure of 53.4. Forex traders can compare this to the French Markit Manufacturing PMI for December which was reported at 53.5. The French Preliminary Markit Services PMI for January was reported at 53.9. Economists predicted a figure of 53.1. Forex traders can compare this to the French Markit Services PMI for December which was reported at 52.9. The French Preliminary Markit Composite PMI for January was reported at 53.8. Economists predicted a figure of 53.2. Forex traders can compare this to the French Markit Composite PMI for December which was reported at 53.1.
• German Preliminary Markit PMI: The German Preliminary Markit Manufacturing PMI for January was reported at 56.5. Economists predicted a figure of 55.4. Forex traders can compare this to the German Markit Manufacturing PMI for December which was reported at 55.6. The German Preliminary Markit Services PMI for January was reported at 53.2. Economists predicted a figure of 54.5. Forex traders can compare this to the German Markit Services PMI for December which was reported at 54.3. The German Preliminary Markit Composite PMI for January was reported at 54.7. Economists predicted a figure of 55.4. Forex traders can compare this to the German Markit Composite PMI for December which was reported at 55.2.
• Eurozone Preliminary Markit PMI: The Eurozone Preliminary Markit Manufacturing PMI for January was reported at 55.1. Economists predicted a figure of 54.8. Forex traders can compare this to the Eurozone Markit Manufacturing PMI for December which was reported at 54.9. The Eurozone Preliminary Markit Services PMI for January was reported at 53.6. Economists predicted a figure of 53.9. Forex traders can compare this to the Eurozone Markit Services PMI for December which was reported at 53.7. The Eurozone Preliminary Markit Composite PMI for January was reported at 54.3. Economists predicted a figure of 54.5. Forex traders can compare this to the Eurozone Markit Composite PMI for December which was reported at 54.4.

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

• US Markit Manufacturing PMI: The Preliminary US Markit Manufacturing PMI for January is predicted at 54.5. Forex traders can compare this to the US Markit Manufacturing PMI for December which was reported at 54.3.
• US Existing Home Sales: US Existing Home Sales for December are predicted to decrease by 2.0% monthly to 5.50M. Forex traders can compare this to US Existing Home Sales for November which increased by 0.7% monthly to 5.61M.
• US Richmond Fed Manufacturing Index: The US Richmond Fed Manufacturing Index for January is predicted at 6. Forex traders can compare this to the US Richmond Fed Manufacturing Index for December which was reported at 8.

Should price action for the EURUSD remain inside the or breakout above the 1.0725 to 1.0775 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.0750
• Take Profit Zone: 1.1150 – 1.1200
• Stop Loss Level: 1.0600

Should price action for the EURUSD breakdown below 1.0725 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.0675
• Take Profit Zone: 1.0325 – 1.0400
• Stop Loss Level: 1.0775

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