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

• German Wholesale Price Index: The German Wholesale Price Index for February decreased by 0.3% monthly and increased by 1.2% annualized. Forex traders can compare this to the German Wholesale Price Index for January which increased by 0.9% monthly and by 2.0% annualized.
• Eurozone Final CPI and Eurozone Final Core CPI: The Eurozone CPI for February is predicted to increase by 0.2% monthly. Forex traders can compare this to the Eurozone CPI for January which decreased by 0.9% monthly. The Final Eurozone CPI for February is predicted to increase by 1.2% annualized and the Final Eurozone Core CPI is predicted to increase by 1.0% annualized. Forex traders can compare this to the previous Eurozone CPI for February which increased by 1.3% annualized and to the previous Eurozone Core CPI which increased by 1.0% annualized.
• Eurozone Wages and Eurozone Labor Costs: Eurozone Wages for the fourth-quarter are predicted to increase by 1.8% annualized and Eurozone Labor Costs are predicted to increase by 1.8% annualized. Forex traders can compare this to Eurozone Wages for the third-quarter which increased by 1.8% annualized and to Eurozone Labor Costs which increased by 1.6% annualized.

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

• US Housing Starts and Building Permits: US Housing Starts for February are predicted to decrease by 2.7% monthly to 1,290K starts and Building Permits are predicted to decrease by 3.8% monthly to 1,325K permits. Forex traders can compare this to US Housing Starts for January which increased by 9.7% monthly to 1,326K starts and to Building Permits which increased by 7.4% monthly to 1,396K permits.
• US Industrial Production and Manufacturing Production: US Industrial Production for February is predicted to increase by 0.3% monthly and Manufacturing Production is predicted to increase by 0.4% monthly. Forex traders can compare this to US Industrial Production for January which decreased by 0.1% monthly and to Manufacturing Production which was reported flat at 0.0% monthly.Capacity Utilization for February is predicted at 77.7%. Forex traders can compare this to Capacity Utilization for January which was reported at 77.5%.
• US JOLTS Job Openings: US JOLTS Job Openings for January a predicted at 5.890M. Forex traders can compare this to US JOLTS Job Openings for December which were reported at 5.811M.
• US Michigan Consumer Confidence: Preliminary US Michigan Consumer Confidence for March is predicted at 99.3. Forex traders can compare this to US Michigan Consumer Confidence for March which was reported at 99.7. Current Conditions for March are expected at 114.5 and Expectations are predicted at 89.8. Forex traders can compare this to Current Conditions for March which were reported at 114.9 and to Expectations which were reported at 90.0.

Should price action for the EURUSD remain inside the or breakout above the 1.2295 to 1.2325 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.2310
• Take Profit Zone: 1.2505 – 1.2555
• Stop Loss Level: 1.2270

Should price action for the EURUSD breakdown below 1.2295 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.2270
• Take Profit Zone: 1.2155 – 1.2190
• Stop Loss Level: 1.2310

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