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

• German Unemployment Change and German Unemployment Rate: The German Unemployment Change for April was reported at -15K and the German Unemployment Rate at 5.8%. Economists predicted a reading of -11K and of 5.8%. Forex traders can compare this to the German Unemployment Change for March which was reported at -29K and to the German Unemployment Rate which was reported at 5.8%.
• Eurozone PPI: The Eurozone PPI for March decreased by 0.3% monthly an increased by 3.9% annualized. Economists predicted a decrease of 0.1% monthly and an increase of 4.2% annualized. Forex traders can compare this to the Eurozone PPI for February which was reported flat at 0.0% monthly and which increased by 4.5% annualized.
• Eurozone GDP: The advanced Eurozone GDP for the first-quarter increased by 0.5% quarterly and by 1.7% annualized. Economists predicted an increase of 0.5% quarterly and of 1.7% annualized. Forex traders can compare this to the previous Eurozone GDP for the first-quarter which increased by 0.4% quarterly and by 1.7% annualized.

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

• US ADP Employment Change: The US ADP Employment Change for April was reported at 177K. Economists predicted a figure of 175K. Forex traders can compare this to the US ADP Employment Change for March which was reported at 255K.
• US Markit Services PMI and Markit Composite PMI: The Final US Markit Services PMI for April was reported at 53.1 and the Final US Markit Composite PMI at 53.2. Forex traders can compare this to the previous US Markit Services PMI for April which was reported at 52.5 and to the previous US Markit Composite PMI which was reported at 52.7.
• US ISM Non-Manufacturing PMI: US ISM Non-Manufacturing PMI for April was reported at 57.5. Economists predicted a figure of 55.8. Forex traders can compare this to the US ISM Non-Manufacturing PMI for March which was reported at 55.2.
• US FOMC Interest Rate Decision: The US FOMC Interest Rate Decision is predicted to show interest rates at 1.00%. Forex traders can compare this to the previous US FOMC Interest Rate Decision which showed interest rates at 1.00%.

Should price action for the EURUSD remain inside the or breakdown below the 1.0875 to 1.0925 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.0900
• Take Profit Zone: 1.0575 – 1.0625
• Stop Loss Level: 1.1000

Should price action for the EURUSD breakout above 1.0925 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.0975
• Take Profit Zone: 1.1075 – 1.1125
• Stop Loss Level: 1.0875

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