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

• Italian Markit/ADACI Manufacturing PMI: The Italian Markit/ADACI Manufacturing PMI for May was reported at 52.7. Economists predicted a figure of 53.0. Forex traders can compare this to the Italian Markit/ADACI Manufacturing PMI for April which was reported at 53.5.
• French Markit Manufacturing PMI: The Final French Markit Manufacturing PMI for May was reported at 54.4. Economists predicted a figure of 55.1. Forex traders can compare this to the previous French Markit Manufacturing PMI for May which was reported at 55.1.
• German Markit/BME Manufacturing PMI: The Final German Markit/BME Manufacturing PMI for May was reported at 56.9. Economists predicted a figure of 56.8. Forex traders can compare this to the previous German Markit/BME Manufacturing PMI for May which was reported at 56.8.
• Eurozone Markit Manufacturing PMI: The Final Eurozone Markit Manufacturing PMI PMI for May was reported at 55.5. Economists predicted a figure of 55.5. Forex traders can compare this to the previous Eurozone Markit Manufacturing PMI for May which was reported at 55.5.
• Italian GDP: The Final Italian GDP for the first-quarter increased by 0.3% quarterly and by 1.4% annualized. Economists predicted an increase of 0.3% quarterly and of 1.4% annualized. Forex traders can compare this to the previous Italian GDP for the first-quarter which increased by 0.3% quarterly and by 1.4% annualized.

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

• US NFP Report: The US NFP Report for May is predicted to show 190K job additions and an unemployment rate of 3.9%. Forex traders can compare this to the US NFP Report for April which showed 164K job additions and an unemployment rate of 3.9%. Private Payrolls for May are predicted to show 190K job additions and Manufacturing Payrolls 20K job additions. Forex traders can compare this to Private Payrolls for April which showed 168K job additions and Manufacturing Payrolls which showed 24K job additions. The Average Work Week for May is predicted at 34.5 hours. Forex traders can compare this to the Average Work Week for April which was reported at 34.5 hours. Average Hourly Earnings for May are predicted to increase by 0.2% monthly and by 2.6% annualized. Forex traders can compare this to Average Hourly Earnings for April which increased by 0.1% monthly and by 2.6% annualized. The Labor Force Participation Rate for May is predicted at 62.8%. Forex traders can compare this to the Labor Force Participation Rate for April which was reported at 62.8%.
• US Markit Manufacturing PMI: The Final US Markit Manufacturing PMI for May is predicted at 56.7. Forex traders can compare this to the previous US Markit Manufacturing PMI for May which was reported at 56.6.
• US Construction Spending: US Construction Spending for April is predicted to increase by 0.8% monthly. Forex traders can compare this to US Construction Spending for March which decreased by 1.7% monthly.
• US ISM Manufacturing Index: The US ISM Manufacturing Index for May is predicted at 58.1. Forex traders can compare this to the US ISM Manufacturing Index for April which was reported at 57.3. ISM Prices Paid for May are predicted at 77.9. Forex traders can compare this to ISM Prices Paid for April which were reported at 79.3. ISM Employment for May is predicted at 54.5. Forex traders can compare this to ISM Employment for April which were reported at 54.2.

Should price action for the EURUSD remain inside the or breakout above the 1.1640 to 1.1720 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.1680
• Take Profit Zone: 1.2335 – 1.2415
• Stop Loss Level: 1.1510

Should price action for the EURUSD breakdown below 1.1640 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.1610
• Take Profit Zone: 1.1400 – 1.1440
• Stop Loss Level: 1.1680

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