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

• Eurozone Trade Balance: The Eurozone Trade Balance for April was reported at €18.1B. Economists predicted a figure of €20.0B. Forex traders can compare this to the Eurozone Trade Balance for March which was reported at €21.2B.
• Eurozone CPI and Eurozone Core CPI: The Eurozone CPI for May increased by 0.5% monthly. Economists predicted an decrease of 0.5% monthly. Forex traders can compare this to the Eurozone CPI for April which increased by 0.3% monthly. The Final Eurozone CPI for May increased by 1.9% annualized and the Eurozone Core CPI increased by 1.1% annualized. Economists predicted an increase of 1.9% annualized and of 1.1% annualized. Forex traders can compare this to the previous Eurozone CPI for May which increased by 1.2% annualized and to the Eurozone Core CPI which increased by 1.1% annualized.
• Eurozone Labor Costs: Eurozone Labor Costs for the first-quarter increased by 2.0% annualized. Forex traders can compare this to Eurozone Labor Costs for the fourth-quarter which increased by 1.4% annualized.

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

• US Empire Manufacturing Index: The US Empire Manufacturing Index for June is predicted at 18.5. Forex traders can compare this to the US Empire Manufacturing Index for May which was reported at 20.1.
• US Industrial Production and Manufacturing Production: US Industrial Production for May is predicted to increase by 0.2% monthly and Manufacturing Production is predicted to increase by 0.1% monthly. Forex traders can compare this to US Industrial Production for April which increased by 0.7% monthly and to Manufacturing Production which increased by 0.5% monthly.Capacity Utilization for May is predicted at 78.1%. Forex traders can compare this to Capacity Utilization for April which was reported at 78.0%.
• US Michigan Consumer Sentiment: Preliminary US Michigan Consumer Sentiment for June is predicted at 98.5. Forex traders can compare this to US Michigan Consumer Confidence for May which was reported at 98.0. Preliminary Current Conditions for June are expected at 113.0 and Preliminary Expectations are predicted at 89.7. Forex traders can compare this to Current Conditions for May which were reported at 111.8 and to Expectations which were reported at 89.1.

Should price action for the EURUSD remain inside the or breakout above the 1.1540 to 1.1640 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.1600
• Take Profit Zone: 1.2335 – 1.2410
• Stop Loss Level: 1.1510

Should price action for the EURUSD breakdown below 1.1540 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.1500
• Take Profit Zone: 1.1310 – 1.1370
• Stop Loss Level: 1.1600

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