Source: PaxForex Premium Analytics Portal, Fundamental Insight

The Swiss Employment Level for the first quarter is predicted at 5.433M. Forex traders can compare this to the Swiss Employment Level for the fourth quarter, reported at 5.398M.

US Preliminary Durable Goods Orders for April are predicted to drop by 1.0% monthly, and Durables, Excluding Transportation flat at 0.0% monthly. Forex traders can compare this to US Durable Goods Orders for March, which rose by 3.2% monthly, and Durables Excluding Transportation, which increased by 0.3% monthly. Capital Goods Orders Non-Defense Excluding Aircraft for April are predicted to contract by 0.5% monthly. Forex traders can compare this to Capital Goods Orders Non-Defense Excluding Aircraft for March, which dropped by 0.4% monthly.

US Personal Income for April is predicted to increase by 0.4% monthly, and Personal Spending by 0.4% monthly. Forex traders can compare this to Personal Income for March, which rose by 0.3% monthly, and Personal Spending, which was flat at 0.0% monthly. The PCE Deflator for April is predicted to increase by 0.4% monthly and 3.9% annualized. Forex traders can compare this to the PCE Deflator for March, which increased by 0.1% monthly and 4.2% annualized. The PCE Core Deflator for April is predicted to rise by 0.3% monthly and 4.6% annualized. Forex traders can compare this to the PCE Core Deflator for March, which increased by 0.3% monthly and 4.6% annualized.

The US Trade Balance for April is predicted at -$85.70B. Forex traders can compare this to the US Trade Balance for March, reported at -$84.60B.

US Wholesale Inventories for April are predicted flat at 0.0% monthly. Forex traders can compare this to US Wholesale Inventories for March, which were flat at 0.0% monthly.

The final US Michigan Consumer Sentiment for May is predicted at 57.9. Forex traders can compare this to US Michigan Consumer Confidence for April, reported at 63.5. Final Current Conditions for May are predicted at 64.5, and Final Expectations at 53.4. Forex traders can compare this to Current Conditions for April, reported at 68.2, and Expectations, reported at 60.5.

The forecast for the USD/CHF turned bearish after this currency pair moved into its descending Ichimoku Kinko Hyo Cloud, which continues to apply downside pressures. The Kijun-sen and the Tenkan-sen flatlined, suggesting a potential volatility rise as bulls and bears wrestle for control. Traders should also monitor the CCI in extreme overbought territory. A breakdown below 100 could trigger the next 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 0.9030 to 0.9075 zone, PaxForex recommends the following trade set-up:

• Timeframe: D1           
• Recommendation: Short Position
• Entry Level: Short Position @ 0.9045
• Take Profit Zone: 0.8820 – 0.8865
• Stop Loss Level: 0.9100

Should price action for the USD/CHF breakout above 0.9075, PaxForex recommends the following trade set-up:

• Timeframe: D1           
• Recommendation: Long Position
• Entry Level: Long Position @ 0.9100
• Take Profit Zone: 0.9130 – 0.9170
• Stop Loss Level: 0.9075

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