Here are the key factors to keep in mind today for US Dollar trades:
- US Housing Starts and Building Permits: US Housing Starts for March are predicted to decrease by 3.0% monthly to 1,250K starts and Building Permits are predicted to increase by 2.8% monthly to 1,250K permits. Forex traders can compare this to US Housing Starts for February which increased by 3.0% monthly to 1,288K starts and Building Permits which decreased by 6.2% monthly to 1,213K permits.
- US Industrial Production and Manufacturing Production: US Industrial Production for March is predicted to increase by 0.5% monthly and Manufacturing Production is predicted to increase by 0.1% monthly. Forex traders can compare this to US Industrial Production for February which was reported flat at 0.0% monthly and to Manufacturing Production which increased by 0.5% monthly.Capacity Utilization for March is predicted at 76.2%. Forex traders can compare this to Capacity Utilization for February which was reported at 75.4%.
Here is the key factor to keep in mind today for Swiss Franc trades:
- Swiss Total Sight Deposits and Swiss Domestic Sight Deposits: Swiss Total Sight Deposits for the week of April 14th were reported at CHF567.1B and Swiss Domestic Sight Deposits were reported at CHF480.6B. Forex traders can compare this to Swiss Total Sight Deposits for the week of April 7th which were reported at CHF564.1B and to Swiss Domestic Sight Deposits which were reported at CHF476.2B.
Should price action for the USDCHF remain inside the or breakout above the 1.0000 to 1.0050 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.0025
- Take Profit Zone: 1.0250 – 1.0300
- Stop Loss Level: 0.9900
Should price action for the USDCHF breakdown below 1.0000 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.9975
- Take Profit Zone: 0.9775 – 0.9825
- Stop Loss Level: 1.0050
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
