Here are the key factors to keep in mind today for US Dollar trades:
- US Empire Manufacturing Index: The US Empire Manufacturing Index for April is predicted at 8.0. Forex traders can compare this to the US Empire Manufacturing Index for March which was reported at 3.7.
- US TIC Data: US TIC Net Long-Term Transactions for February are predicted at -$18.2B and US Total Net TIC Flows are predicted at $13.3B. Forex traders can compare this to US TIC Net Long-Term Transactions for January which were reported at -$7.2B and to US Total Net TIC Flows which were reported at -$143.7B.
Here are the key factors to keep in mind today for Swiss Franc trades:
- Swiss Producer & Import Prices: Swiss Producer & Import Prices for March increased by 0.3% monthly and decreased by 0.2% annualized. Economists predicted an increase of 0.2% monthly and a decrease of 0.2% annualized. Forex traders can compare this to Swiss Producer & Import Prices for February which increased by 0.2% monthly and which decreased by 0.7% annualized.
- Swiss Total Sight Deposits and Swiss Domestic Sight Deposits: Swiss Total Sight Deposits for the week of April 12th were reported at CHF576.6B and Swiss Domestic Sight Deposits were reported at CHF484.7B. Forex traders can compare this to Swiss Total Sight Deposits for the week of April 5th which were reported at CHF576.3B and to Swiss Domestic Sight Deposits which were reported at CHF485.5B.
Should price action for the USDCHF remain inside the or breakdown below the 0.9995 to 1.0040 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.0015
- Take Profit Zone: 0.9895 – 0.9915
- Stop Loss Level: 1.0070
Should price action for the USDCHF breakout above 1.0040 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.0055
- Take Profit Zone: 1.0125 – 1.0170
- Stop Loss Level: 1.0015
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
