Source: PaxForex Premium Analytics Portal, Fundamental Insight
The Preliminary Spanish CPI for May is predicted to rise by 0.9% monthly and 4.4% annualized. Forex traders can compare this to the Spanish CPI for April, which increased by 0.6% monthly and 4.4% annualized. The Spanish Harmonized CPI for May is predicted to rise 0.6% monthly and 4.1% annualized. Forex traders can compare this to the Spanish Harmonized CPI for April, which expanded by 0.5% monthly and 3.8% annualized.
Spanish Retail Sales for April are predicted to increase by 0.7% annualized. Forex traders can compare this to Spanish Retail Sales for March, which surged by 9.5% annualized.
The Italian PPI for April is predicted to rise by 0.5% monthly and contract by 4.0% annualized. Forex traders can compare this to the Italian PPI for March, which dropped by 1.5% monthly and expanded by 3.8% annualized.
Eurozone M3 Money Supply for April is predicted to increase by 2.1% annualized. Forex traders can compare this to Eurozone M3 Money Supply for March, which rose 2.5% annualized. Eurozone Private Sector Loans for April are predicted to expand by 2.7% annualized, and Loans to Non-Financial Corporations by 4.7%. Forex traders can compare this to Eurozone Private Sector Loans for March, which increased by 2.9% annualized, and Loans to Non-Financial Corporations, which rose by 5.2% annualized.
Italian Industrial Sales for March are predicted to increase by 0.1% monthly and surge by 13.0% annualized. Forex traders can compare this to Italian Industrial Sales for February, which increased by 1.3% monthly and 7.2% annualized.
Eurozone Economic Sentiment for May is predicted at 99.9. Forex traders can compare this to Eurozone Economic Sentiment for April, reported at 99.3. Eurozone Industrial Sentiment for May is predicted at 0.1, and Eurozone Services Sentiment at 9.4. Forex traders can compare this to Eurozone Industrial Sentiment for April, reported at -2.6, and Eurozone Services Sentiment at 10.5. Final Eurozone Consumer Confidence for May is predicted at -17.4. Forex traders can compare this to the previous Eurozone Consumer Confidence for May, reported at -17.5. The Eurozone Business Climate Indicator for December is predicted at -0.16. Forex traders can compare this to Eurozone Business Climate Indicator for March, reported at -0.23. Eurozone Consumer Inflation Expectations for May are predicted at 11.9, and Eurozone Selling Price Expectations at 5.7. Forex traders can compare this to Eurozone Consumer Inflation Expectations for April, reported at 15.1, and Eurozone Selling Price Expectations at 12.0.
Spanish Consumer Confidence for May is predicted at -1.3. Forex traders can compare this to Spanish Consumer Confidence for April, reported at -1.3.
The Swiss KOF Leading Indicator for May is predicted at 95.0. Forex traders can compare this to the Swiss KOF Leading Indicator for April, reported at 96.4.
The Swiss GDP for the first quarter is predicted to expand by 0.1% quarterly and 0.6% annualized. Forex traders can compare this to the Swiss GDP for the fourth quarter, which came in flat at 0.0% quarterly and rose by 0.8% annualized.
The forecast for the EUR/CHF turned bullish after this currency pair corrected into its horizontal support area. Volatility could increase with the Kijun-sen flat, the Tenkan-sen descending, the Senkou Span B of the Ichimoku Kinko Hyo Cloud flat, and the Senkou Span A moving lower. Traders should focus on the CCI in extreme oversold territory. A breakout above 100 could guide price action higher. Can bulls overpower bears and push the EUR/CHF into its horizontal resistance area? Subscribe to the PaxForex Daily Fundamental Analysis and earn over 5,000 pips per month.
Should price action for the EUR/CHF remain inside the or breakout above the 0.9640 to 0.9715 zone, PaxForex recommends the following trade set-up:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.9680
- Take Profit Zone: 0.9850 – 0.9880
- Stop Loss Level: 0.9610
Should price action for the EUR/CHF breakdown below 0.9640, PaxForex recommends the following trade set-up:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.9610
- Take Profit Zone: 0.9495 – 0.9530
- Stop Loss Level: 0.9640
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