Here are the key factors to keep in mind today for US Dollar trades:
- US Preliminary Durable Goods Orders: US Preliminary Durable Goods Orders for February are predicted to decrease by 1.2% monthly and Durables Excluding Transportation are predicted to increase by 0.3% monthly. Forex traders can compare this to US Durable Goods Orders for January which increased by 0.3% monthly and to Durables Excluding Transportation which decreased by 0.2% monthly. Capital Goods Orders Non-Defense Excluding Aircraft for February are predicted to increase by 0.3% monthly and Capital Goods Shipments Non-Defense Excluding Aircraft are predicted to increase by 0.1% monthly. Forex traders can compare this to Capital Goods Orders Non-Defense Excluding Aircraft for January which increased by 0.8% monthly and to Capital Goods Shipments Non-Defense Excluding Aircraft which increased by 0.8% monthly.
- US Vehicle Sales: US Vehicle Sales for February are predicted at 16.7M. Forex traders can compare this to US Vehicle Sales for January which were reported at 16.6M.
Here is the key factor to keep in mind today for Swiss Franc trades:
- Swiss CPI: The Swiss CPI for March increased by 0.5% monthly and by 0.7% annualized. Economists predicted an increase of 0.4% monthly and of 0.5% annualized. Forex traders can compare this to the Swiss CPI for February which increased by 0.4% monthly and by 0.6% annualized. The Swiss Core CPI for March increased by 0.5% annualized. Economists predicted an increase of 0.4%. Forex traders can compare this this to the Swiss Core CPI for February which increased by 0.4% annualized. The Swiss EU Harmonized CPI for March increased by 0.3% monthly and by 0.7% annualized. Economists predicted an increase of 0.2% monthly and of 0.6% annualized. Forex traders can compare this to the Swiss EU Harmonized CPI for February which increased by 0.3% monthly and by 0.7% annualized.
Should price action for the USDCHF remain inside the or breakdown below the 0.9975 to 1.0000 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.9990
- Take Profit Zone: 0.9785 – 0.9835
- Stop Loss Level: 1.0050
Should price action for the USDCHF breakout above 1.0000 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.0020
- Take Profit Zone: 1.0095 – 1.0125
- Stop Loss Level: 0.9990
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
