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

• French Manufacturing PMI, Services PMI and Composite PMI: The Preliminary French Markit Manufacturing PMI for October was reported at 56.7. Economists predicted a figure of 56.0. Forex traders can compare this to the French Markit Manufacturing PMI for for September which was reported at 56.1. The Preliminary French Markit Services PMI for October was reported at 57.4. Economists predicted a figure of 56.9. Forex traders can compare this to the French Markit Services PMI for for September which was reported at 57.0. The Preliminary French Markit Composite PMI for September was reported at 57.5. Economists predicted a figure of 57.0. Forex traders can compare this to the French Markit Composite PMI for for September which was reported at 57.1.
• German Manufacturing PMI, Services PMI and Composite PMI: The Preliminary German Markit Manufacturing PMI for October was reported at 60.5. Economists predicted a figure of 60.0. Forex traders can compare this to the German Markit Manufacturing PMI for for September which was reported at 60.6. The Preliminary German Markit Services PMI for October was reported at 55.2. Economists predicted a figure of 55.5. Forex traders can compare this to the German Markit Services PMI for for September which was reported at 55.6. The Preliminary German Markit Composite PMI for October was reported at 56.9. Economists predicted a figure of 57.5. Forex traders can compare this to the German Markit Composite PMI for for September which was reported at 57.7.
• Eurozone Manufacturing PMI, Services PMI and Composite PMI: The Preliminary Eurozone Markit Manufacturing PMI for October was reported at 58.6. Economists predicted a figure of 57.8. Forex traders can compare this to the Eurozone Markit Manufacturing PMI for for September which was reported at 58.1. The Preliminary Eurozone Markit Services PMI for October was reported at 54.9. Economists predicted a figure of 55.6. Forex traders can compare this to the Eurozone Markit Services PMI for for September which was reported at 55.8. The Preliminary Eurozone Markit Composite PMI for October was reported at 55.9. Economists predicted a figure of 56.5. Forex traders can compare this to the Eurozone Markit Composite PMI for for September which was reported at 56.7.

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

• US Markit Manufacturing PMI, Services PMI and Composite PMI: The Preliminary US Markit Manufacturing PMI for October is predicted at 53.2. Forex traders can compare this to the US Markit Manufacturing PMI for September which was reported at 53.1. The Preliminary US Markit Services PMI for October is predicted at 55.1. Forex traders can compare this to the US Markit Services PMI for September which was reported at 55.3. The Preliminary US Markit Composite PMI for October is predicted at 55.0. Forex traders can compare this to the US Markit Composite PMI for September which was reported at 54.8.
• US Richmond Fed Manufacturing Index: The US Richmond Fed Manufacturing Index for October is predicted at 16. Forex traders can compare this to the US Richmond Fed Manufacturing Index for September which was reported at 19.

Should price action for the EURUSD remain inside the or breakout above the 1.1740 to 1.1780 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.1760
• Take Profit Zone: 1.2030 – 1.2090
• Stop Loss Level: 1.1670

Should price action for the EURUSD breakdown below 1.1740 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.1710
• Take Profit Zone: 1.1620 – 1.1650
• Stop Loss Level: 1.1740

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