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

• Final French GDP: The Preliminary French GDP for the first-quarter increased by 0.5% quarterly and by 1.0% annualized. Economists predicted an increase of 0.4% quarterly and by 1.0% annualized. Forex traders can compare this to the previous first-quarter GDP report which increased by 0.4% quarterly and by 1.0% annualized.
• French Manufacturing PMI, Services PMI and Composite PMI: The Preliminary French Markit Manufacturing PMI for June was reported at 55.0. Economists predicted a figure of 54.0. Forex traders can compare this to the French Markit Manufacturing PMI for for May which was reported at 53.8. The Preliminary French Markit Services PMI for June was reported at 55.3. Economists predicted a figure of 57.0. Forex traders can compare this to the French Markit Services PMI for for May which was reported at 57.2. The Preliminary French Markit Composite PMI for June was reported at 55.3. Economists predicted a figure of 56.7. Forex traders can compare this to the French Markit Composite PMI for for May which was reported at 56.9.
• German Manufacturing PMI, Services PMI and Composite PMI: The Preliminary German Markit Manufacturing PMI for June was reported at 59.3. Economists predicted a figure of 59.0. Forex traders can compare this to the German Markit Manufacturing PMI for for May which was reported at 59.5. The Preliminary German Markit Services PMI for June was reported at 53.7. Economists predicted a figure of 55.4. Forex traders can compare this to the German Markit Services PMI for for May which was reported at 55.4. The Preliminary German Markit Composite PMI for June was reported at 56.1. Economists predicted a figure of 57.2. Forex traders can compare this to the German Markit Composite PMI for for May which was reported at 57.4.
• Eurozone Manufacturing PMI, Services PMI and Composite PMI: The Preliminary Eurozone Markit Manufacturing PMI for June was reported at 57.3. Economists predicted a figure of 56.8. Forex traders can compare this to the Eurozone Markit Manufacturing PMI for for May which was reported at 57.0. The Preliminary Eurozone Markit Services PMI for June was reported at 54.7. Economists predicted a figure of 56.1. Forex traders can compare this to the Eurozone Markit Services PMI for for May which was reported at 56.3. The Preliminary Eurozone Markit Composite PMI for June was reported at 55.7. Economists predicted a figure of 56.6. Forex traders can compare this to the Eurozone Markit Composite PMI for for May which was reported at 56.8.

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

• US Markit Manufacturing PMI and US Markit Services PMI: The Preliminary US Markit Manufacturing PMI for June is predicted at 52.9. Forex traders can compare this to the US Markit Manufacturing PMI for May which was reported at 52.7. The Preliminary US Markit Services PMI for June is predicted at 53.9. Forex traders can compare this to the US Markit Services PMI for May which was reported at 53.6.
• US New Home Sales: US New Home Sales for May are predicted to increase by 4.2% monthly to 593K New Homes. Forex traders can compare this to US New Home Sales for April which decreased by 11.4% monthly to 569K New Homes.

Should price action for the EURUSD remain inside the or breakout above the 1.1150 to 1.1200 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.1175
• Take Profit Zone: 1.1550 – 1.1600
• Stop Loss Level: 1.1000

Should price action for the EURUSD breakdown below 1.1150 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.1125
• Take Profit Zone: 1.0950 – 1.1000
• Stop Loss Level: 1.1200

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