Here are the key factors to keep in mind today for US Dollar trades:
- US Advanced Goods Trade Balance: The US Advanced Goods Trade Balance for February is predicted at -$74.2B. Forex traders can compare this to the US Advanced Goods Trade Balance for January which was reported at -$74.4B.
- US Wholesale Inventories: US Preliminary Wholesale Inventories for February are predicted to increase by 0.5% monthly. Forex traders can compare this to previous US Wholesale Inventories for January which increased by 0.8% monthly.
- US GDP: The US GDP for the fourth-quarter is predicted to increase by 2.7% annualized. Forex traders can compare this to the previous fourth-quarter GDP which increased by 2.5% annualized. Personal Consumption is predicted to increase by 3.8% annualized. Forex traders can compare this to previous fourth-quarter Personal Consumption which increased by 3.8% annualized. The GDP Price Index is predicted to increase by 2.3% annualized. Forex traders can compare this to previous fourth-quarter GDP Price Index which increased by 2.3% annualized. The Core PCE is predicted to increase by 1.9% annualized. Forex traders can compare this to previous fourth-quarter Core PCE which increased by 1.9% annualized.
- US Pending Home Sales: US Pending Home Sales for February are predicted to increase by 2.0% monthly and by 0.2% annualized. Forex traders can compare this to US Pending Home Sales for January which decreased by 4.7% monthly and by 1.7% annualized.
Here is the key factor to keep in mind today for Swiss Franc trades:
- Credit Suisse Survey Expectations: Credit Suisse Survey Expectations for March were reported at 16.7. Forex traders can compare this to Credit Suisse Survey Expectations for February which were reported at 25.8.
Should price action for the USDCHF remain inside the or breakdown below the 0.9460 to 0.9500 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.9485
- Take Profit Zone: 0.9190 – 0.9215
- Stop Loss Level: 0.9565
Should price action for the USDCHF breakout above 0.9500 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.9510
- Take Profit Zone: 0.9630 – 0.9665
- Stop Loss Level: 0.9435
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
