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

• German GDP: The Final German GDP for the first-quarter increased by 0.3% quarterly and by 2.3% annualized. Economists predicted an increase of 0.3% quarterly and of 2.3% annualized. Forex traders can compare this to the previous fourth-quarter German GDP report which increased by 0.3% quarterly and by 2.3% annualized. Exports decreased by 1.0% and Imports decreased by 1.1%. Economists predicted a decrease of 0.5% and of 0.5%. Forex traders can compare this to fourth-quarter Exports which increased by 2.6% and to Imports which increased by 1.8%. German Private Consumption for the first-quarter increased by 0.4% and German Domestic Demand increased by 0.4%. Economists predicted an increase of 0.2% and of 0.4%. Forex traders can compare this to fourth-quarter German Private Consumption which decreased by 0.1% and to German Domestic Demand which increased by 0.1%. German Government Spending for the first-quarter decreased by 0.5%. Economists predicted a decrease of 0.2%. Forex traders can compare this to fourth-quarter German Government Spending which increased by 0.4%. German Capital Investment for the first-quarter increased by 1.7% and German Construction Investment increased by 2.1%. Economists predicted an increase of 1.1% and of 1.0%. Forex traders can compare this to fourth-quarter German Capital Investment which increased by 0.3% and to German Construction Investment which increased by 0.1%.
• German GfK Consumer Confidence Survey: The German GfK Consumer Confidence Survey for June was reported at 10.7. Economists predicted a figure of 10.8. Forex traders can compare this to the German GfK Consumer Confidence Survey for May which was reported at 10.8.

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

• US Initial Jobless Claims and Continuing Claims: US Initial Jobless Claims for the week of May 19th are predicted at 220K and US Continuing Claims for the week of May 12th are predicted at 1,750K. Forex traders can compare this to US Initial Jobless Claims for the week of May 12th which were reported at 222K and to US Continuing Claims for the week of May 5th which were reported at 1,707K.
• US House Price Index: The US House Price Index for March is predicted to increase by 0.5% monthly and by 0.7% for the first-quarter quarterly. Forex traders can compare this to US House Price Index for February which increased by 0.6% monthly and by 1.6% for the fourth-quarter quarterly.
• US Existing Home Sales: US Existing Home Sales for April are predicted to decrease by 0.9% monthly to 5.55M. Forex traders can compare this to US Existing Home Sales for March which increased by 1.1% monthly to 5.60M.
• US Kansas City Fed Manufacturing Activity Index: The US Kansas City Fed Manufacturing Activity Index for May is predicted at 23. Forex traders can compare this to the US Kansas City Fed Manufacturing Activity Index for April which was reported at 26.

Should price action for the EURUSD remain inside the or breakout above the 1.1675 to 1.1750 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.1715
• Take Profit Zone: 1.2375 – 1.2410
• Stop Loss Level: 1.1555

Should price action for the EURUSD breakdown below 1.1675 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.1660
• Take Profit Zone: 1.1555 – 1.1575
• Stop Loss Level: 1.1715

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