Here are the key factors to keep in mind today for US Dollar trades:
- US Empire Manufacturing Index: The US Empire Manufacturing Index for March is predicted at 15.0. Forex traders can compare this to the US Empire Manufacturing Index for February which was reported at 13.1.
- US Import Price Index: The US Import Price Index for February is predicted to increase by 0.3% monthly and by 3.5% annualized. Forex traders can compare this to the US Import Price Index for January which increased by 1.0% monthly and by 3.6% annualized. The US Import Price Index excluding Petroleum for February is predicted to increase by 0.3% monthly. Forex traders can compare this to the US Import Price Index excluding Petroleum for January which increased by 0.5% monthly. The US Export Price Index for February is predicted to increase by 0.3% monthly and by 3.5% annualized. Forex traders can compare this to the US Export Price Index for January which increased by 0.8% monthly and by 3.4% annualized.
- US Initial Jobless Claims and Continuing Claims: US Initial Jobless Claims for the week of March 10th are predicted at 228K and US Continuing Claims for the week of March 3rd are predicted at 1,900K. Forex traders can compare this to US Initial Jobless Claims for the week of March 3rd which were reported at 231K and to US Continuing Claims for the week of February 24th which were reported at 1,870K.
- Philadelphia Fed Business Outlook: The Philadelphia Fed Business Outlook for March is predicted at 23.0. Forex traders can compare this to the Philadelphia Fed Business Outlook for February which was reported at 25.8.
- US NAHB Housing Market Index: The US NAHB Housing Market Index for March is predicted at 72. Forex traders can compare this to the US NAHB Housing Market Index for February which was reported at 72.
Here are the key factor to keep in mind today for Swiss Franc trades:
- Swiss Producer Import Prices: Swiss Producer Import Prices for February increased by 0.3% monthly and by 2.3% annualized. Forex traders can compare this to Swiss Producer Import Prices for January which increased by 0.3% monthly and by 1.8% annualized.
- Swiss National Bank Sight Deposit Interest Rate: The Swiss National Bank Sight Deposit Interest Rate was reported at -0.75%. Economists predicted a reading of -0.75%. Forex traders can compare this to the previous Swiss National Bank Sight Deposit Interest Rate which was reported at -0.75%. The SNB 3-Month Libor Lower Target Range was reported at -1.25% and the SNB 3-Month Libor Upper Target Range was reported at -0.25%. Economists predicted a figure of -1.25% and of -0.25%. Forex traders can compare this to the previous NB 3-Month Libor Lower Target Range of -1.25% and to the SNB 3-Month Libor Upper Target Range of -0.25%.
Should price action for the USDCHF remain inside the or breakdown below the 0.9425 to 0.9480 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.9450
- Take Profit Zone: 0.9190 – 0.9250
- Stop Loss Level: 0.9530
Should price action for the USDCHF breakout above 0.9480 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.9510
- Take Profit Zone: 0.9665 – 0.9735
- Stop Loss Level: 0.9450
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