Source: PaxForex Premium Analytics Portal, Fundamental Insight
Swiss Retail Sales for March are predicted to rise by 0.2% annualized. Forex traders can compare this to Swiss Retail Sales for February, which contracted by 0.2% annualized.
The Swiss CPI for April is predicted to increase by 0.1% monthly and 1.1% annualized. Forex traders can compare this to the Swiss CPI for March, which was flat at 0.0% monthly and rose by 1.0% annualized.
The Swiss Procure.ch Manufacturing PMI for April is predicted at 45.5. Forex traders can compare this to the Swiss Procure.ch Manufacturing PMI for March, reported at 45.2.
US Initial Jobless Claims for the week of April 27th are predicted at 212K, and US Continuing Claims for the week of April 20th at 1,800K. Forex traders can compare this to US Initial Jobless Claims for the week of April 20th, reported at 207K, and US Continuing Claims for the week of April 13th, reported at 1,781K.
Preliminary US Non-Farm Productivity for the first quarter is predicted to increase by 0.8% quarterly, and Unit Labor Costs to surge by 3.6% quarterly. Forex traders can compare this to US Non-Farm Productivity for the fourth quarter, which rose 3.3% quarterly, and Unit Labor Costs, which increased 0.4% quarterly.
The US Trade Balance for March is predicted at -$69.50B. Forex traders can compare this to the US Trade Balance for February, reported at -$68.90B.
US Factory Orders for March are predicted to rise by 1.6% monthly. Forex traders can compare this to US Factory Orders for February, which increased by 1.4% monthly.
US Natural Gas Inventories for the week ending April 26th are predicted at 68B cubic feet. Traders can compare this to US Natural Gas Inventories for the week ending April 19th, reported at 92B cubic feet.
The forecast for the USD/CHF turned bearish after this currency pair advanced into its horizontal resistance area. Short-term bullish momentum faded after the Kijun-sen flatlined, but volatility could stay higher with the Tenkan-sen moving higher. The Senkou Span A and the Senkou Span B of the Ichimoku Kinko Hyo Cloud have flatlined, confirming the absence of bullish momentum. Traders should also monitor the CCI in extreme overbought territory after recording a lower high, which formed a negative divergence. A breakdown below 100 could trigger a sell-off. Can bears regain control over the USD/CHF and force price action into its horizontal support area? Subscribe to the PaxForex Daily Fundamental Analysis and earn over 5,000 pips per month.
Should price action for the USD/CHF remain inside the or breakdown below the 0.9125 to 0.9195 zone, PaxForex recommends the following trade set-up:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.9160
- Take Profit Zone: 0.8920 – 0.8980
- Stop Loss Level: 0.9225
Should price action for the USD/CHF breakout above 0.9195, PaxForex recommends the following trade set-up:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.9225
- Take Profit Zone: 0.9300 – 0.9350
- Stop Loss Level: 0.9195
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
