Here is the key factor to keep in mind today for Euro trades:

• German Import Price Index: The German Import Price Index for October increased by 0.6% monthly and by 2.6% annualized. Economists predicted an increase of 0.4% monthly and of 2.5% annualized. Forex traders can compare this to the German Import Price Index for September which increased by 0.9% monthly and by 3.0% annualized.
• Eurozone Money Supply M3: Eurozone Money Supply M3 for October is predicted to increase by 5.1% annualized. Forex traders can compare this to Eurozone Money Supply M3 for September which increased by 5.1% annualized.
• German GfK Consumer Confidence Survey: The German GfK Consumer Confidence Survey for December is predicted at 10.7. Forex traders can compare this to the German GfK Consumer Confidence Survey for November which was reported at 10.7.

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

• US Advanced Goods Trade Balance: The US Advanced Goods Trade Balance for October is predicted at -$64.9B. Forex traders can compare this to the US Advanced Goods Trade Balance for September which was reported at -$64.1B.
• US Wholesale Inventories: US Wholesale Inventories for October are predicted to increase by 0.4% monthly. Forex traders can compare this to US Wholesale Inventories for September which increased by 0.3% monthly.
• US House Price Index: The US House Price Index for September is predicted to increase by 0.5% monthly. Forex traders can compare this to US House Price Index for August which increased by 0.7% monthly.
• US S&P/Case-Shiller Composite 20: The US S&P/Case-Shiller Composite 20 for September is predicted to increase by 0.30% monthly and by 6.00% annualized. Forex traders can compare this to the US S&P/Case-Shiller Composite 20 for August which increased by 0.45% monthly and which increased by 5.92% annualized.
• US Consumer Confidence: US Consumer Confidence for November is predicted at 124.0. Forex traders can compare this to US Consumer Confidence for October which was reported at 125.9.
• US Richmond Fed Manufacturing Index: The US Richmond Fed Manufacturing Index for November is predicted at 14. Forex traders can compare this to the US Richmond Fed Manufacturing Index for October which was reported at 12.

Should price action for the EURUSD remain inside the or breakout above the 1.1885 to 1.1925 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.1910
• Take Profit Zone: 1.2250 – 1.2300
• Stop Loss Level: 1.1790

Should price action for the EURUSD breakdown below 1.1885 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.1850
• Take Profit Zone: 1.1715 – 1.1755
• Stop Loss Level: 1.1910

Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.