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 18.6. Forex traders can compare this to the US Empire Manufacturing Index for March which was reported at 22.5.
- US Advanced Retail Sales: US Advanced Retail Sales for March are predicted to increase by 0.4% monthly and Retail Sales Less Autos are predicted to increase by 0.2% monthly. Forex traders can compare this to US Advanced Retail Sales for February which decreased by 0.1% monthly and to Retail Sales Less Autos which increased by 0.2% monthly. Retail Sales Less Autos and Gas for March are predicted to increase by 0.4% monthly and Retail Sales Control Group are predicted to increase by 0.3% monthly. Forex traders can compare this to Retail Sales Less Autos and Gas for February which increased by 0.3% monthly and to Retail Sales Control Group which increased by 0.1% monthly.
- US Business Inventories: US Business Inventories for February are predicted to increase by 0.6% monthly. Forex traders can compare this to US Business Inventories for January which increased by 0.6% monthly.
- US NAHB Housing Market Index: The US NAHB Housing Market Index for April is predicted at 70. Forex traders can compare this to the US NAHB Housing Market Index for March which was reported at 70.
Here are the key factors to keep in mind today for Swiss Franc trades:
- Swiss Producer Import Prices: Swiss Producer Import Prices for March decreased by 0.2% monthly and increased by 2.0% annualized. Forex traders can compare this to Swiss Producer Import Prices for February which increased by 0.3% monthly and by 2.3% annualized.
- Swiss Total Sight Deposits and Swiss Domestic Sight Deposits: Swiss Total Sight Deposits for the week of April 13th were reported at CHF575.1B and Swiss Domestic Sight Deposits were reported at CHF466.2B. Forex traders can compare this to Swiss Total Sight Deposits for the week of April 6th which were reported at CHF574.9B and to Swiss Domestic Sight Deposits which were reported at CHF465.4B.
Should price action for the USDCHF remain inside the or breakdown below the 0.9605 to 0.9635 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.9620
- Take Profit Zone: 0.9190 – 0.9215
- Stop Loss Level: 0.9700
Should price action for the USDCHF breakout above 0.9635 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.9650
- Take Profit Zone: 0.9815 – 0.9845
- Stop Loss Level: 0.9600
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
