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

• German GfK Consumer Confidence Survey: The German GfK Consumer Confidence Survey for October was reported at 10.8. Economists predicted a figure of 11.0. Forex traders can compare this to the German GfK Consumer Confidence Survey for September which was reported at 10.9.
• Eurozone Confidence Data: Eurozone Economic Confidence for September is predicted at 112.0. Forex traders can compare this to Eurozone Economic Confidence for August which was reported at 111.9. Eurozone Industrial Confidence for September is predicted at 5.1. Forex traders can compare this to Eurozone Industrial Confidence for August which was reported at 5.1. Eurozone Services Confidence for September is predicted at 15.0. Forex traders can compare this to Eurozone Services Confidence for August which was reported at 14.9. Final Eurozone Consumer Confidence for September is predicted at -1.2. Forex traders can compare this to the first Eurozone Consumer Confidence for September which was reported at -1.2. The Eurozone Business Climate Indicator for September is predicted at 1.12. Forex traders can compare this to Eurozone Business Climate Indicator for August which was reported at 1.09.
• Preliminary German CPI: The Preliminary German CPI for September is predicted to increase by 0.1% monthly and by 1.8% annualized. Forex traders can compare this to the German CPI for August which increased by 0.1% monthly and by 1.8% annualized.

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

• US GDP: The US GDP for the second-quarter is predicted to increase by 3.0% annualized. Forex traders can compare this to the previous second-quarter GDP which increased by 3.0% annualized. Personal Consumption is predicted to increase by 3.3% annualized. Forex traders can compare this to previous second-quarter Personal Consumption which increased by 3.3% annualized. The GDP Price Index is predicted to increase by 1.0% annualized. Forex traders can compare this to previous second-quarter GDP Price Index which increased by 1.0% annualized. The Core PCE is predicted to increase by 0.9% annualized. Forex traders can compare this to previous second-quarter Core PCE which increased by 0.9% annualized.
• US Initial Jobless Claims and Continuing Claims: US Initial Jobless Claims for the week of September 23rd are predicted at 270K and US Continuing Claims for the week of September 16th are predicted at 1,995K. Forex traders can compare this to US Initial Jobless Claims for the week of September 16th which were reported at 259K and to US Continuing Claims for the week of September 9th which were reported at 1,980K.
• US Advanced Goods Trade Balance: The US Advanced Goods Trade Balance for August is predicted at -$65.1B. Forex traders can compare this to the US Advanced Goods Trade Balance for July which was reported at -$65.1B.
• US Wholesale Inventories: US Wholesale Inventories for August are predicted to increase by 0.4% monthly. Forex traders can compare this to US Wholesale Inventories for July which increased by 0.6% monthly.

Should price action for the EURUSD remain inside the or breakdown below the 1.1720 to 1.1760 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.1740
• Take Profit Zone: 1.1470 – 1.1520
• Stop Loss Level: 1.1800

Should price action for the EURUSD breakout above 1.1760 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.1785
• Take Profit Zone: 1.2050 – 1.2090
• Stop Loss Level: 1.1740

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