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 August is predicted at 49.5. Forex traders can compare this to the French Markit Manufacturing PMI for for July which was reported at 49.7. The Preliminary French Markit Services PMI for August is predicted at 52.5. Forex traders can compare this to the French Markit Services PMI for for July which was reported at 52.6. The Preliminary French Markit Composite PMI for August was reported at 51.8. Forex traders can compare this to the French Markit Composite PMI for for July which was reported at 51.9.
German Manufacturing PMI, Services PMI and Composite PMI: The Preliminary German Markit Manufacturing PMI for August is predicted at 43.0. Forex traders can compare this to the German Markit Manufacturing PMI for for July which was reported at 43.2. The Preliminary German Markit Services PMI for August is predicted at 54.0. Forex traders can compare this to the German Markit Services PMI for for July which was reported at 54.5. The Preliminary German Markit Composite PMI for August is predicted at 50.6. Forex traders can compare this to the German Markit Composite PMI for for July which was reported at 50.9.
Eurozone Manufacturing PMI, Services PMI and Composite PMI: The Preliminary Eurozone Markit Manufacturing PMI for August is predicted at 46.2. Forex traders can compare this to the Eurozone Markit Manufacturing PMI for for July which was reported at 46.5. The Preliminary Eurozone Markit Services PMI for August is predicted at 53.0. Forex traders can compare this to the Eurozone Markit Services PMI for for July which was reported at 53.2. The Preliminary Eurozone Markit Composite PMI for August is predicted at 51.2. Forex traders can compare this to the Eurozone Markit Composite PMI for for July which was reported at 51.5.
Advanced Eurozone Consumer Confidence: Advanced Eurozone Consumer Confidence for August is predicted at -7.0. Forex traders can compare this to the previous Eurozone Consumer Confidence for August which was reported at -6.6.
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 August 17th are predicted at 216K and US Continuing Claims for the week of August 10th are predicted at 1,700K. Forex traders can compare this to US Initial Jobless Claims for the week of August 10th which were reported at 220K and to US Continuing Claims for the week of August 3rd which were reported at 1,726K.
US Markit Manufacturing PMI, Services PMI and Composite PMI: The Preliminary US Markit Manufacturing PMI for August is predicted at 50.5. Forex traders can compare this to the US Markit Manufacturing PMI for July which was reported at 50.4. The Preliminary US Markit Services PMI for August is predicted at 52.8. Forex traders can compare this to the US Markit Services PMI for July which was reported at 53.0. The Preliminary US Markit Composite PMI for August is predicted at 52.5. Forex traders can compare this to the US Markit Composite PMI for July which was reported at 52.6.
US Leading Index: The US Leading Index for July are predicted to increase by 0.2% monthly. Forex traders can compare this to the US Leading Index for June which decreased by 0.3% monthly.
US Kansas City Fed Manufacturing Activity Index: The US Kansas City Fed Manufacturing Activity Index for August is predicted at -10. Forex traders can compare this to the US Kansas City Fed Manufacturing Activity Index for July which was reported at -6.
Should price action for the EURUSD remain inside the or breakout above the 1.1025 to 1.1110 zone the following trade set-up is recommended:
Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 1.1080
Take Profit Zone: 1.1250 – 1.1320
Stop Loss Level: 1.1000
Should price action for the EURUSD breakdown below 1.1025 the following trade set-up is recommended:
Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 1.0975
Take Profit Zone: 1.0820 – 1.0905
Stop Loss Level: 1.1025
French Manufacturing PMI, Services PMI and Composite PMI: The Preliminary French Markit Manufacturing PMI for August is predicted at 49.5. Forex traders can compare this to the French Markit Manufacturing PMI for for July which was reported at 49.7. The Preliminary French Markit Services PMI for August is predicted at 52.5. Forex traders can compare this to the French Markit Services PMI for for July which was reported at 52.6. The Preliminary French Markit Composite PMI for August was reported at 51.8. Forex traders can compare this to the French Markit Composite PMI for for July which was reported at 51.9.
German Manufacturing PMI, Services PMI and Composite PMI: The Preliminary German Markit Manufacturing PMI for August is predicted at 43.0. Forex traders can compare this to the German Markit Manufacturing PMI for for July which was reported at 43.2. The Preliminary German Markit Services PMI for August is predicted at 54.0. Forex traders can compare this to the German Markit Services PMI for for July which was reported at 54.5. The Preliminary German Markit Composite PMI for August is predicted at 50.6. Forex traders can compare this to the German Markit Composite PMI for for July which was reported at 50.9.
Eurozone Manufacturing PMI, Services PMI and Composite PMI: The Preliminary Eurozone Markit Manufacturing PMI for August is predicted at 46.2. Forex traders can compare this to the Eurozone Markit Manufacturing PMI for for July which was reported at 46.5. The Preliminary Eurozone Markit Services PMI for August is predicted at 53.0. Forex traders can compare this to the Eurozone Markit Services PMI for for July which was reported at 53.2. The Preliminary Eurozone Markit Composite PMI for August is predicted at 51.2. Forex traders can compare this to the Eurozone Markit Composite PMI for for July which was reported at 51.5.
Advanced Eurozone Consumer Confidence: Advanced Eurozone Consumer Confidence for August is predicted at -7.0. Forex traders can compare this to the previous Eurozone Consumer Confidence for August which was reported at -6.6.
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 August 17th are predicted at 216K and US Continuing Claims for the week of August 10th are predicted at 1,700K. Forex traders can compare this to US Initial Jobless Claims for the week of August 10th which were reported at 220K and to US Continuing Claims for the week of August 3rd which were reported at 1,726K.
US Markit Manufacturing PMI, Services PMI and Composite PMI: The Preliminary US Markit Manufacturing PMI for August is predicted at 50.5. Forex traders can compare this to the US Markit Manufacturing PMI for July which was reported at 50.4. The Preliminary US Markit Services PMI for August is predicted at 52.8. Forex traders can compare this to the US Markit Services PMI for July which was reported at 53.0. The Preliminary US Markit Composite PMI for August is predicted at 52.5. Forex traders can compare this to the US Markit Composite PMI for July which was reported at 52.6.
US Leading Index: The US Leading Index for July are predicted to increase by 0.2% monthly. Forex traders can compare this to the US Leading Index for June which decreased by 0.3% monthly.
US Kansas City Fed Manufacturing Activity Index: The US Kansas City Fed Manufacturing Activity Index for August is predicted at -10. Forex traders can compare this to the US Kansas City Fed Manufacturing Activity Index for July which was reported at -6.
Should price action for the EURUSD remain inside the or breakout above the 1.1025 to 1.1110 zone the following trade set-up is recommended:
Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 1.1080
Take Profit Zone: 1.1250 – 1.1320
Stop Loss Level: 1.1000
Should price action for the EURUSD breakdown below 1.1025 the following trade set-up is recommended:
Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 1.0975
Take Profit Zone: 1.0820 – 1.0905
Stop Loss Level: 1.1025